Feargal Quinn (Independent) | Oireachtas source

I welcome the publication of the European Commission's third report on Ireland since we exited the bailout. In particular, I note the Commission's observation that the standard variable rate charged by banks here is "relatively high". One might conclude, therefore, that the authors are operating under a misapprehension - I am trying to be polite - when they go on to say Irish banks must be given sufficient leeway in setting mortgage interest rates. The Commission has missed the heart of the matter - that the banks have had and continue to have the so-called leeway they need to adjust mortgage interest rates, but they have abjectly failed to do so. The key point in all of this, of course, is that we do not have a normal competitive banking environment. Until we arrive at that point, the banks will continue to take advantage of customers through what I would describe as extortionate variable interest rates. Unfortunately, as I said, the Commission has totally missed the point. That is why we need legislation to compel banks to treat customers fairly. I introduced a Bill some time ago to do precisely that and it is time the Government moved the issue forward.

According to the Minister for Justice and Equality, Deputy Frances Fitzgerald, the Courts Service is to outsource the collection of fines. The number of people jailed for non-payment of fines last year was 8,140, 775 more than the number imprisoned in 2013 and an increase of 1,400 on the 2011 figure. Last year the Government passed legislation designed to reduce this number, but, as I understand it, it has not yet been implemented. We need to know if and when these measures will come into force.

I take the opportunity to express my appreciation to colleagues for the useful debate we had yesterday on Seanad reform. I was rather stunned to discover yesterday morning that the Taoiseach had arranged to have a meeting on the issue involving only the leaders of the parties in the other House. He changed his mind at the last minute, however, and managed to get a few representatives from this House. That was at 7 a.m. for a 7.30 a.m. meeting. Clearly, this issue is not high on his agenda. I hope there will be a change in that regard.