Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

Does the Taoiseach agree that the number of mortgages on private homes in arrears continues to be a source of very grave concern?

The Central Bank has announced that in quarter 2 about 120,000 mortgages were still in arrears, of which up to 90,000 were in arrears for over 90 days. It is worrying that in quarter 2, 1,752 private principal dwelling houses were in arrears for over 720 days, or two years. Does the Taoiseach agree that this is troubling? Behind this, there is a lot of suffering and pressure with which public representatives are familiar in visiting constituents and laying out their books. Their incomes simply will not allow them to make the necessary payments that the banks are demanding. They are living in constant fear of having their homes repossessed. In this light, should the Taoiseach not have taken my advice and that of others to have a write-down of unsustainable mortgages to affordable levels, just as the banks received a write-down on the backs of the people? By comparison, does he not feel ashamed that previous Governments in the 1970s which were right-wing year after year built 5,000, 6,000, 7,000 and in one year over 8,000 local authority homes? Is the record of the Government and its predecessor not dismal in comparison? That construction level is now needed to meet the terrible suffering as a result of the housing crisis. What will the Cabinet sub-committee do about this issue?

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