Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I wish to thank my officials, who have put considerable work into co-operating with Deputy Michael McGrath on this Bill.

I am keen to emphasise one objective we have not touched on tonight. We have all talked about the different objectives that Deputies have relating to Irish banks. I have another objective that has not been mentioned this evening. I want the Irish taxpayers' money back. I am struck by the degree to which the fact that we have a high share of ownership in the Irish banking system has become normalised. Over time, the Irish taxpayer will need that money back. A considerable amount of money has been invested. We need to look at the different policy objectives that people have and the balance between doing the right thing by our society and ensuring that we have banks that are able to meet the investment and credit needs of SMEs and families. At the back of all of this is the fact that we are still majority shareholders in two of our banks and a minority shareholder in another bank. It is not in the long-term interests of our State, I believe, that we continue to be such a significant owner of each of these three banks. Over time, and at the right point, I believe it is in the interest of citizens that this interest be reduced and that we get our money back.

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