Seanad debates

Tuesday, 14 October 2008

Photo of Fidelma Healy EamesFidelma Healy Eames (Fine Gael)

This is budget day and I believe the Minister for Finance, Deputy Lenihan, has very important decisions to make. Our economy is in deep financial crisis due to collusion between big developers and the banks, supported by the Government, all for their own benefit. These people will now be allowed write off their own losses at the taxpayers' expense and at the expense of PAYE workers and young families who now face 100% plus mortgages and 40-year life commitments. These are the victims of reckless practice by company directors and reckless lending by banks. Although hard to say, it must be pointed out that Government greed and irresponsibility have allowed this.

What will the Minister for Finance do today for the committed mortgage holder who is now in difficulty and who, as Senator Coffey said, is now facing repossession of his or her home? We saw this happening in the High Court yesterday. This is a very serious situation and it is not the first time it has happened. New buyers need help and we will help them by letting the market fall. It is the committed mortgage holder, however, who needs assistance.

We should spare a thought today for the Health Service Executive and hope it will start to listen and to learn. We heard today that the HSE issued a press release noting that its contract with pharmacists was illegally breached. Now they will be reimbursed. When will the Minister for Health and Children, Deputy Mary Harney, and the HSE start to listen and learn? Time and money have been wasted.

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