Maurice Cummins (Fine Gael) | Oireachtas source

The Leader of the Opposition, Senator Darragh O'Brien, raised a question about Mr. Duffy, the former CEO of AIB, going before a committee today. I prefer to wait and see what Mr. Duffy has to say before commenting on what he might say. I reject totally the assertion that the Government has done nothing to help people in mortgage arrears. More than 110,000 accounts were in arrears at the end of the fourth quarter of 2014. That represents a decline of 6.4% compared with the third quarter of 2014 and a decline of 26,000 accounts over the course of 2014. Almost 115,000 mortgage accounts were classified as restructured at the end of 2014, which represents an increase of about 30,000 accounts over the course of 2014.

The number of very long-term arrears is a matter of major concern for the Government. However, it is important to note that the latest data from the Central Bank show that the number of arrears in excess of 720 days, in terms of the marked banks, dropped in the fourth quarter for the first time. The Government wants to maximise the ability of mortgage holders in very long-term arrears to afford their mortgage and retain ownership of their homes, or if they cannot, to have viable and easily accessible options available either to stay in their house or to have access to alternative housing.

As Senator Zappone mentioned, the Minister of State responsible for social housing, Deputy Coffey, was in the House in February. He is doing everything possible to ensure we have the housing programme up and running in every local authority area, particularly in the Dublin local authorities where there is greater need. The Government hopes it has the full support of councillors and the councils in those areas in providing these houses as a matter of urgency.

Senator Bacik mentioned the public health (alcohol) Bill. I will try to find out when we intend to take the legislation. I hope, as a result of requests made yesterday, that we will have a debate on drug and alcohol abuse with the Minister for Health in the first week of May. The matter was raised by Senator Darragh O'Brien and others yesterday.

Senator Mooney mentioned bankruptcy. As he will know, the duration of bankruptcy was reduced from 12 years to three years last year. The duration will be reduced to one year if the Government decides it is the best course of action for everyone involved. The Government will make the decision in early course.

Senator Comiskey mentioned the proposed visit by Prince Charles. Yesterday, the visit was welcomed by several Members in the House.

Senator Zappone mentioned the number of children becoming homeless and stressed the importance of building new social housing. I can assure her that all options are being considered by the Government and that the affordability issues will be addressed. The Minister for the Environment, Community and Local Government will make a statement on the matter in the next couple of weeks.

Senator Keane mentioned the importance for women of taking folic acid before and during pregnancy. She called for a public information campaign on the issue and I give her full support in this regard.

Senator Ó Clochartaigh called for an inquiry into the sale of Siteserv. Clearly, information on the issue is out in the public domain and there is no question of hiding anything. In March 2012, the board of IBRC met and approved the sale of Siteserv. Under the relationship framework that was in place between the Minister for Finance and the bank at that time, which has been in place since July 2009, the board of IBRC was required to engage with the Minister for Finance on certain key issues, which included any material acquisitions, disposals, investments, realisations or other transactions other than the ordinary course of Anglo Irish Bank's business. It should be noted that the relationship framework did not include any specific monetary thresholds which would trigger mandatory consultation with the Minister for Finance. It should also be noted that, at the time, the ordinary course of the bank's business was to conduct an orderly rundown and ultimate liquidation of the bank.As such, IBRC's efforts as a secured lender to maximise the recovery on its loans to Siteserv was considered to be in the ordinary course of business. For that reason and under the relationship framework in place at the time, IBRC was not required to consult with the Minister for Finance on this matter in advance of making a decision to approve the sale of the company referred to by Senator Ó Clochartaigh. There is a lot more to be said on that matter but I can assure----