Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein) | Oireachtas source

In recent weeks, we have seen an unprecedented silencing of Dáil Éireann. Thankfully, reporting of statements made in this Chamber has resumed. This basic element of democracy, of course, must be protected.

We need to look at what brought us this far. In 2012, Mr. Denis O'Brien's Millington bought Siteserv for €45.4 million. The deal saw State-owned IBRC write off €110 million of Siteserv's €150 million debt. We now know that a Siteserv subsidiary was awarded a contract for the installation of water meters for Irish Water.

In April, Independent Deputy Catherine Murphy retrieved documents under freedom of information legislation that revealed official concern over the deal. The former chairman of IBRC, Mr. Alan Dukes, denied anything inappropriate had taken place. The Government then announced a review of IBRC deals, including that involving Siteserv. We also read reports of a spike in Siteserv shares in the period prior to its sale. Deputy Catherine Murphy suggested under Dáil privilege that insider trading may have played a role in the rise of Siteserv share prices.

Last month, Mr. O'Brien and IBRC won court injunctions against RTE preventing the broadcast of a report on Mr. O'Brien's banking affairs. We then heard, though many citizens were denied the chance to hear, suggestions by Deputy Catherine Murphy that Mr. O'Brien had been preferentially treated. Mr. O'Brien has claimed that this is false and that making these statements in this Chamber was an abuse of Dáil privilege.

While the Government agreed to an inquiry, in its first drafting it was totally inadequate. The inquiry is now to focus on the sale of Siteserv by IBRC to a company controlled by Mr. O'Brien, which involved a write-down of €119 million as well as other substantial write-downs. The Minister, Deputy Noonan, met Opposition representatives last night and has agreed to some changes but has remained opposed to others. I understand he is unwilling to accommodate some of the key changes sought - for example, bringing the deadline date forward to October, with December his preference, and allowing the investigation of sums of less than €10 million. I understand the Minister is not willing to reduce the write-down threshold from €10 million to €1 million as my party has sought. I ask him to explain his reasoning for this in full. The inquiry is also to look at the suggestion by Deputy Catherine Murphy, revealed under Dáil privilege, that Mr. O'Brien benefited from preferential interest rates.

The question of balance between public interest and private banking business has been discussed at length throughout the State. In this case, where an individual of massive personal wealth has significant control of a myriad of media outlets, the balance must be in favour of the public interest. When such an individual has an interest in several companies that are involved in working for the State on politically contentious projects, this must be particularly so.

This inquiry must also have an interim report, especially when the Government may dissolve the Dáil without findings of the investigation being made public. I am most disappointed that the current Government has decided that the inquiry's scope will not go beyond the liquidation of the bank in 2013 and, therefore, not cover more recent deals involving the bank's liquidators.

Why did the Government refuse to recall the Dáil to discuss this last week? That is a reasonable question. It has told us at every turn that it represents a different kind of politics to previous Governments, but at every turn it fails to show an appetite to break with the old grubby connections between big business and politics. This affair has also shown a lack of leadership from the Taoiseach. We had a self-enforced silence from An Taoiseach and then a spectacular U-turn that a judge-led investigation was needed.

I am also concerned at the fact that the Dáil has been undermined, in my view, after incomplete parliamentary answers were given about IBRC and the apparent admission by the Minister of State, Deputy Harris, that freedom of information requests must also be submitted to ensure full disclosure. Will the Minister, Deputy Noonan, clarify if this is now Government policy? It is clearly his policy, as revealed by his answers to questioning by Mr. Bryan Dobson on RTE news last week, a matter that is of great concern not only to Members here but also to members of the public.

As my leader, Deputy Adams, mentioned in this Chamber earlier, the commission of investigation would not have been necessary if the Government had answered questions about IBRC over the past three years. The Minister and the Government must now address our very reasonable concerns in the setting up of this inquiry. If faith in the inquiry into such serious matters is lost, the silencing of Dáil Éireann might fall into the ha'penny place by comparison.

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