Eamon Ryan (Dublin South, Green Party)

Banks must consider a change in terms and in mechanisms. We have given a clear commitment towards introducing that type of system here. We have also recognised that we need to go beyond that and beyond the Labour Party motion as set out. We must take up the very good advice from the Law Reform commission with regard to wider changes within the area of our debt management and solvency system. We must get away from a court-based system that works for no-one and introduce the type of arbitration and mediation services into debt management that will help people through a difficult phase. That approach would be far better for the country.

It is not right in these difficult times to try to put people down for 12 years under old 19th century debt, solvency and bankruptcy laws. It would be far better to help them manage through that phase and get back on their feet and working again. That is what we have committed to in the revised programme for Government. We have committed to taking up the recommendations which have been presented in detail and thought through by the Law Reform Commission.

Obviously, the attention of the House has been drawn to the legislation and to the difficult issues that must be addressed, but make no mistake, it would be remiss of us to neglect the decisions that must be taken for the people on budgeting and banking areas. We are as equally committed to protecting individuals who are in debt, restoring confidence in the country and getting people working again, which is our first objective in Government.

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