LABOUR FINANCE spokeswoman Joan Burton called for the extension of the Ombudsman’s powers to cover financial matters.

She was speaking during a debate on a Dáil motion, which was passed, appointing Emily O’Reilly to a second term as ombudsman.

Ms Burton said that when legislation was completed, the ombudsman’s powers would be extended to vocational educational bodies.

“However, it is very bad that her powers do not extend to the financial area,” she added.

“We have a system of financial regulation in this country involving the Financial Regulator, the Central Bank, the NTMA, the National Development Finance Agency and the National Pensions Reserve Fund, and all of them are pretty much exempt from the freedom of information legislation and the information commissioner.”

Ms Burton said that tens of thousands of people, pensioners and ordinary people, had invested relatively small to medium and large sums of money in the banks.

“They have no recourse to freedom of information and the best tribute the Minister could pay to the ombudsman would be to extend her remit to those areas,” she added.

Fine Gael spokesman Richard Bruton said the issue of holding power to account was one about which society must think long and hard.

“Today, we are seeing the fallout from the failure to hold to account power in the church and the appalling impact that has had on people’s lives,” he added.

Sinn Féin’s Arthur Morgan said it was a pity that Ms O’Reilly’s views and recommendations had not been taken on board by the Government.

Minister for Finance Brian Lenihan said her office had won the respect of citizens and public servants alike. She had been a strong and relentless advocate in articulating the importance of openness and transparency in government, he added.