Colm Burke (Fine Gael)

I agree to an extent with Senator Darragh O'Brien that priority should be given to addressing the problem of mortgage arrears. As someone who wears both a political and legal hat, every week I encounter cases of people who want to address their mortgage difficulties but do not have an avenue for doing so. While it is important to implement legislation to address this issue, we must do so carefully and strike a balance because this is a difficult and complex area.

It is important to consider the causes of the current problem. Senator Mullen referred to lobbying and noted that the construction industry appeared to be running previous Governments. Rather than Governments deciding policy, outside interests appeared to decide policy, which was not in the best interests of the country. We must take correct decisions when addressing the issue of mortgage arrears and ensure we establish a proper structure to deal with it.

The other issue we must address is the large number of people who can afford to get on the property ladder but cannot secure the funding they require to do so. As recently as this week, I was contacted by an individual who is unable to get rid of one of two properties because buyers are not available. Money must be made available to those who wish to buy property if we are to make progress on this issue. In the past 12 months, the Government's priority has been to achieve stability and it has done so. It must now give priority to addressing the issue of mortgage arrears in a balanced manner in the next six months. We need to arrive at a solution that allows people to move on with their lives and focus again on their families and jobs. This would benefit all of us. If necessary, we should initiate the relevant legislation in this House.