Jerry Buttimer (Cork South Central, Fine Gael) | Oireachtas source

I thank Deputy McGrath for putting the motion before the House. I concur wholeheartedly with Deputy Maloney. As Members, all of us should govern and act on behalf of the people not on behalf of a chosen few.

Again today we witnessed good news in our country and economy. More people are at work. There is an increase in the number of gardaí to be recruited. More funding is to be provided for public and social housing. These are positive developments that will affect the lives of our citizens in an influential way.

We must ensure that we keep people in the family home. That is our task and duty. I encourage the Minister for Finance, Deputy Noonan, to meet the Central Bank Governor, Professor Honohan, to impress upon him the urgency of the situation and the need to give our homeowners a break.

I welcome the fact that the Economic Management Council is meeting the banks. I hope they will put in place a plan to bring about a resolution in this case.

The area of mortgages is one where we have a great deal to work on as a Government and as a country. We must ensure that the 0.25% taken off the variable rate and passed on by some banks is passed on by all the banks. I agree with Deputy Mitchell O'Connor. It is not good enough that in some cases this has not happened.

This debate is important. It is a pity that in some cases the members of the Fianna Fáil Party were not as concerned five years ago about our fellow citizens. As Deputy Maloney said, events could have changed and we would not be where we are today.

Having said that, we need to have an honest debate on the matter. I agree with the Acting Chairman, Deputy Twomey, who is Chairman of the Joint Committee on Finance, Public Expenditure and Reform. Representatives of the banks should be before the finance committee of the Houses rather than anywhere else. They should be accountable to the elected Members, who represent the people.

Clearly the banking sector has undergone significant change. Everything is not fixed and everything is not perfect. However, each of us have been contacted by people in our constituencies on the issue of mortgage arrears and the other issues being debated tonight. It is important for the banks to remember that it was the people who bailed them out and helped to salvage the banking sector.

They now have an obligation and a duty to be responsible and to work with people. I mean that as a constituency politician who engages with banks every week. It is unacceptable for banks to think it is business as it was before under Fianna Fáil. It is not, and it can never go back to that way. Those in mortgage arrears and those experiencing problems require assistance. It is not acceptable that banks can attempt to profiteer at the expense of the Irish people. What we need, as we all agree, is a fully operational banking system. However, the banks must work with the people to keep families in their homes.

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