Oireachtas Joint and Select Committees

Wednesday, 5 July 2023

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

Defective Block Redress: Redress Focus Group for Banking and Insurance

Photo of Damien EnglishDamien English (Meath West, Fine Gael) | Oireachtas source

I take issue with the perception that engineers will, because of the State scheme, coerce people to accept sub-standard solutions. I would not agree with that. We should not be spreading fear among people that they will be forced to accept sub-standard solutions. Going back to the standards and knowing the people involved in reaching those standards, including people from Donegal who have experienced sub-standard homes themselves, we have to acknowledge that the system is there to protect the homeowner and to make sure the house is repaired. I cannot agree with the comment that someone will be coerced to accept a solution that might not be the best for their home. It would be wrong to give that impression. I would not stand over the fear that would cause. If I ever thought that was going to happen, I would be the first person in Donegal to prevent that. I know the work that has been done through the NSAI to get the standards right in the first place. I think the majority of engineers would feel under extreme pressure to find the right solution and will go to great lengths to do so. When we have a list of qualified engineers, I assume that is the work they will do.

I have a suggestion regarding the banks. We need a mica hub, for want of a better expression, where the main banks come together with the Central Bank and everybody else to find an easy way, a one-stop solution. If something similar is being looked at in relation to a lot of those loans that are now with investment funds, that need a solution to be able to re-finance or bring them back out of fund ownership, likewise a simple, straightforward mica hub is needed where all those decision makers are put together to be able to make quick decisions to move things forward on behalf of homeowners.

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