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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: The Deputy should put a question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: The Deputy may ask a couple of final questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: Deputy Donnelly is running out of time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: I call Deputy O'Donnell, who is sharing with Deputy Dara Murphy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: I call Deputy Kevin Humphreys.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: The Deputy has five more minutes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: I wish to make a comment. The macro issue is probably the greater issue with the Bank of Ireland. One of the questions that was put to Mr. Boucher last week was whether any engagement had taken place between the Government or the State and the Bank of Ireland on the sale of the State's percentage in the bank. Has any such discussion taken place? Is there a plan to cash in?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: The Minister must leave at 9 p.m. but, with some flexibility, I can allow everyone to contribute.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: I will give the Senator a few minutes as he has waited long enough.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: I will take some brief supplementary questions from Deputy McGrath. If Deputy Mathews has a question I will take it. I will not take a statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: Deputy Mathews, please.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: Please, Deputy Mathews. I am indulging you but I need to conclude the meeting. I noted the Minister's comments with regard to the property sector. Deputy Mathews makes the point about rules on the valuation of property. The Minister's comment this evening that the billed costs of a property have not come down during the shrinkage years of the property market because even when property...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: Sorry, Deputy Mathews. You are no longer a member of this committee. I allowed you as it is the season of Lent and I offer it up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Ciarán Lynch: Lent will be over next week and I will not have to include Deputy Mathews. I ask him to allow me to conclude without interruption. We may need to revisit that matrix. I thank the Minister for contributing to a very extensive discussion. I welcome the support of the Minister's officials at the meeting. I understand that the report is to go to the Commission by the end of this month....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Business of Select Sub-Committee (16 Apr 2014)

Ciarán Lynch: I welcome the Minister for Finance, Deputy Michael Noonan, and his officials. The purpose of this meeting is to consider Committee Stage of the Central Bank Bill 2014. The Bill was referred to the select sub-committee by Dáil Éireann on 9 April 2014. Before we begin, I remind members and those in the public gallery that all mobile phones must be switched off to avoid...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Business of Select Sub-Committee (16 Apr 2014)

Ciarán Lynch: I thank the Minister on behalf of the members. It is very much appreciated.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank Bill 2014: Committee Stage (16 Apr 2014)

Ciarán Lynch: The purpose of the Bill is, first, to amend the Central Bank Act 1971 to allow the transfer of assets and liabilities from a building society to the holder of a banking licence and, second, to provide a payment out of the Central Fund to the ESM for the purpose of providing financial assistance to Greece.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank Bill 2014: Committee Stage (16 Apr 2014)

Ciarán Lynch: Amendment No. 1 in the name of Deputy Michael McGrath has been ruled out of order as it is not relevant to the provisions of the Bill. As the Deputy is aware, and I know from being a committee member, that while the notices are issued in my name they are decided by the Bills Office and the Ceann Comhairle's office.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank Bill 2014: Committee Stage (16 Apr 2014)

Ciarán Lynch: Amendment No. 2 is in the name of Deputy Pearse Doherty. Deputy Brian Stanley is substituting for Deputy Doherty.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank Bill 2014: Committee Stage (16 Apr 2014)

Ciarán Lynch: Amendment No. 3 has been ruled out of order as it is not relevant to the provisions of the Bill.

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