Seanad debates

Tuesday, 29 June 2004

Dormant Accounts (Amendment) Bill 2004: Second Stage.

 

8:00 pm

Photo of Noel AhernNoel Ahern (Dublin North West, Fianna Fail)

I am talking about all the speakers, not necessarily Senator Finucane, who spoke over the past two hours. It was interesting to hear the Senators' different perspectives, and I thank them for those, but the Senator zoned in on one interpretation of a particular aspect.

Several Members said all the money belongs to the people and that is correct. Whether it is this fund or general taxation funds, it is the people's money but the Government of the day has the job of putting structures and procedures in place to administer and manage that money. That is important. I realise this board is established only a few years but if problems arise, it is important to address them. That is the Government's responsibility.

There appears to be an obsession about who makes the phone call, who is knocking on doors late at night and so on. To take up Senator Henry's point, under the existing scheme, groups will apply and will be successful, while others will not. That is the position under the current set-up and when that set-up changes, it will remain the position.

When the original legislation was set up, it was not envisaged that the fund would be as big as it is now. It is not €500 million by the way; it is €220 million. I do not believe it will reach €500 million, or anything like that, because——

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