Mick Wallace (Wexford, Independent) | Oireachtas source

Having had a bit of experience in this area, I understand the principle behind Deputy Tóibín's amendment. I do not know either where the right place to address this issue is, but it would be hard to argue that workers' rights had not been undermined to a great degree over the past 30 years. As an employer running into difficulty, the bank may pull the plug on one. It happened to a lot of companies which dramatically ceased to trade. Sometimes, workers lost out. It is not black and white but is a complex area. I do not know of examples where this has been put in place, but the erosion of workers' rights is not confined to Ireland. Workers' rights have been eroded across the developed world.

There should be a mechanism in place whereby workers are taken care of before the financial institutions. If one was a financial institution, one might say that one would not lend money out if that were the case. However, legislation might provide that to some degree - and I am not talking about an unlimited scenario - workers' rights should be addressed before those of financial institutions. If a financial institution is lending money to a construction company which is involved in development over 15 years, it will make a larger profit on its investment over the period than the worker who provides his service to the employer. More often than not, the worker does not have the same potential to accumulate a serious profit on a weekly basis. Obviously, with some work he can put away some money, but his opportunities are not as great as those of the financial institutions.

If the financial institutions were to take a small bit more of a hit to ensure that the worker was taken care of first, it would not be such a mad scenario. Perhaps it would be regarded as revolutionary, but it would be a very positive step. I do not know either if this is the right Bill in which to include such a provision. The Minister argues that it is not. However, will the Minister consider in principle the idea of putting in place a protection for workers where a company is forced to cease trading dramatically and without being in a position to prepare itself so as to take care of its workers before the banks move in?

It would be very positive if the Government could consider this area. What does the Minister think about it?

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