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Dáil
‹ Ceisteanna—Questions. Oral Answers. - Housing Finance Agency.

Minister’s contact with building societies

Summary

Burke pressed the Minister on not having met building societies as mortgage rates rose from 13.15% to 16.25%. The Minister confirmed he had not met them but said a meeting was planned soon; Burke accused him of disregarding mortgage holders, and the Chair eventually declined Burke’s request to ask another question.

Ray Burke Mr. Raphael Burke Fianna Fáil

Would the Minister of State confirm that his statement with regard to the problems of prospective purchasers and existing mortgage holders can be questioned because since he became Minister of State he has never met the building societies? First, will the Minister of State confirm if he has ever met the building societies since he became Minister of State in view of the increase in interest rates from 13.15 per cent to 16.25 per cent?

Comment on this
Fergus O'Brien Mr. F. O'Brien Fine Gael

It is not relevant to the question but I will answer it. I have not.

Comment on this
Ray Burke Mr. Raphael Burke Fianna Fáil

The Minister has not. With a 3 per cent increase in interest rates the Minister has not met them to discuss it.

Comment on this
John F. O'Connell An Ceann Comhairle Independent

Let the Minister answer the question.

Comment on this
Fergus O'Brien Mr. F. O'Brien Fine Gael

I have not met them but I have indicated to the building societies that I will be meeting them in the very near future and they are aware of that.

Comment on this
Ray Burke Mr. Raphael Burke Fianna Fáil

The Minister has never thought it worth his while to meet the building societies.

Comment on this
John F. O'Connell An Ceann Comhairle Independent

Would the Deputy please have respect for the Chair?

Comment on this
Ray Burke Mr. Raphael Burke Fianna Fáil

I have respect for the Chair. But when the Minister comes in here and bluffs for an hour at Question Time and says he has never met the building societies at a time when mortgages are going from 13.15 to 16.25 per cent, one has to question his commitment. He has never even bothered to meet the building societies.

Comment on this
John F. O'Connell An Ceann Comhairle Independent

The Deputy may not make a statement. I am calling Deputy John Callanan.

Comment on this
Ray Burke Mr. Raphael Burke Fianna Fáil

He is showing a total disregard for mortgage holders.

Comment on this
Fergus O'Brien Mr. F. O'Brien Fine Gael

Obviously this National Housing Agency is having a grave effect on Deputy Burke. I am sorry it is having that effect on Deputy Burke.

Comment on this
Ray Burke Mr. Raphael Burke Fianna Fáil

The Minister never bothered his barney to go and meet the building societies to discuss the increase. It is a disgrace. It shows the Minister's commitment to mortgage holders.

Comment on this
Fergus O'Brien Mr. F. O'Brien Fine Gael

He is very upset. I am sorry for Deputy Burke.

Comment on this
John F. O'Connell An Ceann Comhairle Independent

I would ask the Deputy not to be disorderly.

Comment on this

May I ask a further question on this?

Comment on this
John F. O'Connell An Ceann Comhairle Independent

No. I am sorry.

Comment on this