Joe McHugh (Donegal North East, Fine Gael) | Oireachtas source

This issue outweighs every other issue currently before us and is the most important issue in the country. I commend Deputy Collins on her introduction of this Bill.

I have less than three minutes' speaking time, which is not enough. This is an example of the ridiculous nature of debate, when such an important issue is constrained by time limits. I will use my time to make that point and to speak about the current situation for my constituents. I can say that my constituents are living in the present tense. There are parallel universes. The commentary is about the deficit in America, the closing down of the American Government this week and the UK's agreement to austerity but not until 2016. We get on with the business of the hard work and the hard measures in this country, where people are still living in the present tense. For example, five or six years ago my constituents were able to talk about how long they had left on their mortgages, but nobody is having that conversation now. People are no longer discussing how many years are left on their mortgages because they are like the rabbit in the headlights; they are living in the fearful present tense. They are worried about the end of the week and whether they have enough money in the bank account to pay the mortgage at the end of the month. They do not dare to think about six months or a year down the line.

The banks have a responsibility to engage in a constructive way with their customers rather than just phoning and e-mailing them. As a public representative acting as a third party I am treated with disdain by some of the banks. They will say that such information is sensitive. I commend the Technical Group on its introduction of this Bill, even though I disagree with some aspects. There should be a better mechanism to allow us, as public representatives and legislators - the messengers of the people - to represent people who are in a hole, and there are a lot of people in that dark, black hole at the minute. It would be a good thing if we could arrange such a mechanism collectively in this House. The perception of the productivity of this House is on the floor.

My last point refers to bankers. Poor bank staff have taken abuse for five years from the public. Politicians are well used to the ire of the public and I will not even mention it but the faceless bankers behind the scenes have got off scot free, and people are angry because of that. We can consider the grandstanding that will come with a proper bank inquiry but people are demanding justice, although they do not want heads on a platter. There must be consequences for the sinister job done to this economy from the early 2000s to 2007 and 2008.

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