Oireachtas Joint and Select Committees

Thursday, 17 May 2018

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

Resolution of Non-Performing Loans: Discussion (Resumed)

10:00 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I get that, and with respect to Mr. Burgess he has provided the committee with a solution with regard to the mortgage housing payment, but he is also arguing for sales to the vulture funds. The argument, put forward by many, is that we should not sell to the vulture funds because we need to come up with other solutions to try to deal with individuals who simply cannot afford to pay. Mr. Burgess is entitled to his opinion, with which I disagree strongly, but his commentary creates an atmosphere that makes it difficult to argue it as a consumer advocate position.

I must challenge Mr. Burgess on his point that 10,000 repossessions should take place. The witness repeated the figure in his reply when he said that in his view there are 10,000 people who are paying nothing. Can Mr. Burgess back up his assertion with any data provided by the Central Bank? In his response I ask that him not to refer to those people who are in arrears. It is very clear, as I believe we both understand, that the number of people who are in arrears does not equate with the figure of those who are paying absolutely nothing.

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