Carol Nolan (Laois-Offaly, Independent) | Oireachtas source

I am shocked by the Tánaiste's lack of understanding of this issue. These vulture funds are ruthless. I know farmers who are doing their level best to engage with the financial institutions, but these vulture funds are faceless entities. I am shocked that the Government is happy to let them run riot and cause misery and distress to people. I am not for one second saying that we should not get people to pay their debts. There are, however, people who are genuinely trying their best and they are not being afforded space or fairness.

Solutions were put forward on this matter. My colleague, Deputy Mattie McGrath, was involved in tabling legislation relating to vulture funds several years ago. The IFA has also stated that the first thing needed is regulation of the vulture funds. The Tánaiste is stating that such regulation is not needed. I do not think he understands the gravity of the situation in rural Ireland. As the IFA has observed, it is simply unacceptable that farmers who gave security to long-standing institutions and pillar banks can have that security sold to faceless entities that may not be answerable to anybody. I am asking the Tánaiste to ask the Minister for Finance if he will roll out meaningful protections for farmers, because there are no real protections. That Tánaiste and his Government cannot stand over this ruthless land grab.

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