Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank Mr. Honohan and the previous speakers for their contributions. I commend them, as a group, on the efforts they have made. I was taken by Mr. Reilly saying certain people's lives have been put on hold trying to get this across the line. It is not very often we see legislation written from outside the confines of the Houses of the Oireachtas. I commend the witnesses on doing that and on their efforts to try to resolve something that has been plaguing home owners for the past decade. It will continue to plague them unless we come up with some imaginative solution.

The Chairman has put the legislation before the Ceann Comhairle in order to introduce it. What is proposed in this legislation is something for which Sinn Féin has been calling for many years. When NAMA was established, we called for a NAMA for the wee guy. I would call this a NAMA for the wee guy. It is a co-op supported by the State that would purchase the loans from the banks and then treat the borrowers with the respect and dignity they deserve. On behalf of my party, in terms of the principles of the legislation, I am willing to support it. There are technical issues we need to deal with and that is what Committee Stage and pre-legislative scrutiny are there for. I hope this legislation will be able to find its way to the floor of the Dáil, where there can be a vote on it. I hope we can get all-party support for it. Perhaps we can take the opportunity at this meeting to establish where different parties and groups stand on the matter.

One of the concerns I have is that there is a constitutional block on Members of the Opposition introducing legislation that would result in a charge on the people or State. I drafted legislation to have a referendum to remove that constitutional block but we are where we are. In Mr. Honohan's view, with his legal expertise, is this legislation which a Member of the Opposition would be blocked from introducing or could it be prevented from proceeding to Second Stage? Will it require a money message from Government?