Frances Fitzgerald (Fine Gael)

I support Senator Bacik's desire to see the framing of the Bill made stronger, but it seems from this discussion that we need to see the guidelines to assess whether they will address some of the issues raised in the debate. For example, Senator Boyle spoke about strategies to direct investment or fiscal policy in particular areas, while Senator Harris wondered whether it was higher areas of fiscal policy that needed to address this issue. We need answers to these questions. Within the NAMA structure will we be able to deal with the issues of those in negative equity who are experiencing major difficulties with their repayments? I am not suggesting we direct banks in the minutiae of their lending, but I am questioning whether a direction can be given, influence can be exerted and policies developed in dealing with this problem facing thousands of people throughout the country. If we are not able to impact on lending policies or have mechanisms put in place to help them via the guidelines in NAMA, let us be honest about it and identify where the Government needs to develop fiscal policy, bring forward further regulation and go for the credit mediator. This has not been done in the debate on NAMA. What will be the impact of the guidelines? Do we need to move somewhere else outside NAMA to address these issues? These are critical questions.