Mary Lou McDonald (Dublin Central, Sinn Fein)

The Taoiseach has said that the mortgage crisis is the single biggest issue facing our people. One would never guess that looking at the level of inactivity of the Government on the issue. Fine Gael promised a lot when it was in opposition and promised a lot in its programme for Government. The Taoiseach said his Government would pursue a radical approach to protect families in fear of losing their homes. He is correct that the individual circumstances of mortgage holders differ. However, the common thread is the gnawing fear families have that they will lose their homes.

We are 14 months into this Government and it has delivered the Keane report. That was seven months ago and there has been precious little else. For people who find themselves in mortgage distress, it is of little comfort to them that the Taoiseach has established a Cabinet sub-committee. The Taoiseach says he wants to establish the scale of the problem. The figures are out there. Some 15% of mortgage holders are now seriously distressed. That works out to 115,000 households. The Governor of the Central Bank, Patrick Honohan, has told us that 25% of all mortgage values are either in arrears or have been restructured. That is the scale of the problem, and well the Taoiseach knows it. Under these circumstances why has the personal insolvency Bill been delayed? Is the Taoiseach allowing the banks and the troika to set the agenda on this matter? When will the Taoiseach be decisive in putting distressed mortgage holders before bankers or his friends in the troika?

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