SEANAD REPORT:A GOVERNMENT member voiced concern that the jobless figure could reach half a million.
Mary White (FF) asked that action be taken urgently to address the relentless rise in unemployment. The latest Central Bank quarterly report had drawn attention to something she had been pleading for: that the Government devise a strategy to improve our competitiveness internationally.
Noting that industrial energy costs here were the highest in the EU, Ms White asked how on earth our companies could compete in the global market place.
Jerry Buttimer (FG) said it seemed that the only strategy the Government had was to cut services, slash funding, borrow more money and then run for the hills and carry out a couple of U-turns as it went along.
Feargal Quinn (Ind) said the founder of O'Brien's sandwich bars had pointed out that he could employ 60 more people on a full-time basis if requirements, such as double pay for workers on Sundays, did not apply. Mr Quinn said we should dismantle some of this regulatory framework in order to enable the creation of more jobs.
Liam Twomey (FG) remarked that some of those on the Government benches sounded like they were on the opposite side of the House.
Seanad leader Donie Cassidy said that energy costs for business were unacceptable. He asked that members on all sides of the House join with him in a determined drive to see how this issue could be tackled, specifically the challenging costs of electricity, gas and petrol and diesel.
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Banks were stealing from customers to pay for the cost of the Government guarantee scheme introduced at their request, Shane Ross (Ind) said.
Inquiries made by his office indicated that the banks would not pass on the full benefit of the latest European Central Bank interest rate cut.
They would use it to capitalise or to increase their profits. Despite immense Government pressure the banks had not capitulated when an earlier cut had been made. "That means that the guarantee scheme is already being paid for by the customers," he said.
Joe O'Toole (Ind) said AIB had confirmed that it was capitalised as required. "It is not the case that we should be saying that the banks are more at risk today than they were yesterday. They are not."
The Seanad leader said those banks which had benefited from the guarantee should pass on the latest ECB cut "100 per cent." Those that did not do so would be named in the House next Tuesday.
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Labour Affairs Minister Billy Kelleher urged that employee representatives join with their employer counterparts on joint labour committees to reflect on the new realities in the context of the economic downturn.
He acknowledged that statutory minimum pay requirements were impacting on job retention in the small business sector. He believed that some employees would be prepared to work for less than the legal limit if it meant that they could keep their casual jobs.