This Evening the House of Commons will be debating the Loans to Ireland Bill which will allow the United Kingdom to give a loan of £3,250 million to Ireland.
The plan is that the bill will finish off all stages today. It will pass the Committee stage in the whole House.
Already today the issue has been raised four times in the House of Commons. The first time by Mark Reckless, MP for Rochester and Strood, during Northern Ireland Questions, in relation to assets held by NAMA in Northern Ireland and suggested that maybe some of these assets could be used as collateral in the loan. The second time was in relation to the effect of the economy in the Republic on the North. Northern Ireland Minister, Hugo Swire MP for East Devon, said that it was important that the UK was seen as part of the solution for Ireland and not the problem.
During Prime Ministers Questions, Mark Reckless MP, again, raised the issue of the loan to Ireland and suggested that the UK does not follow the wishes of the German Finance Minister. David Cameron in his response agreed with Mark Reckless and said that he was glad that the UK could come to Ireland’s aid.
I will be watching the debate on the bill and it will be interesting to see some of the remarks that are made.