Tony Killeen (Clare, Fianna Fail)

Ba mhaith liom buíochas a ghabháil leis na Seanadóirí. I thank Senators for their supportive comments on the legislation and reiterate the points raised about the Irish Ferries dispute and other similar scenarios. The Bill will achieve what we have set out and give an enhanced measure of protection to workers who are compulsorily made redundant in circumstances where they are replaced by workers on lower pay or worse terms and conditions of employment. When enacted, the legislation will provide for the establishment of a redundancy panel for the reference to it of certain proposed collective redundancies and related action by the Minister for Enterprise, Trade and Employment in line with what was agreed during the talks on Towards 2016.

Senator Coghlan pointed out that redundancy payments were made to Irish Ferries staff on the basis of existing legislation. He is concerned about the devaluation of jobs, emigration and job displacement. He also referred to integration issues which will be hugely important in the long term. He made specific reference to the workers at the Castlemahon plant in County Limerick at the request of his colleague, Senator Finucane. The Minister is one of those who hope to receive a payment as part of a preferential claim following the winding up of the company. He has no discretion regarding the 40% due to the social insurance fund and, therefore, has no legal power to divert any of the money to the employees concerned if funds are recovered.

Senator Leyden asked how much was in the social insurance fund. I have some figures which indicate that approximately €165 million was paid out of the fund last year. It is a very large fund of several billion euro. I will get the Senator the exact amount as I am not quite sure how much it is at this stage.