Sean Barrett (Independent) | Oireachtas source

I thank the Leader for his splendid contribution on the role of the Seanad during yesterday's debate on the Thirty-second Amendment of the Constitution (Abolition of Seanad Éireann) Bill.

On the points made by Senators Conway and Hayden, the House will be taking Committee Stage of the Central Bank (Supervision and Enforcement) Bill 2013 this afternoon. In that context, I note that some of the fines will be levied at values which will be merely double the amounts that obtained under the 1942 legislation. In real terms, this represents a reduction. In light of the major level of public concern regarding this matter, serious consideration should be given to waiving the unwritten rule to the effect that Members on the Government side cannot table amendments.

Work on the Luas extension will begin on Monday next. That work will take place very close to the Houses. Concern must arise in respect of this matter, particularly when one considers that the project relating to the Tallaght and Sandyford Luas lines - originally estimated to cost €290 million - eventually came in at €750 million. The Secretary General of the Department of Public Expenditure and Reform estimates that at the time there was a €6 subsidy per passenger because the capital had not been costed in properly. In the context of the current project, reassurances must be provided to the effect that proper procedures have been put in place. The Comptroller and Auditor General has warned that on the previous occasion most of the risk involved was borne by the taxpayer rather than the engineers. I would go so far as to say that we must be prepared to bankrupt construction companies which played a role in trying to bankrupt the State. It is important that this project should be brought in on time. It is a useful project and it offers a much more attractive alternative to digging up St. Stephen's Green and connecting the two sides of the city via an underground section. It is a good project but we have had bad experiences in the past with regard to similar projects.

My final point relates to the report on prescription drugs by Paul Gorecki, Aoife Brick and Anne Nolan of the ESRI. The report notes that spending on such drugs in Ireland is now the third highest in the world and that the level of such spending has risen dramatically from 46% of the level in the United States - which, unfortunately, leads the way - in 2000 to 58% in 2005 to 70% in 2010. It also states that notwithstanding the success the Minister for Health, Deputy James Reilly, has had, we must continue to pursue this matter. In particular, it draws attention to the fact that the substitution of generic drugs for patented ones in this country gives rise to reductions of 20% when the level of such reductions should be approximately 90%. The Minister is due to come before the House later today. As guardian of the public purse in respect of engineering projects and the price of pharmaceuticals, the Seanad should always seek to assist Ministers in controlling prices in sectors which have a strong tradition of overcharging.