Joe O'Toole (Independent)

I agree with Senator Fitzgerald that it is a great day to be rich in Ireland. I just do not know how people can square the circle because seriously rich people have not been asked to put their hands in their pockets. They have made no contributions from their wallets, yet those earning €25,000 in the public sector are being asked to make a contribution. Members of the Seanad are reasonably paid, and I do not think any of us can complain about what we are being asked to pay. I cannot complain and I do not have a problem with that. I cannot reconcile, however, how people earning less than €30,000 a year should be made to make a contribution with no attempt whatever to talk about those earning over €200,000 in the private sector. One can see what is happening. The reason this is being done has nothing got do with the budget, it is about strategy. Once one hits those earning under €30,000 one can say "We have buried that crowd, now let's look at the minimum wage in the private sector; after all, we could not allow the minimum wage to be that high while we are cutting public sector pay". That will be the next thing the Government will hit. It is as clear as day, but it is grossly unfair. We deserve to be hit and we must pay the price of the sins committed by others. I have to live with that, but I cannot reconcile or explain why people at the bottom of the pile had to be pulled into this, as well. They are struggling hard enough as things are. I will say more about that this evening.

We heard on the news this morning that the Emerald Star cruiser company is to reduce its operations in Ireland. I am not sure if I have raised this matter on the Order of Business before, but I have certainly written to the Minister on a number of occasions over the last six months. I have also raised it with Emerald Star as well as with the union representing workers in that company. For the past six months I have been trying to find out what is the impact of the transfer of assets from Ireland to the UK or France for creditors and the pension fund. I do not know if there is such a fund. I do know, however, that Emerald Star was established by Government grant, which is taxpayers' money. The Cathaoirleach will share my view on this because he lives beside the River Shannon and knows what a significant part of the tourism industry Emerald Star is. An investment was made in Emerald Star to create employment in the Shannon basin area and help tourism there. This is a backward step, however. I want to know if all creditors are secure and if the pension fund is secure, if there is one. Is it legal to transfer assets abroad from a company that was set up by a State grant? Is it acceptable to the Government? We need answers to these questions before we get into the emotional issues of the impact of today's news on local communities.