Paul Coghlan (Fine Gael)

Senator MacSharry's concern for distressed home owners is understandable and is shared by everyone on all sides of the House. I remind him that the Bill to be published tomorrow is a Dáil Bill. Although I appreciate his comments, he might need to discuss the timing of its passage with his party's Whip in the Lower House. A number of its measures to assist people in distress are welcome. The banks share in the blame for all of the unsustainable loans they made available and without proper security. It is only right that they share in the solution. However, we must not forget the taxpayer's vested interest in the matter. The taxpayer owns 99% of one of the two pillar banks and more than 15% of the second bank. As taxpayers, we have an interest in ensuring that these banks return to profitability, and the sooner the better. There must be a balance and I hope that it has been struck fairly. I believe it has, but we will know tomorrow. The timing will depend on the Senator's people in the Lower House.