Results 7,221-7,240 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Icelandic Investments: Icelandic Investments (16 Oct 2008)

Brian Lenihan Jnr: In response to the Deputy's question none of the bodies under the remit of my Department have funds invested in Icelandic financial products.

Written Answers — Tax Code: Tax Code (16 Oct 2008)

Brian Lenihan Jnr: As the Deputy is aware, the fuel duty rebate is to be withdrawn with effect from 1 November 2008 following the ending of a special derogation under the EU Energy Tax Directive 2003. A similar situation affects all Member States who had derogations under the Directive. The Department of Transport and other relevant Departments, in conjunction with my Department, have examined and considered...

Written Answers — Strategic Development Zones: Strategic Development Zones (16 Oct 2008)

Brian Lenihan Jnr: Under Part IX of the Planning and Development Act 2000, the Government may by Order, on foot of a proposal from the Minister for the Environment, Heritage and Local Government, designate a site or sites as a Strategic Development Zone (SDZ) to facilitate development which is considered, in the Government's opinion, to be of economic or social importance to the State. I understand that...

Written Answers — Appointments to State Boards: Appointments to State Boards (16 Oct 2008)

Brian Lenihan Jnr: In response to the Deputy's question the persons appointed under the Public Services Management (Recruitment and Appointments) Act 2004 and the Central Bank and Financial Services Authority of Ireland Act 2004 were appointed in accordance with the relevant statutory provisions outlined in the Acts.

Written Answers — Banking Sector: Banking Sector (16 Oct 2008)

Brian Lenihan Jnr: The figure referred to by the Deputy was compiled on the basis of published audited annual financial statements for the institutions concerned for 2007. The relevant figures for covered liabilities are now being updated for end-September 2008 in the context of the guarantee charging model included in the draft Scheme laid before both Houses of the Oireachtas on 15th October 2008. In...

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: I move: That Dáil Éireann approves the terms of the draft scheme entitled Credit Institutions (Financial Support) Scheme 2008, a copy of which draft scheme was laid before Dáil Éireann on 15 October 2008. This draft scheme is being presented to the House under Section 6(5) of the Credit Institutions (Financial Support) Act 2008. The legislation was enacted on 2 October 2008 following...

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: The provision of the guarantee in the first instance and the access to liquidity that it has provided for our banks and building societies is an important benefit in ensuring that finance is available and affordable in the economy. As Minister for Finance, I will be entitled under the scheme to recoup such amounts from the covered institution and may direct the covered institution concerning...

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: The scheme allows us to revise the charge.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: At present.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: There is no problem with getting pitbulls as the moment. There are plenty of them around.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: Is the Deputy in the same yacht club?

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: We did not suggest that.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: It is the other Deputy Lenihan.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: I am shocked.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: I am amenable to allowing Members conclude their contributions.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: I understand I am not replying to the debate but to the questions.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: In the current international climate, it is highly dangerous to set a deadline for a full public discussion on the floor of the House about such a matter. First, one must recall that the Government put in place this wide guarantee and its effect was to restore confidence in the banking system in the context of liquidity provision. That has been a real success of the guarantee operation. It...

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: ——and I agree with him on this matter. However, it is a fact established by the Financial Regulator to his complete satisfaction that the Irish banks do not have a substantial exposure to such instruments. Members referred to the possible exposure of the banks in connection with the property sector in Ireland. It is undeniable and all of the analysts have pointed out the exposure....

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: Yes, indeed. It is important to make that point because it is a distinction between the Irish banking system and the banking systems in other countries which have entered hazardous waters because of their exposure to sub-prime lending. Sub-prime lending was, in turn, discounted on the market and eventually the discounted instruments became useless and valueless.

Approval of Credit Institutions (Financial Support) Scheme 2008: Motion (17 Oct 2008)

Brian Lenihan Jnr: It is not that I will not come to the House. What I said was that I do not believe we should fix a time limit——