Gallagher backs debt forgiveness calls

Presidential hopeful Sean Gallagher has backed calls for a debt forgiveness scheme for struggling homeowners.

The businessman said the issue has been repeatedly raised by voters as he travelled across the country and said he hoped some form of relief can be considered.

Economist Morgan Kelly has also suggested a write-off scheme, estimating it would cost up to €6bn.

Mr Gallagher said: “I sincerely hope that the Government can find a way in order to create debt forgiveness for many people, because many individuals and families are heavily burdened, and I would very much support that as an approach to help ease their suffering and their current pain and concerns.”

Despite the call from Mr Kelly, junior finance minister Brian Hayes poured cold water on the idea, claiming there were problems with the proposal.

Meanwhile Mr Gallagher has proposed saving the taxpayer up to €10m by calling for all candidates to appear on one single campaign leaflet per voter, instead of distributing one each.

He claimed the cost of sending leaflets to each voter for up to seven candidates would be €11.63m, but one would cost €1.66m.

“I have consistently said that I want to run my campaign as cost effectively as possible,” he said.

“I believe that spending vast amounts of money at a time when families and communities are really struggling is obscene.

“This is just one measure, but I am hopeful that it will help to make a positive difference.”

The 'Dragons’ Den' star said he has written to Environment Minister Phil Hogan setting out his proposal and called for other candidates to consider it.

Mr Gallagher said that if he was elected to the Áras, he would accept the salary set by the Taoiseach, claiming he had not entered the campaign because of the money.

But he would not be drawn on whether he would take a wage cut if he was elected to office.

The Cavan businessman has received motions of support from five councils - Longford, Donegal, Clare, Leitrim and Roscommon.

He needs the support of four councils to be formally declared a candidate in September.