Brian Cowen (Laois-Offaly, Fianna Fail)

Regarding the timetable for legislation, it is a priority for the Government. The purpose of the legislation is to establish and govern the operation of the NAMA. We hope to introduce it in the summer session. Preparation of the legislation for the NAMA management structures and operating procedures will be initiated immediately and run in parallel. The Government will explore the possibility of establishing the NAMA on an interim basis to undertake the initial scoping, valuation and recruitment work required. Provision for the appointment of the chairperson and chief executive officer and the constitution of the board will be addressed in the legislation.

Regarding the other matter, we have outlined that the Government intends to suspend the payment of ministerial pensions to sitting Deputies and Senators in the next Oireachtas. Having regard to the existing legal entitlements, the Government will engage in a consultation process with a view to introducing a proportionate reduction in the rate of pension payable to former Ministers sitting in the current Oireachtas, having regard to the pressure on the public purse and the need for public representatives to set an example.

Increments are being frozen from budget day. In the next Oireachtas, the question of not going ahead with them in the future will be dealt with in legislation, with a view to ensuring that the pensionability aspect of those increments is taken into account.

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