As there are no amendments on Report Stage, we must proceed to Fifth Stage in accordance with the Order of the Dáil today.
Euro Changeover (Amounts) Bill, 2001: Report and Final Stages.
Question proposed: "That the Bill do now pass."
There is genuine cause for concern that even since we passed this Bill on Second Stage a couple of weeks ago, surveys continue to show that the state of preparedness of Irish business and of the banking institutions is not what it should be and that we are lagging behind other countries in terms of our state of preparedness for the introduction of the euro. I understand this is the last legislation that is required to allow for the euro to come into circulation at the end of this year. It is vitally important that the Euro Changeover Board is given all the support it clearly requires to get it across to Irish people that the euro is happening and that, more importantly, the punt is about to cease to exist as legal tender.
I urge the Minister, in conjunction with his colleague, the Tánaiste and Minister for Enterprise, Trade and Employment, to take whatever additional powers may be necessary to ensure that there is not widespread abuse of the changeover for profiteering purposes at the start of next year because I fear, even with the best will in the world, there will be abuse and the legislation we have in place at the moment is not sufficient to allow us to prevent that from happening. We support this Bill. It is an historic shift in our currency which was only independent for 22 years. As I said, this is the last legislation required to signal the change. It will be an interesting and exciting time at the start of next year but, nonetheless, a time to be very vigilant.
I agree with Deputy McDowell. During the earlier Stages of the Bill, my party spokesperson, Deputy Jim Mitchell, gave his full support to the proposals. What Deputy McDowell has said about the need for continuing vigilance is important. With only a few months to go to the official changeover, I am surprised the level of public awareness, knowledge and the discussion about what will be a major event, in a sense, in the lives of people has not appeared to reach any great heights. Admittedly, the advertising campaigns appear to be relatively effective but over the next few months, our efforts must be redoubled to ensure public awareness is at the level it should be and, as Deputy McDowell said, to ensure there is no abuse during the time of the changeover. On behalf of my colleague and party spokesperson, Deputy Jim Mitchell, I wish the Minister well as he brings this important Bill to conclusion.
I will certainly bear in mind what the Deputies have said. I alluded to this on Second Stage and in reply to parliamentary questions. The Euro Changeover Board of Ireland is a very representative body and is very active in a number of areas. There will continue to be increased advertising and awareness campaigns over the coming months. I note what Deputy McDowell said in regard to businesses being aware of what is going to happen. Forfás has had a very active campaign but I am sure that, as with many things in life, many people will leave things to the last minute. Increasingly, people in the run up to 1 January will be made more aware. The Government is very conscious of the possibility of abuses that will occur on 1 January at the changeover of the currency. Those who are old enough will think back to what happened when decimalisation came along in the early 1970s. We will bear that in mind also.
I thank the House for allocating time for consideration of this Bill and the Deputies for their support for it and their contributions on Second and Committee Stages. The Euro Changeover (Amounts) Bill, 2001, is a short and technical Bill. Its main aim is to provide, where necessary, for the replacement of Irish pound amounts in law with convenient amounts in euro to apply from 1 January 2002. Taken together with other similar measures, such as those in the Finance and Social Welfare Acts, the Bill will broadly complete what might be called the euro price list for the more common transactions between the citizen and that State. It embodies an important principle of favouring the citizen where change to convenient amounts is necessary. It represents an important further step in our practical preparations for the introduction of euro notes and coins next January.
Question put and agreed to.