Maurice Cummins (Fine Gael) | Oireachtas source

That was a bit of a marathon of an Order of Business. Senator O'Brien, Senator Quinn and the last speaker, Senator Walsh, raised the issue of mortgage holders paying over the top for variable rates, and there is no question that that is the case. The Statement of Government Priorities 2014-2016 recognised that promoting and encouraging competition and new entrants into the banking sector was required to put downward pressure on interest rates for variable mortgage customers, both new and existing mortgage holders. The mortgage interest rates that independent financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision by the institutions concerned and the Minister for Finance and the Central Bank have no statutory role regarding the setting of mortgage rates charged.

As the Taoiseach announced last month, the Economic and Monetary Council, EMC, will meet with the main banks in the near future to discuss mortgage distress and the cost of variable rate mortgages. The improvements in the overall economy include a reduction in the cost of funds, an increasing demand for greater competition between the lenders, which has led to a reduction in the standard variable rate offered by the majority of banks for new customers and all standard variable rate customers in the case of AIB. As part of the Central Bank's work on mortgage arrears, lenders were asked to consider all avenues to help customers in arrears, including interest rate reductions.

The issue of regulation of interest rates remains a policy area under active review by Government and has been the subject of correspondence between the Department of Finance and the Central Bank. The Consumer Protection (Regulation of Credit Servicing Firms) Bill will ensure that all mortgage holders in the State will have the protection of the code of conduct of mortgage arrears and access to the Office of the Financial Services Ombudsman.

The actions already taken by the Government to promote competition in the banking sector, including the establishment of the Strategic Banking Corporation of Ireland, the credit guarantee scheme and the amendment to section 149 of the Consumer Credit Act to encourage new entrants to the Irish financial sector, are all helping the system but I will ask the Minister for Finance, as I have previously, to come into the House for a debate on the banking sector. I hope he will accede to that request.

Senator Bacik and Senator Walsh raised the school admissions Bill, which is pending. We had a debate on patronage previously but we will have ample time when that school admissions Bill is brought forward to have a further debate. Senator Ivana Bacik welcomed the fact that the State is buying the buildings at 14 to 17 Moore Street for a commemorative centre for members of the 1916 Rising. The issue was raised on several occasions by Senator Labhrás Ó Murchú who said the State should intervene and buy those properties. I am glad the State has acted in this regard.

Senator Feargal Quinn mentioned the committee on Seanad reform. I believe it is due to report later in April. I hope when the report is published to invite the chairman of the Seanad reform group to come to the House for where we can debate the report with him.

Senator Feargal Quinn and also Senator Terry Brennan raised the issue of the dumping of litter, an issue that was raised yesterday also. It is a major problem. Senator Brennan is right, it is up to each and every person to look after their own litter and not to litter the roadsides and streets of our cities and towns.

Senator Catherine Noone raised the issue of e-cigarettes and a study in the UK and the need for a regulation here. As she stated, they are not sufficiently long in existence to ascertain the maleffects, if any, arising. I am sure the Minister and the Department are monitoring the situation.

Senator Thomas Byrne asked how we are implementing the 1916 Proclamation. I do not know what he speaking about. I do not know what his rant was, especially on the day of purchase of the buildings at 14 to 17 Moore Street and setting them up as a national monument.

Senator Lorraine Higgins and Senator Michael Mullins raised the CE and TÚS schemes and called for a debate with the Minister of State with responsibility for rural issues, Deputy Ann Phelan, on the strategy for rural Ireland. Given the many interesting announcements in recent months in this regard, I am sure she would be willing to come to the House again to discuss that matter.

Senator David Norris raised the issue of the forthcoming referenda and stated that university examinations are clashing with the polling date. I am sure the Ministers for Education and Skills and the Environment, Community and Local Government will take up this matter with the universities. It is important that we have a good turnout for all referenda as turnout has been disappointing previously. Young people who are eager to vote in these referenda should be given the opportunity to do so.

Senator Tom Sheahan raised the matter of public service recruitment and, in particular, at Muckross National Park where the number of guides has decreased from 22 to 11. There is a need from a tourism point of view to increase the number of guides. I am sure the Senator will take that matter up with the Minister.

Senator Terry Leyden raised the issue of the intoxicating liquor Bill and Good Friday opening. That is a matter which will be incorporated into a Bill which will come before the House by the end of the year but certainly not before Good Friday. I am glad the Senator is coming around and has done a complete U-turn on the situation-----