Enda Kenny (Mayo, Fine Gael)

In the past half an hour or so, the report of the independent group on mortgage arrears and personal debt has been published. The report shows clearly that the reckless management and incompetence of the Government are now casting aside the approximate 33,000 people in mortgage arrears and the 250,000 in negative equity. The strain, anxiety and pressure on these people are difficult to understand or estimate and are far removed from the thinking of the Government. One of the only recommendations of the report is that both borrowers and lenders should act in good faith at all times. It is clear from the report that there will be no NAMA for those in negative equity and no sweetheart deals for those in either mortgage arrears or negative equity. This is a clear and deliberate contrast from the treatment meted out by the Government to both Anglo Irish Bank and NAMA itself. Greed and incompetence drove a situation where two independent banking reports indicate that 75% of our problems were caused by mismanagement and incompetence at home by Government.

In view of the fact that 250,000 people are faced with negative equity and over 30,000 are in mortgage arrears and in view of the fact that last week the Taoiseach admitted that over €20 billion pumped into Anglo Irish Bank has gone into a black hole and will never be seen again and that, apparently, this will be followed by a further €6 billion, €8 billion or as yet undetermined amount, will he confirm that there will be no further moneys pumped into Anglo Irish Bank? In respect of NAMA - which the Minister for Finance said would provide a wall of cash for business and provide a profit of €4.8 billion - what is the Government's estimate now of the hundreds of millions of losses that may well accrue from it?

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