Results 3,261-3,280 of 4,717 for speaker:Martin Mansergh

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Martin Mansergh: In response to Deputy Rabbitte, as I understand it, the Minister made no commitment on the question of possible contributions being in abeyance. Section 6 amends section 18 of the principal Act in a number of respects. It allows the Minister to make the annual contribution to the National Pensions Reserve Fund in one lump sum or in several instalments. It also allows him to pay a sum of...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Martin Mansergh: I would not in the least wish to deny the problem outlined by Deputy Rabbitte. Considerable concern has been shared by myself and Deputy Rabbitte in recent times about the flow of credit to viable business. There certainly is, as he said, anecdotal evidence of cash flow financing difficulties.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Martin Mansergh: While falling demand for credit has undoubtedly played a role, the perception of limited credit availability, and anecdotes of actual instances, can be damaging at this time of fragile business and consumer confidence. This is the reason the Government decided that there should be an independent review of bank lending to provide an accurate picture of the current position to SMEs in Ireland....

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Martin Mansergh: I move amendment No. 2: In page 9, to delete lines 42 to 49 and in page 10, to delete lines 1 and 2 and substitute the following: "(d) in section 739D by substituting for subsection (6)(l)— "(l) is— (i) the National Pensions Reserve Fund Commission or a Commission investment vehicle (within the meaning given by section 2 of the National Pensions Reserve Fund Act 2000 (as amended by...

Public Finances: Motion (4 Mar 2009)

Martin Mansergh: The Government and the country have been in crisis management since last July, and particularly since last autumn. Most of the rest of the world is in a similar position. Crisis management requires a series of actions or responses until the situation is stabilised and brought under control. While there is normally merit in deploying minimum force rather than engaging in overkill, sometimes...

Written Answers — Decentralisation Programme: Decentralisation Programme (5 Mar 2009)

Martin Mansergh: A number of key projects were identified as priority elements of the decentralisation programme in the Government announcement of 14 October 2008. The construction of a new headquarters building in Mullingar for the Department of Education and Science, in conjunction with a new headquarters for the Department of Agriculture, Fisheries and Food in Portlaoise and a new decentralised office for...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (5 Mar 2009)

Martin Mansergh: I thank the House for agreeing to discuss this Bill today at short notice. The Bill represents an important step in the implementation of the Government's announcement on 11 February regarding the proposed recapitalisation of Allied Irish Banks and Bank of Ireland. It implements the Government's decision that the National Pensions Reserve Fund, NPRF, will play an important role in the...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (5 Mar 2009)

Martin Mansergh: Well, I have some.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (5 Mar 2009)

Martin Mansergh: I appreciate it is meant as a compliment.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (5 Mar 2009)

Martin Mansergh: I thank Senators for a very good debate. I am not the Minister for Finance, but I will attempt to reply to the best of my ability to the points raised. The Fine Gael spokesperson, Senator Twomey, raised the issue of due diligence. If I understand him correctly, he was referring not to due diligence with regard to the banks, which has been dealt with, but with regard to the original purpose...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (5 Mar 2009)

Martin Mansergh: I will not delay the House talking about due diligence with regard to the banks. Obviously there is a degree of uncertainty in the projections for pension costs post-2025, which depend on demographic assumptions. The Department of Finance has published projections carried out by the long-term issues group, assisted by Alan Barrett at the ESRI. Such projections are kept under review and are...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (5 Mar 2009)

Martin Mansergh: Senator Burke referred to the credit institutions not listed on the Stock Exchange, notably EBS and Irish Nationwide. The Government announced proposals for the recapitalisation of the two main banks and it nationalised Anglo Irish Bank. It has announced that it is in discussions with the other institutions covered by the deposit guarantees, Irish Life & Permanent, EBS and INBS, concerning...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: I thank Senators for their contributions on these three amendments. Focusing on amendment No. 1, there must be pay restraint. In reality, however, reductions in net income are vital in the overall current economic situation. The Government recognises the importance of that at the most senior levels of the banking sector. It is important not only in the context of financial support being...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: I did not say that.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: I do not propose to accept the amendments. With regard to Senator Twomey's remarks, it is, of course, the function and duty of the Opposition to put the other point of view. However, I always pay particular attention when the Opposition, when saying what the Government should be doing, states that if it were in government it would do it. Very often, however, one does not hear that. Some of...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: That might be the Senator's point of view but the Government commissioned the report, has received it and will deal with it with due process. That will take place very shortly. I do not propose to express personal views on the matters covered by that report. I am sure the Minister will make a statement in that regard next week or, at the latest, in the following week. With regard to fixed...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: We do not live in a state, and I doubt if such states exist, where Ministers or anybody else has perfect information on absolutely everything that happens in society. I am not much in favour of Ministers, as a regular habit, working through nights. If Ministers are to make sensible decisions, they need some sleep like everybody else.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: With regard to special needs classes, the provision for resource teachers, special needs assistants and other assistance, which was virtually non-existent in 1997, has been vastly improved, partly due to various Ministers, including Senator Hanafin's sister. What the Senator is talking about — I do not underestimate its effect in certain instances — is essentially a marginal adjustment.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: That is true.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: Yes.