Insolvency rules balance fairness with mercy
THE Personal Insolvency Service required the legendary wisdom of Solomon over the past few months as the agency's officials drew up a list of luxuries that will be forbidden to families who want to cut a deal on their mortgage debts.
That list can look harsh at first glance but it seems to be a reasonable attempt to balance fairness with mercy. It also poses the interesting question of what constitutes a luxury in modern Ireland and what constitutes a necessity.
The decision to force families seeking mortgage write-downs to drop private health care is possibly the most controversial demand – but it is also one of the easiest to justify. There is simply no credible way that the half of the population who do not use health insurance should effectively subsidise those who do.