Denis Naughten (Roscommon-South Leitrim, Fine Gael)

I thank Deputy O'Donnell for moving the motion. I listened intently to the Minister for Social Protection, Deputy Ó Cuív, who referred to constructive opposition. He was correct in what he said. However, I recall what happened when Fine Gael introduced the Good Samaritan Bill, which dealt with those who might to go the assistance of people who suffered heart attacks or who were involved in road traffic accidents. Everyone agreed with the sentiments expressed in the Bill, which was originally proposed by the Law Reform Commission, but the Government voted it down because it was put forward by the Opposition. I take any suggestion from the Government in respect of constructive opposition with a large tablespoon of salt, particularly as it was not prepared to accept a simple item of legislation on which everyone was agreed.

Fine Gael also put forward a proposal in respect of a detailed job strategy, which would have created substantial numbers of jobs by means of investment in broadband and water and energy infrastructure. That proposal was welcomed by the then Government Chief Whip, Deputy Pat Carey, and the Minister for Finance, Deputy Brian Lenihan. However, it was rubbished by the Taoiseach because it happened to come from the Opposition.

Those in opposition have been prepared to put forward positive, constructive ideas. However, the difficulty has been that the Government has not been prepared to listen to what is being said by those on this side of the House. We have put forward constructive proposals that are designed to fix the public finances and the banking system, address the appalling vista that is our health service, support and foster innovation and restore competitiveness within the economy. However, these were all rubbished purely because they emanated from this side of the House.

Let us consider the recently published reports on the collapse of the banking system. The Honohan report points out that fiscal policy and budgetary measures aimed at boosting the construction sector were significant factors in contributing to the unsustainable structure of spending in the economy. As we are aware, the policy to which I refer was developed in the Galway tent at Ballybrit. It all revolved around the lead party in government, Fianna Fáil, ensuring that its nest was feathered. It was a case of "You scratch my back and I'll scratch yours".

Deputy Bruton and other Fine Gael Members consistently pointed out that it was wrong to base permanent spending commitments on unsustainable tax revenues. However, the Government ignored what was said. The reality is that the Taoiseach and former Minister for Finance, Deputy Cowen, and the banking and regulatory systems he oversaw were guilty of astonishing failures in the area of economic management. As a result, ordinary citizens are being obliged to pay the price through the imposition of pay cuts. These ordinary citizens include carers, disabled persons, the blind, young families who are being obliged to meet increased mortgage payments and those who have lost their jobs. FÁS has predicted that this year 335 jobs will be lost each day. As a result, many people are going to be obliged to emigrate.

Ireland is facing major economic challenges as a result of the mistakes made by bankers, the regulators and Government Ministers. Those mistakes have caused hurt to families and small and medium-sized businesses. The Government has ignored the expert advice that was presented to it. A couple of weeks ago, the concerns of Professor Morgan Kelly - who previously issued warnings about what was going to happen - in respect of the possibility of the country going bust were again dismissed by the Department of Finance. The Financial Regulator was both complacent and complicit in respect of what happened in recent years.

One of my constituents recently told me a story about his mother in law, whose sole income before she died was a non-contributory old age pension. When she passed away, it was discovered that she was €3,500 in the red on her credit card. When I asked what had been her credit limit, he informed me that it was €5,000. How could an old age pensioner in receipt of the basic payment from the Department of Social Protection be given a credit limit of €5,000 by any financial institution? The answer is that a blind eye was turned in respect of such matters in the past. That is the fundamental flaw that existed and it is the reason so many families are struggling to cope at present. The banks, literally and irresponsibly, shoved money at people and the Financial Regulator merely stated, "Well done, lads, keep at it".

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