Paschal Donohoe (Fine Gael)

I seek a debate on corporate governance. I refer to a report on this issue published by the think-tank TASC last year in which it was reported that 39 individuals held powerful positions in 33 of our 40 top public organisations between 2005 and 2007. These 39 people also held 93 directorships across the relevant companies during the period in question. The report also shows that all 39 held directorships on at least two boards of the top 40 organisations in this country. The figures to which I refer highlight the close relationships that are at the heart of business and political life in Ireland. Of itself, this is not really a problem. However, it has become clear to many people that what I have outlined is giving rise to the type of crony capitalism which lies at the core of the collapse in this country's fortunes.

The crony capitalism to which I refer has been given concrete manifestation by the Taoiseach walking around a golf course with individuals who were at the centre of the affairs relating to a bank which contributed to the collapse in Ireland's finances and then claiming that no one who was present discussed the affairs of said bank. It is obvious to everyone that what occurred has reduced the credibility of the Taoiseach's office and also that of the Government. It is also obvious that the only solution is not a change in the leadership of Fianna Fáil but rather a change of Government.