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Seanad
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Banking inquiry legal fees

Summary

Senator Conway praises the banking inquiry but criticises lawyers who charge the State high hourly rates for advice to the committee.

I commend my colleagues in this House who are participating in the banking inquiry. They come from all sides of the House and are doing an exceptionally good job. I also commend the economists and others who are advising and are prepared to advise the banking inquiry committee free of charge because they realise the importance of the work being done by it. I regret, however, that some members of the legal profession who are providing advice at the banking inquiry see fit to charge the State for their work at an hourly rate. They are extremely capable and their expertise is required and essential to ensure the banking inquiry committee receives the best possible legal opinion that the State can provide. I call on them to reduce and, if possible, waive their fees in the public interest because the inquiry is important. As referenced, other inquiries have cost hundreds of millions of euro. The Oireachtas banking inquiry has the potential to set a precedent and create a model for how this type of inquiry can take place in the future. Members of the legal profession, with economists, accountants and others, should do the State some service and make their expertise available to the committee free of charge. We are lucky to have Members of the House like Senator Sean D. Barrett and others, as well as Members of the other House, on the inquiry team. I have no doubt that they are going not just the extra mile but also the extra miles to ensure the inquiry will unearth the truth. I hope we will have the correct narrative that will go into the history books and benefit future generations, thus ensuring we will know what went on during those days.

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