Brian Lenihan Jnr (Dublin West, Fianna Fail)

I note the suggestion made by the Labour Party for the establishment of a national house mortgage service. A clear flaw in this proposal is the over-detailed regulation of normal business activity by lenders. Deputies will appreciate that a balance must be achieved by the Government between influencing private banks through the bank guarantee scheme and other financial support incentives while at the same time being seen to have a hands-off approach to the day-to-day running of these institutions, which must operate on a strictly commercial basis.

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