Sean Barrett (Independent) | Oireachtas source

In the light of the peak of friendship in relations between Ireland and the United Kingdom after the highly successful visit by President Higgins to the United Kingdom last week, I seek a debate on Northern Ireland in which I ask the Acting Leader to invite the Tánaiste to participate. It is important that this time the momentum of goodwill is not lost. The relations between our Head of State and Queen Elizabeth, to whom Orangemen and loyalists profess their loyalty, could not possibly be better. Moreover, the working relationship between the Ceann Comhairle and the Speaker of the Northern Ireland Assembly, Mr. William Hay, working on the North-South Interparliamentary Association, is most cordial. Indeed, the Donegal parade at Rossknowlagh has been a model for such parades for quite a while. As we again approach the marching season, Northern Ireland does not need to have its trade and tourism disrupted by it. Members should seek to bring forward policy initiatives that would take out the tension from the marching season. This would be a good time to do it. The Tánaiste should facilitate the House and the Acting Leader should ask him to come in.

The second matter I wish to mention is the raising by the Minister for Finance of the option of a quick sale of National Asset Management Agency, NAMA, assets. It is among a number of options, and the quick sale of these assets has many attractive aspects. Non-performing assets would be transferred to new owners and a fall in asset price could stimulate the economy. Holding onto assets in the hope that asset prices might pick up at some stage delays the recovery of this economy. The ghost estates should be sold, for example. While they may be built in the wrong places, people can trade off longer commuting distances and get a bargain there. As Senator Quinn and I have observed, upward-only rent reviews also delay the recovery. It is not desirable to have NAMA hanging around for decades longer than it is needed, as happened with the old Land Commission. Consequently, the option of asset sales and the fall in asset and property prices should be perceived as a way in which to stimulate the recovery, which already is under way. While this could be a major boost to it, holding onto assets forever and holding onto NAMA for a long time, as was done with the Land Commission, will delay the recovery of this economy.