Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

As I said, I encourage people to look at the existing alternatives. Low-cost loans are available from the credit union through the It Makes Sense scheme. I appreciate it is not available in every credit union, but one need not go to the closest credit union nor be a member of a particular credit union to avail of that loan. For people who qualify, there is the possibility of getting an urgent needs payment or an exceptional needs payment if necessary.

I would also consider the interest rate that the Deputy suggested to be high rather than mid-cost and, therefore, I agree with her in that regard. We will examine any legislation she may wish to bring forward. We need to strike a balance here. People ultimately have personal freedom and if we restrict people from taking out loans, that is a restriction on their choice and freedom.

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