Michael Collins
Cork South-West · Independent Ireland · Ireland
“This matter has been raised twice already this morning, but it is hugely important. I will make a personal appeal to the Taoiseach regarding Skyclarys and the further delay that has now arisen. Yesterday, Emma O'Shea came to Leinster House from west Cork with her mother, father and brother.”
“Another huge problem which normally arises in August is that relating to school buses. Parents have no way to get their children to school because of the nearest school rule. The current and previous programmes for Government contain promises that this will be done away with, but nothing has happened. The rule needs to be abolished.”
“Every parent knows that September has become one of the most expensive months of the year. While free schoolbooks are welcome, many families now face growing costs for other items. Parents are being asked to purchase laptops that cost €400 or more, make increased payments for school transport and pay charges to cover examination fees.”
“Either 25 children are left without a school place this September, or two senior infants classes are merged into one class of 34 children. Does the Minister of State agree that schools should not be punished for helping to solve an enrolment crisis? Will he immediately sanction the additional teaching posts required for St.”
“Education should not be measured by means of the distance someone lives from school, and school transport should not be measured on that basis either. I want to raise a matter that Councillor Bill Clear brought to my attention. It is a very serious issue regarding St. Corban’s National School in Naas in County Kildare.”
“I was chairperson of a board of management and know the difficulties that schools face just because they are one or two children short. That can be made up as the year goes on but it is a crisis that Councillor Clear finds unacceptable.”
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“If small businesses do not follow the new rules they could face legal actions, fines or other penalties without legal teams, which most small businesses do not have. It might be tough for them to handle these issues, increasing the risk of mistakes. Formal union negotiations and disputes could cause workplace tensions or disruptions. Even small disruptions can significantly affect productivity and customer satisfaction in small businesses. There are financial impacts. Collective bargaining might lead to higher labour costs like increased wages or better benefits for small businesses with tight budgets. These extra costs could be challenging.”
“This Bill aims to improve workers' rights, but it also brings some challenges for small businesses, which would cause me to be concerned. I see Independent Ireland supporting this Bill going forward, but I want to raise concerns we have because there are a lot of concerns for small businesses in particular. Small businesses would no doubt have more paperwork and formal tasks like negotiations and dispute resolutions. This can take up their limited resources and distract from their main activities and running their business. Second, mandatory union recognition could make it harder for small businesses to make a quick decision about staffing and operations. This could slow down their ability to respond to market demands or internal issues. There are legal risks.”
“I would be delighted and would welcome that. Young people would live anywhere; in log cabins, mobile homes or caravans. That is the crisis we are in. There are 15,000 people without homes, there are children without homes and there are serial objectors. If there is a serial objector to a wastewater treatment plant and there is a fish kill, that individual has to be held personally responsible. Government Members have to stand up to these people. If they do not, they are kicking the can down the road the same as they are doing with rural planning. Young people are trying to pay for houses but cannot do so. That has to change.”
“Shannon Vale, Ballydehob, Rosscarbery and Goleen are 25 or 30 years with raw sewage pouring out all over the place. We have wastewater treatment plants bursting at the seams while the Government stands idly by and does not accept that there is a crisis. Independent Ireland did not put false figures before the people. Nor did we say that we would deliver a certain number of houses. What we said was that we wanted to deal with the housing emergency. Fianna Fáil and Fine Gael do not want to mention the emergency because it is an embarrassment, but it is an emergency. Instead, they want to give some tsar €430,000 to talk us further into the hole we are in. They promised the people log cabins a number of months ago but they have not moved one millimetre on that. Maybe I am wrong. I hope the Minister of State has a report on that today.”
“If we got a euro for every time we spoke about housing since I came to Dáil Éireann, we would have a hell of a lot of houses built. We have a massive problem. We know that. I cannot understand why Fianna Fáil, Fine Gael, Sinn Féin, the Social Democrats and Labour have thrown out figures for delivery of housing which they know they can never deliver. Go down to my patch in west Cork and you cannot build a house there. Not one house in Dunmanway. Imagine. It is an astonishing situation. I would love the Minister of State to come down and see the problem. Raw sewage is pouring into the local watercourses. The EPA does not give a damn, nor does Uisce Éireann or anyone else. They are all telling us they might do something in 2030, 2035 or 2040 and kicking the can down the road.”
“That was only last week, and I will be talking to them. However, that is the point I am trying to make. Those in the rural communities to which I refer cannot be expected to travel to Cork because they will not get accommodation there. There is an opportunity for places like Skibbereen and Kinsale to thrive if they get the supports.”
“A person from Sheep's Head has to travel 118 km each day. That is not right. There has to be some kind of subsidy put in place for education facilities in the likes of Skibbereen and Kinsale to survive. We had the same situation last year in relation to horticulture. The horticulture course was being dropped because the numbers were not there. There are numbers but they are not adequate. The problem is that Cork will dictate. Cork can have huge numbers because it has the population. I want the Minister to look into this because people want to go to take up higher education level 6 courses in healthcare but they cannot do so. They are told to do it in Cork because they will not be able to do it in Skibbereen. That cannot be allowed to continue. In fairness, I was accommodated when I sought a meeting.”
“I will begin by wishing Deputies Harkin and James Lawless the very best in their positions going forward. This is the first opportunity I have had to wish them well. We have situations where there is a rural-urban divide in higher education. My concern is that Skibbereen Adult Education Centre and Kinsale Further Education College are doing an excellent job but the problem is that we sometimes do not come up with the numbers. We have a situation whereby those who are doing the health level 5 higher education course are trying to move on to level 6. The numbers are not there and they are told to go to Cork city as a result. We have a situation with someone, maybe from Ardgroom or Castletownbere, who has to travel 130 km each day. That is not feasible. Someone from Mizen Head has to travel 125 km each day.”
“As my colleagues mentioned, 14-year-old Cara Darmody is coming to sleep outside the Dáil next week for 50 hours to raise awareness not only for her own family, but for other families throughout this country. We need to put together a joint motion and we need to time to discuss this matter at great length next week because we are breaking the laws in this country, the laws we said we would stand by. It is taking a 14-year-old girl to show us that situation, so I fully support previous speakers on this matter.”
“This is an astonishing situation that the Department should be covering and be looking after, and it is not doing so. We will not support the motion. We will certainly oppose it all the way.”
“For example, in Dublin recently a school was almost faced with closure. This is happening the length and breadth of the country. I can only talk on behalf of the school where I was chairperson of the board of management. When we were stuck and the Department failed to step in it was the church that stepped in to look after the children's needs and the school's needs. The church stepped in there. That is an incredible situation that nobody wants to acknowledge. Good God we would be afraid to acknowledge that in case we would upset the minority up there. The whole point is that the church is very strong and in some cases it has actually pulled out a cheque for the local parish priest to keep the electricity going in the schools.”
“I never once as chairperson of a board of management in any way shape or form, nor did the principals, ever pick on them and I believe that Deputies here have insulted quite a lot of principals and their teaching in Catholic schools. We have been as fair to children who came in whether they had a religion or did not have religion. They were treated with the respect they should have been treated with. The way some Deputies have spoken in here, mother of God, one would think that the students are getting an awful time altogether in these Catholic schools. They are not. Stop. Stop this nonsense for God's sake. A total of 93% of schools in this country have a religious patronage. I feel that this motion should not be able to attack the religious. It should be attacking the Department for not funding schools properly.”
“This financial backing ensures that the schools can offer high-quality education while keeping tuition fees affordable for families. In a diverse society it is crucial to offer parents and students a variety of educational options. Religious schools provide an important choice for families who wish to have their children educated in an environment that aligns with their values and beliefs. Removing this choice would not only limit education diversity but also infringe on the rights of parents to decide the best education path for their children. I talk with experience on many fronts and with a clear understanding. I spent 20 years on a board of management in a Catholic school. I am not ashamed of that and in fact I am very proud of that. I spent ten years as the chairperson of that school board.”
“They often achieve outstanding results, not just because of rigorous curricula but also due to the dedication of teachers who view their work as a vocation. This commitment to excellence benefits all students regardless of their religious backgrounds. Religious education focuses on development of the whole person's mind, body and spirit. This holistic approach nurtures students in a way that prepares them for all aspects of life. It encourages them to be thoughtful, reflective and compassionate individuals who contribute positively to society. Religious institutions often provide significant financial support to their schools. This can include subsidies, fundraising and donations that help to maintain and improve schools' facilities and programmes.”
“Catholic schools and other religious institutions provide an education grounded in strong moral and ethical values. These values, such as respect, compassion, integrity and service to others, are not just taught but woven into the very fabric of the school environment. They help to shape well-rounded individuals who are not only academically proficient, but also morally grounded and socially responsible. Religious schools foster a strong sense of community and belonging for many families. These schools are more than just educational institutions. They are an integral part of their communities' cultural identity. The shared values and traditions create a supportive environment where students and family feel connected and engaged. Many religious schools are known for their high academic standards and commitment to educational excellence.”
“The Social Democrats have tabled a motion in the Dáil that calls for the Government to increase the number of multidenominational schools and to phase out religious patronage in special education. I have listened carefully today to all the reasons we should remove church patronage. There are also those of us who oppose these statements and who argue that religious institutions play a significant role in the community and that their influence should be preserved. Along with many others, I worry that phasing out religious patronage could disrupt existing school structures and community ties. Independent Ireland will stand firmly against this motion and I urge the Minister to consider the numerous benefits religious patronage brings to our schools and communities.”
“They need supports at this time because the VAT rate is still at 13.5%, although it was promised that it might drop back down to 9%. They need an assurance that is going to happen. That will help in that area. It is a huge issue that needs to be addressed.”
“The whole point I am making is that, yes, this is very welcome, but I am afraid that, unfortunately, local authorities are taking advantage of this and seeing an opportunity to squeeze more money out of businesses that are already squeezed to within an inch of their lives. I was in west Cork last weekend at a fantastic fundraiser in The Fish Basket in Long Strand and there were maybe thousands of people there. Fantastic food was laid out there and in other outdoor businesses in Ballydehob, Bantry, Bandon, Clonakilty and Kinsale but they certainly are feeling the pinch. I know that and while it is greatly welcome to have this extension on seating areas outside, legislation needs to be put in place to protect businesses so that they are not being fleeced by having seating outside their door. We must support them.”
“I know that, and I respect that, but I am only talking about the importance of having it there. The fact is that they now have it, but they are being punished for having it there by being rated. It is difficult for these business. In a few months, they are trying to turn over a profit and make enough to keep staff on board. These businesses are paying for rates, electricity, staff, VAT, PRSI, PAYE, telephones, Internet, purchase of stock, refuse, upkeep of buildings, maybe rent or a mortgage, and then they also have the Food Safety Authority of Ireland, and rightly so, keeping a very close eye and making sure they have everything right across the board.”
“It emphasises the need for greater support for hospitality apprenticeships to ensure skilled workers and a five-year strategy for developing a comprehensive strategy to boost food and drink tourism in Ireland. These proposals aim to address the financial challenges facing the industry and ensure its long-term sustainability. While we are talking about seating outside businesses, I fully support this legislation going through but I have serious concerns that businesses are being rated for having seating and tables outside, mainly for the few months of the summer season. This is another kick in the teeth for businesses that are struggling at this present time. Business owners in my community have told me that they are being rated. These businesses we are talking about are paying rates already, electricity-----”
“It recently highlighted that 150 restaurants closed in the first quarter of 2025 due to soaring business costs. The RAI warns that more closures could follow if these financial pressures continue. The association is actively lobbying for changes in regulation and legislation to support the industry. It emphasises the need for Government action to prioritise tourism and hospitality, which are vital to the economy. The association has put forward several key proposals to support the restaurant industry. Some of these proposals include decoupling VAT rates, separating the VAT rate for food services from accommodation and advocating for a reduced VAT rate for a food service while maintaining the current rate for accommodation.”
“This discussion is centred on extending certain provisions of the Civil Law (Miscellaneous Provisions) Act. This extension aims to allow the hospitality sector to continue providing outdoor seating areas for the sale and consumption of alcohol. Independent Ireland and I are in full agreement with this extension. This is crucial for offering clarity and certainty to business, patrons, local authorities and An Garda Síochána. As a politician, business owners speak to me on a daily basis about the costs of doing business in Ireland. They constantly ask me when the VAT rate will be reduced to make it somewhat easier to keep their doors open. The Restaurants Association of Ireland, RAI, expressed significant concerns about the current state of the restaurant industry.”
“This is not an internal nursing home compliance issue. Simply put, it is a paperwork issue that needs to be resolved immediately.”
“It cannot operate to its full potential as it seems HIQA has a difficulty with it being in receivership, even though negotiations with potential buyers are at an advanced stage. HIQA will not allow the admission of new clients. The nursing home has 18 empty beds and there are seven clients in Bantry General Hospital who wish to avail of these beds. Doing so would make seven acute beds available to Bantry General Hospital. Nine clients originally from the Bantry area are in other nursing homes in counties Cork and Kerry and want to move back to the Bantry area to be close to their families. Can the Tánaiste ensure this situation is rectified speedily so the nursing home can operate to its full potential and beds are made available in the acute hospital that can be utilised for those currently waiting on trolleys?”
“I start by thanking Deputy Micheál Carrigy for bringing students from Scoil Samhthann in Ballinalee in County Longford to the Public Gallery here today. Many of them are there behind me, including my own cousin, who has very strong connections with west Cork. Aisling Hennessy is here with her fellow students and teachers. They are most welcome. The private nursing home sector provides an invaluable service to the State with the provision of long-term, short-stay and convalescent beds to the older people in our society. We have a situation at the Aperee nursing home, formerly the Deerpark nursing home, in Bantry where a local private nursing home has gone into receivership.”
“They came here because the parents supported them and understood the crisis they were facing, but the Government ignored them for many years. I plead with the Minister of State to turn that around immediately.”
“Why did the Government put a promise in place in the run-up to the general election? It looks to me like another promise that, as of yet, has not been delivered upon. Maybe the Minister of State has something to announce today which will change that. If so, I will certainly be the first to welcome it. Some of these childcare professionals are on the verge of going out of business. Some of them are chased to within an inch of their lives with accountability, checks, governance and everything they have to do. It is almost impossible for them to keep going. The previous Government ignored them. There is no doubt about that, otherwise they would not have been up here protesting. Every one of them used to say when they came to Dublin that they did not want to be here. The parents followed them.”
“They often find it challenging to balance quality care with affordability. The Government has proposed plans to drastically reduce childcare costs to €200 per month, which would significantly ease the financial burden on families. When will this happen or is it just another broken election promise? I have met with childcare professionals who provide this service on numerous occasions, especially during the lifetime of the previous Government. These are top-class providers, as we all know, but they have had to come up to Dublin, stand outside the Dáil in protest and beg for their very survival. They were ignored by the previous Government, month after month and year after year. These are the forgotten people, but they provide an excellent service on the ground, whether in west Cork or any other part of the country.”
“The demand is so great that one would be forgiven for presuming the service is free, but the eye-wateringly expensive fees per child often surpass what the average Irish person pays for a mortgage. It is a broken system in need of a complete rebuild. High-quality childcare is crucial for cognitive development. Children in well-structured, stimulating environments tend to perform better academically and develop stronger language and cognitive skills. Conversely, limited access to quality care can hinder these developmental milestones. Children who attend high-quality early childcare are better prepared for school, both academically and socially. This readiness can lead to better long term educational outcomes. Many providers are struggling with financial viability due to high operating costs and insufficient funding.”
“The everyday cost of living combined with childcare expenses mean parents are constantly struggling to pay either their mortgage or their childcare bill. A shortage of childcare places is leading to long waiting lists. Many parents struggle to secure a place for their child, sometimes having to wait until their child is too old for early years care. How is it that a service so crucial to most Irish people's lives is still so greatly unsupported? There has been a mass exodus of staff from the sector, with no apparent incentive for new recruits to replace those who have left. Waiting lists are so long that children on them will have outgrown the need for early years care by the time they reach the top.”
“Although our manifesto does not detail this specifically, it includes commitments to support front-line workers, like teachers and healthcare staff, suggesting a general alignment with improving public sector conditions, which could be extended to early childcare providers. Additionally, the motion calls for State-led facilities and capital investment in childcare. Our manifesto supports increased funding for early childcare services, showing openness to public investment in the sector. Parents already have enough to manage, from getting to work every day with rising fuel costs, including the recent carbon tax, to paying mortgages. Sometimes, the cost of childcare is nearly as high as the mortgage itself.”
“One of the main issues affecting countless families is childcare. The Dáil recognises the significant challenges many parents face in affording and finding suitable childcare. The shortage of childcare places has left many children on waiting lists. The high costs, sometimes exceeding €1,000 per month, place an immense additional financial burden on families. We must acknowledge that childcare workers are not paid enough and do not receive fair working conditions. Independent Ireland finds areas of compatibility between the motion and our manifesto. Both highlight the unaffordable childcare costs, which sometime exceed €1,000 per month, and pledge to reduce these costs while providing early learning supports for providers. The motion notes the poor pay and conditions for early years educators.”
“This situation underscores the need for more rigorous and transparent investigations in the future. Ensuring that such reports provide comprehensive and conclusive findings is crucial for the delivery of justice and to prevent similar cases occurring. The report also highlights the importance of continuous oversight and accountability within our social care system to protect vulnerable individuals effectively. More needs to be done to ensure that such investigations lead to meaningful outcomes and reforms. It is essential for policymakers and stakeholders to take these findings seriously, to work towards improving the systems in place and to safeguard those in care.”
“The fact that it did not find conclusive evidence of sexual or emotional abuse, despite the prolonged period of neglect and the serious allegations is troubling. It is important to acknowledge that the report's findings, or lack thereof, can feel disappointing or inadequate, in particular when we consider the €13.6 million spent on it and the eight years it took to complete. The absence of definitive answers about the abuse Grace may have suffered leaves many feeling that justice has not fully been served. Neglect itself is a form of emotional abuse, and the environment Grace was in, with suggestions of sexual abuse, certainly raises concerns about her overall well-being during those years. The report's inability to provide clear conclusions on these matters can seem like a significant oversight.”
“The Farrelly commission report has shed light on significant shortcomings within our social care systems. It has sparked a necessary conversation about the need for greater oversight, accountability and transparency. As we move forward, it is essential to learn from these findings and to work collectively towards creating a safer and more supportive environment for all vulnerable individuals. The report's impacts will hopefully lead to meaningful reform that will ensure the protection and well-being of those in care, preventing such tragedies from occurring in the future. The Farrelly commission report raises many questions, especially given the significant time and financial resources invested in it.”
“In today's context, the Farrelly commission report is a stark reminder of the systematic flaws that still exist within our social care frameworks. It calls for immediate action to ensure that such failures are not repeated. The report's revelations have prompted calls for reforms to enhance the protection and care of vulnerable individuals, ensuring they receive the support they need. Moreover, the report's findings resonate with the ongoing discussions about the importance of safeguarding vulnerable people. As we navigate through these challenges, it is crucial to prioritise the well-being of those in care and to implement robust measures to prevent abuse and neglect. The Farrelly commission report serves as a catalyst for change, urging policymakers and stakeholders to take decisive action to address these critical issues.”
“The recent Farrelly commission report on the Grace foster home abuse case has resulted in much public debate and concern. This investigation took almost ten years and cost about €13.6 million. It found evidence of financial abuse and a serious lack of oversight by the South-Eastern Health Board and the HSE. However, the report did not find clear evidence of physical or sexual abuse, nor did it hold several officials accountable who were supposed to be overseeing Grace's care. This report is important because it shows ongoing problems in our social care system. The findings highlight the urgent need for better oversight and accountability to protect vulnerable individuals. The public's reaction to the report shows a broader demand for transparency and justice in handling cases of abuse and neglect.”
“THREE of these were Irish; - 30% - - - the percentage of Irish whitefish vessels that were voluntarily decommissioned to allow the remaining Irish vessels to have enough quota to survive... after which the EU proceeded to then reduce the Irish quotas once again; - 17 - - - the number of hours in total (several different tows) that it took one Killybegs’ pelagic trawler this month to fill his minuscule mackerel quota for the entire year; - 9 - - - the number of weeks (January 1st to March 3rd) that it took one particular Irish pelagic trawler to fulfil his total EU allocated quota of mackerel, scad, blue whiting and boarfish - - - and this nine week period includes time tied up unloading catches or tied ashore due to bad weather - - - the total number of working days at sea was in fact 35 before the vessel had to finish its operations for the rest of 2025.”
“It states: - 60,000 - the volume of blue whiting quota the Irish pelagic fleet is allowed annually by the EU out of the 1.7 million tonnes taken out of Irish and international waters West of Ireland by EU and non EU vessels every year; - 8,000 - - - due to ever-reducing EU quotas allocated to Ireland every year, 8,000 is the number of ‘working hours’ clocked up on the engine of an average 10-year-old Irish pelagic vessel - - approximately one quarter of that recorded on pelagic vessels from other EU and non EU nations who have quotas in Irish waters; - 280 - - - the average number of working days at sea per annum that the pelagic fleet of EU Member State Denmark [which has a fleet of a similar size to Ireland’s] need to catch their large quotas whilst Ireland, equally an EU Member State, have quotas so small that the average number of days at sea for an Irish pelagic vessel is 40 or less; - 82% - - - reduction in profitability of Ireland’s whitefish (demersal) fleet (2024 statistics); - 68% - - - the amount of reduction in the EU-allocated mackerel quota that each vessel in the Irish pelagic fleet has suffered in the past eight years; - 58% - - - the fall in production in Irish pelagic processing factories over the past two years; - 57 - - - the number of EU and non EU vessels pelagic vessels recorded working in Irish waters one particular day last week ...”
“Europe, like Ireland, is a hugely different place from what it was in the 1970s. While we are here making statements on Europe Day, fishermen in this country would like a statement on what they have described as the "true picture of the alarming current state of the Irish fishing industry under EU 'management'".”
“For the past five weeks or so I have been looking for a debate on agriculture weeks relating to the ACRE payments. There are 9,000 farmers waiting for their payments in respect of 2023 and 2024. Some 2,000 have not received payments for 2023. We also have a crisis with tuberculosis, TB, which is costing farmers €150 million with the highest rates of TB since 2003, up 36%. We also need to debate water quality in relation to agriculture. The derogation has improved and we need a debate on this immediately, this week. The Chief Whip has-----”
“The Minister of State knows that and he has to deliver. He is the Minister of State now and I am putting my faith in him to deliver for these people but also for the people of Rosscarbery, Goleen, Ballydehob and Shannonvale. They have every right to have a proper wastewater treatment system in their communities and not have wastewater pouring into local community gardens where people have cordoned it off for the past 20 something years. It is outrageous. It is the same with light rail. We do not have light rail going to west Cork. We do not even have a sign from west Cork showing where rail is in Cork city.”
“The absence of light rail, trains and frequent bus services exacerbates our isolation and limits economic opportunities. This lack of infrastructure and transportation services hinders growth and quality of life. We must advocate for strategic investment to foster sustainable developments in west Cork. I am absolutely delighted Deputy Christopher O'Sullivan is here. As a newly appointed Minister of State, I hope that he will take on board what I am going to raise regarding infrastructure in Dunmanway. The fact is that people are not allowed to develop a house in a town as big as Dunmanway. That can is kicked down the road at every meeting we have. It is to go on to 2030 or 2032. We really do not know because Irish Water cannot give a clear deadline. The people in Dunmanway cannot wait until 2030 or 2032. We need delivery.”
“We are here today to discuss the final draft of the revised national planning framework, a crucial step towards Ireland's sustainable future. It is imperative that we address the acute infrastructure challenges in the areas of housing and transport. West Cork suffers from inadequate sewerage systems, particularly in areas like Dunmanway, Goleen, Shannonvale, Rosscarbery and Ballydehob. This makes even basic housing development impossible in some areas. The road conditions remain dire, with only €70.2 million allocated for maintenance in 2024. This is a slight decrease on the previous year and insufficient for the 12,000 km of road that need attention. Transportation is another critical issue. Despite the restoration of some bus routes in 2024, west Cork still lacks comprehensive public transport services.”
“I want to talk about those who are scam operators and who, as I said the last time I spoke to the Taoiseach three weeks ago, drive around in top of the range SUVs and are seen drinking champagne outside bars or on the side of the street, laughing at those who now cannot retire or who have retired and who have been robbed of their savings because these despicable people cannot be touched. It is time to hit the untouchables. They have ruined innocent people’s lives. It is time to have these people put behind bars. The only way this can be done is to have a full investigation into the Central Bank's procedures and weed out the reasons how these scam financial advisers were able to play nod-and-wink with the Central Bank and avoid any regulation.”
“Yes. I wrote to the Central Bank two weeks ago and I have heard nothing back since. There are legal cases being taken at the moment. The fraud squad is also involved. When I raised this question in the Dáil the last time, the fraud squad contacted people immediately afterwards. I sent the Taoiseach and the Minister for Finance two sample cases this morning. I respect that the Taoiseach needs to look at that in his own time. When I talk about financial advisers, I do not want to tar all of them with the one brush as most are honest in their dealings.”
“Will the Taoiseach work with me to get a meeting with the Governor of the Central Bank in order to get answers to the many questions that are out there about Central Bank-regulated advisers who have robbed millions of euro of people's savings?”
“Many people in my constituency and in many other constituencies face financial ruination having been let down by the Central Bank while the financial advisers, who they trusted and who they understood to be regulated the Central Bank, have run off with their money to another country under the guise of bankruptcy. The amounts for which constituents have been caught include €750,000, €500,000, €350,000, €52,000, €50,000 and much more. It is now obvious that regulation by the Central Bank does not exist. Does the Government have the power to launch an investigation into the workings of the Central Bank?”
“I reached out to the Central Bank seeking a meeting but to no avail. That led me to think whether this is a further cover up. The Central Bank is, in my view, equally culpable here. This raises a number of questions for the bank. What is the Central Bank doing in terms of regulation if financial advisers can fleece investors with impunity? How many audits of financial advisers does the Central Bank carry out each year? Will the Central Bank disclose details of these audits? Why are loan notes unregulated? Why does the Central Bank allow financial advisers to behave in this manner without sanction?”
“In the pharmaceutical industry, the European Medicines Agency regulates medicines for human use, ensuring their safety, quality and efficiency. In the financial services sector, regulation is the remit of the Central Bank but regulation of financial advisers appears to be practically non-existent, leaving the ordinary investor at the mercy of some unscrupulous individuals. How can a financial adviser take money from clients for investment in a company that is regulated by the Central Bank, provide loan notes which are not covered by the Central Bank, and put the company into receivership, while the client loses his or her money? That same adviser can then set up another company and start all over again, with no repercussions. Some advisers have done this 11 times already.”