Darragh O'Brien (Fianna Fail) | Oireachtas source

It is welcome that the Leader has set a time limit on the debate on Second Stage in order to ensure it concludes at a specific time and will resume tomorrow. I have a degree of sympathy for Senator Rónán Mullen on the amount of time given per speaker on Second Stage, but that issue could be dealt with by way of an amendment to the Order of Business if the Senator wishes to table one.

On behalf of the Fianna Fáil group, I welcome to the Chamber the ambassador of El Salvador, Mr. Werner Matías Romero, who is very welcome. We look forward to working with him. As the President is due to visit El Salvador later in the year, it is a pleasure to have the ambassador here today.

On successive days in the past three weeks I have asked for time to be set aside to debate the new statutory code of conduct on mortgage arrears. I will again table an amendment today that one hour be set aside for the Minister for Finance to come to the House to discuss the new code.

I have stated time and again that the situation has now reached crisis point. One in four mortgages are either in arrears or have been restructured. My request to the Leader relates to the Central Bank pilot scheme to help debtors. Only three weeks ago the Money Advice and Budgeting Service, MABS, had agreed to work with the Central Bank on the pilot scheme. I note from media reports yesterday and today that MABS has pulled out of the scheme. The pilot scheme was to deal with 750 households in difficulty with both private and mortgage debt. It is concerning that MABS has now pulled out of the scheme. I understand the Central Bank is now looking for other interested bodies, specifically an English debt management agency, to participate.

I do not believe this is the way a pilot scheme should be run. Certainly, I am of the view that MABS has the expertise, experience and knowledge to work on the scheme. The Leader may not have the answer here this afternoon but what I really want to know is why MABS has decided to pull out of the scheme. Has the Minister for Finance been advised by the Central Bank on the reason the Money Advice and Budgeting Service has withdrawn from the pilot scheme? I am asking because if it is down to resources with MABS or the composition of the pilot scheme, then it is concerning. There may be another reason but either way we are entitled to know. Effectively, this means the pilot scheme on debt relief and working through debt management plans for citizens has now stalled. The pilot scheme has stalled and is not running now.

We have not been allowed to debate the code of conduct on mortgage arrears, which is open season on those in mortgage arrears. Many Members on the Government side share my concerns. All I am asking for, in the time we have left in this session, is to set aside one hour for the Minister for Finance, Deputy Noonan, to come to the House. Perhaps he could set me right about why I should support the new code of conduct on mortgage arrears and maybe he could.