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Frank O’Rourke TD has stated that fespite numerous Government pledges to tackle the issue of high variable mortgage rates, variable rates here are still nearly double the Euro area average
According to the recent Central Bank figures, the average interest rate on new mortgages in September of this year stood at 3.31%; this is nearly double the equivalent rate across the Euro area, which stood at 1.86%.
Mortgage Rates in Ireland remain dramatically out of line with rates charged elsewhere in Europe, according to Fianna Fáil’s Deputy Finance Spokesperson, Frank O’Rourke
Frank stated, “Recent Retail Interest Rate statistics published by the Central Bank show that mortgages rates are falling in Ireland. However, they are not falling at the same pace that deposit rates are falling”
“These statistics published by the Central Bank recently show that despite modest reductions in mortgage rates, Irish mortgage holders are continuing to pay dramatically more than consumers elsewhere in Europe.”
“For example, in Ireland, the interest rate on all new mortgages, fixed and variable, stood at 3.3% in June compared to a Euro area rate of 1.83%. This means that a borrower with a mortgage of €200,000 is paying €250 per month more than they would be paying in the average Euro area country. That is €250 a month, each and every month, which could be spent by families on other household necessities. There has yet to be a credible explanation for such a dramatic difference in the rates charges and it is depriving our economy of much needed money which could be spent more productively in our economy”
“In May 2016, a Fianna Fáil Bill designed to give the Central Bank powers to tackle excessive variable mortgage rates passed second stage in the Dáil. The progress of the Bill through the legislative process has been tortuous and painfully slow. Despite not opposing the Bill at second stage, it is abundantly clear the Government does not want the Bill to become law.”
“As I have said in the Dail on a number of occasions, we must focus on reducing the cost of living as well as reducing the burden of taxation. There is little point in reducing tax rates, if the banks are continuing to charge excessively high variable mortgage rates or insurance companies are continuing to increase their rates, taking back a multiple of any reduction in taxation.”
“However, key elements of our Bill on mortgage rates will proceed when the Dail returns next month which will be of help in relation to securing fairer mortgage rates in the Irish market,” concluded Deputy O’Rourke.
James Lawless TD’s bill – The Small Unmanned Aircraft (Drones) Bill 2017 – has been brought before the Dáil.
This legislation aims to regulate the use of Drones.
James said,”I was delighted to introduce my second Bill at first stage in the Dáil yesterday.I have met many organisations, hobbists and other stakeholders to ensure the Bill provides safety and best practices without taking away the enjoyment of Drone use.”
“There are multiple motivations behind this Bill. As Fianna Fáil’s spokesperson on technology, I try to stay on top of emerging trends in the industry and sector that may require support or a greater statutory framework. The value of the drones industry has seen exponential growth of late. It is estimated to grow to a worldwide figure of approximately $127 billion by 2020. Growth in Ireland is as significant as anywhere else in the world. Like any new technology, it offers great opportunities and poses great challenges. Drones are used in search-and-rescue operations, the transportation of medicines to remote areas, environmental surveying, thermal imaging, geological and agricultural surveying, photography and video. Their uses are as plentiful as one can imagine. As part of the automation of industry it is now possible to carry out jobs that were once time and labour-intensive with drones. Where once it might have taken several hundred men to survey a plot or quarry or to conduct a search and rescue operation those jobs can now be done by a drone with thermal imaging in a matter of hours, at a fraction of the cost and manpower.”
“In Ireland, Intel recently acquired Movidius, which manufactures hardware which has applications in drone cameras. Huge global companies are at play in this market. Within the National University of Ireland Maynooth, there is a drone technology incubation hub. There has been rapid growth in the commercial and hobbyist areas in Ireland, with multiple flight schools instructing people in the use of drones and drone piloting. There is an emerging industry among people who operate on behalf of State agencies, Departments and commercial enterprises. They are well qualified to conduct surveys. The hobbyist sector is also on the rise. In light of their increasing affordability, these devices now appear everywhere – from children’s Santa lists to Smyths Toys on every main street. They have become a very accessible albeit sophisticated toy.”
“All of this is to be welcomed. There is, however, also a need to survey the industry and the existing regulatory framework to ensure that any gaps are filled and that appropriate support and regulation are provided.”
“The Bill seeks to introduce a licensing regime. While there is already a licensing regime of sorts in place with the Irish Aviation Authority, or IAA, the Bill seeks to place matters on a statutory footing while balancing the needs of small hobbyist users with those of heavy duty commercial users. The Bill seeks to provide that the categorisation of users will be a matter for the IAA as the lead authority in this area. Licensing requirements could be as simple as educational information provided by way of a leaflet in the box when one buys a drone or as complex as a multi-week training programme at one of the flight schools around the country on a needs basis. Again, the IAA would be the lead authority to make these calls.”
“The issue of insurance arises as the possibility of collision with property or persons is always a live one. Criminality is also an issue as drones unfortunately lend themselves to criminal activities of surveillance and digital capture. Emerging data protection and privacy concerns also arise. As we are all aware from a debate in the House last week, the commencement date for the general data protection regulation is fast approaching. It is important that Ireland’s legislation is ahead of the curve in this regard. The intention behind the Bill is to strengthen the regulatory framework, placing relevant measures on a statutory footing and recognising the industry and its practices.”
“There are also measures in the Bill to support research and development in the sector and to identify certain areas which would be suitable for testing. It also seeks to attract investment by way of FDI or from existing companies and global giants. Ireland is unique in its landscape and climate. We have mountains, coasts, railway lines and power cables, all of which factors are used by drone manufacturers for testing. We have them all within single counties in many cases. The Bill is intended to support the industry and recreational users in granting access to local authority parks and other designated areas. It is both to support and to regulate, recognising that this is a growing sector which needs attention from the Government and the Oireachtas. I would welcome any proposals to amend and improve the Bill as it passes through the Houses. This is the first step on what I hope will be a journey through the different Stages and I am very open to comment and feedback as we go on.”
The Small Unmanned Aircraft (Drones) Bill 2017 can be examined here.
You can also read the transcript of James’ speech introducing the Bill here. “
Fianna Fáil TD for Kildare North Frank O’Rourke says legislative change is needed to deal with outstanding problems with vehicle parking in Kildare
Deputy O’Rourke made the comments after putting forward an amendment to the Road Traffic Bill 2016 which is currently being debated by the Dáil. If accepted, the amendment will enable Local Authorities to make small alterations to parking bye-laws to deal with problems as they arise.
“Currently Kildare County Council has to go through a full public consultation process when making changes to parking bye-laws. This is needed for ensuring there is proper oversight associated with large scale changes to bye-laws, but it is unnecessarily restrictive when dealing with small issues,” explained Deputy O’Rourke.
“For example the council has to undertake such a public consultation, which includes seeking advice from the Garda Commissioner, when simply wanting to add an additional disability parking place. This is an unnecessarily complicated process and actually discourages Local Authorities from making practical changes to parking arrangements in towns and villages.”
“The Road Traffic Bill is currently being debated in the Dáil and I have put forward proposals to deal with this problem. If accepted, my amendment will enable Local Authorities to make minor alternations to parking spaces, loading bays and the positioning of parking payment machines. This will allow for parking related problems to be dealt with as they arise and will also help cut down on excessive costs.”
“This is a common sense proposal and I am hopeful that it will receive cross party support. There are a myriad of parking related problems in Kildare and it is important that the Local Authority is equipped to deal with these issues,” concluded Deputy O’Rourke.