The Renewed Program for Government sets out the Government's commitments for introducing new measures to protect families having difficulties with their mortgage repayments and personal indebtedness under the headings Protecting the Family Home and Helping Those in Debt. Last November I approved the setting up of an Inter-Departmental Mortgage Arrears Review Group, for the purpose of bringing together all relevant information in Departments and examining options in relation to the matter of support for home owners facing the problems of mortgage arrears and repossessions. This Group met on two occasions and work commenced on bringing forward options for dealing with these matters.
I since discussed with Cabinet colleagues proposals to revamp this Group under an independent Chair and expand it to bring in additional expertise. On 25th February 2010, I informed the Government of my proposal to extend the membership of the Group to be chaired by Mr Hugh Cooney who is an insolvency accountant. The other external members are as follows:
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Name
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Mr. Matthew Elderfield
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Financial Regulator
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Dr. David Duffy
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ESRI
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Mr. Pat Farrell
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Irish Banking Federation (IBF)
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Mr. Tom Foley
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Irish Banking Federation (IBF)
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Mr. Paul Joyce
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Free Legal Advice Centre (FLAC)
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Ms. Patricia T. Rickard-Clarke
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Law Reform Commission (LRC)
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Mr. Brendan Burgess
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Independent Consultant
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The Group also includes senior officials of the Departments of Finance, Taoiseach, Justice Equality and Law Reform, Social and Family Affairs, Communications Energy and Natural Resources, and Environment Heritage and Local Government. The external members of the Group were selected on the basis of their individual expertise in areas relating to mortgage arrears and personal debt. Appointments were made on a pro bono basis. There are no members of the Group representing a political party. The Group has had it first meeting and has discussed its Terms of Reference which I understand will be finalised shortly. In general, the terms of reference will reflect the commitments made by the Government both in the Renewed Programme for Government and in subsequent Government decisions relating to the issues of mortgage arrears and personal debt.
