Peadar Tóibín (Meath West, Aontú) | Oireachtas source

This weekend, we learned about the AIB write-down for D.J. Carey of more than 99%, which is an incredible figure. It is a jaw-dropping figure. Many people who have experience of mortgage distress, whether it be as a result of illness, the fact that their homes are affected by mica - theirs are mortgages on lumps of rubble - or the fact that they own small businesses, will have been told by their banks that it is impossible to give write-downs in order to reduce the level of debt that they owe. It is very difficult for many people to see what appear to be two cohorts of individuals being treated differently. We do not know the specific details of Mr. Carey's write-down. AIB is to be called before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach to discuss its policy in this regard. However, the Government should have an understanding of the policies of banks, especially those that are, in part, owned by the State. Does the Taoiseach know how many write-downs of more than 90% were afforded to citizens by AIB in the past number of years? The State also has public-interest directors on the board of AIB. Did the latter have knowledge of any write-downs of this scale? If they did have such knowledge, did they impart it to the Department of Finance? Did the Minister for Finance know? We need a banking system that is fair and reasonable to individuals who are in mortgage distress. I would appreciate it if the Taoiseach could comment on this matter.

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