Ray Butler (Fine Gael) | Oireachtas source

I also echo the sentiments of Senator Grace O'Sullivan on the Hinkley Point nuclear power plant. With it, three more nuclear power plants are planned in England. It is, therefore, time for the Government to act.

Like everyone else, I will speak about Permanent TSB and the 20,000 family home loans which will be sold to vulture funds and banks. I spoke about this issue a number of months ago and Deputy Bernard J. Durkan has proposed legislation on it to the Minister. There is the proposed sale of €4 billion worth of residential mortgages at discount prices which would cause chaos for the families concerned. Customers rang Permanent TSB yesterday to ask if their mortgages were being sold. They were told that they would receive letters if their mortgages were sold. The courts are not able to cope with these cases and it will cause chaos if the vulture funds get into the market. Cases are being adjourned because judges to do not want to put families out onto the street. I attended the courthouse in Trim a couple of months ago when 90 cases were adjourned. None of them was dealt with. I recently dealt with a person whose mortgage had been taken over by a vulture fund. The lady concerned who had a young family had offered to pay €500 a month. It had not been accepted and the house was sold for €80,000. She then had to be housed by the local authority and the taxpayer has had to put up €700 a month under the housing assistance payment, HAP, scheme. We bailed out Permanent TSB in one shape; it will flog everything and the taxpayer will have to come along and dish out again.