Order of Business - 18th October 2009

Order of Business – Wednesday the 18th of November 2009
Senator David Norris: I reiterate my call for a rolling debate on the economy which would obviate the situation which happened here again today, namely, that the entire Order of Business is distorted by legitimate concerns about the economy. While I agree with much of what Senator O'Toole said, I do not agree that the matter of quantum may not be as relevant as it might appear to be. It is extremely relevant when a group of people inside the discredited banks believe that €500,000 is not enough income for a year in a period when we are cancelling the Christmas bonus, introducing prescription charges for people on medical cards and have a strike next Tuesday. It will not calm matters. The same bank announced it underestimated by €1 billion the write-off of its current bad loans. What does that say about the Government's figures for NAMA?
A major property developer whom I will not name said at the launch of Fintan O'Toole's book yesterday that the Government's figures are off the wall. I put on the record the views of Mr. Peter Mathews. He has communicated with me since and believes he was seriously misrepresented by the Minister and, perhaps inadvertently, the House was misled. I have seen his figures, which seem to be perfectly clear, and state €77 billion is made up of €33.8 billion in performing loans and €46.2 billion in non-performing loans. If one gets every single penny of the €33.8 billion and 25% of the other figure, there will be an overshoot of some €11 billion, a bill with which the taxpayer will be hit. That is a generous series of figures and does not take into account the roll-up of bank interest or the fact that there are a large number of property loans under €5 million.
In those circumstances, I ask the Leader if he will invite Mr. Peter Mathews, who is a person of sufficient significance that the Minister for Finance had a lengthy meeting with him, into the House. As he feels he has been misrepresented in this House and the House has been misled, it is important to invite him into the House, which is provided for under Standing Orders, and allow Members to have a question and answer session so we can be fully informed as to the real situation.

Senator Terry Leyden: No way.

An Cathaoirleach: Please, no interruptions. I call Senator Prendergast.

Senator David Norris: On a point of order, I received an answer from Senator Leyden who said, "No way". Does he have the authority to refuse this request?

An Cathaoirleach: That is not relevant to procedure.

Senator Frances Fitzgerald: It is a good observation.

An Cathaoirleach: Senator Prendergast, without interruption.

Senator Frances Fitzgerald: The Minister should come into the House and answer the question Mr. Mathews raised.

Senator Terry Leyden: He betrayed the Minister's confidentiality.

Senator David Norris: No, the Minister betrayed his confidentiality in this House under privilege. That is the situation.

An Cathaoirleach: There is no need for this.

Senator Terry Leyden: That is why he is not coming in.

Senator Phil Prendergast: I would like to ask the Leader-----

Senator Frances Fitzgerald: On a point of order-----

An Cathaoirleach: Senator Prendergast, without interruption.

Senator Frances Fitzgerald: On I point of order, the Minister for Finance acknowledged that he met Mr. Peter Mathews so he did not betray confidentiality.

An Cathaoirleach: It is to do with procedure.

Senator Frances Fitzgerald: The Minister acknowledged he met Mr. Mathews and discussed his figures with him.

An Cathaoirleach: A point of order concerns procedure. That is not a point of order.

Senator Frances Fitzgerald: It is important that it is put on the record.

Senator David Norris: I wish to raise a point of order. It is a serious point. This man's reputation has been seriously impugned by Senator Leyden in a manner which is factually incorrect.

An Cathaoirleach: No.

Senator David Norris: I ask the Cathaoirleach to make him withdraw that remark. It was the Minister who betrayed the confidentiality. I do not think he did it maliciously. It most certainly was not Mr. Peter Mathews.

An Cathaoirleach: I am tired-----

Senator Terry Leyden: I will read his book.

Senator David Norris: I am glad to learn the Senator can read. I know he can talk.

An Cathaoirleach: I am tired of telling Members not to mention peoples' names. If names are not mentioned, no one understands who they are. Senator Prendergast has indicated she wishes to speak and has never interrupted anyone. I ask Members to allow to her to speak.

Senator Phil Prendergast: I ask-----

Senator Terry Leyden: Florence Nightingale herself.

An Cathaoirleach: Senator Leyden, I will ask you to leave the House if you interfere once more.