NAMA passes final stages in Dáil
Thursday, 5 November 2009 23:03
The NAMA legislation has passed the report and final stage in the Dáil by 77 votes to 73 in favour of the Government.
The legislation has been amended to give the Minister for Finance power to issue guidelines on lending to the banks to improve the flow of credit to small and medium businesses.
The Bill will now go to the Seanad, where further amendments are excepted.
Earlier, Opposition parties criticised the Government's decision to conclude the final stage of the Bill at 8pm.
Fine Gael TD Alan Shatter said the Government was essentially trying to guillotine the debate and pointed out that only four of the 135 amendments have been discussed.
Labour Party Finance Spokesperson Joan Burton proposed the idea of the Dáil sitting over the weekend so that all items could be discussed.
However, Tánaiste Mary Coughlan pointed out that the NAMA bill will have been discussed for 86 hours at the end of today's business.
She said it will be back before the Dáil next week following the Seanad's consideration of it.
Minister for Finance Brian Lenihan opposed the Labour amendment for a two-year moratorium on banks pursuing mortgage defaulters.
However, he said the Government is going to engage with the banks on the issue.
- Nine News: David McCullagh, Political Correspondent, reports that a NAMA amendment will allow the Minister for Finance to push banks to lend more money
- Nine News: Brian Dowling reports that after months of rows and criticism the Government is almost at the finish line
- Six One News: David McCullagh, Political Correspondent, reports that a NAMA amendment will allow the Minister for Finance to push banks to lend more money
- Six One News: David McCullagh discusses some of the amendments that will be introduced in the Seanad next week
