Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

This is a pension deficit of €750 million. We are trying to create a legal framework within which resolution can be finally reached. I will not reduce such a serious and complicated problem that will affect so many people to the level of political catcalls across the floor of the Seanad. I am conscious of what the Bill will do, of how long the problem has been going on and the difficulty it is creating for people. After years of other Governments examining the issue and lamenting the risk, we are trying to create a framework within which, if the parties concerned can reach agreement, resolution can be achieved. I am aware of people's worries. I am also aware that the pension fund has a deficit of €750 million. I emphasise my awareness of the role of the commencement orders in this regard.

The Bill has been long debated. A Senator said there was a perception that the Bill had been railroaded through. Given the debate I have seen and the points made, the Bill appears to have benefitted from going through the legislative process and the Government hearing what different people have to say and trying to strengthen it, where possible. I acknowledge the work of the former Minister, Deputy Varadkar, and all the officials in trying to deal with many complicated issues, provide the best framework possible for the future of Shannon Airport and region and provide all the opportunities they need. I also acknowledge their work on the other issue, of which I am very much aware, of the worries people have, trying to provide a framework within which the parties involved can see the resolution of the issue.