Labhrás Ó Murchú (Fianna Fail) | Oireachtas source

Once again Senator Barrett has put forward some very interesting statistics with regard to the forthcoming referendum. I am of the views that those statistics are factual in nature. If one compares them to the dearth of information being made available by those who support the abolition of the Seanad, it is quite clear that - as I said yesterday - there was a need for either a White Paper or a Green Paper to be brought forward in order to guide and assist us in this debate. I hope, even at this late stage, that some effort will be made to ensure honesty in respect of this matter. The figure of €20 million is now out of court and the argument that there will be fewer politicians and other matters should have been addressed previously.

Most people will agree that there is a need for a banking inquiry. I am disappointed that people have put forward the idea that the inquiry will be used in order to damage one political party or another. The main focus of the inquiry should be to obtain answers in respect of what caused the banking debacle which almost brought the country to economic ruin. The debacle to which I refer has also caused people to suffer. I refer to those who lost investments, whose pensions have been affected and who have been obliged to close down their businesses. If the proposed inquiry is not used for the purpose to which I refer, then we will only be rubbing salt into the wounds of those thousands of people who have suffered. Deputy Ross made a number of comments on this matter this morning. When the Deputy was a Member of this House, he was the most focused and informed among us in respect of this issue and he wrote extensively on it in the Sunday Independent. The Deputy raised the alarm with regard to the inquiry earlier this morning when he stated that by not involving the former Anglo Irish Bank in it, all that will happen is that people will be provided with an opportunity to grandstand. The inquiry is going to be about posturing and the people will not accept that. I hope that a great deal of consideration has been given by the Government, its advisers and anyone else who has a role to play to the form the inquiry is going to take. I hope the matter has been well thought out. If, as it likely, the inquiry runs into a cul-de-sac or if it is placed on the long finger - there are some who have suggested that it will not commence its deliberations for 12 months - I can inform that Leader that this is not what the people are seeking. What they want are real answers and a forensic examination of everything relating to and everybody involved with this issue. I stand open to contradiction but, having listened to Deputy Ross - who seems to be so well informed - I am somewhat concerned that the inquiry is not going to lead to where it should lead, that it is not going to provide the necessary answers and that it is not going to bring solace to the many thousands who have suffered as a result of the banking debacle.