Brian Lenihan Jnr (Dublin West, Fianna Fail)

No, the Bill is being used as a convenience to address the issue. Regrettably, this will not represent a major windfall for the Exchequer. Ulysses Securitisation plc holds some €127 million in cash but it is already borrowed by the Exchequer as ways and means borrowing. Therefore, this amendment will not represent an improvement in the fiscal arithmetic. Rather, it is a legal tidying up arrangement.

See this speech in context