Liam Twomey (Fine Gael)

I ask again for a proper debate in this House on the banking crisis. The banking inquiries that are currently being carried out on behalf of the Government are taking place behind closed doors. The Government's terms of reference prohibit any investigation of the fateful night in September 2008 when the Taoiseach saddled future generations with massive debt. Last Friday, the Minister for Finance published his budget outlook for the next couple of years. He made no allowance for the recapitalisation of the Irish banks. We know that billions of euro will be spent on recapitalising the banks. When the Minister published his outlook for the next couple of years last Friday, one can imagine the howls of derision if he had neglected to include a figure for the Department of Education and Science. In this case, he has made no allowance for the fact that the taxpayers of this State will have to come up with billions of euro to recapitalise the banks. Therefore, I ask the Leader to arrange a proper rolling debate on the banking crisis so Senators and those we represent can be properly informed about what is going on. Too much is happening behind closed doors. Taxpayers are getting the rawest deal going for future generations.

I also ask for a debate on the pensions plan that was published by the Government yesterday. There is a need for a serious debate on this issue. I have been paying into a private pension plan for the last 15 years. That fund is now worth two thirds of the amount of money I have paid into it. There has been no growth or interest. The Government is saying it wants the same fund managers to manage the future pensions of low-paid workers in the same way. That is nonsensical.