Ned O'Sullivan (Fianna Fail) | Oireachtas source

I express my support and solidarity with An Garda Síochána in light of the appalling incidents in recent days. We are fortunate in this country that we have a community police force. The Garda depends on the support of the community and it invariably has the support of 90% of decent people. When this country was in difficulty during the Troubles, An Garda Síochána and the Defence Forces stood between us and mayhem and chaos, with people trying to undermine the State. Many gardaí paid the ultimate price, not least my friend Jerry McCabe in Adare. We should express that support for the Garda Síochána. People are quick to criticise the organisation if a garda issues a parking fine or a speeding ticket or calls to a pub at closing time, for example, but communities should express the strong support they feel for the Garda Síochána. I am delighted to say that in my town tomorrow, the Garda Commissioner, Drew Harris, will lead a celebration of 100 years of the Garda Síochána, and I assure the House that every man and woman in Listowel who can be out will be there to celebrate with the Garda. I am sorry I cannot be there myself.

On a separate issue, the banks are at it again. They are again making profits and were quick out of the traps when it came to increasing charges on both general lending and mortgage lending. At the same time, today's newspapers show that our banks pay the lowest rates of interest on deposit accounts in Europe. It is pitiful what they are paying in these inflationary times and when they are starting to make serious profits again. While they have quickly jacked up their lending rates, they are very slow to address their deposit rates. A large cohort of our citizens, elderly people, depend on perhaps a lump sum that has been deposited in the bank to keep them going. At this time of inflation, those savings are being eaten into and the bank is paying this niggardly rate of negligible interest.

I ask the Minister for Finance to address this. We complained in the past about light regulation over the banks and rightly so. We need strong regulation now when it comes to banks paying decent deposit rates, especially to our elderly citizens.