Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

It is not agreed. I have to say that the guillotining of this measure is particularly inappropriate. Given what was announced this morning concerning the Bank of Ireland's increase in credit card interest rates and the general behaviour of the banks towards the Government and the Oireachtas on key issues, I appeal to the Taoiseach in this regard. Members of the public feel they are being bled by the banks and that banks are treating the Government, Oireachtas and themselves with contempt. The Taoiseach said earlier that he has written to the financial regulator and is in constant contact but all of that does not indicate any movement or change in behaviour or actions. People do not have the personal disposable income to deal with these multiple charges and a tightening of the screw by banks.

In the Personal Insolvency Bill, the Taoiseach is continuing to give banks a veto on household debt resolution. We think that is a fundamentally flawed position to adopt. Given how the banks have behaved as recently as this morning, I appeal to the Taoiseach to give this House more time to consider these issues with a view to ensuring that banks do not have a veto in resolving household debt issues with clients and customers.

An independent office that could arbitrate between customers and banks, and whose findings would be binding on banks, would be a far more effective route to take. For those reasons we are opposing the manner in which the Government proposes to take the Personal Insolvency Bill in this House.

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