Ivana Bacik (Independent)

They include a State-run insolvency service, a system of debt release certificates for forgiveness of debt for those who have no assets and no income and are unable to meet qualifying debts totalling up to €20,000, a debt settlement arrangement scheme and a personal insolvency arrangement. A series of measures are set out in the scheme.

The joint committee has been told we have a tight timeframe to report to the Minister. We will be having meetings with the Money Advice and Budgeting Service, MABS, and with the Irish Society of Insolvency Practitioners on 15 February and we will be preparing and publishing a report on the heads of the Bill by the end of February. A meeting for that is scheduled for 22 February. Things are moving very swiftly. There is also a need for consultation on the Bill.

My own reaction to the report on trust in the banking system was amazement that as many as 9% of people still have trust in the banks. I thought it would have been closer to zero.

I welcome the news that the first sale of Irish bonds since 2010 was made yesterday by the National Treasury Management Agency, which sold just over €3.5 billion worth of three year debt.