Peter Power (Limerick East, Fianna Fail)

I thank Deputy Burton for her amendment. This was an issue which arose on Committee Stage. The Minister indicated that he is agreeable to the broad thrust of including this aim and objective as part of the legislation. As the Deputy will be aware, he will introduce his own amendment to this section to deal with the issue and the proposal of Deputy Burton. The Minister's amendment inserts the words "to contribute to the social and economic development of the State", but this, in addition to the existing powers, aims and objectives of NAMA which were set out in the legislation, will make it explicit that one of the purposes of NAMA will be to contribute to the social and economic development of the State. Given the Minister's amendment, although slightly differently worded than Deputy Burton's amendment, he would suggest that this is the more appropriate way of dealing with it.

The Deputy would ask, correctly, why the word "sustainable" is omitted at this stage. That is not to say the Minister is not in broad agreement with what the Deputy is trying to say, but there are circumstances where it could be envisaged that developments would not be permanent in nature. Even though they might contribute to the economic and social development of the country, they need not necessarily-----

See this speech in context