Éamon Ó Cuív (Galway West, Fianna Fail)

Will the Tánaiste confirm that, irrespective of the advice the Government receives from the Financial Regulator, it is its intention to ensure the interest rate cut is passed on to customers and that it will be backdated to the date it came into force and that whatever steps need to be taken, along the lines I have outlined to him, be it legislation or removing directors, will be taken to ensure the interest rate reduction is passed on? As he rightly said, this was done by the ECB to help customers, not the banks?

My second question is on a matter the Tánaiste did not address. Is it his intention to instruct the State-owned banks that they cannot pay more than public service wage rates.

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