I am very dissapointed to read today that the department of finance have lost files that may be crucial to the banking inquiry. http://www.rte.ie/.../497114-department-of-finance.../ It is even more disturbing to read that rigid document management processes were not in place within this government department. This brings the compentency and professionalism of all departments into question. Given the high profile of the department of finance why were strict data management controls either not in place or not adhered to? Are data mangement controls not audtied yearly, if so did no auditors report highlight gaps in the controls or instances where they were not followed? As part of the project mentioned in the RTE article "project which would ensure the completeness and integrity of its records from the time of the bank guarantee." are audit procedures going to be reviewed?
When we are as a country trying our best to create jobs, attract investment and restore our international reputation it is frankly embarrassing when a high profile government department cannot maintain a filing system and reflects very poorly on this country as a whole and its Government.
I was wondering if your party would hold a position on whether TD's salaries should be index linked to Government revenue i.e. if gov revenue was to increase it would lead to an increase in TD's salaries however if gov revenue fell then salaries would fall too. This could be linked to a specific revenue source e.g. income tax receipts.
This would help avoid any grand standing on the level of TD's salaries and also avoid it being used as a political football, as good returns would see rewards and poor returns would see a fall on pay.
I would be interested to know what you think
Question from Jason O'Connor Thu, 18/10/2012 - 17:02
The primary reason given to justify bailing out the banks was that, if the banks were to close, no-one would be able to access their money, ATMs would cease to work, people would not get paid etc etc.
In other words, the flow of money would stop. Would it not then make sense for the state to take control of the flow of money, in order for the citizens to be able to access their money if (and likely when) banks fail in the future?
For example, Eirgrid controls the electric networks , and Bord Gais Networks does the same for the gas, allowing for 3rd party providers to use the distribution networks which are under control of the state. The same can be done regarding our money.
The idea is that the state would simply provide a current account for its citizens, and savings and loans services would be provided by 3rd parties. The means to do this already exists in An Post, where in the past there was the Post Bank service, and now it provides services on behalf of AIB.
If this was in place, 3rd party lenders/saving institutions could fail, yet the all-important flow of money would be safe-guarded, thus leaving Ireland able to carry on, and not crippled by debt from bailing out banks.
Is this something you would be interested in seeing implemented? If not, why not?