Enda Kenny (Mayo, Fine Gael)

I thank the Deputy for his having arrived at a point of distilled wisdom after all the years. I agree on behalf of everyone else in the House that Members should have the capacity to have authority to investigate such matters properly. The Nyberg report speaks for itself. However, what it does not state is that the entire culture was such and that banks knew they were lending too much and in many cases, borrowers knew they were borrowing too much. I recall being in the House during the controversy caused by a former Taoiseach to the effect that if people were a bit concerned about the housing business or that the housing boom might fail, they should go off and commit suicide. When the Nyberg report came before the Cabinet, it discussed this and people want those who were involved in reckless lending and the pursuit of such activities to be legitimately questioned. The Oireachtas does not have the authority to do this because of the current legislative constraints. The Government intends to change this and will ask the people for their authority and imprimatur to deal with the consequences of the Abbeylara judgment. This will give the Oireachtas the right to investigate the facts, without criminal intent being determined, in the way people desire in respect of accountability. This will be the oversight that Members must have and will get. The Government will bring forward its views shortly after Easter on the new committees and the numbers thereof, which will be seriously reduced. These committees will have the opportunity to deal in a real way with issues that come before them. In respect of the matters arising from the Nyberg report and for all future occasions, I want elected Members of the Oireachtas to have the right to have compellability whereby witnesses may be called before them to investigate facts regarding which the electorate is rightly and thoroughly outraged.

See this speech in context