Alan Shatter (Dublin South, Fine Gael) | Oireachtas source

I will respond briefly. If the figure of ¤60 per month for disposable income is to be changed, it will be done by regulation. There is a little confusion in the context of this issue. The ¤60 is ¤60 that is left after one has the money required for reasonable living expenses. I admit it is a monthly sum. In the context of the legislation - I am not comfortable using this language because I am conscious that anyone caught in this situation is in great financial stress - it is much more generous to debtors than similar legislation in other jurisdictions, although I am sure no debtor will consider he or she is being generously dealt with.

In a sense they are because the mechanisms are designed ultimately to write off debt for which they would otherwise be liable. In the general provisions relating to debt relief notices, assets to the value of ¤6,000 are not even regarded as assets for the purposes of determining eligibility for the debt relief notice. Some of those assets would be taken into account as being assets in other jurisdictions. While I appreciate the Senator's concerns, as I said and believe he agreed with me, none of us professes to have a monopoly of wisdom in this area. We believe the structure provided for in the Bill is the appropriate one for dealing with these issues.