The Minister of State at the Department was concluding.
Housing Finance Agency (Amendment) Bill, 1985: Second Stage (Resumed).
Question again proposed: "That the Bill be now read a Second Time".
The Minister of State at my Department, Deputy Fergus O'Brien, commenced replying to the Second Stage of the debate on 14 November. Unfortunately, he is unable to be here today.
Do I understand that the Minister is offering?
With your permission, sir.
Just a moment, is it agreed, in the absence of the Minister of State who was concluding, that the Minister for the Environment may conclude?
That is agreed.
We are very accommodating.
A most peculiar arrangement.
The Minister to conclude.
The Minister for Defence was replying last night on the Dublin Transport Authority Bill, 1985.
Who says he might not finish it?
I thank the House for giving me permission to conclude on behalf of my Minister of State, Deputy O'Brien. I know we all wish him well and hope he will have a speedy return to the House.
I thank those Deputies who contributed to the debate for the welcome they have given the provisions of the Bill. The Bill, though, in itself a somewhat limited measure, has given Deputies an opportunity of discussing in a broader way the Housing Finance Agency's loan scheme and how its operation has benefited house purchasers. The scheme continues to prove popular with persons with modest incomes who, by reason of the income-related repayment scheme and low deposit, can aspire to owning their own house. The measures proposed in this Bill are necessary to ensure that the agency continue to operate successfully.
The most significant provision of the Bill is that of increasing the limit on borrowings of the agency from £200 million to £500 million. The limit, as I explained in the opening debate, must be applied to the normal value of the agency's borrowing and not to a somewhat lower figure. In fact, £16 million of the proceeds to the agency are stock issues. This distinction lends some urgency to having the Bill enacted as speedily as possible.
Some of the contributions during the debate ranged over the housing area in a wider sense than that comprehended by this Bill. The House will have an opportunity in the near future of having a full discussion on many aspects of housing when we come to deal with the more extensive Housing (Miscellaneous Provisions) Bill, 1985, recently presented by me. No doubt, many of the views and sentiments expressed in the course of the debate on the present Bill will be heard again and I shall be responding to them in detail at that stage. I shall conclude, therefore, by thanking Deputies for their support for the present measure, the enactment of which will enable the Housing Finance Agency to continue to help persons of modest means to achieve the worthwhile goal of owning their own home.
Is it agreed that the Bill be now read a Second Time?
It is disappointing that the Minister has not replied to any of the points raised in the debate by this side or his own side of the House.
Is it agreed that the Bill be read a Second Time?
It was agreed having regard to the unusual circumstances of my having to reply that it would be a very short reply.
Question put and agreed to.
When is it proposed to take Committee Stage?
Now.
I protest. I am sorry that the Minister of State is ill, and I wish him a speedy recovery, but surely if the Minister is coming in to reply in his place he would have had the Minister of State's script.
That is over and finished with now.
It is very unusual. We had a lengthy debate on Second Stage and the Minister has not replied to any of the points made. Some very interesting points were made from the Minister's side to which he has not replied.
The House has agreed that the Bill be now read a Second Time and it is proposed that Committee Stage be taken now. Is it agreed that Committee Stage be taken now?
Yes, but I had to comment that it is disappointing that none of the points were answered.
Agreed to take remaining Stages today.