Marie Moloney (Labour)

I welcome the Minister of State to the House. Last week, I requested the Minister to attend the House to discuss an issue that is directly caused by the high rate of unemployment across the country, namely, young couples facing eviction from their family homes due to an inability to pay mortgages. Senator Byrne may say it is not related to the Bill, but it is; it is related to the national unemployment rate. The Minister of State will be aware that a large number of young couples, many with young children, through no fault of their own, are in serious difficulty with mortgage repayments. Some people have had their mortgages protected for a year, but that year is now up for most of them. The difficulties facing people in the recession include unemployment, reduced working hours, pay cuts and increased levies. The self-employed are also being hit by such problems, which result in substantially reduced household incomes. As a result, people are being catapulted into mortgage arrears.

While I welcome the jobs initiative, I fear it will move too slowly to get people back to work and save family homes. The number of people being forced to sell their family homes is escalating daily. It is annoying that the banks, which are now turning the screw on such families, are the very same banks that have been bailed out to the tune of billions of euro. The market value of most people's homes has dropped by over €100,000 so they will now be left in negative equity. They will still have to pay back the €100,000 but will have nothing to show for it. The same people are expected to pay for this country's bail-out. I believe in social justice, as I am sure the Minister of State does, but where is the justice in this?

I can cite facts and figures regarding repossessions, mortgage arrears and negative equity, but I would only be wasting the Minister of State's time because she already knows the statistics. I want to speak about the human side of this situation and the terrible effect it is having on families. Many people in negative equity will never be able to buy a house again and will probably be blacklisted. Their only option will be to go on a social housing list and apply for rent allowance. Why not establish an assessment procedure before they have to give up their homes? Where people can demonstrate a genuine inability to pay, why not introduce a scheme where rent allowance can be paid to help save the family home, thus keeping a roof over their heads? Such a scheme would keep people off the social housing list and when they are in a position to do so, they could take over the full amount of the mortgage again.

Many young couples are desperately trying to keep their troubles hidden from their family and friends because they feel ashamed at the prospect of losing the family home. We must help them, but I am fearful of the effect this Bill will have on them. Some people are so desperate to meet their mortgage repayments that they are letting out the family home and renting cheaper accommodation for themselves. I ask the Minister of State to consider introducing some income tax breaks for these families.

This week, it was announced that emigration to Britain was up 25% last year, at almost 14,000. The last thing we want in this country is another flight of the earls.