Jim Walsh (Fianna Fail)

If ever we got back to that bad economic situation again, I would certainly not oppose a similar scheme, operating properly and ethically administered, to save people's jobs. In those instances, I remember the bank of last resort at the time, which I believe was the State bank, Fóir Teoranta, when no other commercial bank would give money. When it failed to put funds in because it felt it was far too risky, it was money from the passports scheme which went into places to which huge risk attached. I have difficulty on that front. The same is true of business people coming to live for a period in this State. Three or four American industries in my locality have provided tremendous employment. I would like to think that those people, who may live here part time and in America for the remainder, would not be disqualified simply because they do not meet the residency criterion. If they meet all the other criteria, including being of good character and swearing fidelity to the nation and loyalty to the State, I would like to think ministerial discretion could be applied.

I commend Senator Quinn again for his initiative in this regard. Legislative measures to discount the scheme for the immediate future, which is currently suspended, are welcome, and I hope that we never again see days when it is considered economically necessary. However, against all the criticism, we must balance the benefit. I speak on behalf of a number of people in my locality whose jobs, livelihoods and perhaps continuing residency in Ireland are owed to the scheme.