Michael Mullins (Fine Gael) | Oireachtas source

I join my colleagues in welcoming the farmers of Ireland to Dublin on their important mission.

The people outside the gate represent a vibrant and thriving industry that has the potential to dig us out of our economic difficulties. There is confidence in agriculture and today's announcement by the Kerry Group is further evidence of a thriving and vibrant industry. The forthcoming CAP negotiations will be very significant and the farmers are fortunate to have a Minister of the calibre of Deputy Coveney representing them at the negotiating table. I have no doubt that the outcome will be to the benefit of Irish agriculture.

I echo the call for a debate at the earliest possible convenience on banking and support part of what has been said by Senators on the other side of the House. However, there are other areas of banking that we also need to review. The mortgage interest rate increases are unacceptable. We have also had the recent discovery of the mis-selling of insurance products by the banking industry. A significant number of people were forced into buying a product they did not need and from which they could derive no benefit. The recent Ulster Bank fiasco can be thrown into the mix. The recent Credit Review Office report showed that 100 cases were overturned where the banks refused businesses badly needed finance. Those matters warrant discussion in this House. From time to time there has been overcharging of customers. We have reached a stage with banking that this House needs to debate and discuss it. We need to hear from people at management level in the banks about how they are running their business, how they are making so many mistakes and how they can justify their recent significant increases in mortgage interest rates.