Dáil debates

Thursday, 12 November 2009

National Asset Management Agency Bill 2009: From the Seanad

 

12:00 pm

Photo of Joan BurtonJoan Burton (Dublin West, Labour)

The point is proper planning and development did not apply in respect to may of these hotels. Some hotels have been in the country for generations and families work in these hotels. There are very fine hotels but some of them are under very serious threat. More and more hotels were built, driven by the tax breaks, to the extent where there is now a very significant surplus of hotel rooms. There is almost a proposal in Dr. Bacon's report of a NAMA-style process for hotels.

Deputy Mulcahy should note that NAMA for hotels and accelerated tax breaks for hotels stands in marked contrast to the experience of homeowners facing repossession, who have found very little comfort in the Government benches. There is one law in this process for the bankers, the developers and possibly for failed hoteliers. The argument is that the viable sector of the hotel industry must be protected. Ordinary people whose entitlements are being cut feel this very deeply. Child benefit will be attacked, the Christmas bonus will be abolished and people's houses may be repossessed. However, if they were on the Fianna Fáil gravy train for tax breaks, someone would sit down and think about how they could save and protect these people. Proper planning and development will be extremely challenging because of the crony capitalism, in the words of Mr. Peter Bacon in his first report, that infests Fianna Fáil in particular. It has caused a large part of the property collapse. I do not know how the Minister for the Environment, Heritage and Local Government will frame a structure for returning to sensible and strategic approaches to planning. Obviously vested interests will be involved. Nonetheless, I welcome the amendment. I acknowledge that the Green Party was to the fore in suggesting and supporting this amendment.

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