Michael McDowell (Dublin South East, Progressive Democrats)

Amendments Nos. 47 and 48 represent retrograde steps. Amendment No. 47 would have reversed a change brought about by the Courts and Court Officers Act 2002. We would revert to the pre-2002 position in which interest on costs awarded to a party in court proceedings would run from the date of the judgment at 8%. That would mean that the losing party in an action would be obliged to pay this interest from the date of the judgment even though the amount of the costs had not yet been quantified or communicated to him or her. The MIAB strongly recommended that should not happen.

Amendment No. 48 seeks to confine the change in interest from 2% to 0% to actions brought after the commencement of this section. I do not agree with this move. I want the change to apply to pending actions also and, therefore, I cannot accept the amendment.