Séamus Healy (Tipperary South, Workers and Unemployed Action Group) | Oireachtas source

I welcome the opportunity to speak and to support this motion on the sale of Siteserv by IBRC. The sale of Siteserv to a Denis O’Brien-linked company for a knock-down price of €45 million, with a payment of €5 million to shareholders, is a case study in how this Government has lined the pockets of the rich and powerful elite while making low and middle income families pay for a recession they had no hand, act or part in creating. This is but one example of the pay-off for the insider golden circle, the banks, well-connected business people, finance houses, valuers, law firms, auctioneers, accountants and consultants of all kinds. The same names and firms arise in respect of the collapse of the economy and in this case. These are the people and firms who collapsed the economy and are being rewarded by the Government. They have increased their incomes and their assets during the course of this recession, which has been confirmed by the Central Statistics Office, CSO.

The appointment of KPMG, a company with a clear conflict of interest, to review the Siteserv deal is a further slap in the face for low and middle income families who have been crucified by austerity. Such a review can only be described as a sham and an insult. We should compare what has happened to all these individuals and companies with what has happened to low and middle income families if only in one area, housing. A total of 25,000 families face eviction; there are unprecedented levels of homelessness; 90,000 families are on local authority housing lists; 300,000 mortgage holders are being ripped off by the banks charging twice the European Central Bank, ECB, standard variable rate of interest, effectively paying a second bailout to the banks. This is an absolutely shameful incident. We need an investigation and a commission of inquiry, not just for this Siteserv deal but for the IBRC in general, for NAMA and for AIB and Permanent TSB. I support the motion.

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