Bank pay and Mercer report
Senator Coghlan defends the Government’s position on the Mercer report and argues that its minority Bank of Ireland shareholding explains its stance. Senator O’Brien challenges the Government’s abstention on a bank-pay vote.
I would like to be associated with the tributes that have been paid to the late Deputies Dick Barry and Harry Blaney. Many of us knew Dick Barry for 30 to 40 years. He was a great, kindly, personable man, who, as has been said by Members on the other side, liked nothing more than meeting new Members as they came into the House, conversing with them and regaling them with stories. He was always most engaging. We knew his daughter Myra well and we offer our deepest sympathy to her.
I got to know Harry Blaney very well when he and Jackie Healy-Rae claimed, probably correctly, that they were the fourth wheel under the Government of 1997 to 2002. They did keep it on the road for five years. For family reasons - not a connection, but a friendship - I happened to get to know Harry well. I would like to be associated with those tributes and to pass my sympathies on to his wife Margaret and his son Niall, who served in the other House.
Senator Darragh O'Brien, do you know you are a gas man?
Comment on this
Here he is again trying to berate the Minister, Deputy Noonan, the man who was responsible for the Mercer report, who addressed this subject and who has let the banks know that they have until the end of April, which is today. He wants the cuts to come in at between 6% and 10% - a proper reduction. Senator Darragh O'Brien has been answered before by the Leader and by many of us on this issue.
Comment on this
That does not explain why the Government abstained on the vote. Why did it abstain?
Comment on this
The Senator heard the Minister, Deputy Noonan, in Limerick on Saturday.
Comment on this
He voiced in the strongest, most trenchant terms his total disapproval of what the bankers are paying themselves.
Comment on this
Why did he abstain on the Bank of Ireland vote?
Comment on this
I have. I have no doubt the Leader will confirm what I am saying. The point about that 15% stake is that Senator Darragh O'Brien knew, as everybody knew, the proxies were at 90%. Where would we have got to with 15%?
Comment on this
I ask the Leader to confirm that what I am saying in answer to Senator O'Brien is correct.
Comment on this
Please God, we will probably have that response from them today.