Eamon Gilmore (Dún Laoghaire, Labour)

-----is the fear of losing their homes. I want to put a suggestion to the Taoiseach, which I ask him to take up before the NAMA legislation is enacted. Deputy Joan Burton will put down an amendment on Committee Stage proposing that there should be a moratorium on home repossessions for a period of time. This is perfectly reasonable. The people who are having difficulty today in repaying their mortgages are those who had good jobs a year or two ago, and certainly at the time they took out the mortgage. Hopefully, they will have good jobs again when we come through the economic difficulty. However, while the economic recession lasts, while there is an employment downturn and while business is difficult, many of these people will have problems repaying their mortgages. Instead of having their homes repossessed, an arrangement should be made whereby they can retain their homes and continue to live there. All kinds of arrangements could be made through the banks which would allow that to happen. It would make more economic sense because ultimately the State will have to pick up the tab if people's homes are repossessed. It also makes sense from a social and family viewpoint if people are allowed to stay in their homes. I want an assurance from the Taoiseach in this respect. I know he will probably tell me that there are codes of practice, but all these codes are doing is buying time for people. They are just postponing the evil day. There needs to be an assurance given to people who are worried about losing their homes that there will be a moratorium on home repossessions. I ask the Taoiseach to implement that before the NAMA legislation is finally enacted.

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