Joan Collins (Dublin South Central, People Before Profit Alliance) | Oireachtas source

Why has the Government increased the power of the banks? Why has it increased the power of the banks to harass people and why is it proposing legislation to allow for repossessions? Why is this being prioritised before the personal insolvency agency is up and running? Not a single personal insolvency practitioner position has been advertised. Why are only six of the 15 lenders active in the mortgage market covered by the targets set by the Central Bank? The lenders omitted by the Cental Bank are the most aggressive in pursuing people for arrears. These include Ulster Bank, Bank of Scotland, various sub-prime lenders, Start Mortgages, GE Money and Springboard, whose only interest now is to get out of the Irish market and recover as much as they can. Not a single one of these companies is now engaged in mortgage lending. What they are engaged in is an aggressive operation to limit their losses. A green light has been given to these companies to write to distressed debtors telling them that whatever forbearance they have enjoyed is now ended. They are demanding full payment of arrears; otherwise they must face the threat of court action, repossession and eviction.

The weasel words of Ministers to the effect that repossessions are a last resort are in light of the Government's action in overturning the 2011 ruling of Mr. Justice Dunne. They are just that - weasel words. It sickens me to hear Fianna Fáil Members in the Dáil but it must be remembered that the Labour Party and Fine Gael members in the local authorities were part and parcel of the problem in driving planning legislation through over the past 20 years.

While supporting the motion in general, it should be said I have introduced a Bill for a Friday hearing. It is a very good Bill and I have drawn attention to it before. It deals with the write-down of debt to 110%, which must be done. Even Deputy Joan Burton said this before she was Minister for Social Protection. The radical approach proposed by the Government seems to have been reversed because of the role of the banks.

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