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Seanad
‹ Order of Business

Scrutiny of EirGrid and government action

Summary

Senator Darragh O’Brien praises the EirGrid debate but criticises political attendance, then asks about pyrite legislation and whether banks will pass on the ECB rate reduction.

I can oppose them after the Order of Business when the Leader puts it to the House that they be taken without debate. I am just putting the House on notice that I intend to oppose them.

I welcome the debate we had yesterday about EirGrid and the fact that the Minister, Deputy Pat Rabbitte, was here for the full debate, which was useful. In the main, the debate was carried out in the manner in which it should have been, despite obvious disagreement. I commend Senator Rónán Mullen for his introduction of the motion. It was a good debate and the vote ran close. It was a terrible shame that the amendment was passed by only one vote and that our Sinn Féin colleagues did not have a full complement of Senators to ensure the vote was lost. However, that is an issue for another day. I hope that when Senator David Cullinane is up the Comeragh Mountains next week protesting against EirGrid, he will remind the people of Waterford and people as far as the Border and into Tyrone that he could not even manage to get his troops - all three of them - in here to vote on such an important issue.

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Paddy Burke An Cathaoirleach Fine Gael

That is not relevant to the Order of Business. Does the Senator have a question for the Leader?

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We will revisit that issue. The Minister, Deputy Pat Rabbitte, took on board some of the points made yesterday. My colleague Senator Thomas Byrne raised our concerns yesterday regarding the process that resulted in the appointment of Mr. John O'Connor. Our debate yesterday was useful, but it is a terrible shame that the Sinn Féin Members who are so exercised about this could not ensure-----

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Paddy Burke An Cathaoirleach Fine Gael

The Senator indicated that he wished to propose an amendment to the Order of Business, but he is running out of time.

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No need to worry. It is important to highlight this.

Will the Leader find out from the Government when the pyrite resolution board legislation will be published? This will put the board on a statutory footing and enable it to accept applications for compensation. This House has done a good job-----

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Paddy Burke An Cathaoirleach Fine Gael

The Senator is out of time.

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I wish to make a final point on an issue about which Senator Paul Coghlan is always concerned. I welcome the ECB rate reduction of 0.25%, giving a base rate of 0.25%, announced by Mario Draghi the week before last. This is good news for those on tracker mortgages, but the State effectively either owns or has a stake in three main retail banks here, AIB, Permanent TSB and Bank of Ireland. Has the Government made any contact with these banks with a view to insisting they pass on that rate reduction to their variable rate customers, some of whom are paying variable rates of over 5%? What is the Government's position and what advice is it giving to the banks we have supported?

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