Debate resumed on amendment No. 1:To delete all words after "Dáil Éireann" and substitute the following:"acknowledges that this Government inherited a severe mortgage arrears crisis; recognises that the Government has already taken a number of significant steps to address the mortgage arrears problem and also to stabilise the banking and wider economic situation; in particular, acknowledges that the present Government established the Inter-Departmental Mortgage Arrears Working Group and subsequently published the Group’s Report in October 2011; notes that the Report indicated that the mortgage arrears problem is complex and that a range of measures, such as personal insolvency reform, the development of mortgage to rent, the provision of mortgage advice, direct engagement by banks and the development of sustainable options by banks for their customers who are experiencing mortgage difficulties, will need to be advanced to address the problem; recognises that the Government has moved to implement the main recommendations of the Report and that a special Government committee, chaired by an Taoiseach, is overseeing the implementation of the measures across Government; acknowledges that significant progress has now been made on this implementation agenda, including the fact that:— the Personal Insolvency Bill 2012, which introduces new insolvency frameworks to allow for the resolution of unsustainable debt situations in a manner that is as fair as possible to debtors and creditors, has been enacted; — the Central Bank has obtained mortgage arrears resolution strategies and implementation plans from regulated mortgage lenders; — the Mortgage to Rent Scheme is now available across the country; and — a mortgage advisory function is now in place;encourages the Government and other authorities to continue this work; in particular to bring the new insolvency frameworks, as provided in the Personal Insolvency Act 2012, into operation as soon as possible and to enhance action by mortgage lenders to appropriately address unsustainable mortgage loans; notes the statement by the Governor of the Central Bank of Ireland at a recent conference on distressed property markets that, having ensured that the banks are much better staffed and organised for dealing with arrears, the Central Bank will be setting out its quantitative expectations for their effectiveness in achieving lasting solutions; notes the Government commitment to responding more quickly, and on a larger scale, to social housing support needs through a variety of mechanisms, including through increased provision of social housing and a restructuring of investment in social housing, to allow for the delivery of new social housing through more flexible funding models; supports the Government in developing new funding mechanisms that will increase the supply of permanent new social housing, including options to purchase on lease agreements, build-to-lease and the sourcing of loan finance by approved housing bodies for construction and acquisition; acknowledges that the National Asset Management Agency (NAMA) has identified in excess of 2,000 units that are suitable for social housing and are working with housing authorities to bring these into beneficial use for those in need; supports the Government’s overall housing policy statement; in particular, that a priority for Government action will be to meet the acute needs of households applying for social housing support, and in that context, notes and supports the Government’s continued commitment to meet the accommodation needs of Travellers; and notes that the Government’s overall social housing programme is framed in a manner which both optimises the delivery of social housing and maximises the return from the scarce resources available for that purpose." - (Minister of State at the Department of Foreign Affairs and Trade, Deputy Joe Costello)

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