Ned O'Keeffe (Cork East, Fianna Fail)

Yes. I do not speak in this House very often. I am astounded that the establishment of another committee has been proposed. This Bill is the privilege of the Government, which is responsible for putting the law in place. It does not have to establish another committee. Governments have always regulated legislation. This law will be regulated by the Government of the day. The Minister, Deputy Brian Lenihan, will be responsible for it. Deputy Bruton's amendment proposes that "the Committee shall be chaired by a member of Dáil Éireann who is not a member of a political party whose members form part of the government for the time being". That is a bit rich, in my view. It is the privilege of the Government to appoint the Chairman of an Oireachtas committee. I understand that the Minister and his Cabinet colleagues might have a sneaking admiration for the proposal to establish a committee. A figure of €54 billion has been mentioned. This country's two banks - Bank of Ireland and Allied Irish Banks - are having problems with their debts. I have to say they have stood the test of time on this island and have done a lot for the Irish community. Day after day, I am told that no money is being made available for small business.

When I picked up a newspaper yesterday, I read about the huge food and drink businesses in rural Ireland. I do not understand how they can be short of money. According to the farming section of the Irish Independent, small businesses in the food and drink sector increased their imports to £1.27 billion sterling over the last year. That suggests to me that there is little need for finance. We should kill the idea that one can lend additional moneys to people who do not have the capacity to repay their loans. The uncertainty in the financial markets is playing hell with the whole stock market in this country. I appeal to Opposition Members to be fair and honest in their dealings. They should not be frustrated about this legislation because it will be a major success for the Irish economy. I do not doubt that it will put us on a new footing. There can be no secret about that.

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