Howlin: Pass referendum and we’ll investigate banks

PUBLIC Expenditure Minister Brendan Howlin raised the prospect of a banking inquiry last night once Oireachtas members are empowered through an upcoming referendum.

It came as Environment Minister Phil Hogan attacked NAMA for failing to ensure a greater flow of social housing onto the market.

Mr Howlin’s comments came in response to a written appeal to politicians to break their silence on banking failures in order to prevent any mass public anger or social upheaval.

Dublin City University professor of communications Colum Kenny emailed the 166 TDs urging them to push for an inquiry into where bank loans had gone.

Mr Howlin last night told him the Government would proceed with an inquiry, if TDs and senators get greater powers through the “Abbeylara” referendum on October 27.

The minister told Prof Kenny: “I strongly believe that, should the people pass the referendum, this current Dáil and Seanad will be in a position to carry out the type of detailed scrutiny that your challenge implies. I believe it is extremely important that questions such as those which you pose are answered in a public forum in a robust, cost efficient and democratic manner.”

Meanwhile, Mr Hogan said NAMA did not seem to be making a concerted effort to balance supply to meet market demands but to also meet obligations under the social housing waiting list.