Michael Ahern (Cork East, Fianna Fail)

The motion also states that the Honohan report excoriated the then Minister for Finance, Deputy Brian Cowen, for extending "property tax reliefs for developers in 2006 at the height of the property bubble". The Minister reduced many of the tax reliefs available at that time. When asked the reason he did not abolish property tax reliefs immediately, it was pointed out that such a step would have had legal consequences.

Deputy Burton indicated that the Government's policy on Anglo Irish Bank is costing €22 billion. As was explained to the joint committee, the closure and liquidation of the bank would cost up to €45 billion. The Labour Party should explain the reason it supports a policy that would result in a €45 billion loss to the economy.

I regret I do not have more time. I commend the authors of the two recent reports on the important work they have done on behalf of society.

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