David Norris (Independent)

I welcome the Minister of State, Deputy Kelleher, to the House, with which he is very familiar. I do not propose to score partisan political points, but that does not mean I will not have some criticisms to make. If the Minister of State's speech was his last in the House, he should note it was a fine one, although I did not agree with some of it. It was very clear that he spoke from the heart, particularly when he invoked the future of his family. Few of us in the House could remain unmoved by the genuine sentiments he expressed. However, I support the motion. I had not anticipated speaking at this point, but I am happy to do so.

The first point of the motion states Seanad Éireann "notes that the Government's four year plan published on 24 November 2010 contains nothing by way of concrete measures to restore employment". It does not contain very much and I am not saying this in a partisan way. The plan certainly does not appear to contain enough. I do not make this charge for the purpose of gaining political advantage in that this comment has been made by a number of financial experts. For that reason, it is worrying. It is a central point in the remarks made by Dr. Krugman who certainly does not share the Minister's view on bondholders. He holds what appears to be a majority view which is shared by the directors of some of the largest bond-holding companies. All economists admit that what has happened here is unjust, immoral and indefensible on ethical grounds. I asked on the Order of Business whether it was possible to sustain an appropriate financial system, or a just and decent civil society, on grounds that were universally acknowledged as being immoral, unjust, unethical and, according to Dr. Krugman, a mistake. I agree with that point.

It is true the Government is feeling overwhelmed. Who would not? I certainly would feel under considerable pressure. I have a degree of sympathy with the Government members as human beings. All of us have seen repeated on a number of occasions in the past few days the extraordinary scanning shot of the Government Front Bench in the Dáil. Body language is very instructive. There is no doubt the Members shown were beaten people. One only had to look at the expressions on their faces to realise they were really concerned.

My Labour Party colleagues have called on the Government to establish a strategic investment bank to fund viable businesses. This is absolutely desirable and who could possibly disagree? However, from where will they get the money? I do not know. We have actually frittered away our resources. Therefore, this good idea is not sustainable. Like the Minister of State who was engaging in his frankness, I am not an economist.

I welcome some of the points made by the Minister of State. I did not have time to read his speec, but I was listening to it in my office. I am glad the issue of upward-only rent reviews has been addressed and is continually under review. I refer, in particular, to the working group on commercial rents. This is a vital issue. However, why is it taking so long to address it? I have been talking about it for years in this House. I highlighted what I had seen in our most fashionable streets. I walk up O'Connell Street and Grafton Street and through the Hibernian Way and could see what was happening. It was blindingly bloody obvious. It was insanity to have upward-only rent reviews. It was also insanity to increase our VAT rates when the British did not. We share a land border with a part of the disunited kingdom which was lowering its rate when we were increasing ours. There was a certain amount of daftness in that regard. Let me welcome the provision to address this issue.

I welcome the scrutiny of legal costs, in respect of which there is a scandal. The most glaring example concerns the tribunals. Some members are commanding salaries of €2,500 per day, day after day. Let us have itemised accounts from lawyers. The Minister of State should get his colleagues to consider this. One simply never receives itemised accounts. One receives a bundled-up bill referring to stationery, postage, research, secretarial work and so forth. It is a load of nonsense and only one bald figure is listed. Since we are down to our last brass farthing, let the unfortunate people who have to pay legal bills know how much is spent on stamps, correspondence and secretarial time. I am not making any charges against individual legal practitioners because the practice to which I refer is followed throughout the profession. One never receives an itemised bill. I have never received one, although I am a very litigious man. I have never in my entire life received an itemised bill from any legal source. Let us address this issue.

The interest rate of 5.8% does not represent generosity. We have been good citizens of the European Union throughout our membership. We have taken very hard medicine and are being rewarded with punitive rates. The interest rate is an average figure; the actual figure for part of the loan will be considerably higher. No good deed goes unpunished. Let the people in Europe read this and realise there is at least one person here who recognises the lack of collegiality.

I was listening to a German Green Party member doing his damnedest to say Ireland should immediately scrap its corporation tax rate of 12.5%. How neighbourly is that? The journalist Polly Toynbee is not a Member of Parliament, but the language employed by her in her article in The Guardian, a very good newspaper, was a disgrace.