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Seanad
‹ Order of Business

Promissory note payments

Summary

Senator Gilroy calls for a full debate with the Finance Minister on the €3.1 billion promissory-note payment due in March and possible alternatives; procedural interruptions and a Roscommon aside follow.

I support the call by my colleague, Senator Harte, for a full and robust debate on the promissory notes with the Minister for Finance in attendance in the House. It is a matter of pressing public policy which has the potential to lay the largest single liability on the Exchequer next year. Some €3.1 billion is due for payment on 31 March plus the restructured €3.1 billion from last year. We could well do with a debate on it. We could pay the promissory notes, seek to reschedule the payment structure or not pay the promissory notes. It is important that the House has an opportunity to tease out the possibilities and the implications of each of these scenarios. I call on the Leader to invite the Minister for Finance to the House. It is important that should be done soon before the budget because the strategy being pursued has severe budgetary implications. Perhaps the Leader could organise that debate.

I also support a call by Senator Cullinane for the Minister to examine the possibility of the use of GPS technology by our offshore fishing fleet.

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Denis O'Donovan An Leas-Chathaoirleach Fianna Fáil

Some Members might find it hard to hear the Senator as a foreign station is-----

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Members are talking and interrupting me. That is shocking.

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Denis O'Donovan An Leas-Chathaoirleach Fianna Fáil

Unfortunately, it is a common occurrence on the Order of Business and it is unfair to those who are making their contributions.

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The foreign station is from Roscommon.

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