THERE WAS a factual financial and social division between the public and the private sectors Eoghan Harris (Ind) said on the Order of Business.
It would take between three and five years to reform the public service to the point where it would be a happy place for those employed in it and where those in the private sphere would feel they were getting satisfactory services.
Until that gap was closed, there would be no improvement in relations between the sectors.
There was a real problem with the creation of a “Nama industry”, Shane Ross (Ind) warned. It was staggering to find that the State would pay out a possible €2.4 billion to the agencies involved over a period of 10 years.
He had never come across anyone in the auctioneering world who knew how to value properties properly and he would not expect them to be able to do so.
Mr Ross said: “They will give Nama the valuations it wants in return for fees.
“We do not need a Nama industry like that because no one will be independent, and yet they will get significant sums from the taxpayer. “This type of activity would not be required were nationalisation involved.”
Mr Ross said that Nama was giving the banks autonomy they did not deserve.
Allied Irish Banks was the latest bank to appoint an insider to take over a crucial executive role.
Liam Twomey (FG) said that in order to legitimise Nama in the eyes of the general public, he had proposed that shares in the agency’ SPV should be sold to the Irish people along the lines of the national loan bonds of the first Dáil. This would allow every citizen to own Nama, he said.
Terry Leyden (FF) said he was concerned that members of the Oireachtas would be committing an offence if they lobbied Nama. This was taking away the role of TDs and senators.