Seanad debates

Tuesday, 10 June 2003

2:30 pm

Photo of Joe O'TooleJoe O'Toole (Independent)

I also wish to ask the Leader to arrange a debate on interest rates. There is no monopoly of wisdom on one side of the House as opposed to the other in respect of this issue. I would like Members to place their views on record and give a clear message. Will the Leader consider arranging such a debate for tomorrow? I will propose an amendment to tomorrow's Order of Business on that issue. The greed and avarice we have seen are unacceptable. It is also important that the debate should not just be about the interest rate, because competitiveness, which we have discussed on many occasions, is being undermined. We have mentioned many times that inflation is being worsened. It is bad for economic growth and development in many ways.

In the course of the discussions on the national agreement and, in this House, on budgets I have asked many times for the rate of corporation tax not to be reduced. When the Government refused to move in this regard and decided to reduce the rate for other forms of business, I pleaded with it not to do so in relation to banks and financial services. This is the thanks taxpayers are given in response to the gifts they give. I would like a full debate on the matter and ask the Leader to consider it. While I hope to propose an amendment to tomorrow's Order of Business, I would prefer if time could be found in advance.

According to today's Order of Business, there will be a debate on Europe between 3 p.m. and 6 p.m. while the Protection of Employees (Fixed-Term Work) Bill 2003 will be taken between 6 p.m. and 8 p.m. If the first debate does not continue until 6 p.m., would it be possible for the Bill to be taken immediately after the discussion on the Convention on the Future of Europe?

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