Results 7,521-7,540 of 16,537 for speaker:Brian Lenihan Jnr

Decentralisation Programme. (6 Nov 2008)

Brian Lenihan Jnr: That sounds like some members of the Labour parliamentary party who have been out of office for so many years. There are 6,000 posts being decentralised. Some 2,500 posts have already moved and an additional 3,500 are in train.

Decentralisation Programme. (6 Nov 2008)

Brian Lenihan Jnr: This has been a successful decentralisation programme, which has brought great benefits to towns and cities outside Dublin. The programme should be lauded for that. However, it has been necessary, because of the state of the public finances, to pause the decentralisation programme. That has been done.

Decentralisation Programme. (6 Nov 2008)

Brian Lenihan Jnr: I will give the Deputy the precise figures for the outstanding timescale. On the issue of value for money, overall the Office of Public Works has spent approximately €250 million, to end-September 2008, on the property aspects of the programme. The total income from property disposed of in Dublin, to end-December 2007, was €355 million.

Decentralisation Programme. (6 Nov 2008)

Brian Lenihan Jnr: The Deputies do not want to hear the facts when they do not suit them. On the capital side, the State has been a very successful developer in this context.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The Credit Institutions (Financial Support) Scheme 2008 applies comprehensive control, monitoring and information provisions to the credit institutions covered by the scheme which will ensure enhanced coordination and close working between the Central Bank, the Regulatory Authority and my Department so as to ensure the realisation of the Scheme's objectives. This enhanced cooperation...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: As the Deputy will be aware, we have put in place a wide guarantee for the banking system in Ireland. The legislative scheme setting out the terms and conditions for the guarantee to support the long-term viability of the banking system in Ireland and safeguard the interest of taxpayers has been approved by both Houses of the Oireachtas. It has also been approved as being in compliance with...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: As Minister for Finance it would not be appropriate for me to comment on the performance or financial position of an individual credit institution. The Financial Regulator is responsible for the prudential supervision of credit institutions and is therefore best placed to access and analyse information regarding an institution's financial position. The Financial Regulator has advised the...

Written Answers — Public Service Pay: Public Service Pay (6 Nov 2008)

Brian Lenihan Jnr: I am keeping the public service paybill under continuous review and I have already taken steps to contain its growth. The draft pay agreement "Review and Transitional Agreement 2008-2009" provides for a pay pause of 11 months in the public service. The private sector pay pause provided for is to last for three months. Furthermore, public service employers are required to achieve a 3% cut...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The Scheme prepared under the Credit Institutions (Financial Support) Act 2008 requires each covered institution to prepare a plan to structure the remuneration packages of directors and executives, including total salary, bonuses, pension payments and any other benefits, so as to take account of the objectives of the Act. I will shortly establish the independent, three-member, committee, to...

Written Answers — Economic Competitiveness: Economic Competitiveness (6 Nov 2008)

Brian Lenihan Jnr: The deterioration in the economy's competitiveness relative to that of our main trading partners has been driven by a combination of factors. These include a strong euro, the global rise in commodity prices and wage increases in excess of productivity. The relatively high rate of inflation that we have experienced over the last number of years has also played a role. At this stage, price...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The consolidated dated subordinated debt figure in respect of the first group of banks and building societies to participate in the Credit Institutions (Financial Support) Scheme amounts to €12.4 billion. Details for each individual institution are available in their published financial statements. I do not have a list of the holders of such debt, which means that I cannot comment as to...

Written Answers — Budgetary Projections: Budgetary Projections (6 Nov 2008)

Brian Lenihan Jnr: The Budget day forecasts are for GDP to decline by 11⁄4 per cent this year, with GNP forecast to contract by 11⁄2 per cent. In terms of next year, GDP is forecast to decline by 3⁄4 per cent, while GNP is projected to decline by 1 per cent. The Budget day forecasts have not changed. In preparing these forecasts my Department considered the growth prospects in several of our major...

Written Answers — Pension Provisions: Pension Provisions (6 Nov 2008)

Brian Lenihan Jnr: Total expenditure on public service pensions in 2007 was of the order of €2.3bn and the most recent projections carried out by the Department of Finance are for expenditure on public service pensions to increase from around 1.3% of GDP in 2007 to 2.1% in 2025 and to 2.6% by 2050. The projected increase arises from the growth in public service employment in recent years and from increasing...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The written notification to six named financial institutions of the provision by the Government of a guarantee to their deposits and funding, which I referred to as a letter in the course of the debate on the Credit Institutions (Financial Support) Scheme 2008, was published by me on the morning of 30 September and is publicly available on my Department's website. On the 9th of October, I...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Nov 2008)

Brian Lenihan Jnr: The Central Bank Act, 1942 as amended provides the Financial Regulator with the power to administer sanctions in respect of prescribed contraventions by regulated financial service providers and persons concerned in the management of regulated financial service providers. The Financial Regulator is the competent independent statutory authority in the State for the supervision of compliance...

Written Answers — Tax Code: Tax Code (6 Nov 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 22 and 38 together. My Department and I are of course always mindful of any international developments that could potentially impact on foreign direct investment here. In that respect there is continuous liaison with the business community through domestic and overseas channels to monitor any potential changes. In terms of the United States of America, I am...

Written Answers — Public Service Modernisation: Public Service Modernisation (6 Nov 2008)

Brian Lenihan Jnr: Towards 2016 is a ten year framework agreement which sets out an agenda for the further modernisation of the Public Service. It commits the parties to the Agreement to continued co-operation with change and modernisation initiatives, as well as improved productivity across the Public Service. In approaching the recent Partnership talks the Government recognised that while significant...

Written Answers — Budgetary Projections: Budgetary Projections (6 Nov 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 24 and 105 together. The budgetary forecasts by my Department in Budget 2009 were based on the best information available at the time. For 2009 the Budget forecast a General Government Balance of -61⁄2% of GDP based on tax revenue growth of 1% and gross voted expenditure growth of 1.8%. Since Budget Day my Department has published the October Exchequer...

Written Answers — House Repossessions: House Repossessions (6 Nov 2008)

Brian Lenihan Jnr: The Deputy will appreciate that recent media attention to court proceedings for repossessions needs to be interpreted with caution, given the variety of circumstances that give rise to such cases. Although the number of cases involving applications for possession orders are up in each of the last two years it should be noted that orders are not always granted and do not always represent...

Written Answers — Debt Levels: Debt Levels (6 Nov 2008)

Brian Lenihan Jnr: Within the implementation of the overall legislative framework, private sector credit growth and debt levels are, in the first instance, a matter for the Central Bank and Financial Services Authority of Ireland. This follows from its role as part of the European System of Central Banks and its functions, as the Financial Regulator, in relation to the prudential supervision of financial...