Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I would have thought the Deputy could recognise the value of banks being able to lend more to enable more homes to be built, and the danger if mortgage interest rates became even more expensive than they already are. Given that ours is an economy two banks have decided to leave, the ability of the banks that remain to lend more in the future, and to avoid their mortgages becoming even more expensive, matters to me as Minister for Finance. Moreover, one of the three banks, Permanent TSB, is in the middle of an exceptionally important transaction, given the exit of a bank from Ireland.

For all those reasons, while I can understand the attractiveness to those who will listen of the case the Deputy is making, my view is making that change will lead to other things happening that will also matter to people. It will, ultimately, affect the capital status of some of those banks, which in turn will undermine their ability to provide other functions I want them to be able to provide, offer cheaper mortgages in future and be able to lend for more homes to be built.