Michael Finucane (Fine Gael)

I recall that during a heated discussion on this issue during Private Members' time, I was extremely vocal in my criticism of the con job that is being perpetrated by the Government. I was present in the Dáil when the Minister for Finance, Deputy McCreevy, stated that the board would be established as a separate entity so it could be independent in its divesting of funds. He said that such a measure would ensure that the fund would not be misconstrued as a Government slush fund. How credible are the Minister's remarks now? Has the current Administration learned anything from the recent election? Has it taken notice of the wisdom of the electorate, which has been watching the Government's actions closely? The people are critical of decisions such as those taken in respect of Punchestown and electronic voting. If one thinks the electorate is gullible, one is mistaken because it can see through the Government's actions. Almost €250 million has been placed in the dormant accounts fund. I do not believe the Minister envisaged that type of funding when he was researching what would be available and now that it is available, the Government wants to have a hold over it.

In regard to the board of directors, the Minister is expanding the membership from nine to 11. In a previous position I was spokesman on the marine and I remember the then Minister introducing a change in regard to a board with responsibility for the estuary, which became the Shannon Foynes Port Company. Coming from Foynes, I was very enthusiastic about that at the time because I felt it would help the long-term development of the estuary. The then Minister reassured me in the House at the time that the directors he would appoint would be people with tremendous ability in the sphere of business and port activities but of the 11 members of that board, six were Fianna Fáil councillors. To my mind, that was a type of distortion.

The Minister set up an independent board, which was prepared to divest these funds and was accountable to the Committee of Public Accounts, but casting aspersions on a part-time chairperson by saying it was wrong to have him responsible, as a part-time chairperson, to the Committee of Public Accounts is a rather dramatic statement which is not practical. I doubt very much if the €0.25 billion was intended to be divested in one fell swoop. I anticipate it would have been divested over a period but what did the Minister do? He raised the membership from nine to 11 and, in what will be another stroke by the Government, I envisage the people who will be on the disbursement board will be friends of the party. That is the reality of what will happen.

I said earlier that the people have not been fooled. The Minister was greedy. He saw a pot of gold but he should reflect on the national lottery funding which was mentioned earlier in terms of its benefits for youth and sport facilities throughout the country. There have been achievements in that area but I know what happens in regard to organisations which come to me seeking assistance filling in the paperwork to apply for lottery funding. When they go to the Government representatives in the area, and it happens in west Limerick, Clare and elsewhere, a telephone call is made to the appropriate Fianna Fáil politician in the area or, in very rare instances, the Progressive Democrats representative, to tip them off about the funding that will be made available.

Accountability and transparency is referred to in the Bill, which states that details of the funds that are allocated will be published. They will be published in a pseudo attempt at transparency, as is done with details of national lottery funds, but the Minister should ask every politician, particularly Fianna Fáil politicians, about the largesse dispensed in their constituencies, particularly marginal constituencies. He will hear about the tip-offs and the meetings held to tell them that the money was on its way or that they would be getting €0.50 million or €100,000, as the case may be.