Jim O'Keeffe (Cork South West, Fine Gael)

Why does he adopt this approach if such a horror tale is unfolding before the House in support of Deputy Hogan's Bill?

The Minister referred to the appointment of Professor Niamh Brennan. The only ray of hope I saw from this Government in respect of this horror story was the appointment of Professor Niamh Brennan. I do not know her personally although I spent a number of years crossing swords with her husband and enjoying it. Anything I have heard about her points to someone who is sincere, dedicated and capable but she is the chairperson of the authority and is committed to a certain job in this respect. She is not someone who can forensically examine the authority from the outside and report to an outside body. She must report to the board. I commend her appointment; she now has a job to do and should get on with it.

We still need an external examination of the activities of this authority. The case for the appointment of the Comptroller and Auditor General is unanswerable. We are not talking about small money; it is a substantial sum amounting to hundreds of millions of euros. The way the contingent debt for the taxpayer was accumulated points to a clear breach of the State's code of corporate governance and to deals that are suspicious at the very least and will unfold as corrupt. Who will lay the tale before this House and before the Committee of Public Accounts unless there is an outside examination of the entire activity of the authority?

I have been a Member of this House for quite some time and I want to see a proper process and procedure. I do not know the details on the ground but I will leave that to my Dublin colleagues. I am well aware of the excellent work of this authority and I would like to see it fully back on track. This cannot be done until the financial boil is lanced. The way to ensure that this does not happen to the authority again, or that it operates as a warning to other authorities that may go down the same path, is to adopt the principle of the Fine Gael Bill.

The Bill proposed by Deputy Hogan is the correct approach and I do not say this from a political point of view. It is the right thing to do in this terrible situation of financial exposure for the taxpayer. It will achieve the effect of ensuring the full facts are disclosed, to which the public is entitled. The public is also entitled to an assurance that this scandal will not be repeated. The way to do so is to adopt the proposal in Deputy Hogan's Bill and to accept the proposal that the Comptroller and Auditor General can audit the accounts and produce a full report so that the matter can be dealt with before the Committee of Public Accounts.

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