Irish Nationwide Bill to reach Dail

The long-awaited legislation to allow for the demutualisation and sale of the Irish Nationwide building society will be taken in the Dáil next week, Tánaiste Mary Harney has confirmed.

She told Green Party leader Trevor Sargent that the party whips had agreed that the Building Societies (Amendment) Bill 2006 should go through the Oireachtas next week, the final Dáil week before the summer recess.

The Bill would also allow EBS to remain a mutual, but become more like a bank.

Mr Sargent raised the issue in the Dáil yesterday when he complained that the legislation would be taken ahead of legislation dealing with disabilities and citizens' information.

Questioning the Government's legislative priorities, he said that the Building Societies (Amendment) Bill "strikes me as not being as urgent as the citizens' information legislation the Minister must pass to address advocacy for those with disabilities".

The Dublin North deputy said he viewed the demutualisation legislation as "benefiting one building society and several very high-up people in it".

Ms Harney, standing in for the Taoiseach, replied that "obviously Ministers will have different priorities, depending on their area of responsibility. Each decides what the priorities are. However, I understand that the whips agreed to take that Bill next week."

Yesterday, Brendan Burgess, who has been a long-term campaigner on consumer issues, warned that the Building Societies Bill should not be rushed through the Dáil.

"Serious debate needs to take place on this Bill. While we don't want discussion to drag on indefinitely, the Bill is seriously flawed and these flaws have to be fixed" Mr Burgess said.

He is calling for members of the building societies to be consulted on the Bill's contents.