Fidelma Healy Eames (Fine Gael)

The four year plan published yesterday, although necessary, will obviously mean a great deal of pain for all our people. I am not at all clear about what it is to achieve, however. It was decided the €15 billion in the plan was needed before the bailout figure of €85 billion for the banks. Given the bailout figure and there is no mention of the bank debt in the four year plan, is this plan capable of meeting our bailout repayments? I do not believe it is. Neither do I believe we are at all clear about what this plan will achieve exactly. Is it just to achieve our deficit reduction, and do we know exactly how much the banks owe? We started off with €4 billion, but it then went to €34 billion, then €40 billion and now we are at €85 billion. I am concerned that we do not have a handle on it and some market analysts are saying it could be in the region of €250 billion. We need absolute clarity from the Governor of the Central Bank and the Minister for Finance on how much the banks owe. If we do not know what we owe, how can we know what we have to repay?

Looking at the four year plan, we all agree that education is the driver of growth, yet we see that students and their families will really be paying the price. There is a €500 hike in the registration fee for third level students, while no one is talking about the €200 hike for PLC students. In many cases these are disadvantaged students, educationally and socially. Like others, I ask the Leader to advance the Student Support Bill through this House before the recess. It is before the select committee today. If we are really serious about the future of the country, which is in the hands of our students, whom we expect to pay for our pensions in the future, then let us serve them well.