John Crown (Independent)

I echo the good wishes to the leaving certificate students; I have one and I wish her and all the others the best of luck today. It is a sad day today as 47 doctors and nurses remain under detention in Bahrain. Many of these were trained in Ireland, delivered our babies, healed our sick and patched up our wounds. They have been placed under detention for committing no crime greater than treating wounded protestors in their country. Will the Leader bring to the attention of the Tánaiste and Minister for Foreign Affairs and Trade these matters and urge the Tánaiste to use whatever influence he can on the Bahraini Government to see that justice is done by these innocent doctors and nurses, who are doing nothing other than upholding their sacred duty to sick patients? Will the Leader ask the Minister to bring pressure on those organisations in Ireland doing extensive business, including health care business, with the Bahraini authorities to understand the level of discomfort we feel about the issue?

It is the stated intention of the Taoiseach to abolish our Seanad so I am not certain how much attention he will pay to recommendations on other matters coming from the House. I ask the Leader to bring to the attention of the Government, the Minister for Finance in particular, an alternative strategy for dealing with our need to raise money through funds locked into pensions. It is currently the intention of the Government to raid the privately held pensions of individuals who prudently and carefully saved over the years in response to Government advice. This will raise a derisory amount of money and there is a more fair and efficient way of utilising the money locked in pension funds for the benefit of our State, its citizens and the public services.

Will the Leader ask the Minister to consider amending current pension law in order that people currently harbouring a substantial burden of mortgage debt, including many in negative equity and who may lose their homes, would be allowed early access to the moneys currently held in pension accounts? The tax could be paid now rather than at some indefinite future date when the pensions mature. This would have the effect of reducing the burden of personal debt, providing equity to our banks and giving much needed funding to the Government for urgent public services. This would raise far more money and it would also repatriate funds to the country as much of the privately held pension debt is currently held outside the State.

Will the Leader bring to the attention of the Minister for Finance concerns we have about the imbalance in the current taxation arrangements and future plans? There are people like me with high incomes and substantial debts through our homes, which were bought at a poor time in the real estate cycle. I cannot see the logic of imposing a property tax on a losing asset which may bankrupt people and which has no intrinsic value because of negative equity. Would it not make more sense to raise income tax on people who have substantial incomes?