His proposal would, he said, save around 3bn euro. Mr Kenny also called for cross-party support for a parliamentary inquiry into the banking crisis. He said Fine Gael would later this month table a private members motion, calling for an all-party Oireachtas inquiry. This would aim to find out why the regulatory system failed, he said.

 

Mr Kenny proposed that Fine Gael TD Michael Noonan should chair the inquiry. "We have to ensure that the kind of crisis that crippled our banking system and economy can never happen again and that those in positions of authority in the lead into the crisis are held to account," he told RTE's This Week programme.

 

"That is why I support the call from Patrick Honohan, Governor of the Central Bank, for an inquiry into how the banking crisis came about. "If we are to restore confidence in our banking system such an inquiry is an absolute necessity. In that regard I would invite support from all parties for an inquiry. "I believe that this inquiry can be established speedily and report quickly into the political and regularity failings that occurred in the banking system."