Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Government is reviewing the tax treatment because of an amendment that I tabled to last year's Finance Bill, but there should never have been a tax incentive for vulture funds, which bought portfolios worth billions of euro and have not had to pay a penny of tax on the incomes they have received or the uplift in property prices or any capital gains tax.

The Taoiseach does not need the details of the cases that I have outlined to know what is happening out there. Cabot Financial Ireland is doing this right across the board. I have raised this matter numerous times in the Dáil. The fact that the Government has not examined it just reinforces the point that, time and again, the Government facilitates vulture funds as opposed to those who are struggling to keep roofs over their heads.

I asked the Taoiseach a question. A number of customers have arrears of less than €3,000 with this vulture fund, yet it is telling them that it not only wants them to clear off their arrears, but also their loans of €170,000 or €190,000 within seven days, and that if they do not do so, it will come for their houses and appoint a fixed asset receiver. That is what is happening out there. The people who are unaware of what is happening - the renters in the house - will get notice to quit and will join a longer waiting list. Some may end up in emergency accommodation.

It is long past time to clip the wings of the vultures. Will the Taoiseach make a call and inquire of Promontoria Scariff, which is engaged in this type of behaviour-----

See this speech in context