When I raised this matter with the Tánaiste previously, he wondered why it was even being brought up. I am again raising the issues of defective blocks in Donegal and, indeed, in more and more areas across the country. Despite the Tánaiste's best hopes, this issue has not been resolved. It is pressing for the families affected and getting more and more so. There is constant worry as to where families are going to go and the difficulties they will have in getting children to school when they are living away from home while their houses are being repaired and as to how estates will be dealt with when not all homeowners are in the same place with regard to the repair of houses. All of these issues still remain to be dealt with. However, one of the most pressing issues with the 100% redress scheme - mar dhea - is that what it covers is far from 100%. Most householders will have to pay at least €60,000, and possibly a lot more, to get into the 100% redress scheme.

The banks and insurance focus group of the defective block homeowner working group has shown that the banks are equal shareholders in the problems faced by homeowners. The group needs the Government to get on board with holding them to account and demands that it does so. It has identified that all of the banks' mortgage terms and conditions contain covenants that make the repair of homes potentially automatic default events. Mortgage providers are standing outside the remediation issue, taking all of the benefits without any of the pain of having to deal with remediation. Homeowners have the stress of living in homes that are defective for reasons that are not their fault and are trying to navigate the process of applying for remediation and finding the money to bridge the 100% scheme gap while the banks and building societies sit and demand full repayment without assisting at all. At the very least, the banks should provide the homeowners with the funding to meet the difference under the 100% scheme so that homeowners have only one organisation to deal with. Recognising that the defective homes are assets of the financial organisations used to secure funding, surely those organisations would not lie to investors and say that the assets are worth what they claim.

The Minister has said that the banks need to come on board at a later stage and be understanding. Surely he recognises that is not good enough and that the softly-softly approach is not tenable. Will he recognise that the banks have a role to play at every stage in the redress process and genuinely make sure that they participate now for the benefit of those who own homes affected by the use of defective blocks as well as all the citizens of Ireland, who will ultimately carry the cost of this scheme?

I thank Deputy Pringle very much for raising this issue. Just yesterday, the Minister for Housing, Local Government and Heritage, Deputy Darragh O'Brien, met with members of the Mica Action Group. The regulations are being finalised. The Minister expects that they will be in place in the coming weeks and that the new scheme will finally be in place and up and running. Of course, anyone in the current scheme will get the uplift of the benefits of the new scheme.

Before I respond on the issue of the banks and insurance companies, I will address the issue of costs and the cap, which the Deputy has raised consistently. As he will know, the chartered surveyors have provided updated rebuilding costs for 2023 for Donegal and Mayo. Those were received at the end of February and relate to eight house types. They show an increase of 13% to 15% across those eight house types since the first cost report in February 2022. Building costs for 2023 for Clare and Limerick were received on 18 April and are currently under consideration with the expert group. That is just to give an overall update. The value of the scheme is currently estimated at approximately €2.7 billion. It is a significant commitment on behalf of the State and taxpayers to remedy this situation, which is only right.

Insurance companies and banks have a role to play. I have agreed to meet with the subgroup of the Mica Action Group that is focused on banking and insurance issues. The Minister of State, Deputy Carroll MacNeill, has also agreed to meet with the group in respect of insurance. We will do this at one meeting. I recognise the reality that taxpayers' money is being used to repair or reconstruct assets that are the security for loans held by the banks. Equally, it is the taxpayers rather than insurance companies who will be funding the costs involved. Banking and Payments Federation Ireland, BPFI, has been in correspondence with the Mica Action Group and has indicated a willingness to meet and to enter into a process and structured dialogue. I welcome that and think it is important. As I indicated to Deputy Doherty, who raised this issue, as have colleagues in Government, in the House the other evening, I will do whatever I possibly can to support the homeowners on those banking and insurance-related issues. The Minister of State and I will meet with the homeowners to see what we can do to provide assistance on the banking and insurance issues Deputy Pringle has identified.

I thank the Minister for the update on the scheme. I welcome the fact that he is meeting with the working group for the owners of defective homes. That is vitally important. It is a sad reflection that the group has had to do the work to show that the banks are responsible and have commitments they must honour with regard to these mortgages when the Government should have undertaken that process. I am glad that the Government is coming to the table, but I hope the Minister will take this on board, continue with it and ensure that the banks play their part. The very least the banks can do is to provide the funding for homeowners to cover any gaps in the scheme. We will wait to see whether the increases the Minister has talked about actually reduce those gaps. Any gaps should be funded by those who own the mortgages on the properties in order that householders can get some service from the scheme and can see their way through it rather than having to deal with credit unions and other financial institutions. Unfortunately, the turmoil caused by what has happened is going to go on for years because of the sheer number of houses that have to be dealt with. It needs to be done right. I welcome that the Minister is to meet with the group. I hope he will continue on and make the banks accountable in this regard.

I am happy to meet with the homeowners to see what assistance I can provide. I recognise that practical issues will arise for them with regard to their mortgages. In many instances, people will be out of their homes for prolonged periods. While the State is assisting in other ways, people may well need support and assistance from their financial institutions. I always have to say that commercial decisions are a matter for the banks, but I believe that everybody has to work together to support the homeowners in what will be a difficult transition for some and when complex and practical issues will arise with regard to both insurance and banking. I am happy to meet with the homeowners and to follow up on whatever issues they convey to me, where I feel I can be of assistance in the period ahead.