Enda Kenny (Mayo, Fine Gael)

With respect, the Taoiseach is wrong. Section 50 of Statutory Instrument 411 of 2008 under the Credit Institutions (Financial Support) Scheme 2008 states:

A covered institution shall manage the business of its group at all times with a view to furthering the purposes of this Scheme and the Act of 2008. ....the Minister may require certain obligations of this Scheme, as he or she may specify in writing to the covered institution, to apply to the parent of a covered institution or any member of its group as a condition of benefiting from this Scheme.

The Government took specific powers to deal with wages in respect of higher levels in the covered institutions. Under this statutory instrument, which is part of the Bill passed by the House, the Minister took the authority to indicate in writing to a covered institution that if the scheme is being brought into disrepute, he can, in writing, instruct the covered institution in question to obtain and maintain certain obligations. I charge that under section 50 of the Bill, which went through the House and gave the Government authority to deal with the banks, the Minister for Finance is entitled to instruct Anglo Irish Bank, in writing as per this section, that these wage increases, which cannot be and are not justified, should not be paid. This is not the time to acknowledge increased responsibility with cash. This matter goes to the very heart of what is unfair in this country under the Taoiseach's style of government.

I charge that, under section 50 of the statutory instrument, where this scheme is being brought into disrepute in the eyes of members of the public the Taoiseach can instruct his Minister for Finance to require adherence to certain obligations. No wage increase should be paid in circumstances in which a defective policy will result in the Government asking the public to write a cheque the Taoiseach stated would be written irrespective of the size of the sum involved. Section 50 gives the Government authority and power in this matter and I ask the Taoiseach to use it. Wage increases in Anglo Irish Bank cannot be justified, are not justified and will not be justified by Irish people.

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