Paul Coghlan (Fine Gael)

I agree with the views of Senator Brian Hayes and others in regard to the cuts in interest rates. I believed that, as good Europeans, once the ECB had moved, the main banks would have been the first to lead. I am intrigued as to the possible reasons for non-implementation. As the Taoiseach said, there is a moral imperative on the financial institutions to reduce rates. I would like to hear the Leader's views in this regard. I am sure the House would be totally united in the matter. There should no be further delay on the part of the financial institutions because it will impact adversely on our competitiveness.

On the issue of competitiveness, I asked the Leader some weeks ago about a Government proposal to set up a further committee of the Houses to deal with corporate affairs and competitiveness. Has this idea been formally abandoned? Perhaps the Leader will enlighten us further in this regard.

I join Senator O'Toole in his request to the Leader for Committee Stage of the Protection of Employees (Fixed-Term Work) Bill to begin earlier than 6 p.m. if the previous business has concluded.