Shane Ross (Dublin South, Independent)

It is a racket and is run by the big four auditors, who pass it around for years. It disappoints me that the Government, as full owner, is continuing to allow this racket to continue. There is an opportunity for the Minister to say to the House that it will not continue, that auditing will be put out to tender for all State-owned banks and that he will insist the fees are lower. Fees amount to €50 million over a number of years and €4 million for KPMG last year. I do not see why we should be so coy about naming the auditors involved because they are responsible and are receiving the money. This is a favoured company that has not performed up to scratch.

The insolvency Bill will be published tomorrow. Is the Minister satisfied that the horrors it will bring, in terms of greater mortgage debt relief, are provided for properly-----

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