Dáil debates

Tuesday, 27 March 2018

Other Questions

Mortgage Book Sales

5:25 pm

Photo of Joan BurtonJoan Burton (Dublin West, Labour) | Oireachtas source

During my time in the Department of Social Protection, I invited the Vincentian Partnership for Social Justice to calculate separately the minimum amounts a family needed to live on, including the retention of special social welfare allowances, which many banks initially wanted to reduce or relieve families of in their entirety. I am glad the Minister agrees.

In an earlier reply, the Minister referred to the arrangements for Anglo Irish Bank whereby the €3 billion annual payment was changed overnight. He was not a member of the Cabinet at the time but he was a member of Fine Gael, which took the courageous action to which I refer and which did not meet with a great reception from Brussels. As a result of that action, we actually resolved that problem. It was one of the key things that allowed Ireland to kick-start its economy. I understand all the difficulties outlined by the Minister but there comes a point when one cannot stand aside. He must make a decision in favour of the mortagees who are so indebted and who are facing such great difficulties.

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