Terry Leyden (Fianna Fail) | Oireachtas source

Yes. We must all try to do something about the homeless situation. I suggest that prize bonds are renamed the housing prize bonds as it would encourage people to invest their money. People feel very helpless because as many as 3,000 children and their families are without a home in this capital. The National Treasury Management Agency has shown little innovation. Where has it looked outside of the box or been forward thinking?

I recommend that we have a savings bond as opposed to a prize bond that allows people to invest and earn a reasonable rate of interest. At present the banks nearly charge people for saving with them. I suggest that the NTMA creates a ten-year bond that pays 1.5% or more in interest or whatever is available.

There is goodwill and a lot of money in this country. Someone has claimed that people may have saved as much as €100 billion in different locations. We should get that money back in the economy and use it to solve homelessness by building social housing. The initiative would activate the construction industry. A great many people feel helpless but luckily people love to support charities such as the Peter McVerry fund. It would be great if people could invest their money in housing savings bonds and were paid a reasonable amount of interest. In fact, it has almost reached the stage where banks charge people for keeping their savings. Without doubt, we are a very wealthy country. Let those who have the money invest in either prize bonds or savings bonds that are dedicated to alleviating homelessness and building social housing.