Mick Barry (Cork North Central, Solidarity) | Oireachtas source

I will do my best Lieutenant Columbo impression. I am not sure I understand this, but I think I do. A €150 million bank levy was paid by five banks last year that between them controlled 100%, or at least the vast lion's share, of the Irish banking industry. This year, €87 million will be paid by three banks that between them control 100%, or the vast lion's share, of the Irish banking industry. If I am wrong, correct me, but it seems to me that is broadly correct. In other words, the banks that control the entire banking industry paid €150 million last year and will pay €87 million this year. I am not an expert on banking or mathematics, as Lieutenant Columbo might say, but that is, in effect, a gift of €63 million to the Irish banking sector.

That is bad enough as a stand-alone fact, but it is worse when coupled with the kind of examples given by Deputy Doherty at the start of this discussion of householders in Donegal, whose houses are crumbling around them, being told they cannot get 100% redress for something that is no fault of theirs. A factor in that situation is the various vested interests that are not being made to pay, one of which is the banking sector. There is something wrong about that whole equation. There should be an increase of €63 million in the levy paid by the remaining banks that control the Irish banking market. Maybe that needs to be teased out a little and a report would be useful in that regard.