Kevin Humphreys (Dublin South East, Labour) | Oireachtas source

I, too, commend Deputy Willie Penrose on the work he has done on this Bill, about which we had very long conversations at different stages. In his contribution he mentioned the kitchen table. Very good ideas often come from it and often some very strong family decisions are made at it. The ideas expressed in the conversations that took place at that kitchen table found their way into the legislation, for which I commend the Deputy, as well as for his hard work.

I also thank the justice committee for the work it has done in this regard. It reviewed a significant number of submissions in a very speedy manner. I thank all Members of the House. It is a mark of the quality of the Bill and the co-operation received from Independent Members and all of the major political parties that the legislation has been dealt with in such a speedy manner. That a sense of hope and relief will be given to those in bankruptcy will strengthen the hand of those individuals in financial distress.

Many Members mentioned the element of stigma attached to bankruptcy. Bankruptcy is always hard on the individual and his or her family. It is always a hard decision to enter it. Even with this Bill, no one will make a decision to be declared bankrupt easily. It is a very stressful time. Deputy Willie Penrose has mentioned the impact it has on families. There is no shame in it because the only shame is in not trying. We should ensure those who try to set up a small business will have an opportunity to try again if they are unfortunate enough to go bankrupt. We have to make sure we develop an economy that assists entrepreneurs. If they are unfortunate enough to go bankrupt or run into economic problems, they should be in a position to try again. Deputy Willie Penrose and many other Members of the House have reminded us about the many people who went bankrupt in other societies but came back and built thriving businesses that employed many thousands. I have no doubt that unfortunate investors and entrepreneurs who have gone bankrupt will come back, reinvest in the economy and once again give great hope.

The reduction in the bankruptcy term from three years to one is very significant. It is a fundamental change which follows the recommendation of the Joint Committee of Justice, Defence and Equality. I again pay tribute to it for its work under its Chairman. The change will ease the impact of bankruptcy on individuals who have been struggling with unsustainable debt on a much reduced income for several years. The provision for the revesting of the family home where it has not been sold within three years is another practical and humane solution. on which Deputy Willie Penrose and other Members remarked in their contributions.

While I do not have time to deal with all of the contributions made, one point that is significant is that people - 135,000 - are going back to work. This is where I disagree fundamentally with Deputy Peter Mathews. It is not a fig-leaf for any family that a family member has gone back to work. We inherited a situation where 500,000 people, or 15.1% of the working population, were unemployed, but the figure is now back below 9%, which is significant. We have rebuilt a crashed economy. Today we will launch 79 new social housing units.

Tonight, Dublin City Council will announce 1,300 new developments in the city alone.

I agree society faces many challenges. The provision of housing is a significant challenge, as is improving the health service. However, the main challenge faced over the past five years has been the economy and the need to get people back to work. That issue had to be addressed and the Government has done that. I thank the Chair for allowing me this time.

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