Rose Conway-Walsh (Mayo, Sinn Fein)
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I thank the witnesses for attending. This is an important meeting. I come from County Mayo where many people are in a similar situation. It is clear that the scheme cannot work without the co-operation of the banks and their recognition that this is an abnormal situation. Trying to fit it into a normal bracket will never work.

I am concerned. I have just come from Taoiseach's Questions and one of the questions I put to him was on whether this was a 100% redress scheme. He is still saying it is. I thank Ms McDade for the breakdown and the good example she provided. I will give the witnesses an example from Mayo. The cost of someone's demolition and rebuild is €296,000 under the new scheme, or €2,045 per sq. m. The person's house is 94.54 sq. m, and €2,045 by 94.54 is €193,334. That person is still €103,000 short. The individual bought the house from Mayo County Council with a council loan but the council is refusing.

The witnesses are trapped with the financial institutions with which they are working. As has been mentioned, they cannot swap over to get a favourable rate or so on. They are wholly dependent on the Government not just to liaise with the banks, but to get a result for them with the banks and the BPFI. When I asked the Taoiseach about the engagement with the BPFI, he stated that it was continuing. In the witnesses' experience, has there been any formal movement at all since they went to the banks on day one?