Dáil Éireann Debate, Tuesday - 26 May 2015
257. Deputy Pearse Doherty asked the Minister for Finance if he will provide a list of the legislative, including secondary, changes required to implement the policy announcement of 13 May 2015 on mortgage arrears; and if he will make a statement on the matter. [19813/15]
Amharc ar fhreagraOn 13 May, the Government announced a number of measures to support mortgage holders who are in arrears. Building on action previously taken, the measures aim to increase the supports available to people in arrears and to increase the numbers of people availing of them.
This package will reform the Personal Insolvency framework to give Courts the power to review, and where appropriate, to approve insolvency deals that have been rejected by creditors. The Mortgage to Rent (MTR) scheme will also be expanded and the scheme will be made more accessible. It was also agreed that the Money Advice and Budgeting Service (MABS) will play a greater role in offering information, advice and assistance to borrowers in arrears.
As responsibility for Personal Insolvency reform comes under the responsibility of the Minister for Justice & Equality, responsibility for MABS rests with the Tánaiste and Minister for Social Protection and responsibility for introducing enhancements to the MTR scheme rests with the Minister for the Environment, Community & Local Government, they are best placed to advise on any necessary legislative amendments. For my own part, I can confirm that there are no legislative changes, including secondary legislative changes, specifically required to progress actions associated with my Department's functional responsibility arising from the policy announcement of 13 May last.
