Finian McGrath (Dublin North Central, Independent)

I strongly support the Labour Party amendment as it puts customers, staff and the interests of citizens first. The key proposal, to appoint one or more inspectors, is positive and constructive. The amendment refers to fraud and other misconduct, practices which have been taking place and must be tackled head on. The issue here is one of accountability and fair practice.

During my time as a principal of a small school in the north inner city, inspectors from the Department of Education and Science regularly visited to examine the school's books. If one was one penny over budget, one was hauled over the coals to provide an explanation and ensure taxpayers' money was properly spent. Hundreds of small schools in disadvantaged areas are coming under pressure. They must be accountable and operate within their budgets or they will be assessed and criticised by inspectors from the Department. I make this point to emphasise that while many people treat public money with respect, others have not treated money belonging to investors, customers and small businesses with the same respect. Many of these people hammered politicians for the past seven years, arguing that they could run the economy without the support of politicians. These right-wing capitalists have been out of control for the past 11 years.

This debate must be about stopping people from getting away with such behaviour. There seems to be one law for the rich and one for the poor. A number of Deputies referred to individual cases. I recall that during the row over bin taxes a number of those who fought for a fairer taxation system were sent to jail. The type of carry-on which has occurred is not acceptable.

I welcome the sensible proposal to give the inspectors powers to go after fat cats. The amendment refers to cases in which not all information has been provided. In recent weeks, it emerged that people in high positions failed to provide full information. This is not acceptable given that these same people have demanded accountability for years. We now demand accountability. The amendment, if accepted, would at least provide some protection to citizens as well as the customers and staff of Anglo Irish Bank.

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