Seanad debates

Thursday, 13 November 2008

11:00 am

Photo of Feargal QuinnFeargal Quinn (Independent)

About three or four weeks ago, in response to a demand for a debate on the economy, finance and banking, the Leader promised that such a debate would take place on a regular basis, at least once a month. I am not sure how long ago that was but it seems to be four or five weeks ago. Today is a typical example of an occasion when we should have such a debate, given all the news that is emerging. Instead, we are debating radon protection measures. While this is important, it is not as important as finance, the economy and banking. We have heard many on both sides of the House speak about that today. I do not understand why something as important as this debate on finance and the economy is being delayed. Those who have spoken today about the use of this House perhaps being diminished because of the Government's attitude towards it must merit some support for their position.

The crisis is not just in Ireland. I was telling Senator Ross that I read this morning that the British Minister in charge of finance said that had they known the situation was going to be as it is, they would not have bid for the Olympic Games in 2012. The situation has changed so dramatically there, I do not know whether they will back out.

There is a problem for small businesses in particular. With the credit squeeze, there is very definitely a cash flow problem and there are various solutions. It is interesting that Senator Mary White said one the solutions should be to call on the banks to release more cash. Another solution being advanced is that smaller businesses should be allowed to extend the length of time they have to pay, from 30 to 60 days. That will cause problems to their creditors, so it is not as easy as that. However, I mention this because it seems to me that today is a typical day when we might have used our time to concentrate on that motion. I support the amendment tabled by Fine Gael that we should have that other debate as well, because today provides a good opportunity for that.

We referred earlier to gangland crime and a culprit driving into a Limerick Garda station in his bullet-proof vehicle to hand himself up. That was interesting. What stunned me is that there are 32 offences against him and he was still out in the open. Whatever legislation we have that controls and constrains the gardaĆ­ from being able to apprehend someone like that and put him in jail rather than have him come in voluntarily is another debate we should have today. We should be debating not just the economy but also gangland crime.

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