Tom Shehan (Fine Gael)

I am looking for an open and transparent debate on the workings of NAMA, which is working under a veil of secrecy. To whom is NAMA accountable? I thought that as a country, we had moved away from shady deals of this nature. I would like an open and transparent debate. Perhaps the Leader could arrange for senior officials from NAMA to come to Leinster House 2000 for a question and answer session, if that is possible.

I have been working on the issue of rates for some time. I have been in contact with officials in the Valuation Office, which is reviewing all rates but unfortunately does not have the manpower it needs. There has been a 30% reduction in certain categories of rates in Dún Laoghaire-Rathdown, where such a review has been carried out. The only problem with the Valuation Office's review of rates is that it will take about ten years for the office to do the whole country. I suggest that local authorities be allowed to assist the Valuation Office in the review of rates, if at all possible. Local knowledge is of paramount importance when rates are being reviewed. As I have said, rates for some businesses in Dún Laoghaire-Rathdown have decreased by 30%. Rates are calculated on the basis of floor area, plus the best achievable rent. As we all know, rents have dropped by half. We need to share some of the burden because the Valuation Office does not have sufficient staff. If local authorities could be engaged to do the Valuation Office review, the mess that is our system of rates could be sorted out in a short amount of time.