Jerry Buttimer (Fine Gael) | Oireachtas source

I thank the 15 Members who contributed on the Order of Business.

Senators Gerry Horkan, Aodhán Ó Ríordáin and David Norris referred to Permanent TSB, following the discussion yesterday on the Order of Business. The Minister of State at the Department of Finance, Deputy Michael D'Arcy, will take the debate on Thursday on behalf of the Government because the Minister for Finance, Deputy Paschal Donohoe, will not be available. It is important to reiterate that all of the Members who have spoken about the issue thus far agree that we need to protect the homeowners, families, business people and farmers affected by the potential sale of the loan book. However, it is somewhat premature to get involved in the hysteria about vulture funds and so on because there has been no consultation yet with the Minister for Finance. Deputy Micheál Martin raised the matter in the Dáil yesterday, as did Deputy Mary Lou McDonald. The Minister for Finance and the Fianna Fáil spokesperson on Finance, Deputy Michael McGrath, are due to meet today. We all agree that there is a need to protect and assist mortgage holders. The Minister for Finance is also very much aware of the views of members of the Fine Gael Parliamentary Party on the issue. As many Senators said, we have all met in our offices the holders of distressed mortgages and in the vast majority of cases they are trying to work with and do deals with their banks. However, it is a two-way street - the banks must also communicate and engage with their customers. It is important that during the debate tomorrow we discuss the potential sale of the loan book. It is also important to differentiate between those who have tried to engage and those who have not. There are many people who are not being heard in this debate who are struggling to pay their mortgages. There are business people, farmers and homeowners who are struggling, but who are paying their mortgages. There are others, however, who are not engaging with the banks, which is wrong. The banks' treatment of customers must be measured and balanced, fair and proportionate, but those who do not engage with them are wrong.