Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I thank the Deputies for their constructive contributions. To answer Deputy Pearse Doherty, when I originally spoke on the legislation several weeks ago, I referred to its importance and the need to move on it quickly. He pointed out that if something is important, we should take our time with it. He is absolutely right in this regard. To clarify, this is important and, therefore, I hope it can be a priority for us to get it through the House now and that we will take the appropriate time on Committee Stage to go through the details. For my part, I had hoped we would have taken this sooner but scheduling issues got in the way.

With regard to the comments I made on the banks, we rightly draw from a shared experience of the banking inquiry. We do not want to draw improper parallels, but the fund will be backed by bank levies. It will not be backed by the sovereign or the taxpayers. Any drawdown on the loan in the interim, if it were to happen, would be paid back by bank levies and not by the taxpayer.

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