Paudie Coffey (Fine Gael)

I support the calls from many Senators for an inquiry into the mismanagement of the banking sector over recent years. The inquiry should include a review of the role of the Financial Regulator in this debacle. The negligence of the Financial Regulator in allowing the banks to run amok has had huge implications. We are familiar with the effects of unregulated lending on all sectors of the economy. I referred during yesterday's debate on the Social Welfare and Pensions (No. 2) Bill to a high-profile case in Waterford. A family with a disabled child was evicted from its home over the course of a few months by a company called Stepstone Mortgages. I understand that the company, which has gone out of business, is owned by the famous Lehman Brothers, which went bankrupt in 2008. It is clear that unregulated lending is having an impact on ordinary families. If some action is not taken in this regard, there will be many more casualties.

I ask the Leader to make provision for a debate on care for the elderly. The recent budget has implications for our elderly and how they will be cared for. While many of us agree there should be a carbon tax, this will have a huge impact on the elderly in rural areas who are dependent on solid fuels. The carbon tax will have implications with regard to how they can sustain themselves and heat their homes. The cut to the carer's allowance will have implications for the services provided for the elderly and will also have an impact on State services because, where care is not provided in the home, there will be further demand on State services to provide that care.

On the provision of geriatric services in the long term, we heard of the high profile case concerning Deputy Jackie Healy-Rae and Kenmare. In Waterford, we have been waiting over ten years for a new 50-bed unit for St. Patrick's Hospital, which covers the entire south east. The population is ageing, there will be bigger demands from the elderly and we will need more care and spaces for them. It is Christmas time and I ask that we think of our elderly. I call on all Members to do all they can over the Christmas period to support our elderly. In the new year, if it cannot be accommodated before Christmas, we should have a solid debate on care and long-term services for the elderly.