Eugene Regan (Fine Gael)

What emerged when this IMF report was published was that the Taoiseach and the Minister for Finance took a different view on it. The Minister for Finance was quite pleased that all the blame was laid on the Taoiseach for his management of the economy. Now we have the SGPSNEP, which is to follow up on what the IMF recommends in fiscal consolidation. We have a difference of view between the Taoiseach and Minister for Finance with the Taoiseach not wishing to publish this report and get on with implementing the measures identified therein and the Minister for Finance in favour of publishing it, as implied in the statement from Deputy O'Rourke that it should be published. Perhaps the Minister of State will clarify if there is a split between the Taoiseach and Minister for Finance on this issue.

I have another question for the Minister of State which I signalled earlier in the week in regard to the manner in which the Minister for Finance has procured legal advice services in respect of the bank guarantee scheme, the National Assets Management Agency, NAMA, and its operation. It is quite evident that the firm engaged by the Minister and the Department, Arthur Cox, has also been engaged by the National Treasury Management Agency, NTMA, the Bank of Ireland and developers who will be involved in the NAMA operation. As I indicated previously, developers are considering moving to this firm because they believe it has the inside track on how the Minister for Finance is thinking and is intent on implementing NAMA. This type of political patronage and cronyism, which has the sense of insiders and an inside track, this lack of independent advice, untrammeled and uncomplicated by the same people acting for other interested parties and the apparent - in my view self-evident - conflict of interest in this type of arrangement raises concerns about the approach of the Minister for Finance in regard to this particular area. I ask that the Minister of State to clarify whether be believes there is a conflict of interest in the Minister procuring advice from the same law firm that is advising all of the major participants in the NAMA rescue operation.