Joan Burton (Dublin West, Labour)

I accept they have a difficult, technical and sensitive job to do. As one problem after another came to light, they acknowledged that problems existed in the past, while maintaining that the system is fine now. As experienced parliamentarians, we are asking the Minister to level with us. We have been elected by the people to come here. The Government has certain responsibilities and powers, just as we do. As Opposition Deputies, we have the power to ask questions.

I intend to press this amendment. I thank the many people in the Labour Party who spoke with some consequence about the implications of this measure. I also thank those in Fine Gael and Sinn Féin who spoke about the consequences of this. What we have to say on this is borne out by what the Minister just told us with regard to the potential extension and the very brief statement I saw this evening made by a press secretary in the Minister's Department that there are further possibilities of other organisations and institutions being added to the scheme.

I accept what the Minister and the Taoiseach stated yesterday which is that this is about a guarantee. Nonetheless, section 6 contains sweeping powers for the Minister to provide any form of support to an institution which he or she deems fit. Among the forms which are listed are loans, equity, debentures, preferred stock, near equity and an entire description of practically every financial instrument of which I am aware. While the Minister spoke about guarantees, and I accept this is the intention, the law of unintended consequences has already moved in the 48 hours since the Minister spoke about this. The taxpayers of Ireland deserve the protection of this amendment.

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