Results 8,541-8,560 of 19,445 for speaker:Brian Cowen

House Prices. (24 Apr 2008)

Brian Cowen: For the very simple reason that when revenue projections were exceeded, more than 75% of the increased revenues went back to reduce debt. We did not base the budget on the boom. Deputy Bruton claimed earlier that all these increased revenues went on unsustainable spending programmes and we are now hitting the wall. That is not the case.

House Prices. (24 Apr 2008)

Brian Cowen: Fine Gael is decrying we do not have those revenues available to us this year.

House Prices. (24 Apr 2008)

Brian Cowen: We did build them on solid foundations.

House Prices. (24 Apr 2008)

Brian Cowen: Is the Deputy saying the foundations of the economy are crumbling?

House Prices. (24 Apr 2008)

Brian Cowen: The foundations of the housing market are not crumbling. The market is adjusting. There is a correction taking place because we had an oversupply in the market. That happens in markets. The commercial property market is not as weak but actually stronger.

House Prices. (24 Apr 2008)

Brian Cowen: I know that but the suggestion that the whole building industry is crumbling does not stand up.

House Prices. (24 Apr 2008)

Brian Cowen: Housing output this year — a relatively poor year compared to others — is still higher than ten years ago. Concerning this idea of the market crumbling, we must keep a sense of perspective.

House Prices. (24 Apr 2008)

Brian Cowen: The point the Deputy is missing is that markets adjust to supply and demand.

House Prices. (24 Apr 2008)

Brian Cowen: I did not interrupt the Deputy while he was asking his question. The criticism beforehand concerned when the Government would try to increase supply to meet demand. Now that the market has adjusted and built up capacity to meet demand, the Deputy's problem is that we allowed the market to grow too quickly. The market grew in response to demand.

House Prices. (24 Apr 2008)

Brian Cowen: The demographics of the country are such that, at a per capita level, housing output in the medium term——

House Prices. (24 Apr 2008)

Brian Cowen: ——suggests 60,000 units per year is the best way forward, according to the ESRI and others.

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: I refer the Deputy to my previous replies regarding the proposals published by the Commission that will lead to an agreement on the contributions of individual member states towards meeting the EU targets agreed at the 2007 spring Council. The Commission proposes that Ireland reduce its greenhouse gas emissions by 20% by 2020 based on 2005 emissions figures and achieve an overall target of...

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: The targets are challenging and the objective is to try to meet them on the basis of avoiding a detrimental effect on economic growth, jobs and investment. A serious behavioural change on everyone's part will be required. We are discussing with the Commission the method to achieve the targets. As matters stand, they would be difficult to achieve were there no flexibility. Part of the...

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: We were not able to meet the rate of growth requirements set out in our programme for Government. A number of available mechanisms, such as the emissions trading system and the non-emissions trading system, must be considered. This is a lesson for the future. Regarding carbon sinks and so on, we must determine to what extent we can ensure a comprehensive approach by the Commission——

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: ——to allow us flexibility. We need flexibility to try to reach the targets.

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: It is not fair to say that they are being set back by years.

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: When one sets about putting in place complex and ambitious public sector projects, some of which are proceeding quickly——

Climate Change Strategy. (24 Apr 2008)

Brian Cowen: The Luas extensions are proceeding through their various phases. We must give credit to public service agencies when they are doing a good job on our behalf. Surely we have not become so politically correct that we must criticise everything. The Railway Procurement Agency, RPA, has been doing a good job in moving those extensions through the various phases that must be passed in our...

Pension Provisions. (24 Apr 2008)

Brian Cowen: The total accrued liability in respect of public service occupational pensions is estimated at €75 billion as of 2007. This figure represents the present value of the expected future pension payments to current staff and their spouses in respect of service to date with the full liability for all future payments to current pensioners and their spouses. The figure represents a projection of...

Pension Provisions. (24 Apr 2008)

Brian Cowen: The large size of the accrued liability figures, €75 billion, is due to it comprising the total of pension payments for many years into the future. It will continue until the last spouse of serving staff has died, which probably will be in more than 70 years time.