Pat Rabbitte (Dublin South West, Labour)

I agree with the Taoiseach that a poverty problem exists and that some people are in the grip of moneylenders and pay high interest rates. In a society based on credit, some people cannot get access to credit from conventional institutions and therefore resort to moneylenders, for which there is a premium to be paid. I do not dispute any of that. However, I asked the Taoiseach about the legislation promised by the Minister to ban or curb such exorbitant interest rates and he now tells me that no such legislation is contemplated.

As for the refurbishment of the Money Advice and Budgeting Service, it is odd that the Government published a Bill in this respect in March 2002 that has never been introduced to the House on Second Stage and that Members are now informed that the Minister finds it to be defective. Although he did not do so in the past four and a half years, it is claimed he will bring in legislation in the four and a half months left to him.

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