Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

On the latter issue raised by the Deputy, consumer credit debt has a very broad definition. Wearing my other hat, I saw information on debts outstanding to the State, which are somewhere in the region of €400 million, in the non-collection of debts, overpayments of social welfare and a whole range of other things. One could ask whether that should be part of it. In any aspect of codifying the law it is better to take a more streamlined approach rather than doing it piecemeal. We know from our discussions on the Finance Acts that there is an argument for codifying the law, consolidating it and making clear what it means. Were we to accept the amendment, the approach would be piecemeal, albeit - I accept the Deputy's point - specific to one area.

I mean it sincerely that the Minister for Justice and Equality is examining this issue closely and has indicated that he would like to move in this area. The Department of Finance and the Minister for Finance will work closely with him, but he is the lead Minister in this area and has shown a very strong zeal for introducing legislation and reform that he believes is necessary. There is no doubt that the public and private sectors argue for the need to codify the law in this area. The question is whether we do it in a piecemeal or a consolidated way. It is the considered view of the Government that a consolidated approach through the Department of Justice and Equality is the way to go. That does not take from the fact that the Department of Finance which obviously has a huge interest in this area because of the points the Deputy has made will look very closely at and work with him on this matter. I assure the Deputy that that will happen.

On the Deputy's other amendment concerning the fees charged, to be as blunt as possible, I cannot see any reason the fees charged would not be published. That is why that is provided for, as I said, in section 62. Irrespective of that section, there is also within the consumer protection code a requirement for the publication of fees. The Central Bank is not an agency of the State, but it is an autonomous organisation, as set out in statute over many years, and its remit is slightly different. I cannot see a circumstance in which the fees charged would not be published; it is in the interests of consumers, financial companies and those dealing with this area that they would be published. We believe that what the Deputy is attempting, rightly in the context of his amendment, is provided for and we do not see a difficulty in ensuring the fees charged are published in the manner set out in the consumer protection code.

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