Dáil debates

Thursday, 18 February 2021

Ceisteanna ar Reachtaíocht a Gealladh - Questions on Promised Legislation

 

12:30 pm

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)

I am told there is no date yet for that Bill but I will take up the matter with the Minister for Finance today when I speak to him. We need to be frank and honest with people. Banks have a responsibility to engage in prudent lending and they should only lend money to people or businesses where there is a reasonable confidence that they will be able to pay it back. The Deputy talked about the banks being helped out in the past and the reason they had to be helped out or bailed out in the past was because they lent a lot of money to a lot of people and businesses that could not pay it back. It is not in anyone's interest for us to have a repeat of that. Because people have lost their jobs and because so many people have seen their incomes fall, the truth is that there are people who might have been able to service a loan a year ago who might not be able to now or in a year's time. We need to be honest with people about these things.

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