asked the Minister for the Environment if he will give details of his proposals in respect of the recently announced housing agency; and when it is intended to come into operation.
Ceisteanna—Questions. Oral Answers. - Housing Finance Agency.
21.
I intend to circulate a Bill providing for the establishment of the proposed Housing Finance Agency in the near future and I expect that this Bill will be enacted during the current Dáil session.
I intend to announce the Government's proposals relating to the agency when the Bill is being circulated.
I got no answer to a question I asked.
(Interruptions.)
There were five questions involved and I got no answer to my question.
There were three questions involved. I am very sorry, but we cannot go back. The Deputy has redress. He can put another question down.
Arising out of the unsatisfactory replies, I wish to raise the subject matter of Questions Nos. 18, 19 and 20 on the Adjournment.
The Chair will communicate with the Deputy.
I wish to raise them on the Adjournment as well. I certainly did not get an answer to what I asked.
(Interruptions.)
The Minister said that he is introducing a Bill. He did not say when he intends that the new agency will come into operation. Is he in a position to give that information?
As soon as the Bill is passed by the House the agency will be set up. I am anxious that it would be set up as soon as possible. I would hope that the Bill would come before the House in two or three weeks' time. If it gets through quickly we will get the index-linked funding moving.
Does the Minister intend to continue with this folly of the fixed percentage of income which will result in a £20,000 mortgage costing about £140,000 over 25 years?
I can understand that type of question from a person with no imagination. I am trying to help people particularly in low income groups who cannot afford to meet the very high repayments that they will have to meet on a building society loan. I believe that asking for 17½ per cent to 20 per cent of their income in repayments is a very reasonable approach. It will be a big help to many people. I hope that we will attract considerable sums of money into the whole housing area.
(Interruptions.)
I got only one supplementary question. This is a very important issue.
Is it envisaged that provision will be made for grants to single people in view of the great hardship on people who, if they get a local authority loan and have to pay £35 to £40 in rent, are prevented from taking any further steps to provide their own housing if they get married? Does the Minister intend to make provision for granting the loan to single people?
As Deputy Sherlock is aware, single people can still get loans from building societies. I would envisage that single people could use this agency.
Would the Minister of State confirm that his statement with regard to the problems of prospective purchasers and existing mortgage holders can be questioned because since he became Minister of State he has never met the building societies? First, will the Minister of State confirm if he has ever met the building societies since he became Minister of State in view of the increase in interest rates from 13.15 per cent to 16.25 per cent?
It is not relevant to the question but I will answer it. I have not.
The Minister has not. With a 3 per cent increase in interest rates the Minister has not met them to discuss it.
Let the Minister answer the question.
I have not met them but I have indicated to the building societies that I will be meeting them in the very near future and they are aware of that.
The Minister has never thought it worth his while to meet the building societies.
Would the Deputy please have respect for the Chair?
I have respect for the Chair. But when the Minister comes in here and bluffs for an hour at Question Time and says he has never met the building societies at a time when mortgages are going from 13.15 to 16.25 per cent, one has to question his commitment. He has never even bothered to meet the building societies.
The Deputy may not make a statement. I am calling Deputy John Callanan.
He is showing a total disregard for mortgage holders.
Obviously this National Housing Agency is having a grave effect on Deputy Burke. I am sorry it is having that effect on Deputy Burke.
The Minister never bothered his barney to go and meet the building societies to discuss the increase. It is a disgrace. It shows the Minister's commitment to mortgage holders.
He is very upset. I am sorry for Deputy Burke.
I would ask the Deputy not to be disorderly.
(Interruptions.)
May I ask a further question on this?
No. I am sorry.