Kieran O'Donnell (Limerick East, Fine Gael)

In respect of the €5 billion available to NAMA as development capital, how long will it take the Minister to develop and lay before the House a detailed business plan for the disbursement of this money?

I welcome the Green Party Members to the House. Deputy Cuffe is like a sunshine player in that he flits in and out. The Green Party Deputies remind me of Animal Farm in being more Fianna Fáil than Fianna Fáil itself. It is a bit rich for them to lecture us when they are propping up a Government which has brought the property market to the point where we have to bail out the banks through NAMA. If they were committed to the legislation, they would come into the House to debate it. I do not doubt that Deputy Cuffe's contribution contained an element of enthusiasm for speaking on the record but he did no justice to the debate.

This is a serious matter which involves €54 billion of taxpayers' money. We do not agree with the legislation but want to ensure that it is as effective as possible. The amendment proposed by Deputy Burton is welcome in that regard. NAMA's success will depend on planning and producing a business plan for the disbursement of the aforementioned €5 billion. This should only be the start of that process. When the board is formed, the Minister should revert to the House with proper plans for the money.

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