Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

Somebody suggested a figure of €500. We must remember that what we are doing under the debt relief notice is allowing an individual to have €20,000 of debt written off over a period on the basis that he or she has very limited means and is incapable of paying his or her debts. I remind Deputies again that the creditors may be the local shop which, to remain open, depends on people paying their debts, the local credit union whose members, to maintain the financial viability of the credit union, require that those who borrow money pay their debts, or a local self-employed painter and decorator who did work on someone's home for two or three weeks and may be dependent on getting paid for the work he has done to feed his spouse and children. Let us be realistic about this. One cannot expect individuals who are genuinely owed money and may be placed in financial difficulty if a series of other individuals do not pay to them what they are owed for the supply of services or products to regard as acceptable that the individuals in question are permitted to retain items of substantial value. What we are doing in this area is a good deal more considerate of debtors than what is done in other jurisdictions. Deputies should be clear that no such exemption exists in any other jurisdictions. We have provided an exemption for a single item of personal jewellery of €750 and I have no doubt that if I had inserted a value of €1,500, an amendment would have been tabled proposing a value of €3,000. I cannot go any further on the issue or accept the proposed amendment.

Amendment No. 32, like the previous amendment on jewellery, recalls our debates on the valuation of the exempt motor vehicle in section 24. I remind Deputies that the-----

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