Joe Higgins (Dublin West, Socialist Party) | Oireachtas source

I would put it to the Taoiseach straight that it is time to stand down this IFSC Clearing House Group in its present manifestation and that it cannot be defended in view of the gross inequality vis-à-vis the rights of citizens and the bulk of taxpayers, who do not, in any sense, have such structured, high level and regular access to Government. It flies in the face of any concept of equality and simply provides a gilt-edged opportunity for those seeking massive profits in the financial services industry to seek and to achieve the change of Government policy.

In terms of looking into the future and learning from the past, is the Taoiseach aware that the massive deregulation and liberalisation of the financial sector in the 20 years preceding the crash of 2007 led directly to that crash, with horrific consequences for hundreds of millions of people around the globe - the poor, the oppressed and working people? Is he aware that this deregulation and liberalisation was a direct result of the huge influence achieved by the financial industries on an international basis, with leaders going back to Prime Minister Thatcher and President Reagan onwards to their successors, including President Clinton, who appointed some of the highest bankers in the United States to his own Administration? Can the Taoiseach not learn from that experience to ensure there is not a repetition as a result of this kind of inordinate influence by major profit-seeking entities, which have wrought huge suffering on society already?

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