Enda Kenny (Mayo, Fine Gael)

The reply does not deal with many of the questions asked. The Taoiseach previously said that moneys would only be provided as a last resort, but now says money may be made available from the National Pensions Reserve Fund, or otherwise. What does that mean? Do the plans involve venture capitalists from abroad or other sources of private equity? My understanding was that business plans should have been provided to the Government following the detailed discussions with the banks. The statement on Sunday merely buys time for the Government to the extent of several weeks. We do not yet know of the specific date when the Government intends to implement this plan. Credit is going down the tubes and 35,000 jobs have been lost. I can see from travelling throughout the country that the keys of business premises will be thrown back at banks by the end of January and February.

My call for a recapitalisation of the banks several weeks ago was based on genuine concern. If it was genuine concern then it is a good deal more serious now. The Government requires the authorisation of the House to take money from the National Pension Reserve Fund for recapitalisation. When does the Government propose to introduce that legislation? Will it be this week or when the Dáil resumes following Christmas?

The Minister for Finance said one could not expect the people who led us into this mess to lead us back out of it. The same applies to the Government, because it was the Minister for Finance who said the reason we are in this mess is that this is where the people wanted us to go and that the housing boom was based on low interest rates from the European Central Bank. Will the Taoiseach comment on this and on whether the Government intends to set new capital ratios for the banks?

Another essential element of economic recovery is managing the national pay awards. I am at a loss to understand the Government position on this matter. Although other Ministers said this agreement would be paid, the Minister for Health and Children said on Sunday night that money would not be provided for the Health Service Executive next year. Do I take it from the Minister for Health and Children's statement to the nation that the revised health programme, approved by her, is predicated on the basis that there is no money for that revised programme in the HSE budget? I remind the Taoiseach of his comments to the effect that money was not provided for the national pay awards for the HSE next year. Will the Taoiseach confirm who is telling the truth? Is it the Minister for Health and Children or the other Ministers? What is the position regarding her statement on Sunday night? Will the national pay deal proceed or not? I have publicly given my view on this matter. The Taoiseach said he issued a statement saying the matter would be discussed with the unions, but later the same night another statement was issued stating something else. What is the position?

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