SEANAD REPORT:THE PROPERTY market would be distorted as a result of a scandalous lending policy that had been adopted by at least one financial institution, Brendan Ryan (Labour) contended.
Bank of Ireland operated a minimum property value of about €l75,000 in the greater Dublin area when it came to approving owner-occupier mortgages, he told the House. The bank had turned away applicants for mortgages below that threshold.
New two-bedroom apartments and houses were available in north County Dublin for around €l50,000, but young people with a capacity to service such mortgages had been turned down.
“At a time when the Government is encouraging first-time buyers and lower income earners to avail of the Affordable Housing schemes, it is scandalous that Bank of Ireland will not lend on these properties. The effect of the bank’s policy would be that prices would adjust to the higher level, with a resulting distortion in the property market. We cannot have upward price pressure on house prices due to arbitrary lending policies by State-supported banks.”
Mr Ryan urged that the Minister for Finance investigate the matter.
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The controversy concerning the parentage of Michael Jackson’s children highlighted the need for rules governing the use of in-vitro-fertilisation in this country, Liam Twomey (FG) said. It had been said that Jackson might not be the biological father of his children, that the mother might not be the surrogate mother and that a surrogate might have been involved in one or more of his children. “If all these things about Michael Jackson’s children were true and happened in Ireland, no regulation or rule would govern it. Something should be done about it.”
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Referring to a report in The Irish Timesthat the cost of running the Oireachtas was to be reduced by €40 million, Rónán Mullen (Ind) said it was clear that parliament would become a leaner and meaner establishment, but he wondered if it could also become greener. His office was swimming in paper. It would be preferable if draft legislation was made available online to all members.
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The Bill dealing with a range of issues including limitations on the licensing of handguns passed the second stage unopposed. Speaking in the debate on the Criminal Justice (Miscellaneous Provisions) Bill, 2009, Denis O’Donovan (FF) said strong powers were being given to the Minister to curtail the right of gun clubs in relation to activities such as training. He did not think this was a “kill joy” attempt by the Minister to halt sporting or kindred activities.
There appeared to be strong evidence in the hands of the Garda that some gun clubs had, unknowingly or unwittingly, been used as training grounds for international terrorists. If that was so, it represented a very worrying trend.
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At a time when the Lisbon Treaty loomed large, acknowledgment should be made of the benefit that Europe brought to consumers in this country, Eugene Regan (FG) said. “We can discuss the constitutional implications of the Lisbon Treaty . . . but one practical, tangible and substantial benefit which came from Europe this week was the decision to put a cap on mobile telephone roaming charges.”
