Enda Kenny (Mayo, Fine Gael)

That is typical; the Taoiseach did not answer either question. He was asked how much extra lending would be made available to business as a result of a €4 billion injection into Anglo Irish Bank and how many extra jobs would be saved. The answer, of course, is none. This situation is rotten to the core. The Taoiseach proposes to put in €4 billion, for which taxpayers will pay some levies or charges, to keep the bank alive. The Taoiseach told us this was a systemic failure.

Last September, the Minister for Finance came before the House and stated there was no run on Anglo Irish Bank. We now know that there was a serious run on Anglo Irish Bank. The Taoiseach told the House there were no capital shortages in Anglo Irish Bank. We now know there were serious capital shortages in Anglo Irish Bank. We also know there are ten persons, unnamed, who have loans there of €30 million each. We also know there were serious irregularities in the way business was done. This situation is rotten.

The Taoiseach proposes to seek consent from Europe to put €4 billion into this bank. I speak on behalf of the thousands of businesses all over the country where jobs are being lost this morning, were lost yesterday and will be lost tomorrow, where lending facilities cannot be or are not being made available to them and where jobs are being squeezed as a consequence, and I speak on behalf of the taxpayer. The Taoiseach and his people have sat down with Anglo Irish Bank and discussed the situation with them. He has proposed putting in €4 billion now, to be followed by a further €3 billion at some time in the future. On behalf of the taxpayer, the jobseekers and workers and the business people of the country, I want to know how much lending will be leveraged as a consequence of the €4 billion going into Anglo Irish Bank and how many jobs will be saved as a consequence? He is the Taoiseach and is supposed to know these things. He has the information from his officials, his Ministers and Anglo Irish Bank and I ask him to tell the House what is the situation. What is the story?

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