I again add my voice to the call for a debate not just on the banking sector but on the issue of mortgage arrears, a debate I have called for on number of occasions. As shareholders in AIB, most of us are probably delighted it had a €1.1 billion pre-tax profits in 2014 as opposed to a €1.7 billion loss in 2013. However, a closer examination of the figures reveals that €188 million is a write-back from amounts it had previously set aside for expected bad debts. That basically means that the rest of the money is operating profits. I very much share the concerns of Senator Marie-Louise O'Donnell that these profits are being made by exorbitant bank charges, interest rates on variable rate loans that are unsustainable and unacceptable, and, dare I say, a certain amount of a fall in the level of arrears that has been brought about by nothing but pure terror being imposed on people who are in mortgage arrears.

Hear, hear.

I am calling for a debate on the Insolvency Service of Ireland and why its output and outcome have been so miserable

Abysmal is the word.

Abysmal and miserable.

Shocking.

We should have that debate as a matter of urgency. As a member of the Joint Committee on Finance, Public Expenditure and Reform, it is clear there is a tsunami of repossessions coming and people in mortgage arrears are not being properly represented. There is no level playing field when it comes to the relationship between somebody in mortgage arrears and their bank. That is an issue the Government will have to address. I want that debate as a matter of urgency. I also call for the Tánaiste and Minister for Social Protection, Deputy Joan Burton, to come to the House to address the State scheme which supposedly gives advice to people in mortgage arrears. It is a joke, to say the least, that people get advice when they have actually been made an offer and they have no choice but either to accept or reject it. That is not genuine advice. It does nothing to help people in mortgage distress and is a total waste of money. I am seeking two debates, one on the Insolvency Service of Ireland and the second on the facilities being made available to people in mortgage distress.

I suggest to some in the Labour Party and Fine Gael that they replay the record of their statements in the House. Last night, a very good Bill, the Family Home Mortgage Settlement Arrangement Bill 2014, was introduced in the other House by Deputy Michael McGrath, on which I commend him, which would have removed the bank veto.

Hear, hear.

It was unconstitutional.

That Bill would have solved some of the problems which were identified in this House at the time the then Minister, Deputy Alan Shatter, was ramming through the insolvency legislation. It was obvious at the time that its provisions would neuter any effectiveness the Bill should have had. In Wexford 13.09% of people with mortgages are in default. The level of arrears ranges from 10.2% to 19% across every county. It is an appalling scenario. I agree with Senator Aideen Hayden who said there is a tsunami of repossessions coming but what in the name of God is the Government doing about it? It is in government, not in opposition, but what is it doing about it? It has the power to change it. It has the power to give a balance so that people are not removed from their houses.

The Senator is right.

Does Senator Walsh have a question for the Leader?

I am asking for a debate on the issue. I hope Deputy Willie Penrose will bring forward a Bill, or if not, the Opposition will do so, to reduce the terms for bankruptcy from three years to one year. In normal circumstances I would not support such a Bill but we are not in normal circumstances.

Extraordinary circumstances.

Senator Conway is right that we are in extraordinary circumstances. As a consequence of all of this we now have people who are suffering enormously and who have no hope for the future, neither for them nor their families. There is an opportunity for us to set this right.

What did the Government of which the Senator was a member do for people in mortgage arrears when it was in government? Nothing.

It is easy to talk. What we need is action. We have introduced the action.

Why did the Senator vote for the Land and Conveyancing Law Reform Bill?

We had introduced the Bill.

It was the greatest lesson in capitulation to the banks I have ever seen.

The code of conduct on mortgage arrears was voted through in this House-----

That Government kicked the can and capitulated to the banks.

-----and actually ensured it was easier for the banks to repossess.

I thank Senator Walsh.

Rather than cry crocodile tears-----

The party of which the Senator is a member bankrupted every one of us in the country. He should sit down.

Why is there a mortgage crisis?

-----the Government should be honest with people and take action on the issue. The Minister with responsibility in this area is in the other House ramming through legislation which will have serious ramifications for children.

I call Senator Martin Conway.

She is ramming it through in the same way as the insolvency Bill and the water services Bill were rammed through.

The Senator has exceeded his time. Senator Walsh, please.

We have seen the consequences for people of doing that.

I call Senator Martin Conway.

Believe me, there are political consequences which the Government will be exposed to in the next 12 months for its failure to act in these areas.

It is very difficult in many ways to disagree with Senator Jim Walsh but we will let the history books judge the performance of the previous Government because I do not particularly want to get into revisionism and all that goes with it. We have a serious problem with repossessions. What Senator Marie-Louise O'Donnell and others have said is absolutely correct. It needs to be dealt with. We should not skirt around the edges but deal with it head on and upfront, and the banks need to be dealt with head on and upfront. There is too much pandering to the banks by everyone in society. Whatever length of time is left in this Government, it has to deal with the banks and ensure that people are left with their homes, not with €7 million worth of homes, as we saw on television last night. I commend Mr. Vincent Browne because what he did last night was a fantastic example of public service broadcasting. Of course, it was TV3 that exposed exactly what is going on and exposed the leadership of the so-called phoney, stupid New Land League. How anybody can go on national television and justify the actions of an organisation such as the New Land League is beyond me. The Land League goes back to Michael Davitt, who must be turning in his grave at what is going on.

The Senator-----

Senator Gilroy was a Fianna Fáil man once.

Of course, we know Mr. Beades' seed, breed and pedigree and where his loyalties lay in the past. He has some neck to go on national television and display the arrogance he has shown in recent days.

On a point of order-----

Senator Conway, please.

It is important that we do not abuse the privilege we have in this House.

I was about to interrupt the Senator.

My understanding is that we do not name people who are not here to defend themselves.

This gentleman is well able to go on national television and talk crap.

That people are in debt and in mortgage debt is not new. It has been going for a number of years. I have been working closely with David Hall in this area on behalf of about 80 families. There has been some improvement for some people.

The banks have started to do some good restructures. The number of people in grave difficulty who are close to repossession has been estimated to be between 26,000 and 30,000 families. That is sheer devastation. I support the call made on all sides of this House for us to get together and come up with new solutions to help these people stay in their own homes by whatever means. Let me remind everyone that there are no other houses for them and the State cannot give them houses. We have heard the story about mortgage to rent and rental approaches. Why have they not worked? New solutions need to be found.

I wish to raise another issue. I support the concern expressed by Senator Barrett about the removal of maths and languages as entry requirements in third level colleges. That is a strange move.

Such a joke.