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

The original efforts to try to step in to help people were discussed during parliamentary questions in April or May. The Minister said he was willing to try to assist people. The conversation and context was about those who are being hit with massive rate increases, mainly those outside of the non-traditional banks and funds. The Minister was very clear that he was attempting to try to find some way to assist with that massive jump. That is why the measure is targeted. It might not suit everybody, but no matter who put forward a proposal around trying to assist people, everybody had different targets and levels of interventions.

There is an effort being made to try to reach those in difficult situations and spend the money in that way. That has been achieved here. We could all sit here and say that we want larger amounts, but we have to look at what this is about, namely, trying to help those facing massive rate increases and who have seen a massive difference in their monthly payments, rather than everybody else. We are trying to balance the budget. There are many other supports.

There will be elements of targeting. There have been some remarks to the effect that the assistance for landlords is wrong. That is linked to them staying in the market for four or five years. There is a reason for having targeted interventions. There are interventions that will try to help. Months ago, before anyone was calling for such a measure, the Minister said he was trying to see how he could reach those most affected by interest rate increases. That has been achieved in the Bill. Naturally, everybody wants more money. We have to be realistic, however, because we can only stretch the money so far. This is a fair attempt to do that.