Michael Fitzmaurice (Roscommon-Galway, Independent) | Oireachtas source

I welcome the Minister's commitment to meet Deputies to discuss the vulture funds, in respect of which the amendments sought to introduce a high rate of stamp duty. I note and understand amendment No. 68 has been ruled out of order because a member of the Opposition cannot raise a tax on a person, but a company is not a person. We will redraft the amendment before Report Stage.

The Government has a large shareholding in Allied Irish Banks, AIB. I understand AIB proposes to sell loans worth up to €3.5 billion to vulture funds. I call on the Minister not to allow that to happen. It is only at the eleventh hour and the 59th minute that all of us here have finally got that people are in desperate need. We need to look at the iCare model, in conjunction with NAMA, to facilitate people to remain in their homes. Once a person's home is repossessed, his or her record is blackened forever. There are many people who borrowed €200,000 for whom the repayments are a stretch too far but they would be able to meet the repayments on a €130,000 loan. On the proposed sale by AIB of loans worth approximately €3.5 billion, it is very important that the Minister keep on eye on the process.