Dáil debates

Tuesday, 17 May 2016

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members]

 

8:00 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael) | Oireachtas source

Yes, but I will make a further point before I conclude. This is a minority Government. As everybody knows, the Opposition collectively has more votes than the Government. That creates difficulties for the Government and puts an onus on the Opposition as well. Previously, when the Government was protected by the whipping system, the Opposition could have a go. Now there is a risk involved if the Opposition has a go. The day Deputy Michael McGrath republished his Bill, Irish bank shares went down by 10% across the line. The publication of the Bill dropped the total value of Irish taxpayers' holdings in the bank by 10%.

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