Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

This Administration has been in office for almost two years and the Taoiseach has indicated that he is glad the figures are not rising. Each day 115 people fall into mortgage distress. This is an absolute crisis. As already stated, the Government has been in power for almost two years and it continues to refer to the Personal Insolvency Act, the provisions of which have yet to be implemented. Perhaps the Taoiseach will enlighten us as to when people will be able to access the services for which provision was made under that Act.

The Governor of the Central Bank has indicated that banks do not have the necessary processes in place in respect of this matter. Yesterday, the chief economist of the Central Bank stated that the banks are dragging their heels and that they are actually incentivised not to restructure debts. The Minister for Finance, who is sitting next to the Taoiseach, is the owner of one of those banks - namely, Allied Irish Banks, AIB, plc. Deputy Enda Kenny is the Taoiseach of this State, which owns AIB and which is a major shareholder in Bank of Ireland. Has he sat down with the chief executive of either of those banks and stated that he wants a targeted restructuring of unsustainable mortgages? That is a simple question. Some 180,000 people - one in four of the entire population - have mortgages that are in distress. Each day the mortgages of a further 115 people fall into distress.

What is the Taoiseach doing about this matter? What is he doing to live up to the commitment he gave the people before the general election and that which is contained in the programme for Government in respect of prioritising the issue of mortgage distress? There has been a great deal of talk, but many - such as the members of the family of four to whom I referred, who have nothing to eat and who turned to the Society of St. Vincent de Paul because they wanted to pay their mortgage - want the Taoiseach and the Government to provide solutions.

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