Terry Leyden (Fianna Fail)

I welcome the fact that the European Central Bank, ECB, will reduce its interest rate by approximately 0.5% later today. This will make a big difference for borrowers and mortgage holders. In 1982, another dark period in our history, inflation and interest rates stood at approximately 18%. The ECB's move will sound a positive note on the day on which we will recapitalise the two major banks.

The Government should put in place a €10 billion investment or national reconstruction fund. This could possibly be done through Anglo Irish Bank, which would restore some of that institution's credibility. There are people who have money in respect of which they are not receiving a great return as a result of the reduction in interest rates and who would be prepared to invest in such a fund. Serious consideration should be given to my proposal in this regard.

I am disappointed that departmental officials do not follow up on suggestions put forward by Members of the House. They do not even contact Members by telephone to seek additional detail in respect of what might be considered logical ideas. No one has contacted me regarding my proposal that a national reconstruction fund be established since I first put it forward some time ago. I make an appeal to those officials who are following the proceedings of this House, on the Internet or by whatever other means, to contact Members who put forward suggestions to obtain additional information in respect of such suggestions. Departmental officials have the expertise to assist Members in further developing proposals they might put forward.

Will the Leader request that the Tánaiste and Minister for Enterprise, Trade and Employment come to the House to discuss the National Consumer Agency and the work it does in respect of consumer rights? The costs relating to this agency are quite high. Yesterday I was obliged to inflate two of the tyres on my car.