Results 25,121-25,140 of 26,162 for speaker:Kieran O'Donnell

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: The Green Party is bailing out the developers. How much will it cost the taxpayer?

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: A 40% write off would be €36 billion. The figures do not add up. That is why the Government needs to look at the scheme we are proposing, which at least would provide the taxpayer with some chance. The Government would be required to put money into the fresh bank. but at least it would ensure that through ordinary shares there would be some return and that funds flowed to small business....

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: That is an own goal. The banking situation is so critical in terms of the economy that the Government has to get it right. Effectively, the model it is coming up with has an enormous amount of unanswered questions. The Fine Gael model, as elaborated in great depth by Deputy Enda Kenny, gives the taxpayer a chance in terms of returns on investments in the banks and in terms of funds to...

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: I am glad of the opportunity to speak on this budget. To take up one of Deputy Kenny's points, it is generally accepted that a country cannot tax its way out of a recession but that is what the Government is attempting to do. That is the main thrust of this budget. It hits people on low to middle incomes and it is based around tax increases. Any budget must have three key components. It...

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: However, what I see in the budget is business as usual. What about the issue of VAT reduction? The Minister for Finance admitted publicly that he had made a mistake by raising the VAT rate from 21% to 21.5%. Not only did he raise the rate but he did so during the November to December VAT period when it crippled those in the small business sector.

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: The Government raised the rate because, effectively, it decided to screw people over Christmas when they would spend money. This budget is screwing them again because it is withdrawing the Christmas bonus from social welfare recipients. It is going after soft targets.

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: This is a bookkeeping exercise. An holistic approach has not been taken. The Taoiseach had a glorious opportunity to put measures in place that would impose very little cost on the Exchequer but would give confidence to consumers. With the increases in income tax and levies, the Government will force consumers to save because they are worried about the security of their jobs and their...

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: That is what he said. People were speaking about €900 billion and by way of example he quoted the figure of €230 billion. He mentioned that figure.

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: Everything is notional. It was notional that the banks were not in trouble. It was notional that the guarantee scheme was not needed.

Financial Resolution No. 11: General (Resumed). (8 Apr 2009)

Kieran O'Donnell: Does the Taoiseach agree that bank loans are not being repaid? No developers' loans are being repaid. Furthermore, many of them are non-recourse loans; the only security for the loans given was the asset concerned. Any small business that applies for a loan must give a security of varying degrees, but that did not apply to these developers. The ordinary man in the street is asking what is...

Financial Resolution No: 2: Income Tax (7 Apr 2009)

Kieran O'Donnell: We will be opposing both these resolutions. Prior to the announcement of the budget, the Government gave the impression that it would be a fair one, would spread the pain across all income groups and that it would not be extremely unfair to families. Financial Resolution No. 1 proposes a doubling of the income levy for people on a moderate income. People earning below the minimum wage will...

Written Answers — Tax Code: Tax Code (2 Apr 2009)

Kieran O'Donnell: Question 81: To ask the Minister for Finance if he foresees change regarding the tax treatment of retirement lump sums in public and private sector pensions. [13960/09]

Written Answers — Hospital Services: Hospital Services (31 Mar 2009)

Kieran O'Donnell: Question 189: To ask the Minister for Health and Children the position in respect of discussions between the Health Service Executive and St. John's Hospital, Limerick, in terms of the recommendations of the Teamwork consultants report and its implications for St. John's Hospital. [12876/09]

Financial Institutions Support Scheme. (26 Mar 2009)

Kieran O'Donnell: Question 5: To ask the Minister for Finance the status of the recapitalisation plans for covered institutions; and if he has assessed the options to isolate impaired loans within banks in order that good banks can be put in a position to resume lending with a clean balance sheet at minimum cost to the taxpayer. [12768/09]

Financial Institutions Support Scheme. (26 Mar 2009)

Kieran O'Donnell: Have discussions taken place with the banks to deal with the issue of setting up a toxic debt bank and what has been the outcome of those discussions? Has the report from Dr. Peter Bacon been considered by Cabinet? Will the Minister explain, if he is considering setting up a toxic bank, what will be the cost to the taxpayer in terms of write-downs on developers' loans?

Financial Institutions Support Scheme. (26 Mar 2009)

Kieran O'Donnell: How does the Minister intend isolating what is now familiarly termed toxic debt? If I might make a proposal, when the Minister is examining considerations, Fine Gael has put forward a position which is, effectively, that instead of setting up a toxic bank, one would allow the toxic debt to remain in the existing banks and set up fresh banks, which would cost the State less. The Minister...

Financial Institutions Support Scheme. (26 Mar 2009)

Kieran O'Donnell: When does the Minister expect to make the decision on this? The Minister refers to not using the term "toxic debt". We can call them under-performing or non-performing loans. When one is talking about write-offs of 60%, they are highly toxic. The Minister continuously tells us that the world is looking in on us. The world is looking at the Minister also. These are regarded as toxic...

Financial Institutions Support Scheme. (26 Mar 2009)

Kieran O'Donnell: When will the Minister deal with the issue of non-performing loans?

Financial Services Regulation. (26 Mar 2009)

Kieran O'Donnell: The credit union movement, which operates in every corner of Ireland, is fantastic. In terms of ensuring they are robust, I refer to a question raised by Deputy Bruton in regard to whether the registrar and Financial Regulator have carried out an investigation of credit union investments? This would provide certainty and security to the movement. Perhaps the Minister would respond on that...

Departmental Surveys. (26 Mar 2009)

Kieran O'Donnell: It was a mistake.