Joan Burton (Dublin West, Labour)

I welcome the amendment and the comments of Deputy Gogarty because this amendment was put forward by the Labour Party to provide a context in which proper planning and development could inform any decisions of NAMA and be taken into account. In practice it will be very difficult to realise because it will be genuinely difficult to achieve proper planning and development in the aftermath of the bursting of the construction bubble.

Last night we heard from Dr. Peter Bacon, a consultant, whose report suggested that 20,000 hotel rooms must be taken out. The hotels were built on the back of tax breaks, even though people such as myself called for the Government and the then Minister for Finance, Deputy Brian Cowen, to desist. However, he could not do so, even when reports from his own Department indicated the sell by date was past.

This will be difficult to do and there will have to be a very strategic approach to cluster and re-group what is left to ensure what comes to NAMA is used in a coherent and sustainable way to assist with economic planning and development. I note the comments of the Minister for the Environment, Heritage and Local Government regarding some towns with zoning dating forward to 2040 and 2050. It will be difficult to implement this in practice. However, if we can get to a basis of sustainable planning and development, we can work it into the NAMA framework and it could make a contribution.

As a people, we must restore large areas of the economy, especially in the tourism sector. We must so do in a strategic and coherent way that is not dependant on the political power carried by many individuals involved in that industry, especially within Fianna Fáil. It is remarkable from travelling to many hotels throughout the country how many of the corridors have a photo display dominated by Fianna Fáil political figures.

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