LABOUR PARTY leader Eamon Gilmore yesterday claimed that the Government does not enjoy popular public support for its controversial plans to establish the National Asset Management Agency (Nama).
Mr Gilmore said public opposition to Nama was “growing by the day”, and again urged the Government to adopt his party’s alternative proposal to temporarily nationalise the banks.
The intervention by the Labour Party leader came as Green Party chairman Dan Boyle said on Sunday that his party’s support for Nama was not a given.
He said the Green Party leadership would have to respect the views and decisions of its membership at the two meetings it will convene on the legislation, in September and in October.
A number of prominent members of the party have been critical of the legislation. The latest, Dublin Central Green candidate Gary Fitzgerald, told RTÉ yesterday that nationalisation had to be part of the Nama process.
Minister for Finance Brian Lenihan will brief his ministerial colleagues at tomorrow’s Cabinet meeting, the first after the summer break.
Mr Lenihan and Taoiseach Brian Cowen are also expected to spearhead a high-profile Government campaign to defend the legislation in anticipation of more vocal criticism of the agency from the Opposition and commentators.
This will involve an intensive round of media interviews and briefings over the next fortnight in the run-up to the special debate on the Nama legislation. The Dáil has been recalled early for the debate which begins on September 16th.
In a statement yesterday, Mr Gilmore said that with the level of public opposition and many economists continuing to voice concern, the Government needed to look again at proposals made by his party.
“I have rarely seen such strong opposition from the public to any proposition from a government and I believe that every other TD in the Dáil is experiencing a similar response from concerned constituents.
“I believe that there is overwhelming public opposition to the Nama plan,” he said.
Mr Gilmore honed in on Mr Lenihan’s acceptance that the Government may have to take the banks into public ownership eventually.
“Surely it would be prudent to take this action now, rather than taking a huge gamble with taxpayers’ money on Nama.”
Fianna Fáil TD for Tipperary North Mattie McGrath also said yesterday that he had been contacted by many constituents about Nama and had “worries” about the agency that needed to be allayed by Mr Lenihan.
“The main issue I have is will it work? And what exposure is the taxpayer going to face? I have many people contacting me about this.
“At this point of time, the banks are not giving a shilling out to anybody in loans,” Mr McGrath told The Irish Times.
Mr Boyle, who is the Greens’ finance spokesman, said that Nama was “difficult” for many Green supporters as it ran contrary to his party’s philosophical outlook.
“Given the scale of what’s being proposed, the likely cost, the potential risk, I don’t think anyone in the country is going to be worried about a matter of additional weeks or a month or two in making sure we get this legislation right,” Mr Boyle told RTÉ.
Both main opposition parties, Fine Gael and the Labour Party, have voiced concern about the Nama proposal.
Fine Gael leader Enda Kenny said last week that his party would vote against the measure in the Dáil.
While Labour will not formally announce its position on the legislation until the parliamentary party meets in Waterford on September 9th and 10th, the vote to oppose the Bill is expected to be a formality.