Paschal Donohoe (Fine Gael)

I concur with Senator Ross on this point and made a similar point on Second Stage. I propose to respond to the Minister's argument that we are damaging the reputation of politics and proposing to undermine the independence of the Central Bank. I disagree completely because I do not for one moment suggest that politics is bad. I am proud and pleased to be a politician and any inference to the contrary is completely misplaced. I hope I will be able to continue in my current role for a while longer. I have a good appreciation of the worth and value of politics.

We are discussing the one institution whose independence is a matter of national interest. The Central Bank is of such importance that appointments to it must be made in a process that is independent of all forms of political influence. Our role is to provide political leadership, whereas central banks are meant to be independent. The Schedule creates potential for inappropriate political influence. For this reason, I support the view expressed by Senator Ross and ask the Minister, even at this late stage, to reconsider the provisions of the Schedule.