Alan Shatter (Dublin South, Fine Gael)

A number of Deputies raised the issue of the development of reasonable living expenditure guidelines in the context of the insolvency process. I agree that this is an important element of the process. I also agree with those Deputies who noted the difficulty of setting down definitive amounts to apply to all cases, when we know that insolvency must be dealt with on a case-by-case basis. The issue of guidelines will have to be addressed. I would take a particular view of any financial institution that adopts a practice of concluding that the funds to be retained by an individual for living purposes should equate directly with what he or she would receive on social welfare. An individual who is earning an income must have the capacity to retain a reasonable lifestyle and to be rewarded for the work he or she does.

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