I welcome a recent report by Indecon Consultants in which it has evaluated the prospects for a deposit protection scheme.

I remind Members that one in five people in this country, 20%, live in rented accommodation and one of the biggest issues they face is the loss of deposits. The average deposit today is €800, four times the social welfare payment. It is a significant matter and one of the principal causes of homelessness in this country is the loss of tenancy deposits. The Indecon report recommends to Government that a deposit protection scheme, where deposits are held by separate body, would be a useful possible development. In the context of the Residential Tenancies (Amendment) (No. 2) Bill, which is on Second Stage in the Dáil, I ask the Minister of State with responsibility for housing to ensure provisions for a deposit protection scheme at the earliest possible opportunity.