Dáil debates

Thursday, 13 May 2010

10:30 am

Photo of Mary CoughlanMary Coughlan (Donegal South West, Fianna Fail)

It is intended to deal with the legislation on Tuesday and Wednesday next week. It is our intention to allocate adequate time for discussion on the bilateral loans and the conditions attached. The Whips will agree the requisite timeframe to allow that discussion to take place.

With regard to Irish Nationwide Building Society, the chairman of the society indicated yesterday that the society's capital position is comfortable. He also indicated that the transfer of assets to the National Asset Management Agency, NAMA, is proceeding but it was not possible at the time to forecast the discounts to be applied as this was to be done on a loan by loan basis. However, a capital need is not seen to arise at present. The society is preparing a restructuring plan for the future which will be submitted to the European Commission in June. The society will examine different options and take on board the Commission's guidance in that regard.

On the issue of teachers, an allocation was made by my predecessor in the context of last year's budget to allow for the appointment of 930 teachers and there are adequate resources within the Department's budget at present to appoint those teachers on the basis of the agreed programme for Government and on the basis the need for the demographics to be addressed. There is no need to look for additional savings in this year's budget. That money has been allocated.

On the issue of Quinn, as Deputy Kenny will be aware, Mr. Dan Flinter has been appointed to deal with the issues in a co-ordinated manner. My Department is involved with the Minister for Enterprise, Trade and Innovation in looking at a number of initiatives, be they INTERREG under SEUPB or additional training opportunities that need to be advanced in consultations with the institutes of technology and other institutes, for example, the Cavan Institute and the institutes in Dublin, to deal with the issues appertaining to the staff in Blanchardstown and Navan. Work is ongoing in terms of dealing with the needs of those who, unfortunately, find themselves without employment for the next while through voluntary redundancies. It is clearly the mandate of the administrator to stabilise and secure the current jobs under the auspices and guidance of the courts. We are working towards that.

On the final issue of interaction with our new colleagues, both in London and in Northern Ireland, as is required in the normal context following a British general election, all Ministers met yesterday to put forward our plans in the context of meeting our counterparts as a matter of urgency. As Deputy Kenny will be aware, the Taoiseach has spoken to the new British Prime Minister and the Minister for Foreign Affairs has spoken to the Northern Ireland Secretary. We all will be meeting and discussing issues with our counterparts in the UK. As Deputy Kenny can appreciate, we will continue to work on a North-South basis, particularly in the context of Quinn Insurance and its implications.

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