Peter Mathews (Dublin South, Fine Gael)

I congratulate Deputy Michael McGrath on bringing forward this Bill. I commend him, in particular, because he brings his knowledge, experience and qualifications to bear on an area where the country and its people are hurting to a significant extent.

I was delighted to hear the excellent contributions of Members last night. I stayed in the House for an hour and a half and I must say Deputy Michael McGrath's colleagues in Fianna Fáil, Deputies Calleary, Sean Fleming, Browne and Cowen, made excellent contributions in support of his Bill, as did, from our side, Deputies Tom Hayes and Buttimer and Deputy Ciara Conway of the Labour Party, and also Deputy Pearse Doherty of Sinn Féin. What came out of all of their contributions were the human stories and the hurt, tantamount almost to a nervous breakdown, that people are under such pressure. We heard about gas and electricity being cut off, and then these slick guys coming in and taking advantage, by up-front fees, by sloppy advice and by hijacking the perilous position of their clients. It needed to be addressed straightaway.

On why I support the Bill - I note the Minister for Finance, Deputy Noonan, has the amendments on Committee Stage coming through on the Central Bank (Supervision and Enforcement) Bill 2011 - this is really reaching a crisis point and it deserves the utmost attention and to be dealt with comprehensively, including all aspects of advice, money management, money transmission, probity of those involved in these businesses and the correct operation of companies and partnerships, activities addressed both by Deputy Michael McGrath's Bill and by the amendments to the Central Bank (Supervision and Enforcement) Bill 2011.

The Bill encapsulates some of the headline aspects of what happened in the Home Payments Limited case. Customers were using Home Payments Limited for almost 50 years to help them, supposedly, manage their household budget. Last August they arrived at the premises to read a note on the window informing them it had ceased operating with immediate effect. The company collapsed owing its customers more than €6 million. Twenty-three of its customers were owed more than €10,000. Home Payments Limited had used its customers' funds to invest in ten properties. Comments from customers sum up that situation. A customer was quoted as asking who gave them permission to spend his money on anything other than paying bills. Another customer stated that the directors should be arrested because if somebody gave him money to pay a bill and he did not do it, he would be arrested for sure. It is those typical stories that lead me to support the objectives of this Private Members' Bill.

It is an area that must be tightly regulated. I note the Minister will examine the proposals in Deputy Michael McGrath's Private Members' Bill and will ensure its objectives are taken into account in the proposed Government Committee Stage amendments. I congratulate Deputy Michael McGrath for bringing forward the Bill, particularly because it is the area where he has relevant and qualified experience and expertise.

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