Michael McCarthy (Labour)

As we face a budget, none of us is in any doubt about how difficult it will be. One thing also not in question is that the categories of people who will suffer most will be students, pensioners and the unemployed. I am not an economist but we all know that by abolishing the Christmas bonus last year, the Minister contributed to a reduction in domestic demand which is killing the lifeblood of rural economies. The money in the Christmas bonus would have been spent in local economies throughout the country, particularly in rural economies. The loss of the bonus was a retrograde step because that money was not being put into a biscuit tin or being saved in a bank but rather it was being spent in local economies.

I ask the Leader why it is taking so long for the Government to ensure that prosecutions will follow those who, in the view of most reasonable people, are responsible for the near collapse of our economy. As the budget draws near and as Senator Ross correctly pointed out, we will see thousands of students demonstrating outside this House today about the proposal that registration fees will increase from €1,500 to €2,500. This might seem like a lot of money to some people around here but €1,000 is a hell of a lot of money for a person depending on welfare or a student trying to become a graduate who will then be working and paying tax at a higher level. This money is reinvested. I speak as a member of the party whose Minister, Niamh Bhreathnach, abolished third level fees. This was a significant decision which allowed thousands of people from less well-off backgrounds to go to college.

In submitting a list of assets and liabilities to the High Court this week, an individual whom I will not name but who is known to everybody and particularly known to the Garda Síochána, forgot to mention that he had a pension pot of €28 million. The same individual has assets of €13 million. In this context the Government is proposing to take more money off old-age pensioners, to take more money off people who are looking for non-existent jobs and who are depending on a welfare rate of €190 a week. When will we see people in jail to pay for the criminality in which they engaged and which has brought the country to its knees?