Children Bill and proposed bank sale
Thomas P. Broughan seeks progress on the children (amendment) Bill and debate on selling AIB and EBS. The Tánaiste confirms the Children Bill is due this session and cites debt and interest savings from banking measures.
I have two matters. There is a sense of urgency about the children (amendment) Bill in relation to the commitment given on St. Patrick's Institution.
On the moves being made by the Tánaiste's colleague, Deputy Noonan, to spend €35 million or €40 million on various stock market consultants in flogging off a large portion of AIB and EBS, will the House have an opportunity to discuss that proposal or is it something that will come forward in the Finance Bill? Is it the settled policy of the Tánaiste's party that we should sell this State asset, which cost the people in excess of €20 billion and which devastates the budget?
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Is it the Tánaiste's settled policy-----
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-----that we will flog off AIB and EBS, which lost its independence as a mutual through a stroke pulled by the former Minister, the late Deputy Brian Lenihan, and that Fianna Fáil Government? Is that the Tánaiste's policy?
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Will the Tánaiste give us a chance to discuss it?
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The children (amendment) Bill is for this session. On the recovery of funds from the banks and the financial institutions in the context of the banking collapse, as Deputy Broughan will be aware, strong progress has been made in renegotiating some €40 billion in savings from the national debt and very significant savings in interest from the different arrangements which have been entered into. That is a considerable saving. It is one of the reasons the economy is entering a recovery period. I would think Deputy Broughan would welcome that. On whether the Minister, Deputy Noonan, will discuss that with the House or, if a Bill is appropriate, bring it before the House, I am sure the answer on both issues is "yes".