Aideen Hayden (Labour) | Oireachtas source

I thank Senator Craughwell for withdrawing his intention to propose an amendment to the Order of Business. I very much look forward to having that debate on rent regulation in the new year, after the publication of the National Economic and Social Council report. Yesterday, I launched Threshold's annual report as Chairperson of that organisation. The report clearly shows that the current lack of strategy for the rental sector makes it not fit for purpose. Approximately 20% of Irish people now live in rented accommodation and that number will increase in the future. There are too many loopholes in the current legislation allowing for people to be economically evicted. The legislation does not allow for reasonable rent increases and does not allow tenants to make their homes in the rented sector. We cannot ask people to make their homes in the rented sector with a regulatory system that just is not fit for purpose. In the new year, together with our debate on regulation I would like to see a wider debate on strategy for the private rented sector.

Regarding the European Central Bank's decision not to participate in our banking inquiry, I share the disappointment of everybody in this Chamber. It is easy to conclude that this country is indeed being given the two fingers. The matter came up at the finance committee and the Governor of the Central Bank, Mr. Patrick Honohan has indicated that he would make full and frank disclosure to the committee, to the point where he believed they would not be left lacking any information and would not be in a negative position because of the failure of ECB representatives to appear. I hope I am paraphrasing him correctly. I have found Mr. Honohan to be an honest and very forthright person in the past and I look forward to his evidence to the banking inquiry. I wish the inquiry every success.