Mortgage interest and credit servicing legislation
Deputy Fleming asks whether legislation will let the Government direct taxpayer-owned banks on penal mortgage rates; the Minister gives the Bill’s procedural status but no commitment on that power.
Finally, I wish to refer to the consumer protection (regulation of credit servicing firms) Bill. As the Minister knows, the majority of the 300,000 families paying penal standard variable interest rates on their mortgages are paying that money to banks that are owned by the taxpayer and controlled by the Government. If the Government feels that it does not have the power to issue directives to the banks that it owns and controls will it include such power in that legislation?
Comment on this
The health (miscellaneous provisions) Bill was the first of the two health Bills the Deputy raised. I am not sure if that Bill would address the issues he went on to discuss. Regardless of whether it does, I do not have a date for that Bill for him at present. Similarly there is no date for the legislation to amend the Health Act 2007.
The Social Welfare Bill has completed all Stages in both Houses of the Oireachtas and it awaits signature by the President.
The consumer protection Bill has passed Second Stage and is now awaiting Committee Stage.