Brendan Howlin (Wexford, Labour) | Oireachtas source

Seventy-five per cent of Permanent TSB is owned by the people of Ireland. It is a bank and, God knows, the people of Ireland have contributed significantly towards it, but it still has many issues to overcome. However, instead of doing the hard work itself, it now appears to be outsourcing that difficult job to get that off its balance sheet. The Taoiseach is right. It has not identified a buyer yet and perhaps it will not be a vulture fund, but it might be and there is no point in this House saying calm words if we do not give real reassurance to the people who fear that might be the outcome.

Last Tuesday, the Cabinet waved through the news from the Minister for Finance that this was planned by the PTSB. It is interesting that there was no reported opposition from Government colleagues in the Independent Alliance. Before he became a Minister of State, Deputy Kevin Boxer Moran was loudly promoting his Keeping People in their Homes Bill. Where is that now? There was not a bank AGM that was safe from a visit from the Minister, Deputy Shane Ross.

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