Ms Sile de Valera was urged to take a Haughey-like initiative on the development of the Ulster Canal. The call came from Mr Paschal Mooney (FF), who was responding to the Minister's announcement that the results of a feasibility study on the possible reopening of the canal - providing a link between Lough Erne and Lough Neagh - were expected to be available in a few months time.
Restoration of the canal would complete the last major link in the connected waterways network on this island and would allow boats to navigate from the Waterford estuary in the south-east to Coleraine on the River Bann, the Minister said in the second stage debate of the Minister for Arts, Heritage, Gaeltacht and the Islands (Powers and Functions) Bill 1997.
The Bill, which was passed, clarifies and extends the Minister's functions in relation to inland waterways and ferry services to offshore islands. Mr Mooney said there was a tremendous groundswell of support on both sides of the Border for developing the Ulster Canal, but it would, like the Shannon-Erne development of some years ago, need to be promoted by the two governments.
Concerns had been voiced about the likely cost of the Shannon-Erne development, but that project had ultimately been undertaken largely due to the initiative of the then Taoiseach, Mr Charles J Haughey.
Irrespective of whatever anyone might think of him in his current travails, the House should know that those who had benefited from that development would be forever grateful to his administration. Ms de Valera should grasp the current opportunity if finance was the only obstacle that had to be tackled. Responding to the debate, Ms de Valera cautioned that there was a need to await the findings of the expert study group. Costs, unfortunately, in this day and age had to play a very important part not only in this kind of proposal but in every facet of every department.
"We cannot ignore the constraints that finance, unfortunately, puts on creative decisions," the Minister added.
CALLING for an urgent investigation of the way the Central Bank investigates banks operating in this country, Mr Paddy Burke (FG) said it seemed that the bank had a vested interest in the banking circles.
It had transpired that it had investigated the National Irish Bank and had found nothing wrong, Mr Burke said. The Leader of the House, Mr Donie Cassidy, responded that the Governor of the Central Bank, Mr Maurice O'Connell, would be attending today's session of the Oireachtas Finance and Public Service Committee, and Mr Burke could seek to get a reaction to his views. Earlier, Mr Pat Gallagher (Lab) said that while he welcomed the belated appointment of the review group to examine the laws relating to financial institutions, its membership and terms of reference were not sufficient to deal with the scale of the problem or to restore public confidence in the banking system.
It was imperative that the Seanad be given a chance to suggest improvements, Mr Gallagher contended