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

The banks have already been recapitalised to do that, so it is not a significant threat.

Will the Minister accept that at the core of the mortgage crisis is the issue that people's incomes have dropped substantially? Some of this has happened because of unemployment. For others, it is because the Government's budgetary polices have picked their pockets of disposable income. Will the Minister accept that each year his budgetary polices are making the mortgage crisis worse? Taking people's disposable income means a reduction in the money they would spend in the domestic economy and how much they can pay on their mortgages.

One only has to look at some of the measures the Minister introduced. There have been increases in motor tax and the duty on alcohol and cigarettes. The new family home tax will crucify people. There will be water charges coming down the line. All of these are adding fuel to the fire.

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