A BILL proposing extensive new regulatory powers for the Central Bank will be a key element in the Government’s programme of legislation for the spring session of the Dáil.
The programme will be announced by Government chief whip Pat Carey following today’s Cabinet meeting and as the Dáil returns for its first sitting after the Christmas break.
The legislation on the Central Bank will give it new regulatory powers following the Government decision to merge the Office of the Finance Regulator with the bank.
Today’s announcement comes amid continuing criticism from the Opposition that most of the promised Bills are not published in time. Fine Gael whip Paul Kehoe said yesterday that the programme of legislation the Government publishes at the start of each session bears no relation with reality.
“I have said that on many occasions that it needs to bring out a set of realistic proposal. It publishes a document of proposed legislation that promises between 15 and 20 Bills. That figure has never been reached.”
The Labour Party said yesterday that only eight of the 20 Bills promised for publication in the previous Dáil session had been published. A party spokesman said one of the most urgent was a Bill to allow the planned Dublin lord mayoral election to proceed this summer. He said Minister for the Environment John Gormley has said he will hold the election in June.
A spokesman for the Minister said yesterday that the Bill would be published early in this session.