THE former Minister for Transport, Energy and Communications, Mr Michael Lowry, has repeated that the payment of more than £200,000 for the extension to his house was an "entirely legitimate and normal commercial agreement" that would "satisfy any accountant".
The former minister told The Irish Times yesterday that he was unable, as yet, to reveal "full and legitimate" details regarding his financial affairs, as he did not want to involve Dunnes Stores, a major client of his company, in "a political issue". Dunnes Stores is a major client of Mr Lowry's refrigeration company, Streamline Enterprises Ltd.
Describing himself as "battered and bruised" and "emotionally and physically whacked", Mr Lowry said that he had decided to resign before he met the Taoiseach at Government Buildings on Saturday, in the interests of the Coalition.
He would stand again for Tipperary North at the next election, he said, and he held no animosity whatsoever towards the Coalition leaders. If free to do so, he would like to give a full, and complex, explanation of the circumstances, he indicated. He was speaking before attending the party rally held for him in Thurles last night.
"I'm overwhelmed by the exceptional support and generosity received from Dick Spring and Proinsias De Rossa," Mr Lowry said. The Taoiseach had also given him a "personal assurance" that the planned third level college for Thurles would go ahead, he said, and the first sod would be turned this month.
"I'm very happy that I took the right decision. In matters such as this, one has to think of the overall good of the Government," said Mr Lowry. "I'm totally committed to supporting the Taoiseach, Mr Bruton, and I have the utmost admiration and respect for all the party leaders in the partnership Government. But I didn't want to put them in the invidious position of asking them to support me until such time as I could come forward with answers.
"These answers would satisfy any accountant, but they would lead to protracted political questions. If I had been given the required time, up to Tuesday or Wednesday, I believe the Government would have been damaged in the meantime and I didn't want that to happen.
I was prepared to take a personal hit. My financial advisers have studied the details of the arrangement I have with Dunnes Stores, and it is entirely legitimate and normal. But the explanation would have embroiled Dunnes Stores in what is effectively a political issue.
"Anyone who knows me knows that I'm strong willed and determined and most definitely I will be standing for the Dail again. I intend to be back. That's the bottom line."
