Clare Daly (Dublin North, United Left) | Oireachtas source

I found the Tánaiste's response wholly inadequate. We have to restate the background to this matter. I refer to the imminent erosion of the living standards of existing pensioners and the threat that the same thing will happen to deferred pensioners and present members of the scheme in the future. The Government has attempted to portray this as a problem of the trustees, the company and the members. There has been a suggestion that it has nothing to do with the Government itself. That is completely wrong. The trustees adopted a "freeze and de-risk " strategy at the behest of the employers. We should remember that one of these employers - the Dublin Aviation Authority - is 100% owned by the State. At key times in the history of Aer Lingus, it was fully owned by the State. It is still 25% owned by the State. We have an ability to curtail the antics of these companies. That is what these amendments seek to do.

Deputy Ryan suggested that the companies have abdicated their responsibilities. He claimed they have acted outside the law. If that is the case, the behaviour of the companies has profound implications. In such circumstances, why has the Deputy not referred the matter to the Garda? If he really believed it was the case that the companies are responsible, he would be supporting these amendments, which seek to ensure solvent companies that have a responsibility live up to that responsibility. These issues should have been examined before the Minister for Transport, Tourism and Sport signed the order.

I noted the Tánaiste's comments about the powers of the Pensions Authority. I fully intend to pass information I have about certain antics in this scheme to the Pensions Authority, which has been in contact with me. Against that background, surely the Minister for Transport, Tourism and Sport would have waited before he signed the order and surely we have a responsibility now to implement these amendments, which would seek to curtail the antics of companies, one of which is meeting as we speak. The vote is probably over now. I refer to the Aer Lingus extraordinary general meeting, which was on at 2 o'clock. I do not doubt that it has sealed its approval for this measure. This is the 11th hour. We need to move on this.

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