Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Let me make two points. First, on what the Minister said regarding who needs to be present in this debate, his point is correct. I have been present for all of this debate. If the Minister was in attendance at the debate, he would have heard the Central Bank state that dealing with the issue of securitisation allays the majority of its concerns. That is first and foremost. It has been repeated time and again that the drafting of the Bill is not intended to have an impact on the issue of securitisation and that it would be amended or the position clarified on Committee Stage. The Minister can throw out accusations that I am reckless, not aware of potential consequences and all the rest and state that the Department is paying for this. That is fine. I am sure we could ask that an independent analysis be carried out in respect of the effect vulture funds have had on people who have lost their homes. Perhaps he would not be so willing to have such an analysis.

With that parked to one side, the question is how we find a way forward. As stated, I do not fear anything in the context of testing this. However, it has been months since this passed the Dáil and we have had a process of scrutiny in regard to it. The concern I have is that the independent analysis is linked to allowing this to proceed to Committee Stage. I have no problem with the proposal from Deputy Michael McGrath to the effect that the committee agree to an independent analysis and we can look at the type of analysis we carry out, which is something I would support. However, I would also ask the committee to allow this Bill to move to Committee Stage on the understanding that it will not proceed further until the independent analysis has been completed and we have had time to reflect on it in order that we might shape whatever amendments we wish to bring forward in respect of the report.

Otherwise, and let us call a spade a spade. What is happening here is about scuttling the Bill. That is the reality. There is a divergence of opinion and, obviously, Fine Gael has stated clearly and consistently that it is opposed to this Bill. That is its entitlement. We can do two things. We can agree to carry out an independent analysis, within a timeframe of two months to look at what the analysis needs to cover. Deputy Michael McGrath has captured much of that. We can also complete this report, which would allow us to report to the Dáil with a recommendation that we proceed to Committee Stage, on the understanding that Committee Stage will not happen until the independent analysis, which allows us to be more informed, has been completed.

The independent analysis is post scrutiny. Scrutiny is complete. Otherwise, this is stalling. In my view, this is a fair compromise. Although it is up to Deputy Michael McGrath to suggest whether he supports that.