Sean Barrett (Independent) | Oireachtas source

I note that we were not able to cover more than one fifth of the Finance Bill last week. While I accept that is how it happened, I suggest that we go through the important items in the new year. People on this side of the House wanted to have an input into the budget. For instance, section 42 extends capital gains tax relief for properties from the 2011-13 period to 2014. This seems like something that should have been debated in the House. I would also have liked to have discussed pension funds and so on. Rather than have the House never discussing the remaining items, perhaps the Leader might arrange a debate at some stage, regardless of whether the Minister is available to attend.

Yet another insurance company is close to going broke. Apparently, RSA Insurance is short €270 million. As the Minister for Finance moves away from his strong and excellent work in recent years, regulating financial institutions requires debate in this House. Some €270 million is needed by an insurance company, €52 million for a credit union, pension funds must be dealt with, etc. As this sector caused us so many problems in 2008, I would welcome it if the Minister was willing to debate the issue with the House.

I commend the Minister for Transport, Tourism and Sport, Deputy Varadkar, on promising a decision early in the new year on the Phoenix Park tunnel, a railway that connects Connolly and Heuston stations. Platform 10 has already been built. We know from correspondence with the Minister and his work on our behalf, that CIE does not wish to re-open the link. It would prefer something more expensive, as engineers usually do. The estimate is €10 million. The tunnel exists. It runs freight trains, has concrete sleepers and electronic signalling and could be opened for much less than €10 million or whatever would be the cost of building a tunnel through St. Stephen's Green, which is what the railway engineers would like us to do. I commend the Minister on considering a low cost way of relieving congestion in the city, particularly while the Luas lines are being extended.