Enda Kenny (Mayo, Fine Gael)

It is only appropriate, on the day that is in it, that the House should take note of the outstanding sporting achievement of the weekend — the winning by the Irish rugby team of its first Grand Slam for 61 years. The House will agree that it should pay due tribute and give due credit to Declan Kidney, Brian O'Driscoll and all those associated with the victory. I was one of the team's supporters in Cardiff, in a cauldron of sound, on what was a momentous occasion for the green jersey brigade. I say "well done" to them. I also compliment Bernard Dunne on his fabulous individual performance in winning the world super bantamweight title, matching Barry McGuigan's achievement of 24 years ago.

It is possible to contrast that level of euphoria with the despair, fear and confusion of many families, caused by personal circumstances such as unemployment, which stands at over 350,000 and is rising by 1,000 a day on occasion. Those who are being charged interest rates of over 20% on personal overdrafts are genuinely and absolutely fearful for the futures of their families. They are being asked to make huge upfront payments — €40,000, €50,000 or €60,000, in some cases — to change from fixed-rate mortgages to variable-rate mortgages. Many of those whose houses have not yet been repossessed are fearful about the possibility of their houses being repossessed.

We are aware of what is happening with a small number of individuals in financial institutions. They have thanked the Government and the taxpayer for the guarantee that now applies to the financial institutions by engaging in disgusting behaviour. On occasions, they have literally shown the finger to the taxpayer. I understand that one of the gentlemen in question has secured an obscene defined benefit pension. He was awarded a bonus of €1 million after the legislation to guarantee the financial institutions was passed by this House.

I hope the Taoiseach is aware of the extent of the anger on the streets about this issue. People are absolutely appalled that this should be allowed to go on. The Minister for the Environment, Heritage and Local Government, who once more is not present in the Chamber, has said that this position is untenable and that it cannot go on. The Minister for Foreign Affairs has said that a request has been made for a sum of money to be paid back. The Green Party has given its view. The Tánaiste and the Taoiseach have been quite trenchant from the beginning. What will we get at the end of all of this? So far, we have got a statement from the Minister for Finance saying that there will be an investigation and that another report will be published inside a month. It is always the same, another report.

I ask the Taoiseach to clarify for the House what is the position of the Government in so far as Irish Nationwide Building Society is concerned, and on the return of a €1 million bonus paid subsequent to the guarantee legislation going through the House, which is certainly outside the spirit of the law. I ask the Taoiseach to inform the House of what he intends to do about this in the immediate term so that we will not have another situation where all we are left with is a response from the Department of Finance and the Minister for Finance, another report, another investigation, and will have to wait another month and hope it will blow over.

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