Thomas Pringle (Donegal South West, Independent)

I welcome the opportunity to speak on the Dormant Accounts (Amendment) Bill 2011. As outlined by the Minister, this Bill enables the dissolution of the dormant accounts board, a recommendation of the so-called McCarthy report which claims savings of €1.7 per annum could be achieved from doing so. However, the Minister, in response to parliamentary questions in this House, stated that the cost of the operation of the board in 2010 was only €118,000. Preparation and enactment of this Bill, in terms of its progress through both Houses, will possibly cost more than the operation of the board last year.

I am concerned about the removal of the board's oversight function. As stated by Deputy Stanley, the operational costs of the board could be greatly reduced. For example, the cost to the board of consultancies in 2010 was more than 30% of its operational costs. There is scope for reductions in this area, which would make the board more cost effective and allow it to maintain its oversight function.

The Bill also provides that a disbursement scheme will be laid before the Houses of the Oireachtas. It is stated this will strengthen the oversight role of the Houses. However, like other speakers, I believe this provision, which provides that the Oireachtas can only withdraw the disbursement scheme and cannot propose any amendments or alterations thereto, does not provide for any oversight role at all, although it may allow for some form of debate here if pushed on the floor of the House. That, however, would be the only role of the Oireachtas in this regard. The Minister should consider providing the Oireachtas Joint Committee on the Environment, Transport, Culture and the Gaeltacht with an oversight role in respect of the disbursement scheme and with the power to make recommendations which the Minister, in drawing up the disbursement scheme for the dormant accounts funding, would be obliged to take on board.

It is vitally important that dormant accounts funding reaches the disadvantaged groups it was intended to assist. The Oireachtas should have an oversight role in this regard, perhaps through an Oireachtas committee which could make findings and have a proper input into disbursement of the funds. This Bill might not be necessary given that the savings to be achieved as a result of dissolution of the board might not be as great as outlined in the McCarthy report. There is general concern that this fund will be a Government fund and operated as such rather than a fund to help people in disadvantaged areas, as originally intended.

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