Variable mortgage rates
The Deputy Leader agrees to seek a debate on high variable mortgage rates after the Finance Minister’s meetings with lenders; a brief interjection also raises a gift-voucher proposal.
I accept Senator Feargal Quinn's proposed amendment to the Order of Business. He also asked for the Minister for Finance to come to the House to discuss variable mortgage rates. I will look for that debate. Last week the Minister held a series of meetings with Ireland's six main mortgage lenders, focusing on the high standard variable rates being charged by the banks. The matter is under ongoing review.
Senator Catherine Noone referred to the gift voucher proposal made by the Minister for Jobs, Enterprise and Innovation, Deputy Richard Bruton. Like the Senator, I welcome the proposal. She may know that in the previous Seanad my colleague, former Senator Brendan Ryan, introduced a Private Members' Bill on the issue. The proposal is long overdue in the context of consumer rights. We will see if the Bill can be introduced in the Seanad because we have had a debate on the issue.
Senator Gerard P. Craughwell referred to the referendum on the age of presidential candidates. It is regrettable that it was defeated. The Senator also asked for more time for statements on the national drugs strategy. Ample time is being given for the debate on the Customs Bill 2014, the debate on which is to be adjourned not later than 7 p.m. Members will have plenty of time to speak to it. Statements on the national drugs strategy will finish at 8.30 p.m., but I will ask the Minister of State to return to the House on another occasion to continue the debate if more Members still wish to speak.
Senator Terry Brennan asked Senator David Norris to run for the Presidency again.
