Liam Twomey (Fine Gael)

My point is that in three years' time, when it is hoped matters in the financial sector will have improved, international investors will again become interested in our banking sector. It will then be pointed out to them that a surcharge may have to be paid in the future. NAMA may be showing good potential at that stage but if it is not, then we are only making more trouble for ourselves. What we are discussing revolves around achieving a balance between the taxpayer and the financial sector. There are those of us who believe taxpayers are receiving a raw deal in respect of the €54 billion they are investing, that the problems we are setting out to resolve may not go away and that the banks will be the ultimate beneficiaries.

We appear to be at cross-purposes with regard to what we are trying to achieve. We have already taken a hit and I am of the view that we should probably reconsider this matter in the context of how the financial sector might be affected in years to come. Since the Minister disagreed with me with regard to imposing the levy from the outset, perhaps we should leave out the entire sector until we see how NAMA's work is progressing.