Feargal Quinn (Independent)

In the United States few people would run for the position of governor or Senator unless they had been successful in some other venture, probably in business. Worrying about where to get money to pay employees' wages at the end of the week is an important element of decision making. I am concerned about the lack of balance in this regard, both in the Opposition and Cabinet. Few members of the Opposition or Cabinet have ever had to worry about where they will get the money to pay wages at the end of the week. Decision making would be much helped by having people with this type of experience. As I stated, in the United States one usually requires experience or success before being appointed.

Given the importance of previous success, I am concerned when it proves impossible to attract someone to a job paying a set salary. We do not want the top jobs being taken by somebody or other; we want the best person. In the case of Allied Irish Banks, the nominee for the position has achieved success, as the figures published today show. I am concerned that this issue may be used as a political football. We want the banks to succeed to ensure they advance money to small and medium size enterprises. As taxpayers, we are owners of and investors in the banks and we want them to be profitable. We do not want to support banks by requiring them to act in a manner which causes them to fail to make a profit. I am worried that if we start to run banks in that manner, we will not act in the best interests of taxpayers.

We cannot tax ourselves out of recession. The Government is proposing to find €4 billion through cuts to help return the country to its former position and tougher decisions will be required next year. Let us not put these decisions on the long finger, procrastinate or delay. Let us take tough decisions now and solve this problem much more quickly than would otherwise be the case.