The tribunal will be established under the Tribunal of Inquiry (Evidence) Act, under which it will be vested with all the powers, rights and privileges of the High Court, or of a judge of the High Court, in respect of the enforcing of the attendance of witnesses, the compelling of the production of documents, and so forth. It is considered desirable that the tribunal which is to inquire into the matters set out in the motion should have these powers. That is why the motion is being submitted to the House. I do not think that it is desirable I should speak at any length now on the question of transport, except to show that the matters mentioned in the motion are definitely matters of urgent public importance.
I have received representations from the railway companies operating here —the Great Southern Railways Company and the Great Northern Railway Company—that they have reached positions of acute financial stringency in which Government action for their assistance is urgently necessary if they are to carry on satisfactorily. Both companies estimate that the net income of their undertakings for the present year will fall short of the amount required to pay interest on their debentures. They have represented that their liquid assets are exhausted except for the amounts hypothecated to secure loans in recent years to meet capital expenditure, and that their position in the matter of cash resources to carry on the day-to-day working is precarious. Money is also required for the purpose of capital expenditure. The Great Southern Railways Company have mentioned a very substantial amount as being necessary to enable them to undertake the capital expenditure involved in closing uneconomic sections of their railway line and developing road transport. I think it is clear that the companies, under present circumstances, could not possibly hope to raise that capital in the ordinary way.
In these circumstances, the Government have decided that the time has come when major decisions on transport policy are necessary. It is considered desirable that before these decisions are made there should be a review of the situation by such a tribunal as we now propose to establish and that the decisions ultimately made should be based upon the information obtained as a result of such a review as well as of such recommendations as members of the tribunal may decide to submit. It is not possible, as yet, to give any intimation as to the personnel of the proposed tribunal except to say that it will consist of persons who are in a position to approach the consideration of the transport problem with unbiased minds. I do not think that we require a review by transport experts. I think that we require a review by people who can view the whole transport situation as it is and make recommendations as to the steps necessary to put it upon a basis which will enable public needs to be adequately served. I contemplate that the tribunal should do its work expeditiously and that we should have its report for consideration and subsequent action, if considered necessary, by the time the Dáil reassembles in February next.
