I request the Leader of the House to arrange for the Minister for Finance and Public Expenditure and Reform to come to the House to discuss the reduction in the interest paid for prize bonds. The National Treasury Management Agency has decided to again reduce the prize pool available for prize bond owners. It reduced the number of chances to become a millionaire from six opportunities per year down to only four last year and to two commencing from August 2017. The interest to be paid on prize bonds was reduced from 0.85% to 0.5%. In 2016, it was 1.25%. At present there is €3 billion in prize bonds that is used by the State for essential services. A draw for a prize of €50,000 tax free takes place every week and only twice a year, in June and December, the prize is €1 million tax free. The draw should be brought into the public domain using television. As RTÉ has the national lottery, I believe TV3 should broadcast a public draw on a weekly basis.

Hear, hear.

Hear, hear.

Broadcasting the draw would mean people would know who won the prize.

I wish to make a further suggestion. The yearly payout was €28 million but it is now €15.5 million and a prize bond costs about €25.

One is restricted in the number of prize bonds one can buy.

Yes. We must all try to do something about the homeless situation. I suggest that prize bonds are renamed the housing prize bonds as it would encourage people to invest their money. People feel very helpless because as many as 3,000 children and their families are without a home in this capital. The National Treasury Management Agency has shown little innovation. Where has it looked outside of the box or been forward thinking?

I recommend that we have a savings bond as opposed to a prize bond that allows people to invest and earn a reasonable rate of interest. At present the banks nearly charge people for saving with them. I suggest that the NTMA creates a ten-year bond that pays 1.5% or more in interest or whatever is available.

There is goodwill and a lot of money in this country. Someone has claimed that people may have saved as much as €100 billion in different locations. We should get that money back in the economy and use it to solve homelessness by building social housing. The initiative would activate the construction industry. A great many people feel helpless but luckily people love to support charities such as the Peter McVerry fund. It would be great if people could invest their money in housing savings bonds and were paid a reasonable amount of interest. In fact, it has almost reached the stage where banks charge people for keeping their savings. Without doubt, we are a very wealthy country. Let those who have the money invest in either prize bonds or savings bonds that are dedicated to alleviating homelessness and building social housing.