Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I want to go back to the issue of whether there is a market failure. I am sure the representatives are familiar with the Central Bank (Variable Rate Mortgages) Bill in the context of a cap on interest rates. Under that proposed legislation, which is before this committee, the responsibility would be given to the Central Bank to determine if there was a market failure, and correct me if I am wrong. The Central Bank has informed this committee that it does not want that role because it is really the role of the Competition and Consumer Protection Commission. If the Bill were law today, and given the analysis the witnesses have just done on the mortgage market, do they believe there is a market failure as defined by that proposed legislation?