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Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: While I do not propose to support this legislation, it is not because I do not respect the decision of the electorate in the referendum on the fiscal treaty. I accept that decision. Nevertheless, a substantial proportion of voters opposed the proposal and it is right and proper that I and others who took the same position should represent that view when it comes to the vote on this Bill....

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: Yes; credit is an issue I will discuss in a moment. None of these areas is improving. Moreover, the incidence of suicide is increasing, as is homelessness, housing lists are lengthening and people must look forward to paying hundreds of euro more in property and water charges and a further €700 million in cuts to the health service, which the Government promised the troika it would...

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: The top 5% are paying an effective tax rate, including the universal social charge, of 36%.

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: Why can they not pay an effective tax rate of 50%?

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: It is the poor who are leaving the country - 40,000 of them a year. Is it okay for them to leave the country because there are no jobs and they are crippled by limited services, austerity and poverty?

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: What is not true?

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: I just told you. Get out your calculator. Multiply €35,000 by 108,000. It comes to €3.5 billion. That is how we would make up the gap. In addition to that-----

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: That is the deficit and that is the adjustment that should be imposed in the next budget.

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: A Leas-Cheann Comhairle?

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: In addition to dealing with the €3.5 billion deficit by taking €35,000 in taxes from the richest 5% in our society, which would still leave them very rich, we need money for a stimulus investment programme. One cannot have jobs or recovery without such a programme. Where would one raise the funding for it? From the corporate sector, which is creaming it in profits and pays an...

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: They confirmed it.

Fiscal Responsibility Bill 2012: Second Stage (Resumed) (10 Oct 2012)

Richard Boyd Barrett: Deputy Murphy did a good enough job of that himself.

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Issues (10 Oct 2012)

Richard Boyd Barrett: To ask the Minister for Public Expenditure and Reform his plans to maintain frontline services in view of his plans for targeted voluntary redundancies in the public sector; and if he will make a statement on the matter. [43422/12]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: I extend my best wishes to the Chairman on his new role. I hope the delegation will agree that this is a pretty sickening episode in the pretty awful recent history of this country. On top of all the other crises concerning the banks and financial system, we have the mess in Quinn Insurance. Hundreds of thousands of ordinary families and householders are on the hook again, this time for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: I will try to contain my indignation. The false declaration of losses as profits and the reckless mismanagement that underlay this practice are pretty criminal by any public or objective standard. What is the Central Bank doing or what can it do to pursue the money that was handed out to the Quinn family? If I understand the delegates correctly, they are saying they had not adequately got...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: On the issue of the failure of regulation, the explanation given by Mr. Cullinan is it had to do with under-resourcing and the lack of powers and he has stated these issues are being addressed. Did the Central Bank complain, publicly or privately, about its lack of power and resources in supervising adequately sectors such as the insurance sector or other sectors that were chronically...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: I have asked the question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: I have a brief supplementary question on that subject. Did the possibility of a full-scale nationalisation ever enter the heads of the administrators?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: That would be a Government decision.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Richard Boyd Barrett: Lastly, what of the fees?

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