Next month marks the second anniversary of the Government's entry into office.

The first 100 days.

This Administration has been in office for almost two years and the Taoiseach has indicated that he is glad the figures are not rising. Each day 115 people fall into mortgage distress. This is an absolute crisis. As already stated, the Government has been in power for almost two years and it continues to refer to the Personal Insolvency Act, the provisions of which have yet to be implemented. Perhaps the Taoiseach will enlighten us as to when people will be able to access the services for which provision was made under that Act.

The Governor of the Central Bank has indicated that banks do not have the necessary processes in place in respect of this matter. Yesterday, the chief economist of the Central Bank stated that the banks are dragging their heels and that they are actually incentivised not to restructure debts. The Minister for Finance, who is sitting next to the Taoiseach, is the owner of one of those banks - namely, Allied Irish Banks, AIB, plc. Deputy Enda Kenny is the Taoiseach of this State, which owns AIB and which is a major shareholder in Bank of Ireland. Has he sat down with the chief executive of either of those banks and stated that he wants a targeted restructuring of unsustainable mortgages? That is a simple question. Some 180,000 people - one in four of the entire population - have mortgages that are in distress. Each day the mortgages of a further 115 people fall into distress.

What is the Taoiseach doing about this matter? What is he doing to live up to the commitment he gave the people before the general election and that which is contained in the programme for Government in respect of prioritising the issue of mortgage distress? There has been a great deal of talk, but many - such as the members of the family of four to whom I referred, who have nothing to eat and who turned to the Society of St. Vincent de Paul because they wanted to pay their mortgage - want the Taoiseach and the Government to provide solutions.

Deputy Pearse Doherty is welcome to the House as a properly elected Member from Donegal. He will realise that in the almost two years since the Government took office a sea change has occurred in respect of this country's reputation-----

Yes - a change for the worse.

-----and its economic position. He will also be aware of the actions taken by the Government in the context of restructuring the banks and making decisions that have improved the capacity of the economy to grow. The Deputy has often made mention of the fact that we lost 250,000 jobs in the private sector, many of them in his own county and the surrounding region, in the three years prior to the Government's entry into office. In the past 12 months, 20,000 jobs have been created in the private sector.

How many were lost?

The Taoiseach should answer the question.

There has been a net increase of 0%.

The reputation of this country internationally has been restored to a level of credibility which has not obtained for many years. This is evident in the consistent stream of foreign direct investment into Ireland-----

There are fewer people in employment now than there were when the Government came to power.

A hundred people are emigrating each day.

-----in the reduction in our bond yields from 14% to below 4%-----

Those opposite are willing the country to fail.

-----in the interest of the European Investment Bank in our plight and in the stimulus package which was announced and which is now under way in many schools throughout the country.

Will the Taoiseach please answer the question I asked, particularly for the 180,000 people whose mortgages are distressed?

These developments arise on foot of decisions taken by the Government to improve the disastrous situation in which it found the country when it came into office.

Did the Taoiseach meet representatives from the Central Bank?

The Economic Management Council met the banks on a number of occasions-----

Has the Taoiseach met them?

-----and mortgages, lending and access to credit were central issues in the discussions that took place.

I suppose the Taoiseach believes that.

The Minister for Finance also met the chief executives of the banks this month to discuss this very issue.

As Deputy Pearse Doherty is aware, we put through the Houses a most complicated item of legislation to deal with personal insolvency. The agency established under that legislation will take up office and begin working with people in the very near future.

When?

This is a further incentive for the banks and their trained personnel to get down to business, make decisions and arrive at conclusions in respect of the many mortgages that are in distress. This matter is coming to a head because the Government made the decisions to which I refer and forced the banks into a position in which they are obliged to have personnel in place to deal with clients whose mortgages are in distress. I hope we will be able to arrive at solutions for the vast majority of the latter in the shortest possible timeframe.

Does the Taoiseach really believe that?