Brian Cowen (Laois-Offaly, Fianna Fail)

The Deputy was making some good points, but he concluded with a facetious comment. The fact is that the common management of the Money Advice and Budgeting Service will remain in place. Front line services will not be affected in any way. I did not suggest that the service represents a panacea in this instance. It is important to make people aware that an objective service is available to help them. My own knowledge of these matters indicates that many people are being assisted by the service on a daily basis. People in certain circumstances are getting very good mortgage deals with lending institutions. The Deputy should not be facetious. The service has a role to play. It is playing that role. It does not cover all of the issues. As a local resource, it is providing practical answers to people in an accessible and speedy way.

I have indicated that the Financial Regulator has been instructed to consider whether the consumer protection code, which has been in place since 2000, can be extended to lenders in the sub-prime sector who are going to the courts to seek repossession orders as a first resort, rather than as a last resort. It is clear that when insecurity arises in respect of people's job prospects, they discuss such matters with banks at their own initiative. Banks are having to make suitable arrangements to ensure people can repay their mortgages. As I have said, the Minister of State with responsibility for housing is examining all issues to determine how the Government, in addition to offering the protections that are already in place, can be of assistance in this regard.

On changing housing policies, the Minister of State with responsibility for housing has been quite innovative in trying to increase the options available for those who wish to access social and affordable housing. Regarding building, I understand 14,500 households in need of social housing had their needs met last year alone, which is important. I also recognise that up to 45% of those on waiting lists are single-adult households. There are also people from our immigrant community who require housing, which is a new factor and component behind the growth in some of these categories.

Despite the difficulties in the finances, more than €1.5 billion of Exchequer funding is being provided this year to ensure that we support social housing activity in 2008, which will provide more than 9,000 new dwellings in the course of this year. The Minister of State with responsibility for housing has also introduced changes to roll out further the rental accommodation scheme, meeting the needs of households currently in receipt of long-term rent supplement under the supplementary welfare allowance scheme. He has been very proactive with homeless groups in trying to deal with the long waiting lists in that area through a far better interaction between the Department of the Environment, Heritage and Local Government and local authorities in getting people into homes. I believe the initiative he will start at the beginning of next year will produce some important results in that area. He has also provided for a long-term leasing arrangement for local authorities, whereby vacant houses on the market at present can be obtained by local authorities and provided for long-term lease.

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