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30/10/2009
NAMA Debate Concludes
A crucial debate during the committee stage of the National Asset Management Agency (NAMA) legislation has concluded in the early hours of this morning.
The extended debate in the Daíl, which finished at around 5.30 this morning, concludes the committee stage of the NAMA bill, which will spend billions on buying toxic assets from banks.
The marathon discussions involved consideration of some 250 amendments to the legislation, which will establish the highly controversial body.
Fifteen TDs including the Minister and the Finance Committee Chairman Michael Ahern were in the chamber at the conclusion of the debate - a total of eight Fianna Fail, four Fine Gael and three Labour deputies.
Following the debate, Minister for Finance Brian Lenihan said he would introduce a number of further significant amendments on the report stage next week.
The suggested amendments include a levy on banks through a tax surcharge to cover any potential losses on the NAMA operation, with Mr Lenihan saying it was “necessary to ensure the balance sheets of the banks are not infected with a contingency that’ll devalue them”.
Mr Lenihan also said the government intended to take a shareholding in Irish Nationwide Building Society and in the Educational Building Society.
(DW/KMcA)
The extended debate in the Daíl, which finished at around 5.30 this morning, concludes the committee stage of the NAMA bill, which will spend billions on buying toxic assets from banks.
The marathon discussions involved consideration of some 250 amendments to the legislation, which will establish the highly controversial body.
Fifteen TDs including the Minister and the Finance Committee Chairman Michael Ahern were in the chamber at the conclusion of the debate - a total of eight Fianna Fail, four Fine Gael and three Labour deputies.
Following the debate, Minister for Finance Brian Lenihan said he would introduce a number of further significant amendments on the report stage next week.
The suggested amendments include a levy on banks through a tax surcharge to cover any potential losses on the NAMA operation, with Mr Lenihan saying it was “necessary to ensure the balance sheets of the banks are not infected with a contingency that’ll devalue them”.
Mr Lenihan also said the government intended to take a shareholding in Irish Nationwide Building Society and in the Educational Building Society.
(DW/KMcA)
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