Oireachtas Joint and Select Committees

Thursday, 8 March 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Mr. Padraic Kissane

9:30 am

Mr. Padraic Kissane:

It also raises the question of what adequate compensation is. That is the question nobody wants to address. Putting a tort and a quantum of damage on this is simply impossible. It can be multiplied to any figure. For people who have lost investment properties, the rent runs forever. It can run for generations. Some level of realism is required, however. Astonishingly, one of the things all the people I have met want from me is a way to draw a line under the matter. They just want to move on with their lives. The parts that cannot be captured in an appeal are the financial plans that were destroyed. These people have to rebuild their pension planning, the education funding for their kids, their savings in the post office and all such savings. The committee will remember the journey that I described. All those savings have been reduced to zero. Life assurance is cancelled, critical illness, income protection-----

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