Alan Kelly (Labour)

I welcome the action taken by the Office of the Director of Corporate Enforcement in the past 24 hours, which is essential from a symbolic perspective. While one must await developments, the people must see action. Although they now are seeing it, they need to see more such action from the Government to indicate how the investigation into the banks will be advanced and to create the conditions under which this cannot happen again. Members may not be aware that the European Commission is considering the area of regulation from a European perspective as a layer above national regulation for banking. Members should welcome this initiative because it would offer some protection that may not be afforded at national level at present. It should be embraced and is something Ireland should play its part in trying to shape as this is a European issue as much as it is an Irish issue. While particular components are Irish in outlook, a wider issue certainly exists and we need to play our part on the European stage.

I fully agree with Senator Twomey. I have raised this issue on the Order of Business a number of times. The current development in respect of hospital consultants in Ireland is wrong. The proposed level of pay for such consultants is wrong. The point has been made on all sides of the House that comparative analysis of salaries on this island reveals a complete disparity. Moreover, I raised the issue in respect of back pay with the Leader last week. While a statement has been made in this regard, its payment only has been postponed. I do not believe it ever should be paid. The issue that people pay consultants €200 to €300 for a consultation must be considered. Such individuals are paid between €220,000 and €260,000 per year and can practise privately in public hospitals and may earn up to equal that amount again. This is ridiculous. In six months' time, will any of the consultants concerned have dropped their charges? My bet is they will not unless forced to so do and this must be addressed immediately.