Insolvency bill - Assurances too vague

There has been great angst in some circles over the implications of the Personal Insolvency Bill, due to be published tomorrow.

The Taoiseach has talked to the banks about the legislation, but he was unwilling to answers questions at a press conference on Tuesday, and he appeared almost as vague in the Dáil yesterday about the possible suspension of supplementary payments to people in trouble with their mortgage repayments.

The scheme was introduced to help those who could afford the mortgage when they took it out but have since run into difficulties as a result of the economic downturn. The supplements were not on the repayment of loans but merely on the interest payments.