Marc MacSharry (Fianna Fail)

Notwithstanding the fact that we had the opportunity to debate some banking issues on Tuesday, will the Leader arrange a debate specifically on regulatory reform of financial services in Ireland? As part of my ongoing work towards the prevention of family home repossessions we have delved into the area of personal debt. I mentioned in the debate the other day that a collector for Provident plc had confirmed to me off the record that its senior staff actively encouraged collectors not to mention the Money Advice and Budgeting Service, MABS, as a possible way of helping people in debt. It is reprehensible that a licensed financial services provider in this country is telling collectors that they should not encourage people to engage with MABS for fear that it might contact it to make a payment proposal. Permanent TSB, which is not under NAMA, has regrettably moved to increase rates. There is an air of inevitability that the EU will raise interest rates. We require legislative reform immediately, along the lines I have already outlined, to protect people against the repossession of primary family homes.