Kieran O'Donnell (Fine Gael) | Oireachtas source

I was just reflecting when the Minister of State was talking that a significant amount of taxpayers' money went into the banks and is still in them. I would like to see that coming back for the taxpayer. As to what I believe would be the best way for it to come back, we must ensure that the valuations of the banks are held up. The recommendation could provide for a situation where there would be a major drag on the possibility of getting the maximum value back for the taxpayer. It is a view I share. I am not glad that taxpayers' money ever went into the banks. There was reckless trading. At the same time, I would adopt a pragmatic view that we need to ensure that we get maximum value for the taxpayer in repayment of the investment in the banks and we need to have a normal banking sector. There is need for the credit unions and public banking. I do not believe it should come through the pillar banks into which we have put significant taxpayers' money. Taking everything in the round, there are great dangers in tinkering with the system in terms of the hard-pressed money that was paid by taxpayers regardless of whether it came in the form of income tax, VAT or whatever. There may be unintended consequences to the recommendation.