Mary O'Rourke (Fianna Fail)

Senator Brian Hayes raised the matter of the ECB and the refusal to date of the three major banks to reduce their loan rates. It was interesting that a spokesperson for one of them said it was not "in the capacity" of the bank to reduce its rates. I cannot understand this. Such language seems most odd. Withholding such reductions is piracy. One is reminded of the remark made by the disgraced New York businesswoman, Leona Helmsley, "Only the little people pay taxes." On a previous occasion I contacted the Irish Bankers Federation and will do so again. I agree with Senator Brian Hayes and others who made the point about loan rates. I also agree with the Taoiseach who said the banks had a moral obligation to reduce them, which remark was correctly echoed in the House.

Senator Brian Hayes also spoke about the Oireachtas team which is to take on a PSNI team in a football match, and a planned protest. I did not hear about the protest of which the Senator spoke but imagine the Oireachtas team will be well able to deal with it.

Senator O'Toole urged that banks should not be exempt from corporation tax rate reductions. Clearly, this is the slap in the face we get as a result. The Senator requested that the debate on the matter take place tomorrow. I will consider the timetable to see if it can be accommodated. Senator O'Toole also asked that if statements on the Convention of Europe reached an early conclusion, the Protection of Employees (Fixed Work Bill) be taken immediately. However, I understand that the Minister will not be available until 6 p.m. I hope that the statements will not conclude early.