Terence Flanagan (Dublin North East, Fine Gael)

The scheme's ceiling is seven times a person's salary, which seems grossly irresponsible, particularly in light of what has happened in the sub-prime market in the US. Will the Minister of State give a reassurance that there will not be a repeat of what happened in the past? What changes will be put in place to ensure all mortgages are properly stress-tested and that we return to a more traditional method of providing loans up to two and a half times salary? That is much more prudent. The introduction of this scheme could get us into trouble again.

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