Frances Fitzgerald (Fine Gael)

Although a great deal of media attention is undoubtedly currently focused on the resignation of Mr. George Lee from politics, I agree with our party leader in his comment that the real challenges facing us involve helping those people who are struggling to pay mortgages, getting credit flowing to the businesses in need of it and dealing with ever-growing unemployment. When the Government presented NAMA to the people, it was meant to get credit flowing in the economy and the country. It was meant to get credit flowing to the hard-pressed householders and businesses struggling to keep people employed. We have now heard that all the time members of the Government said this, it was receiving advice at the same time from the IMF that establishing NAMA would not lead to a significant increase in lending by the banks, and this raises major questions about the Government. Were we being misled by the Minister for Finance in this House when he presented the NAMA legislation for debate? We were assured the agency would get credit flowing. The Irish Times has stated that in April last year, the Government was warned by the IMF that this would not happen. An article in that newspaper today indicates that the Government played fast and loose with the facts about NAMA and was desperate to sell the policy at any cost. We were told that NAMA was the only show in town and it was not a bailout for bankers. It was meant to be about getting credit flowing.

If the Government was warned that this was not the case and made statements to the opposite effect, it is time we had the Minister for Finance before the House again. We should have a response from the Leader to explain the discrepancy and the Government's current plan if we will not see credit flowing as a result of NAMA. What is the economic and job creation plan? We need the Minister in the House today to talk about job creation, employment and how to address the real issues raised by the comments from the IMF last April. I move an amendment to the Order of Business to discuss these issues.