Brian Lenihan Jnr (Dublin West, Fianna Fail)

The Deputy began by raising the question of the 800 agencies. My views on the matter are well known. It is under consideration in the budgetary process. I agree that our public administration has become far too fragmented and divided. The Deputy used the term "quango" in reference to these bodies and agencies, all of which are not quangos in the sense that clearly the Central Bank is an institution that every civilised country must have in its monetary system.

During the summer, since the committee conducted that questioning, I read with interest the transcript of the proceedings to which the Deputy referred. I do not want to comment on the questioning or the answers to the questions. I was not present at the committee and could not fully judge for myself the character of the persons answering them, but comprehensive answers seem to have been given to many of the questions asked.

Deputy Burton raised an important question on the accountability of various bodies to this House. It is a practice that has been extended in recent years in respect of, for example, the Garda Commissioner and the Central Bank which have made themselves available for scrutiny to committees. In regard to the financial system and the bodies charged with ensuring financial stability, there is necessarily an element of confidentiality in respect of the operations of such bodies which is essential to maintain the confidence we all have and want to see continued in the banking system.

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