Brendan Howlin (Wexford, Labour)

The Deputy mentioned that the Taoiseach is on his way to Brussels with the Tánaiste for a very important European summit. The agenda item we have sought for the best part of a year, to refocus the EU commitment to growth and jobs, will be crystallised today with concrete measures to the value of €130 million. That will have an impact on our requirement to stimulate the economy. I will bring specific proposals on that to the Government shortly. The Minister for Finance and I will meet the president of the European Investment Bank to deal with that issue.

Deputy Ross also makes mention of a large issue of great focus over the next coming days. We need a resolution to the ongoing banking crisis in order for the domestic economy to recover. We need a solution to the eurozone crisis and we have brought proposals to the table in that regard.

The Deputy specifically mentioned AIB. I do not intend to make good, bad or indifferent comments about specific audit firms but we are fundamentally examining the way we procure any service. AIB is not a State company but is largely owned by the State. The State has invested a huge volume of taxpayers' money. I assure the Deputy we are driving new procurement arrangements to ensure all services, whether audit or legal services, are properly tendered. I am not familiar with the specifics because it is not in my direct area of responsibility but I will pass on Deputy Ross's views to the Minister for Finance.

See this speech in context