Results 5,021-5,040 of 32,583 for speaker:Richard Bruton

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

Richard Bruton: I do not mean to be obstructive on this issue. The National Pensions Reserve Fund has shareholdings in companies quoted throughout the world. People are not basing their determination of the value of these internationally traded shares on the investment strategy of the National Pensions Reserve Fund. The Minister had no compunction about talking openly for weeks and months about the...

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

Richard Bruton: We were given a figure of €4 billion and there was talk at an earlier stage of a larger sum being required. It was not clear at all stages that the Minister intended to produce the double contribution from the State in one year. I do not want to be made a fool of in this matter. There was speculation that the National Pensions Reserve Fund might have to sell some of its shareholding to...

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

Richard Bruton: The amendments are being discussed together.

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

Richard Bruton: I move amendment No. a1e: In page 3, before section 2, to insert the following new section: "2.—(1) Any advance contributions made by the Minister to the Fund shall be confined to the provision of funds to certain financial institutions agreed by a resolution of the Houses of the Oireachtas to constitute critical financial institutions to the provision of financial stability and the flow of...

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

Richard Bruton: I move amendment No. a1ga: In page 3, before section 2, to insert the following new section: "2.—Any funding to any financial institution to which funds are paid out of the National Pension Reserve Fund under this Act in excess of a cumulative total of €7 billion shall not be made save pursuant to a resolution of both Houses of the Oireachtas.".

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

Richard Bruton: I move amendment No. a1k: In page 4, line 26, after "Minister" to insert the following: "having secured the prior approval of each House of the Oireachtas". This is to require the approval of the Houses of the Oireachtas and I hope the Minister agrees to it as it would show some deference to the House.

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

Richard Bruton: It is welcome that there would be more transparency about trade and contracts for difference. I imagine there is quite an amount of rethinking about the regulation of various types of derivative. Does the Minister propose this as a catch-all section by which he can make regulations of a very wide variety in line with what he and his colleagues decide is the future regulatory approach or is...

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

Richard Bruton: I ask the Minister to reconsider the issue of whether the Oireachtas would hear if the Minister was advancing further sums. I wish to explore this a little further if possible. I do not know when this measure is due to be considered. There is a similar amendment to ours in the name of Deputy Arthur Morgan which states: "The Minister shall not direct the Commission to use funds from the...

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

Richard Bruton: Yes, we did. As I understand the Minister's argument is that if he had to come back to the House for approval, he would be signalling to the National Pensions Reserve Fund that it had to sell shares. Signalling this to the National Pensions Reserve Fund would send a terrible message to the markets and the fund would not be able to realise the value of its shares because the Minister had the...

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

Richard Bruton: I take it the Minister will respond.

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

Richard Bruton: I am worried about the matter I just raised as a non-Report Stage amendment.

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

Richard Bruton: I reiterate the general observation that I am not entirely convinced of the confidentiality and urgency that would prevent the Minister coming back to the House were he disposed to put more capital into the banks than he has to date indicated.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (4 Mar 2009)

Richard Bruton: Question 103: To ask the Minister for Finance the components of the equity and liabilities of the six Irish guaranteed institutions which were not guaranteed at 30 September 2008 and 26 February 2009, respectively, listed by each category of capital, quasi-capital, undated subordinated debt and bonds maturing after September 2010; if he is monitoring movements between guaranteed and...

Order of Business (5 Mar 2009)

Richard Bruton: I understand we will have a new Finance Bill and a new Social Welfare Bill. I thank the Minister for the briefing we received on the state of the tax affairs and spending projections. What are the ground rules for the debate we are entering into? Will we see a new approach to Dáil evaluation, whereby the House would be presented with the options under consideration in each Department and...

Order of Business (5 Mar 2009)

Richard Bruton: If there is to be engagement it must be from both sides. The Government has all of the information on the options available, which was not released to us yesterday in any shape or form. That information needs to be on the table so there can be a genuine exchange on what are the best options for the future.

Order of Business (5 Mar 2009)

Richard Bruton: I want clarification. My question was very clear. I asked if we would see a new process and if the Dáil would be engaged in looking at a set of options and reaching a mature decision as to what is best for the country or if the Government would come in on 1 April and say, "We have made our decision and the Opposition can like it or lump it". That is the question.

Order of Business (10 Mar 2009)

Richard Bruton: I thought the Ceann Comhairle recognised me.

Order of Business (10 Mar 2009)

Richard Bruton: I thought the Ceann Comhairle looked down benignly at me, but he was obviously looking through me. I refer to the forthcoming budget. Normally at this time of year we would have access to detailed tax forecasts from the Department showing what is likely to be raised under different tax heads. This has not yet been furnished to the House. Normally, we would also have the Revised Estimates...

Order of Business (10 Mar 2009)

Richard Bruton: What about the tax forecasts? Will we see these?

Order of Business (10 Mar 2009)

Richard Bruton: It is extraordinary that we do not have tax forecasts. It is unprecedented.