Liam Twomey (Fine Gael)

I do not know how to follow those comments. I wish George Lee well in the future. His contribution to politics was brief but it illustrated the hard work done by politicians and the lonely existence many of us experience in politics. That should highlight how difficult a life in politics can be. It is no easy ticket for anyone who gets involved. We should have a good discussion about this issue and perhaps we might receive publicity for the hard work we do.

There is a need for the Minister for Finance and the Taoiseach to come to the House. Speaking on the day of publication of the NAMA legislation last September, the Minister for Finance, Deputy Brian Lenihan, said NAMA would strengthen and improve the funding position of the banks in order that they could lend to viable businesses and households. This means it would get credit flowing. The Taoiseach said the Government's objective in restructuring the banks was to provide access to credit for Irish businesses at a critical time. When both individuals were making these statements, they clearly had evidence to the contrary, that it would not get credit flowing or that there were concerns about whether it would get credit flowing. When we had the discussion in this House it was very much implied that the purpose in the taxpayer taking responsibility for €47 billion worth of junk bonds was to get credit flowing to the rest of the economy. There are also concerns that billions will be required to be poured into the banks in the coming months. We must ask ourselves what is the basis of Government policy as serious concerns about the financial policy of the Government have a knock-on effect not just on those of us currently working but also on our children and grandchildren who will have to pay back this €47 billion and who will own two defunct banks. There is a serious need for the Minister for Finance and the Taoiseach to make statements to both this House and the Lower House to clarify what they knew and the reason they withheld this information from us.