Dick Roche (Wicklow, Fianna Fail)

I make that point because it is becoming jaded for us to argue continuously that local authorities do not have money. The major issue now is that local authorities have taxpayers' money, €9,000 million in one way or another in the coming year. That is a huge amount and explains why I have introduced the amendments on the audit committees. Deputy Gilmore was partly correct, the committees have not worked. I agree that local authority members find it challenging to deal with the funds that come forward. Local authority accounts are impenetrable and when talking about the expenditure local authorities are dealing with, it is important we strengthen the audit process. We do not get value for money for every penny spent in all parts of public administration but I would be hard to persuade that we get 100% value for money in local government.

In amendments Nos. 1, 2 and 11 we see a different form of audit committee with external membership to provide an alternative view and assess and promote efficiency, review the financial and budgetary reporting relationship, foster the development of best practice, review the auditor's report, review risk management and make other recommendations to the members of the local authority.

I will bring forward specific regulations to deal with audit committees, the holding of meetings and so on. Regardless of whether they should comprise five or seven members, they should be small. It is important that significant additional expertise is injected into local government because it is no longer a Cinderella service starved of funds; it handles a vast amount.

I am grateful to Members who contributed. The reason for the speedy passage of the legislation is the proposal has been around since 2001. It is a good proposal and business interests are anxious to get on with the process, as Deputy Crawford mentioned. We are enabling a new partnership between local government and businesses from which everybody will benefit.

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