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Seanad
‹ Order of Business

Town-centre decline and bank pay

Summary

Senator Mullins supports a debate on struggling town-centre businesses and welcomes the Finance Minister’s instruction that bailed-out banks reduce salaries.

I share the call by Senator Feargal Quinn for a debate in the House on the challenges facing town centre businesses. As the Senator correctly noted, these are facing major challenges, and the Government will not be able to resolve all those problems. The Senator has contributed very significantly to helping towns around the country and we could all benefit from his wisdom in the House. I would like very much to see the debate he has called for.

I welcome this morning's instruction by the Minister for Finance, Deputy Michael Noonan, to the banks to reduce salaries by between 6% and 10%. It is important that all sectors financed from the public purse make a contribution to national recovery. I hope the semi-State bodies, such as RTE, etc., will receive similar instructions. I ask the Leader to at some stage organise a full, open and frank discussion with the Minister for Public Expenditure and Reform, Deputy Brendan Howlin, on how further savings can be made within the public service. As we cannot impose any further taxes to reduce the budget deficit of €12 billion, savings must be achieved through cuts in public expenditure. I would like to see us exploring the possibility which works very well in industry where we incentivise people to formulate good ideas and suggestions. Many people within the public service have great ideas on how to make further savings and we should explore the issues with the Minister, Deputy Brendan Howlin, at some stage.

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