Publication of the Report of the Inter-Departmental Working Group on Mortgage Arrears

The Report of the Inter-Departmental Group on Mortgage Arrears has been published by the Government this morning. 

The Government’s Economic Management Council instructed that an interdepartmental group be established to consider further measures to alleviate the increasing problem of mortgage over-indebtedness.   


In establishing the group, the Government set two core objectives: 

• To assist those facing real difficulties to remain in their own homes where appropriate, and 
• To ensure a distinction between those who cannot afford to pay their mortgages and those who choose not to pay their mortgages.   

The report’s wide ranging and significant measures to address mortgage difficulties fulfils these objectives.   

Work is underway to implement key elements of the report: 


Minister Penrose will shortly launch two mortgage-to-rent schemes in line with the report’s recommendations.
These will operate on a pilot basis initially, subject to prompt review ahead of wider roll-out.  Under each scheme, households in extreme mortgage distress who are eligible for social housing will be able to remain in their homes as social housing tenants with either the lending institution or a housing association taking ownership of the property.


Minister Penrose’ officials will be kick-starting this process next week. 


Minister Shatter has already undertaken extensive work on the Heads of a Personal Insolvency 


Bill as set out in the report and these will be published shortly.   


Minister Noonan has instructed the Banking Division of the Department of Finance to begin discussions with the banks to ensure speedy implementation of the measures set out in the report. 

The Government will now propose that the Dáil have an opportunity to debate the findings and recommendations of the report and will make time for a debate next week.  This will give all sides of the House the opportunity to contribute in a constructive and realistic manner to the deliberations on this important issue. 

The Minister for Finance and the Minister for Justice and Equality will form an implementation strategy to be set out at the conclusion of the Dáil debate.  This implementation strategy will set out the necessary steps to put into effect all of the measures that are deemed feasible.  

Recommendations of the Report: 

The report provides a range of options within a defined framework for lenders and distressed mortgage holders to deal with what is a very stressful situation for the homeowners involved.   

The main conclusions of the report are as follows:- 

The group does not advocate blanket debt/negative equity forgiveness and instead indicates that the issue of mortgage difficulty can only be considered on a case by case basis having regard to the individual circumstances of each case. 
While mortgage forbearance measures are appropriate in many cases, long term forbearance will not be sufficient in all cases and it will have to be recognised by borrower and lender that some mortgages are currently unsustainable and that more sustainable solutions will have to be advanced for such cases. 

The report sets out a range of possible solutions for such cases and also sets out a “decision tree” approach to aid assessment of individual cases; however, the report indicates that these solutions are not intended to be exhaustive or proscriptive and that these and other solutions will need to be developed over time. 

The possible solutions that will need to be advanced by banks to address mortgage over indebtedness include

• trade down mortgages   
• split mortgages 
• sale by agreement.   

The State also has a significant role to play and the group proposes the introduction of two “mortgage to rent” social housing schemes utilising approved housing bodies and the leasing of houses by banks to local authorities in appropriate circumstances.  Associated with this, the group also proposes that the mortgage interest supplement scheme should become time limited.  

The report proposes that a more specialised mortgage advice service be established, that could link into MABS, to provide specialist advice and assistance to mortgage holders in difficulty to enable them consider and evaluate their options in their engagement with mortgage lenders.   

Underpinning the range of possible solutions, the report also states that reform of the bankruptcy and personal insolvency law is fundamental and that without this the mortgage problem will not be resolved.

Doherty welcomes confirmation of early 2012 date for Children’s Referendum

Fine Gael TD for Meath East, Regina Doherty, has welcomed confirmation from the Minister for Justice, Alan Shatter, that the children’s rights referendum will be held early in the New Year.
“I was very pleased to hear that during his speech to UN member states in Geneva, Minister Shatter confirmed that the much awaited referendum on children’s rights will be held in early 2012. This is a hugely welcome development, and further proof that this Government is committed to strengthening children’s rights where the previous administration failed.

“On its formation, the Government made it clear that the protection of children is a top priority by establishing a dedicated Department of Children and Youth Affairs. In the wake of the Cloyne Report, the Government also committed to putting the Children’sFirst Guidelines on a statutory footing.
“There has been some criticism that this referendum was not held earlier. However, this is an extremely sensitive and complex issue, and getting the wording of a constitutional amendment right is essential. Work on this issue has been ongoing within the Department of Children, under the guidance of Minister Frances Fitzgerald, for a number of months. I am confident that this work will conclude in time for a referendum to be held early next year.

“For too long, it was assumed that it was somebody else’s job to protect and cherish children.  By placing the Children’s First Guidelines on a statutory basis we will all be actively involved in providing a safe, nurturing environment in which our children can grow.

“The ancient African proverb that it takes a village to raise a child rings true; it does take a village,and to develop that kind of support we must begin with ourselves. Community,like charity, begins at home. I believe we will all benefit from having our responsibilities in relation to children clearly enshrined in our Constitution.”

Global Irish Economic Forum

The two day Global Irish EconomicForum got underway this morning in Dublin Castle. Many of the most influentialIrish and Irish-connected individuals abroad have travelled to Dublin inorder to attend, each of them at their own expense.
They did so for no reason other than to attempt to assist in our country’seconomic recovery and I am very grateful indeed to them for sacrificingtheir valuable time in this way. A small number of senior Irish based figuresfrom the business and political spheres are also attending and PresidentBill Clinton will address the Forum tomorrow.

Doherty calls for heightened level of debate on upcoming referendums

Fine Gael TD for Meath East, Regina Doherty, has called on the Government, the Opposition and the media to engage in a proactive and visible debate on the forthcoming referendums on judge’s pay and on the powers of Oireachtas committees.  “It’s regrettable to say the least that these referendums have been so sidelined that the public are barely aware that they are taking place in less than twenty days time. Amendments to the Constitution are matters of significant national importance and deserve to be receiving as much attention and publicity as possible, so voters are in a position to make an informed decision at the ballot box.
“I am calling on the Government,the Opposition and those media commentators who have previously called for political reform to become more proactive in bringing this debate to public attention.  Apathy only creates a culture of ‘if you don’tknow – vote no’.  The issues before the people are important and warrant a large scale public airing before polling day.
“While I acknowledge the role of the Referendum Commission in informing the public on these matters, it is a faceless entity which the public may not relate to.  These referendums need personalities to come forward and show leadership on how they believe people should vote.
“These two referendums are by no means trivial.  The issues that arise from the referendum on judge’sremuneration include the relationship between the Oireachtas and the judiciary and the traditional separation of powers.  The referendum on Oireachtas committees grants significant powers on Oireachtas members which must be examined and considered in full before the public can decide whether they are in favour of them.
“We are currently surrounded by a media clamour pertaining to an office with a primary role of protecting our Constitution.  It would only be fitting that significant changes to the same Constitution should receive some level of attention, which has been absent to this point.”

Huge turnout for national launch of FG Presidential campaign

Fine Gael TD for Meath East, Regina Doherty, attended the national launch of the Presidential campaign in Dublin this week which was packed to the rafters with TDs, Senators, Councillors and An Taoiseach Enda Kenny.

“The national launch of the Mitchell for President campaign took place in Dublin this week and it was a huge success. The room was packed to the brim with the parliamentary party, as well as councillors and party members from across the country.

“With just three weeks to go until polling day on October 27th,the enthusiasm in the room was infectious as Gay Mitchell spoke about his vision for the Presidency. As someone who grew up during hard times, he knows what people are going through and he knows that we can come through this.

“Ireland needs someone with experience as President. Gay Mitchell MEP was a TD for 26 years and an MEP for seven. I believe that he has the experience and the international contacts that we need to help bring jobs to this country.

“For too long, we have forgotten what we were good at and what we do well.Agriculture is the star of this economy at the moment and a major creator of jobs. A big part of his role as President would be to help open up new markets and develop existing ones, so that more people can find work in this vital area.

“Gay also spoke about his proposals to lead the charge in promoting mental health, especially for young people. He wants to work with voluntary groups who do important work in the area of mental health. This generation is under great pressure, and we’ve seen too many people take their own lives.It’s time for us to tackle this in a meaningful way.

“Over the next three weeks I will be canvassing the length and breadth of Meath to gather support for who I believe is the best person to be President of Ireland.”

Extra funds will help to retrain redundant construction workers

Regina Doherty TD, has welcomed the news that the European Commission has approved funding worth €55 million for the retraining of redundant construction workers. The money is being made available under the European Globalisation Adjustment Fund, and must still be approved by the European Council and the European Parliament. “This is very positive news for thousands of construction workers who were made redundant during the height of the economic crisis. The ECF will help to co-finance a range of retraining measures to help up to 9,000 people from the building trade who lost their jobs between July 1st 2009 and March 31st 2010.
“Like areas right across the country Meath has been severely affected by the unemployment crisis, which was accelerated by the collapse in the construction sector. Hundreds of former construction workers across Meath are struggling to find work and many of them need to adapt their skills to ensure they can find sustainable employment for the long-term.
“At least €22 million under this programme has already been invested in training initiatives to date. This additional EGF support will help to provide a range of opportunities from evening training and further education courses to full-time third level education programmes. These measures are firmly aimed at getting people into the workforce.
“An inter-agency group within the Department of Education is focused on maximising the supports available to redundant workers. I am hopeful that the additional money being made available will be of benefit to many people across Meath.”

Questions and Answers evening in the Ashbourne House Hotel

You are cordially invited to

Questions and Answers

An evening with your Dáil representatives

Minister Shane McEntee and Deputy Regina Doherty

with special guest Deputy Peter Mathews

in the

Ashbourne House Hotel

on

October 13 at 830pm

Participants will be able to put questions on local and national issues.

Councillor Maria Murphy and Gerry O’Connor will also be answering questions on the night. For further information e-mail ashbourne@meathfinegael.ie.

Meath Enterprise Board Awarded €140,000 extra funding

Deputy Regina Doherty, TD for Meath East, is delighted to announce that Meath Enterprise Board has been awarded €140,000 extra funding to directly fund job creation in Meathby the Minister for Small Businesses John Perry TD. This funding was awarded at the Small Business Advisory Forumas part of the €3.1million extra funding awarded to County Enterprise Boards around the country. This funding is in addition to the €15million already provided to CEB’s in 2011.
The additional €140,000 was awarded to Meath CEB in direct response to specific requests from the County Enterprise Board who feared that they would not have the funding to support all those entrepreneurs and businesses in Meath.
The additional funding is provided from savings elsewhere in the Minister for Small Business Department and it is estimated that with the new injection of funding 13 additional jobs will be created in the first instance with potential for more in the future.  
Deputy Doherty, speaking of Meath County Enterprise Board said “We are lucky in Meath with our County Enterprise Board. It provides vital and invaluable services to encourage start up and expanding business in Meath. The staff on the County Enterprise Board are excellent and try in every way to encourage & support the start-up spirit that exists in many individuals in the county.”
“Meath County Enterprise board is a dynamic, vibrant and forward thinking organisation that makes the most of every opportunity to provide employment. We only have to look at that recent website TaraDays.com which was established byMeath CEB to encourage tourists through networking opportunities and online shopping service to support local businesses during the period of the Soliem Cup Tournament in Killeen Castle.”
“Businesses in this county would be lost without the supports offered by Meath County Enterprise Board and this additional funding will enable them to assist more business in Meath and allow us as a county to do our bit to create employment.”

The Discovery Zone

How would you like to :

 

• Discover New Ideas?
• Discover new Business Opportunities?
• Discover your True Potential?

 

The Discovery Zone is an exciting new 12 week programme designed to assist experienced professionals who find themselves at a time in their careers where they want to develop new ideas, start a new business or explore ways in which they can use their skills, experience and talents to exploit commercial opportunities.  Based at the Kells Enterprise Centre, The Discovery Zone aims to :

 

• Help participants to both generate new business ideas and/or to evaluate existing business ideas
• Assist participants with the technical and commercial evaluation of these ideas.
• Enable participants to complete a feasibility study on their most viable business idea.

 

Elements of the Programme will include:

 

• A formal training day once per week.
• A group project to build a strong Team Dynamic.
• Compulsory attendance in the dedicated Discovery Zone Incubator for two days per week for project work, workshops, assignments etc.
• Support from a dedicated Programme Manager
• Mentoring by experienced Business People.
• Case Studies from real Entrepreneurs.
• Informal access to technical advice from Researchers/Academics at DKIT.

 

This project has been co-funded by Meath County Council & Enterprise Ireland.

 

NOTE:  Attendance at the Discovery Zone will not jeopardise receipt of Social Welfare Payments.

 

To request an application form, please contact Joanne Kearns at 042 9370435 or email joanne.kearns@dkit.ie

Apply for Social Welfare online

This link allows customers to file online applications for:

• State Pension (Contributory) (if you have been invited to apply online)
• Widow(er)’s Contributory Pension (if you are resident in the Republic of Ireland)
• Child Benefit (if you have been invited to apply online)
• Jobseeker’s Payment (if you have been invited to apply online)

Note for Jobseekers: This service is not yet available to all Jobseeker customers.
You can only use this service if the Department of Social Protection has written to you inviting you to apply online, or if you have been advised by your Local Social Welfare Office to apply online.

Visit this service now