Mattie McGrath (Tipperary South, Independent) | Oireachtas source

I join in the concerns expressed about this mean-spirited cut. I recall what the Minister, Deputy Burton, had to say when on this side of the House on the night of the introduction of the bank guarantee, and many other times since. Those memories are not happy ones. At that time the leader of the Labour Party was promising to burn the bondholders.

Many speakers have referred to the 100,000 people that will be affected by this cut. I believe it will affect many more people, some of whom are proud and continue to struggle without telling anyone, hoping their situation will improve and that they will be able to keep paying to keep the roof over their heads. This Bill also introduces cut to benefits for under 25s living at home and many other cuts. Two pieces of other legislation were recently passed by this House, the first of which overturned the Dunne judgment on the repossession of homes.

We lifted a cap put on banks and other institutions, which are now terrorising people with extra phone calls and other contacts.

When we put all these things together, it is a tragic situation. People want to trade out, but the banks will not talk to them. They fooled us all into voting for the bank guarantee. I said I voted for it and I made a profound mistake. We were completely fooled and blindfolded. I know the Minister voted against it, but I voted against the bailout because it was a clean out. They have codded us all and they are still codding us and are not dealing with people. The Minister knows that, as does the Minister of State and everyone else from dealing with these issues in their constituency. Deputy Donnelly pointed out that this measure was futile for some people, but it kept other people in the game. However far behind they were in the game, they were on the pitch. This is really putting them off the pitch and it is a severe blow. I would hate to refer to the Minister as a wonder woman, because I think she will be remembered in history as a blunder woman. I know she is fighting a lone corner with her own colleagues in the Labour Party and she especially has no support from Fine Gael, but this is the last straw. What message is it sending out when we see the bankers laughing at us all the way to the bank?

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