![]() I should point out that a fuel rebate system, as sought by the IRHA, could not under EU law be restricted to Irish licensed hauliers but would have to be extended to all vehicles intended exclusively for the carriage of goods by road with a maximum permissible gross laden weight of not less than 7.5 tonnes. This working group is discussing a number of issues of concern to the haulage industry.Īmong the issues examined by the group is an essential user's rebate system. The Deputy may be aware that a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. To aid the Committee's deliberations, the Central Bank has made presentations to the Cabinet Committee and I anticipate that this will be an ongoing engagement as Government deals with this difficult issue for those households unable to meet their mortgage commitments. The Committee is chaired by An Taoiseach and includes all the Ministers that have a role in this broad area and will ensure action on the part of all involved in addressing this difficult issue for those households unable to meet their mortgage commitments. The Deputy will also be aware that since last March, a special Government Committee focused on this issue has been meeting on a regular basis to ensure that a high priority is assigned to the delivery of the implementation of the "Keane report" recommendations across relevant Departments and agencies. Central Bank representatives participate in a Steering Group of Senior officials to oversee and drive the implementation of the recommendations contained in the report of the Inter-Departmental Working Group on Mortgage Arrears across Government. The Central Bank, both from a consumer protection and prudential regulation perspective, has a very significant role to play in addressing the problem of mortgage arrears. As you are aware the Minister for Justice, Equality and Defence published the draft heads of a Personal Insolvency Bill earlier this year and the Minister has indicated that the draft legislation will be published before the end of June. Personal insolvency reform of course is also a key measure in the mortgage arrears resolution process. The intention will be that banks will make proposals for each of the segmented categories and develop them into solutions for activation during the second half of this year. ![]() More generally, the Central Bank has asked all lenders to submit Board approved loan modification and resolution options such as those recommended in the Inter-Departmental Committee's report as well as details on the segmentation of their mortgage portfolio by the end of May. A mortgage to rent scheme involving the Department of the Environment, Community and Local Government and voluntary housing bodies is being piloted by a number of the banks in advance of a wider rollout. These existing supports are being supplemented by new measures arising from the implementation of recommendations contained in the Interdepartmental Committee's Report. Budgeting advice is available through MABS which is also funded by the Department of Social Protection. In addition, the Department of Social Protection's mortgage interest supplement scheme also provides for direct support to mortgage holders that have had to avail of social welfare support and over 18,000 households currently avail of this benefit. ![]() ![]() #DDDA RARIFY CODE#The Deputy will be aware that mortgage holders who are in difficulty with their mortgage obligations have significant protections available to them under the Central Bank's Code of Conduct on Mortgage Arrears. The Government is acutely aware of the increasing financial stress that some households are facing arising from difficulty in meeting their mortgage commitments. Appearing before an Oireachtas Committee. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |