Jim Higgins (Fine Gael)

I will be brief because in the time left at our disposal it is obvious that we will be hard pressed to reach some of the other essential parts of the Bill.

I agree with Senator Maurice Hayes that people have a certain right to discuss their business in confidence, but for how long should the veil of secrecy prevail? We have to get the balance right. Senator Mansergh said that the Labour Party's amendment concedes the principle that five years is too short. It recognises the fact that the Government has a difficulty, but it does provide a breathing space of one year. It is a sensible amendment which provides the Government with an escape hatch. Certain members of the Government – perhaps the Government as a whole – might think ten years is too long a period within which to keep records totally under wraps. We should support the amendment.