Seanad debates

Thursday, 28 June 2012

Credit Guarantee Bill 2012: Committee Stage

 

11:00 am

Photo of David CullinaneDavid Cullinane (Sinn Fein)

A few minutes ago the Minister of State was saying one year was not long enough because data and trends would not be available. He cannot have it every way. The reality is that we want an annual report. I fail to see why people read something into an amendment which is simply not there. There is no pessimism behind the amendment and no trap has been set for the Government. It simply asks that when we set up a fund such as this, especially when it is managed by a private company, a report be made available. I have no doubt that if Fine Gael and Labour Party Members were in opposition, they would call for a similar report to be made available because this is about spending and accounting for taxpayers' money. More importantly, we need reports that give us an opportunity to determine whether a scheme is working.

The Minister of State is right to say there will be continuous assessment of the scheme by the Department and the Minister. However, we want a report at the end of each year to allow us to be part of the process also. Oireachtas Members are elected in order that they can receive reports, not just on this issue. No more than Fine Gael and the Labour Party demanded when in opposition, all we want is greater accountability and transparency. We are not casting aspersions that there will be a lack of transparency or that there will be no accountability; we are just looking for greater levels of accountability. That is all the amendment seeks to do. I do not believe the Minister of State is reading too much into it, but I hope others do not. It is a very simple amendment that calls for annual reports on the scheme that we believe would help all of us. It would not set any trap but support us in order that we could evaluate the scheme properly.

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