The Finance Bill, there is no alternative

Even in the absence of a functioning government the Irish Times continues to campaign relentlessly for passage of the Finance Bill, a move that will seal “the abnegation of our economic sovereignty“.

Both the parties and media pundits realise that if the bill is not passed before the Dáil is dissolved it will be rejected by the public in the election.

“Today’s controversy will surround the enactment of the Finance Bill. Minister for Finance Brian Lenihan claims that it would be logistically impossible for him to get the Bill through the Dáil by Friday. The normal timetable for the passage of the Bill would be the end of March. The main Opposition parties, now including the Greens, want it done by Friday so that the election can be called. It is worth remembering that this is no normal Finance Bill. Rather, it is the domestic requirement to satisfy the terms of the bailout by the International Monetary Fund and the European Union. There is little wriggle room in this Bill for any party, including Sinn Féin. All of the hours of debate in the world won’t turn back the clock on our loss of sovereignty.” [A time for reckoning, 24/1/11]

“The Green Party will now be on the Opposition benches along with Fine Gael, the Labour Party, Sinn Féin and a number of Independents. The challenge facing all of them is to find a way of ensuring that the Finance Bill is passed over the next week or so, despite the absence of a government. All agree with Fianna Fáil that the Bill should become law before the general election begins. The problem is that there is a serious difference of opinion between Fianna Fáil and the rest as to whether it can be done.” [Drama far from over as FF seeks to pass Finance Bill, 24/1/11]

AT ANY other time, the publication of the Government’s Finance Bill might be expected to generate much discussion and debate but the current political turmoil dominates the media to such an extent that the Bill published yesterday is little more than a sideshow. However, the Finance Bill, which will put into legislation the measures announced in last month’s Budget, is the only reason the Government is still in existence. If there is one major item that Fianna Fáil and the Green Party are still in agreement on, it is that the Finance Bill must be passed by the 30th Dáil. Most of the significant measures in the Bill are necessary to fulfil the terms of the bailout that the Government negotiated with the European Union and the International Monetary Fund. This State no longer has sovereignty over its fiscal policy and it will not reclaim it until many years have passed and many billions of euro have been repaid.” [Bill is tough but necessary, 22/1/11]

“The Green Party is standing by its commitment to remain in Government until the Finance Bill has been passed. It hopes that climate change and other legislation can also be secured. Spurred on by the farming and business lobbies, Fianna Fáil backbenchers are preparing to revolt over carbon control legislation and in the circumstances, Mr Cowen is unlikely to upset them any further. Political observers have suggested that Mr Gormley would have improved the party’s chances of avoiding annihilation in the election had he left Government, offering to support the Finance Bill from the Opposition benches.” [What a difference a day makes, 21/1/11]

“Passage of the Finance Bill will bring the 30th Dáil to an end. That legislation is due to be introduced next week. While the Opposition parties have offered to facilitate its speedy passage, Mr Cowen is sticking with traditional timing, much as he did in rejecting EU pressure to introduce an early Budget. The upshot is likely to be a late February/early March completion date. In the meantime – and in spite of grumbles of “jobs for the boys” from the Green Party – the Taoiseach is likely to refresh his Cabinet by replacing Mr Martin, Mary Harney, Dermot Ahern and perhaps others who have announced their retirement.” [Deckchairs on the Titanic, 20/1/11]

“The Opposition parties should guillotine the passage of the Finance Bill and bring on the election.” [They are where they are now, 19/1/11]

“As political events unfold, it might be in the national interest for Fine Gael and Labour to agree that they would guillotine the Finance Bill through the Dáil and Seanad – if their primary aim is to have a general election as soon as possible.” [Fianna Fáil convulsions, 17/1/11]

“This amounts to an unwillingness to face the electorate. Only one piece of legislation is required before the Dáil is dissolved and that is the Finance Bill. It could be enacted quickly if the political will exists.” [Edging towards a general election, 8/1/11]

“THE NEED for a general election at the earliest possible opportunity has increased, rather than diminished, in the aftermath of the Budget. There should be no question of a long, drawn-out debate on the Finance Bill in the New Year or waiting until special legislation on climate change or corporate donations has been adopted. The sooner the electorate is given an opportunity to shape the political future of this State, the better. We are at debt’s door and it is simply not good enough to revert to party politics.” [Election required as soon as possible, 10/12/10]

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