Leo Varadkar (Dublin West, Fine Gael)
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Question 143: To ask the Minister for Finance his views on the proposal details supplied; if he will request that an independent assessment be carried out on the proposal; and if he will make a statement on the matter. [29586/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Taoiseach gave an undertaking in the Dáil last week to provide a considered response on behalf of Government to the proposals in Fine Gael's NewEra document. I understand that the Government's response is currently being prepared and I expect that it will issue to Deputy Kenny shortly.

Leo Varadkar (Dublin West, Fine Gael)
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Question 144: To ask the Minister for Finance his views on Fine Gael's banking policy alternative; if he will request that an independent assessment be carried out of the proposal; and if he will make a statement on the matter. [29588/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In formulating policy responses to the impact of the financial crisis on the Irish financial system, I have welcomed all constructive observations, comments or advices that have been offered.

The Government examined a number of ways to deal with the risky assets on the balance sheets of Irish banks, which were preventing banks from lending into the economy and thereby supporting economic recovery. Taking account of Dr Peter Bacon's report on options for resolving property loan impairments, and the consensus amongst the Government's advisors including the Central Bank, the Financial Regulator and the NTMA, the Government concluded that the establishment of an asset management agency was the best means of ensuring that the banks were freed up to lend to the real economy. As the Deputy will be aware, a Steering Group established by me is overseeing the preparation of the NAMA legislation in parallel with the practical preparations for the establishment of NAMA. The legislation will be published before the end of the month and will be fully debated in the Oireachtas.