Mr. Donohoe raises Mica compensation case with banks

Finance Minister Pascal Donohoe told Dell that he would raise the issue of banks contributing to the MICA compensation scheme « in the coming weeks ».

Sinn Féin’s financial spokesperson, Pierce Doherty, asked the minister about families whose homes have been damaged by mica and who want to move their home.

In response, Mr. Donohoe said retail banks are making a business decision about who to lend to, and he can’t influence that.

“However, Representative, I am of course aware of the great importance of this issue in the many mica-affected communities,” he said, adding that he would raise the issue with banks “in the coming weeks.”

More than 4,000 homes have been affected by mica defects, mostly in the Inishowen Pensinsula, but also in other parts of Donegal and parts of Co Mayo.

The defect of the block is primarily due to the presence of an excessive amount of mica in the manufacture of the blocks.

The walls in many homes are cracking and collapsing due to their weakness.

In late 2018, the then government approved a remedy plan, which opened for applications last summer.

last week , Tenist said the government accepts there should be an enhanced remedy plan for those whose homes have been destroyed by the mica problem..

At The Dáil today, Mr Donohoe said he understood the « chronic stress and anxiety it has caused ».

Mr. Doherty asked if the Secretary had any contact with the banks regarding their contribution to the equity scheme.

The minister said that he « has not yet dealt with the banks regarding a contribution that may or may not provide such a plan in the future. »

He said the government needed to look at how to pay for the equity plan, and said he would talk to his cabinet colleagues on the issue.