Joe Costello (Dublin Central, Labour) | Oireachtas source

I welcome the Tánaiste's speedy and comprehensive response in meeting the needs of the workers and thank her for providing them with information to enable them to deal expeditiously with their entitlements. I also welcome her commitment to investigate the reason minimum notice was not provided in accordance with the employment Acts. I would like to see that issue fully investigated, with the appropriate sanctions applied.

In the broader context of the collapse of the economy in recent times and given the resultant huge number of impaired assets, many of which have been sold by NAMA to vulture capitalists, there is a danger that a number of these vulture capitalists who are anxious to make a quick buck will re-enter the Irish market, discarding workers and imposing redundancy and welfare payments on the State, rather than meet the costs themselves. For this reason, it is extremely important that we revisit the relevant legislation as rapidly as possible to ensure what has happened in this instance will not happen again. We must also ensure the recovery taking place in the economy is based on respect for the workforce and a sense of fairness. We do not want to witness this type of vulture capitalist approach which is ruthless and profit driven, with no concern for the workforce which makes all businesses in the country profitable. We need to act swiftly in terms of ensuring something of this nature will not recur. We also need to ensure domestic companies and employers will stand apart and make it clear that they will have nothing to do with this practice.

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