There are reports that the Minister for Justice and Equality, Deputy Shatter, and the new head of the insolvency service will next week publish minimum income guidelines to be used in assessing people's indebtedness in an effort to formulate solutions for such people. They will apparently deal with issues such as whether people may keep a second car, go on holiday or have a Sky Sports package. Will those guidelines require legislation in the House? Will they be mandatory or will it be possible for banks to reject them?

I understand that what is in contemplation is that the head of the personal insolvency agency is likely to publish some guidelines for the engagement between borrower and lender in respect of the legislation to which Deputy McGrath referred. My understanding is that no legislation is contemplated.