Paul Bradford (Fine Gael)

I fully agree with the previous speakers, Senator Fitzgerald in particular, on the urgent need for a debate on banking and all that surrounds it. Realistically, we have been posing this question for the past number of months. We all share the same point of view and the country and the body politic is shocked by what has happened and what still seems to continue to happen in our banking system. Both this House and society need to ask slightly more philosophical questions as to why and how the country finds itself in this current political and economic state.

I acknowledge many good things happened and there was good economic growth in the era of the Celtic tiger but the negative impact of the Celtic tiger was the type of thinking which produced such greed, arrogance, bad manners and an entirely different view of society which would have been unacceptable in previous decades. We need a philosophical discussion on morality in public life and politics. Morality is a strong and strange word to use in this context and it can sometimes have old-fashioned connotations but morality in politics is now crucial. Morality in politics, public life and public and banking policy is something which has literally gone the tubes. This is the reason our society is where it is. Fifteen, 20 or 25 years ago, people would not have believed they were entitled to take some of the policy decisions such as the significant increase in salaries, bonuses and pension top-ups which became commonplace during the Celtic tiger era. This is a debate we need to have.

On a less philosophical subject, I thank the Leader for allowing me the opportunity on the Adjournment yesterday to raise the issue of carbon taxation. I ask the Leader to arrange a debate in the next week or two on the aspect of carbon taxation which is causing a lot of concern, the impact it will have on the agriculture sector after 1 May. This sector is under extraordinary stress and financial pressure. The introduction of the carbon tax levy will cause significant problems for the agricultural community. The French Government took the decision some weeks ago not so much to abandon as to park the issue of carbon taxation until there is a European-wide response. We need to reflect-----