Social Democrats propose a new anti-corruption agency

The Social Democrats party has proposed the establishment of an anti-corruption agency as part of a long-term response to the issues raised by the Commission of Investigation into the Irish Bank Resolution Corporation.

Taoiseach Enda Kenny last week wrote to all the political parties with a request to share their views on the best ways of overcoming the legal impasse outlined by Mr Justice Brian Cregan in his interim report.

The report outlined how the commission had insufficient powers to deal with documents that were considered by parties as confidential, or over which claims of privilege were made. He had also said the volume of work would require an extension of time in addition to a requirement for an extra judge.

Social Democrats TD Catherine Murphy said she has written to the Taoiseach with nine proposals for change.

Using parliamentary privilege in the Dáil, the Kildare North TD first disclosed that the Siteserv company had been sold to a company associated with businessman Denis O'Brien for a write-down of €119 million.

In the letter, Ms Murphy has said the commission should prioritise the investigation of the six biggest transactions involving write-downs over all others.

She said each transaction should comprise one module, with each meriting an individual interim report.

She said she favoured the reconstitution of Siteserv PLC, which is now in liquidation. She said the decision to dissolve the company after the announcement of the commission had “created an extra impediment to the proper function of the commission’s work”.

She said she supported Mr Justice Cregan’s recommendation that a second member was required. She said that the Attorney General’s advice to Government prior to the establishment of the Commission should also be published.

Ms Murphy also offers advice on how the terms “preferential treatment” for customers who have loans, and “capital loss” should be defined.