The Taoiseach:

I have not read that article. I would like to read it before offering a detailed view. Because of the various housing schemes we have introduced, particularly the help-to-buy and first home schemes, there has been exponential growth in the number of new mortgages drawn down by first-time buyers. The banks have an obligation to make sure they give fair and equitable treatment to those mortgage holders, who are predominantly younger people starting out in life. I also believe the banks should be lending more to the construction industry in the Republic. I do not believe the lending is of sufficient scale given the huge issue housing represents and the pent-up demand. In my view, there would be an adequate return. Lending is far too conservative at the moment. The cost of financing is an issue in construction. The banks could play a stronger role on that. The banks are doing well out of the mortgage market. They have two responsibilities. They must be fair and equitable to those taking out mortgages but they must also lend more to smaller builders and construction companies on economic terms. That would aid the more rapid construction of houses and apartments.

I will examine this and I will also revert to the Minister for Finance. I have not read the report in detail. I appreciate that.