Enda Kenny (Mayo, Fine Gael)

Every Deputy has met people who are stressed and have mortgage concerns. Some of the people in question have been left bereft as a result of a death or an accident that took place without arrangements being made for such an eventuality. Other people are in difficulty with their businesses and are really strapped because of the conditions they entered into. We want to try to help people who are having serious problems with their mortgages. I do not have €14 billion to write off all the mortgages that are in difficulty. We are trying to consider the best of all the propositions and produce a set of decisions that will help the maximum number of people. I hope Deputy Higgins will make a good contribution to that process.

I will respond to the Deputy's comments about the European situation. Obviously, the negotiations that were conducted by Ireland and its European colleagues have resulted in serious savings for the Irish taxpayer arising from the interest rate reductions. The Deputy is aware that we are pursuing the possibility, as outlined by the Minister for Finance, of being able to do something about the promissory note that was signed off on. The Deputy will appreciate that the €3 billion which has been committed every year for ten years would help the Government to focus on job initiatives, enterprise and employment. Clearly, there is scope for serious savings to be made by the Irish taxpayer in that area. We will pursue it at every possibility.

See this speech in context