Seanad debates

Thursday, 4 November 2021

Finance (European Stability Mechanism and Single Resolution Fund) Bill 2021: Report and Final Stages

 

10:30 am

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

I have a principled objection to these amendments. I believe that the need that Senator Higgins refers to is better discharged through the normal functioning of the Oireachtas and the normal procedures of accountability between the Minister and the Oireachtas committee. As I indicated in my opening contribution, I do not believe that there should be further reporting requirements for a member of Government on this matter beyond the normal procedures that are in place. In particular, I have a concern about amendment No. 4, which lays down a timeline in which this could be done. It is certain that by 1 December 2021, the Government will not have concluded its work on what our national position will be in the debate that is unfolding on the future of the Stability and Growth Pact. On the other matters, I believe that the best way for the Government to inform the Oireachtas and the country on our view on the future of the Stability and Growth Pact and our national position is through the normal procedures between the Oireachtas and the Government. For those reasons, I am not in a position to accept Senator Higgins's amendments but I assure her that, in the debate which will unfold across next year rather than this year, the Government will make the Oireachtas aware of our national position in this important debate.

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