Seanad debates

Thursday, 20 November 2008

11:00 am

Photo of Donie CassidyDonie Cassidy (Fianna Fail)

I accept the proposed amendment to the Order of Business, that No. 17 be taken before No. 1, proposed by Senator Mullen and seconded by Senator Bradford.

Senators Fitzgerald, O'Toole, McCarthy, Hanafin, Bradford, Boyle, Callely, Buttimer, Norris, O'Reilly, Ó Murchú and Butler expressed serious concerns regarding issues pertaining to the banks. They again called for a debate on finance. The Finance Bill 2008 will be published today at 3 p.m. In one way or another we share the many strongly held views expressed on the matter this morning. The best way to describe the matter in a lay person's language is that not in living memory have we seen such a downturn in the global economy. We previously witnessed it in Ireland and in other nations, but not globally. The challenge is to try to get the economies of the world to start to turn the corner. It has been frequently said in the House that when the banks stop lending to each other, credit decreases, and credit is the lifeblood of business, commerce and jobs; it is everything.

A package was considered by the G20 group of nations last week in which the Government played an active part. We are a small economy of 5 million people and we notice the downturn more quickly than most, but we will also, because of our size, be the one nation that will turn the corner quicker than most when the upturn comes. However, we must wait and see. As Senator Butler, who has been a long time in business, noted, while a cautious approach may not be palatable for three or four weeks it will serve us well. I look forward to the Government's initiatives.

The Finance Bill 2008 will be published today. Second Stage will be taken in the Dáil next Tuesday and Wednesday, to conclude on Wednesday night. Committee Stage will be taken the following week in the Dáil, with Report and Final Stages to conclude the following week, at 5 p. m. on Thursday, 17 December. That is the timeframe for the Finance Bill 2008 in the Dáil. The Social Welfare Bill 2008 is proceeding at present and it will be before this House also. I say this because I am trying to work out a timeframe. There will be legislation every day from now until the Christmas recess. Therefore, I wish to discuss with the party leaders in the House at the next meeting how we can facilitate before Christmas the very urgent debates called for on education, finance and other serious matters, such as an update on the Health Service Executive. That will be the first item on the agenda for the meeting of party leaders next Tuesday and we will try to find a way to progress the requests made by many colleagues this morning. That applies also to the requests regarding debates on the Equality Authority, the Irish Human Rights Commission and the Combat Poverty Agency. It applies also to the requests for debates on school transport and other issues highlighted this morning.

Seanad Éireann has a 20% representation of women, which is the highest of any western parliament. We look forward to more ladies participating. In my constituency of Longford-Westmeath during the general election of 2002 there were seven candidates, including three men and four very excellent ladies.

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