Diarmuid Wilson (Fianna Fail) | Oireachtas source

I welcome the Minister and the Lord Mayor of Dublin, Oisín Quinn, who is in the Distinguished Visitors Gallery. I was delighted to meet him earlier.

Fianna Fáil supports this important Bill. I pay tribute to Ms Jillian Godsil who brought the case arguing that legislation banning her from contesting the forthcoming elections was in breach of her constitutional rights. I very much agree with her. I also agree that the legislation is long overdue and should have been brought forward many decades ago.

Unfortunately, debt is not a new concept. Sadly, during the past six or seven years it has marred and tortured the lives, minds and families of many ordinary, decent people who did nothing wrong when they borrowed money in an open lending culture to improve their homes or create or expand businesses, thus creating employment. They also borrowed money to better the lives of their families and, often, the wider community from which they came. Bankruptcy should not be a punishment, as it still is, despite our recently amended legislation compared to the legal protocols abroad, to some of which the Minister alluded. Bankruptcy should focus on assisting the two main parties, namely, the creditor and the genuine debtor. It is remarkable that as far back as 1934, 80 years ago, the American Supreme Court ruled that bankruptcy "gives to the honest and unfortunate debtor ... a new opportunity in life and a clear field for future effort unhampered by the pressure and discouragement of pre-existing debt". That is a very enlightening and important quotation from 80 years ago that is very relevant to this day, especially here. In Ireland, as some speakers have said, although we are on the way to changing our attitudes to bankruptcy, we are not there yet. We now see it as a fresh start for people who are, by and large, creators of wealth and jobs or ambitious home-makers. Bankruptcy must be a starting point for new opportunities. How could it be fair that parliamentarians with commercial skills and ambitions used in good faith should forfeit their careers because of honest endeavour? I very much welcome the legislation and congratulate the Minister on bringing it forward. There are other anomalies regarding other professions and callings where it is mandatory or inferred that being judged a bankrupt demands resignation or disbarment. Legislation should also be brought forward in this regard.