Mattie McGrath (Tipperary, Independent) | Oireachtas source

My speaking time will be shared with three colleagues. I also support the motion. There was discussion last night with the new Minister in whom I have great faith. I hope he is listening because the banks in Ireland are not functioning across the board. This is crucial for anyone seeking a loan or some reprieve during these times of Covid. The banks are so arrogant that they are trying to get away with overcharging, refusing loans and withdrawing approval for families to build houses. How, during this Covid crisis, will we ever get our people housed?

Deputy Naughten spoke about the regulator and financial watchdog being separated from the Central Bank. We need banking legislation, full stop. From what I can see, there is very little banking legislation. Legislation is in place for all of us in many areas, as are various amendments and statutory instruments, but the banks have free rein to do what they like and they do what they like. A former Member of this House who is also a former MEP is now acting as their PR spin doctor. It just goes on and on. It beggars belief how successive Governments, including the Government of which Deputy Kelly was a member, allowed the banks to do what they wanted. It is time we had real legislation and real regulators, not the toothless people who are there now and do not support the people.

Many landlords are good, accidental landlords who own one or two houses. I will not allow all landlords to be demonised as bad people. We need good people in the market but we need to deal with the banks because they are not functioning. They need to function to allow people who can repay mortgages, regenerate houses or pass them on to do so.

The fair deal scheme also needs to be looked at. There are many issues involved but the banks must be tackled in the first instance.

See this speech in context