Ruth Coppinger (Dublin West, Socialist Party) | Oireachtas source

The mortgage to rent scheme would assist some of the people I have mentioned who are literally landing on our streets. I do mean that literally, not metaphorically. Where has it been implemented? How many banks have agreed mortgage to rent schemes? I would wager a handful in the entire country because it does not seem to be sought and I would appreciate it if the Minister of State could give me figures for that.

The Minister of State said that he is acutely aware of the impact of debt on families. When this Government came to power five years ago, one of the biggest issues facing it was mortgage debt but it has done nothing to lift that debt or to ask the banks to reduce the debt. Most people bought houses during the property bubble that were completely overpriced. They are still saddled with 30, 35 and even 40 year mortgages. The Government could have brought in rules for AIB because the State owns it. It could have brought in a policy of no evictions of sitting tenants, if it really is concerned. That policy has not been issued and I think that is because the bank is being fattened up for privatisation. That is why it has been told to purge its loan books of bad debts as soon as possible. It is now implementing rules the Government favours because it wants to sell the bank off, to privatise it, which is a real mistake.

Developers are getting write-downs from the National Asset Management Agency, NAMA, which was never intended to happen. The late Brian Lenihan and the then Taoiseach, Brian Cowen, promised that would never happen and it is happening. There is one law for the rich, the 1%, and another for the ordinary people, the 99%, who get only cutbacks in supports such as the lone parents allowance and get no bailouts from this Government.

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