Jim D'Arcy (Fine Gael)

I welcome the Minister of State to the House. I was impressed by his speech today and by his commitment to try to work to solve some of the problems with mortgage arrears. In this sense I welcome the Keane report as a first step in dealing with people who can afford no longer to pay their mortgages, such as those with sub-prime mortgages, and those who might benefit from the mortgage-to-rent schemes. These are good for a limited number of people. I have come across many people who would welcome the chance to continue living in their house but who cannot afford to own the House. A remedy has been proposed on a pilot basis and I believe it will work. I am less convinced of the Keane report with regard to those who can pay a certain amount or a substantial amount towards their mortgages and who, if times improve, might be able to pay the lot.

Suggestions have come from outside such as those from New Beginning and others including a man called Ger O'Toole who was in with us. There is scope to improve what is recommended in the Keane report and I welcome the Minister and the Minister of State's commitment to listen to outside ideas. This cannot be solved purely on a case-by-case basis, principally because those dealing with it, that is to say the officials in banks on the end of a phone, are incapable of doing so.

Senator Reilly referred to the refusal of lenders to communicate and this takes a number of forms. They may talk but they are not communicating. This is the problem and I have encountered it while dealing with the issue for many people. One cannot dry the marrow from the bone. It is harrowing to hear of people, including young couples with families, who do not even have €5 to buy a present so that their child can go to a birthday party because they are putting all the money into the repayment of the mortgage. We must do something about it. This is why there is all-party agreement in the Seanad that we will stand together on this issue and help people in distress.

Tá an t-am ag sleamhnú thart. We must concentrate our efforts in respect of the Keane report in the areas I have outlined in order to arrive at an equitable solution for those who find themselves in the dreadful situation to which I refer.