Martin Kenny (Sligo-Leitrim, Sinn Fein) | Oireachtas source

I thank the Minister, and I congratulate him and the Minister of State on their appointments. This issue cuts across many of the things that affect people the length and breadth of rural Ireland. Many people are in significant debt, aside from those in the agricultural sector. A lot of this debt, which may put large amounts of farmland under the hammer and allow it to fall into the hands of vulture capitalists, was generated not on farms but elsewhere. Unfortunately, in many cases farms were put up as collateral and are now falling foul of such agreements.

While I welcome the Minister's proposal to meet the CEO of the bank concerned, I urge him, prior to the meeting, to write to the CEO and implore him not to proceed with any sale of land. Many of the people affected are seriously concerned that this agricultural land, which is valued at up to €100 million, will go out of the hands of people living in the State and be bought by vulture capitalists from other countries.

It is vital that the Minister take a hands-on approach. Agricultural land that belongs to the people of Ireland should remain in Ireland. Everything should be done to ensure that the land is kept in the hands of the people who currently own it. I call on the Minister to implore the bank to ensure that whatever can be done is done.

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