Michael D Higgins (Galway West, Labour)

We need to break the culture and now is a good time to do so. This has happened in the United States and Britain and it is happening in Europe. I do not have time to develop that argument other than to note that the issue involves more than persons or personalities. We need to break an arrogant circle of people who never justified their remuneration.

For those who want to make a connection between this culture and the real economy, the analysis has been hopeless and our instruments are equally dangerous and blunt. For example, a cleaner in this House who is a public servant will pay the new levy, whereas a cleaner working for a contract firm will not do so. This is a proposal for war among the poor. We have not touched the €500 billion in tax relief given to private landlords or the many millions that lazy directors, including those who operate within the diseased culture of banking, fork into their pension funds.

I have spoken for five minutes but IBEC has failed in all its months of air time to utter one word about Seán FitzPatrick or the culture of banking. However, every hour it makes new attacks on public service workers. Shame on its cowardice. It represents that which has to be replaced.

We need a new culture of banking which is attached to the real economy. I concur with Deputy Fahey that we should stop this nonsense of refusing loans to people who are trying to retain jobs and remain in business. That is the practice at present in every city and town in Ireland.

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