Paudie Coffey (Fine Gael)

I second the amendment. Essentially it is a genuine attempt by Fine Gael to introduce an element of oversight in regard to what is quite a substantial figure of €400 million of temporary borrowing power to Coillte. We do not doubt the competency of Coillte. The Minister of State has outlined its competence in many areas. However, I have outlined one area where it may not have been competent. That is why it is important to have the appropriate checks and balances in the various powers we give to semi-State agencies. There is a need for the Dáil and the Minister to have a good oversight role. That was the reason for tabling the amendment.

The Minister of State explained briefly the reason the borrowing threshold has been increased. As the economy and companies develop there is a need to increase the threshold and we agree with it in principle. However, the amendment seeks to introduce an oversight role. I will be interested to hear further explanations on the reason the extra borrowing power was introduced.