Sean Barrett (Independent) | Oireachtas source

I welcome the confirmation by the Minister for Communications, Energy and Natural Resources, Deputy Pat Rabbitte, of the appointment of Mr. John O'Connor as chairman of EirGrid. I attended the Oireachtas committee meeting at which Mr. O'Connor remarked that he himself would not like to live close to a pylon. I hope he brings that approach to the affairs of EirGrid. My correspondence in recent weeks certainly suggests that his is the majority view on this issue.

I second Senator Clune's proposal that the Minister for Finance come into the House in the new year to discuss the medium-term outlook. The Federal Reserve in the United States is holding a meeting today on tapering or the reduction of quantitative easing, which is essentially the banker and stockbroker dole. A potential consequence of that will be the end of five years of virtually zero interest rates. The Department of Finance must re-evaluate its forecasts and investment appraisals to take account of these changed circumstances.