Marc MacSharry (Fianna Fail)

I join other Senators in expressing concern about the rumours circulating about the old age pension. Any cut to it could not be tolerated by anybody with an interest in social justice. As someone in the paid employ of the State, I would be happy to pay more by way of taxation or otherwise to ensure the relative security of the elderly and children. I hope the Minister will clarify the position as a matter of urgency.

I welcome cautiously yesterday's announcement by Bank of Ireland that it was to place on the market its art collection which I believe is valuable and donate the proceeds to charity. I call on the other financial institutions which have received substantial support from the State, including Allied Irish Banks which has a very valuable art collection, not to place their collections on the market for private benefactors to buy but to donate them to the State. They should be given to the substantial number of galleries throughout the country and put on display to enhance tourism for the benefit of the people. There is no gallery more deserving than the reopened Model Arts and Niland Gallery in Sligo which houses the wonderful and world renowned Niland collection of Jack Yeats's paintings. Some €7 million in funding, much of it from the State, was allocated for the redevelopment of this wonderful piece of infrastructure. I hope the banks will do the appropriate thing on this occasion.

I admire Bank of Ireland for the leadership it has shown in the context of using the valuable assets to which I refer for the benefit of the public. I am of the opinion, however, that banks should donate the artworks they own to the State. As already stated, there is a network of art galleries in which these works of art might be displayed for the benefit of the public. This would assist in enhancing our most valuable asset, namely, our culture and heritage tourism.