Tommy Broughan (Dublin North East, Labour) | Oireachtas source

The very belated announcement of a 21-day deadline for a resolution of the crucial mortgage and banking elements of the Priory Hall disaster is welcome. However, the whole nation is exasperated by the terrible treatment of Priory Hall owner-occupiers and residents, who are essentially victims of an outrageous fraud. The response of the Government over the past two and a half years, especially the refusal to meet residents, has been deplorable and shocking. The Government often seems to be more concerned about protecting bankers and developers than rehousing and urgently resolving the appalling mess at Priory Hall. On 16 July last, the Minister indicated to me that it was inappropriate for him to comment on the 16-month resolution process. Just a few weeks later, however, it collapsed. It is disgraceful that neither Members of this House nor the residents were kept informed about the process.

More than anything, former residents, owner-occupiers, desperately want a fresh start and to move to new homes. They want to be permitted to transfer mortgages to new homes of their choice and to have existing mortgages written down. At a recent meeting of the finance committee, several of the banks and mortgage providers give their usual harsh and ruthless responses. I welcome the belated positive response of Mr. David Duffy of Allied Irish Banks and Mr. Jeremy Masding of Permanent TSB. The other rescued pillar bank, Bank of Ireland, and the publicly owned EBS must also recognise the unique nature of Priory Hall. IBRC should also be ordered to facilitate Priory Hall families. The Minister has special responsibility to ensure that foreign-owned banks, including foreign state-owned banks such as Ulster Bank, Bank of Scotland, Certus and KBC, also do what is necessary to transfer and write down household mortgages at Priory Hall.

The planning of the north fringe of Dublin city is an ongoing disaster. Former residents and constituents want Priory Hall's main street or boulevard to be demolished and replaced by a new properly built and sustainable development. A figure of €12 million has been mooted by the Minister. I urge him to make an announcement on that.

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