Results 5,961-5,980 of 13,375 for speaker:Pat Rabbitte

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: Has this anything to do with the Bill or does it merely constitute using the Bill to deal with this issue conveniently?

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: ——given the Sligo provenance.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: The Minister in particular drew our attention to sections 6, 8 and 12 of the Bill. I will start at the back and make reference to section 12, which concerns the amending of the Markets in Financial Instruments and Miscellaneous Provisions Act 2007. In his script, the Minister drew our attention to the fact the purpose of this is to provide in particular for the situation that has risen with...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: These debates are entirely inadequate to deal with the issues that are before us. I note that the Minister is required to talk to or consult the Central Bank and the Financial Regulator. Up to now, I have not made much comment about the regulator because, by and large, I believe public servants do the job they are allowed to do. However, the more one examines the matter, the more horrified...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: That is a different point. When Mr. Alastair Darling initially dealt with this issue the coupon was 12%. It turned out to be unsupportable with the objective of stabilising the banks and it was too punitive. Taxpayers find that having devoted a share of national wealth to the pensions of the future, that pension money is now going toward the banks. Many people have great difficulty in...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: I am standing up, and I hope the Minister, Deputy Noel Dempsey, has calmed down somewhat since.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: They are absolutely shocking. Deputy Burton referred to the role of Hy-Brazil. I note that Ulysses was mentioned too. Will the Minister of State, Deputy Haughey, in the course of his reply clarify the position? It appears that on the one hand we will receive a windfall of €127 million, but on the other hand, that is an administrative fiction and no more than a legal tidying up. Will...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (3 Mar 2009)

Pat Rabbitte: The Deputy is better than Deputy Charlie O'Connor.

Written Answers — Swimming Pool Projects: Swimming Pool Projects (3 Mar 2009)

Pat Rabbitte: Question 50: To ask the Minister for Arts, Sport and Tourism when he plans to launch the next round of the local authority swimming pool programme; and if he will make a statement on the matter. [8531/09]

Written Answers — Sports Capital Programme: Sports Capital Programme (3 Mar 2009)

Pat Rabbitte: Question 71: To ask the Minister for Arts, Sport and Tourism the capital projects which had been planned by his Department, or with the assistance of funding from his Department, which will not be proceeding; and if he will make a statement on the matter. [8523/09]

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

Pat Rabbitte: Has the Leas-Cheann Comhairle run out of letters of the alphabet?

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

Pat Rabbitte: The commission can only accept moneys from the Central Fund. Does this change now mean that, for example, a State company could be brought to the market and the proceeds of it transferred to the commission? The provision opens up the possibility for the acceptance of moneys from other than the Central Fund, but what source of funds caused the change? Who has paternity of the 8% coupon?...

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

Pat Rabbitte: The Leas-Cheann Comhairle might permit me to try again. It is unlikely this provision was inserted without a reason. There must be some anticipation in this regard. If I politely probe the Minister of State, he might be extravagant in his next reply. I cannot imagine the Department of Finance putting in this provision. I had the pleasure last night of encountering a former assistant...

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

Pat Rabbitte: On Second Stage we discussed the proposal to change the normal arrangement in respect of quarterly instalments to facilitate the front loading and so on for the present year and for the subsequent year in order that the total of €7 billion be realised. During his introductory speech the Minister for Finance said he was prepared to contemplate the notion of a holiday in respect of the...

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

Pat Rabbitte: We can get carried away with the nitty-gritty of the Bill and forget the overall purpose. Politically as well as economically, the purpose is to assist the banks in functioning normally again and, in that regard in particular, unfreezing the credit lines that have been frozen over recent months. The Minister of State reiterated the point about the earlier commitments made and the fact the...

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

Pat Rabbitte: It is the windfall that is not a windfall. It is Ulysses.

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

Pat Rabbitte: I welcomed this section of the Bill on Second Stage. It brings a long overdue measure of transparency to these types of financial instruments. I presume the Minister has in mind, particularly, contracts for difference which comprise such a surprisingly high volume of transactions on the Stock Exchange. Reading interesting profiles of some of our leading developers over recent days, one...

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

Pat Rabbitte: I do not raise it in that context.

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

Pat Rabbitte: It is fair to say that the advice taken by the Taoiseach at the time did not come from disinterested parties.

Written Answers — Departmental Expenditure: Departmental Expenditure (4 Mar 2009)

Pat Rabbitte: Question 46: To ask the Minister for Community, Rural and Gaeltacht Affairs the way in respect of the announcement of 3 February 2009, it is intended to effect the 8% reduction in professional fees in relation to services provided to or funded by his Department; the amount expected to be saved in his Department's budget as a result of this process; and if he will make a statement on the...