Seanad debates

Wednesday, 11 November 2009

National Asset Management Agency Bill 2009: Committee Stage (Resumed)

 

12:00 pm

Photo of Eugene ReganEugene Regan (Fine Gael)

We dress up the defence of the Government but I must take issue with the criticism Senator Harris made of the business plan. In the debate last night a Minister said that the Minister, Deputy Lenihan, never said that NAMA would definitely make a profit yet we have a business plan which suggests a net profit of €5.48 billion over the ten years. Senator Harris is saying it is not relevant whether it is or is not a profit. Are we serious about the business we do in this House? This plan was sold to the country as the financial underpinning of the NAMA legislation. We are not dealing with figures in this Bill but this is the background document on which we must rely. Senator Harris is suggesting we do not refer to that document-----

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