John Gerard Hanafin (Fianna Fail)

Yesterday, the restraint unions in general have shown was quite properly raised on the Order of Business. It is only right that restraint should be shown. The unions have been asked to undertake a task of bearing the responsibility of ensuring that the economy does not crumble. In fairness, notwithstanding a few exceptions, this has been upheld and it would be worthwhile for this House to have a debate on the role of unions, particularly because it is likely that there will be growth in the economy in 2012, 2011 and perhaps in the last two quarters of 2010. With this in mind, it is incumbent on Members to tell unions that the sacrifices that have been made at this time will be remembered and will not be forgotten and that this has not been the first time the public service has come up to the mark and has done what was right for the economy.

As for the economy, I note there has been another call for a debate on banking. Unfortunately, the Opposition appears to have two sets of proposals, the first proposing there should be credit in the market and the second criticising the fact the Government is taking shares instead of cash. The €240 million that has been left in Bank of Ireland will provide €2.4 billion worth of lending and I would much prefer for the State to take shares and leave the money in the banks in order that the economy can grow.