I am regularly contacted by constituents affected by unemployment who need information on education and training opportunities, social welfare entitlements, and other information related to coping with the recession. To address these matters I have arranged a public information seminar on unemployment issues. I held one recently in the Dublin 4 area that was very well attended, so I am now organising a second one.

Lucinda

Venue: Garda Club, 8-10 Harrington St, Portobello, Dublin 8

When: 21st June 2010, 7:00PM

Participants:

I am pleased to have an opportunity to speak on this important legislation, namely, the Central Bank Reform Bill 2010. Clearly, this legislation is badly needed and were one to comb the nation’s highways and byways, it would be difficult to find anyone who does not share the view that our banking and financial systems, and probably our political system, are in dire need of reform. Consequently, this Bill constitutes an important first step. I believe the public is disillusioned and distrustful and is utterly dubious about all financial and regulatory institutions within this State and consequently, reform is badly needed. A robust, credible and rigorous system must be developed that will prevent any recurrence of the type of Russian roulette-style banking and financial practices that literally have brought this country to its knees. While a new system of regulation undoubtedly is required, the question is whether the legislation proposed by the Government is the solution and this requires some consideration.

Objectively, it is highly difficult to place one’s faith and confidence in any system proposed by a Government that itself is utterly discredited. (more…)

On Tuesday Government and Unions negotiated a new public sector pay agreement, dealing with the employment conditions of public sector workers. The deal covers all the main sectors in the public service including Health, Education, Justice, the Civil Service and State Agencies up to 2014. This is a milestone in Irish public policy as it was negotiated outside of the social partnership regime.

The Death of Social Partnership

This means that social partnership has finally run its course and is no longer the preferred method of negotiating pay and conditions in either the public or private sector. As the national finances have collapsed, social partnership is no longer a sustainable model for deciding the levels of pay of public servants. It is an outmoded model, which may have been relevant in the 1980s, but has long outlived its relevance. Looking at the historic impact of social partnership, it seems that pay deals were agreed behind closed doors, often at the expense of any real or meaningful public sector reform.

We now need to be realistic about the need for real public sector reform. (more…)

The decisions taken on Tuesday in relation to the banking sector have doubled the national debt.

They bring to €40B the total amount the Irish taxpayer will be putting into Anglo Irish Bank because of that bank’s reckless behaviour over the past decade.

Sadly this is not monopoly money, it is not ECB money. It is not cheap money. It is mortgaging the future of our country. Future generations will carry the burden of this debt. It is the final bill of the reckless economic management of the Fianna Fail government.

The Government’s Banking Policies

The Government’s banking policies have proved to be an expensive formula for delay, continuing credit contraction and job decimation.

1. When the Guarantee issued in September 2008, Minister Lenihan said it was “the cheapest bank bail-out in the world so far” (Irish Times, October 4) – instead it has proved the most expensive.

2. When the €11 billion of taxpayers’ money was given to AIB (€3.5 billion), Bank of Ireland (€3.5 billion) and Anglo Irish Bank (€4 billion) in May-June 2009, Minister Lenihan promised new lending for small businesses and a generous cash return for taxpayers. Neither was delivered.

3. When enacting the NAMA plan for the State to borrow €54 billion to buy toxic assets from the banks, Minister Lenihan said this would see “a wall of cash” (Sunday Tribune, September 16) hit the Irish economy. But instead lending conditions have continued to tighten and the banks have said they will use this money to repay their own debts instead of lending it into the economy. (more…)

Today in the Dáil Lucinda challenged Brian Cowen to face up to the effect that upward-only rent reviews are having on businesses around the country. Although the recent Land and Conveyancing Act introduces a proviso for fair rent in new leases, this has no effect on commercial leases signed before that legislation was enacted.

Lucinda therefore raised the matter with the Taoiseach and got an agreement from him to look at the issue again:

Deputy Lucinda Creighton: The recently enacted Land and Conveyancing Law Reform Act 2009 provided for a change to the upward-only rent reviews that were in place until that time. The Taoiseach is well aware that the legislation is not retrospective due to legal advice which I believe came from the Attorney General.

A letter in today’s The Irish Times by Professor David Gwynn Morgan, who is one of the foremost constitutional lawyers in the country, questions that legal advice. He says it is not unconstitutional to retrospectively address the issue of upward-only rent reviews.

The Taoiseach will be aware that the Grafton Street Tenants’ Association met yesterday morning and it is pleading with the Government to address this issue. The new legislation does nothing for people who find themselves in difficulty right now.

There has been no opportunity to address this issue as it was left out of the recent legislation. This is a very important issue for traders who are struggling to stay in existence and to keep people in employment. I would like to see some action from the Government on the matter.

The Taoiseach: The question of rents and arbitration is being examined. The Government takes its advice on all matters from the Attorney General but I will consider the correspondence.