Richard Bruton (Dublin North Central, Fine Gael)
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Question 91: To ask the Minister for Finance if he has established a team within his Department to evaluate policy initiatives to address the debt problems of ordinary householders; if they have set out a work programme with target dates for reporting to him; and if he will make a statement on the matter. [45169/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Government recently decided that all relevant material on the matter of indebtedness and mortgage arrears in Departments should be brought together in consideration of the debt problems faced by some householders. External input will be by way of consultation where relevant Ministers could meet with appropriate external organisations. In response, an interdepartmental group, chaired by one of my officials, has been set up for the purpose of urgently collecting information and examining options in this area. The Group has already met on a number of occasions and the Chair will report to me shortly on the deliberations of the Group.

The Renewed Program for Government contains a provision to reform debt enforcement in light of the deliberations of the Law Reform Commission, which recently published a consultation paper on the matter. A new system of personal insolvency regulation which may allow for a statutory non-court-based debt settlement system will be one of the critical points to be considered. Consideration will also be given to whether to establish a new Debt Enforcement Office which will remove as many debt enforcement proceeds from the courts as possible. In addition an inter-Departmental Working Group on Personal Debt Management and Enforcement is being established to consider appropriate measures that can be implemented in a cost-effective manner, for early and effective results.

I have informed this House previously that the revised Programme for Government includes a commitment to introduce measures to protect families having difficulties with their home mortgage payments. The Deputy will be aware that the Irish Bankers Federation published a Statement of Intent in November which provides further reassurance to homeowners who find themselves genuinely unable to maintain mortgage repayments on their principal private residence. The Statement of Intent has been agreed and supported by all IBF members and is a welcome development. It is also welcome that the IBF Oversight Committee on the implementation of the Statement of Intent will include representation from the Money Advice Budgeting Service (MABS).