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National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: I thank the Leas-Cheann Comhairle for his common sense approach. More of that around here would be very much welcomed. The surcharge is based on a surcharge on corporation tax that may never be payable because the banks will have losses forward. It should have been based on operating profits before adjustments for any losses forward. It should be on the basis of a charge rather than a tax...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: The issue of protection in terms of the whistleblower elements of the legislation——

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: We are reaching the conclusion of the debate on the National Asset Management Agency Bill. My difficulty is that many of the sections that are very relevant have never been properly discussed in this Chamber. We should be given time to discuss those areas in some detail again.

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: We have no issue with these technical amendments.

Written Answers — Community Development: Community Development (10 Nov 2009)

Kieran O'Donnell: Question 322: To ask the Minister for Community, Rural and Gaeltacht Affairs if community development programmes will be retained and their activities continued in view of widespread concern over his plans for community development and local development programmes for 2010; his plans in relation to the Special Group on Public Service Numbers and Expenditure Programmes recommendations for...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: I want to raise a point of order. The Government will guillotine this debate tonight. I am making a plea to the Minister not to do so.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: The key amendments concerning the windfall tax, the surcharge, the bank levy and the guidelines will not be reached.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: We will never get to them. That is not what this House is about.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: Will the Minister go to the Chief Whip to get more time to allow us to debate this legislation at length?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: Why is the Minister guillotining the Bill? This is against democracy. The key amendments have been put to the very end of the list so they will not be debated.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: In the interests of democracy.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: The Minister knows that. There should be a proper debate.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: It is too important. Why is the Minister guillotining this debate?

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: It would be very much in the social and economic interests of the State that we had a proper debate on this legislation. Regarding the amendment, when one defines the economic and social development of the State, we must debate issues such as the windfall tax, the bank levy - which the Minister is calling a surcharge - and the guidelines on lending put forward by the Minister. This...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: I have addressed the amendment in terms of the social aspect.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: In many cases in the past they were not in place.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: I move amendment No. 9: In page 17, between lines 17 and 18, to insert the following: "(viii) to ensure that the measures taken in this Act restore confidence in the banking sector are reciprocated by lending by the participating institutions to members of the public generally in their private capacity and to small and medium enterprise in particular, (ix) to ensure an orderly property...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: I have a major issue with that. On the key issues the Minister is to bring forward guidelines on getting credit flowing but I must express my severe disappointment that he saw fit not to allow extra time to ensure we improve the quality of this legislation.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: No.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Kieran O'Donnell: If the Minister wished, he could voice the view that he felt extra time should be given to the Bill and no doubt the Government would acquiesce to that request from him. The other issue concerns the term, "to ensure an orderly property management strategy over a ten year period". Once again, within the draft business plan we have no idea what exactly the Minister has in mind in terms of the...

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