Eamon Gilmore (Dún Laoghaire, Labour)

I, too, on behalf of the Labour Party oppose the Order of Business presented by the Government. The Bill before us, the National Asset Management Agency Bill, is the most important economic legislation that has come before the House since Independence. Not only today's taxpayers but future generations of taxpayers - our children and even our grandchildren - may pay for decades to come for the measures proposed by the Government today. The Labour Party is opposed to this legislation and we have proposed an alternative.

The circumstances in which we are dealing with this legislation are extraordinary. First, it is still unclear as to what exactly the Government will put through the House by way of this legislation. We were told it would be introduced last April. A draft of the Bill was eventually published at the beginning of August, but that was changed again and the legislation was published a few weeks ago. We now have been told that further changes may be brought forward, but it is not clear if the Government is in agreement on that. In any event, we have not got an assurance from the Government as of yet as to what arrangements will be made for debating the Bill in the House. Up to today the Government was insisting that this Bill would not be debated in the House next week. I am glad to hear that position may have changed. The Taoiseach should take this opportunity to confirm to the House that arrangements will be made for the Bill to be debated in the House next week.

Arrangements have not being made for the continuation of the debate. I want an assurance that all members of the Labour Party who want to contribute to the debate on this Bill will have an opportunity to do so and that there will not be an attempt by the Government to introduce a guillotine to the debate. We have got no assurance in that regard. Neither have we got any assurance that Committee Stage will be taken in the Dáil Chamber rather than in the bowels of the building in a committee room where it will not get the same degree of either parliamentary or public attention.

The arrangements for the taking of this Bill are not satisfactory for the Labour Party. This is fundamental legislation. On behalf of the Labour Party, I oppose the Order of Business the Taoiseach has proposed for today.

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