Results 11,121-11,140 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Banking Sector: Banking Sector (21 Oct 2009)

Brian Lenihan Jnr: My Department issued a response to the letter the Deputy refers to on 30 September. Briefly, the main points of this letter are outlined below. I do not accept that Government support of an institution provides any argument in favour of any particular group. In fact, taxpayers will naturally look to bank employees to understand and respond to the financial situation in which these...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: In the supplementary budget last April, the Government set out a multi-annual plan to correct the public finances. This plan has been welcomed by the European Commission. The immediate need is the stabilisation of the deficit in 2010 and this is Government's proposed aim. This will require difficult decisions to be made for budget 2010 which will presented to the Dáil on 9 December. The...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The table to which Deputy Bruton referred must be read in the context of the speech I delivered at the time of the supplementary budget. Then, I clearly stated the figure for taxation was an absolute maximum and the figure for expenditure reduction was an absolute minimum. I am sure Deputy Bruton would appreciate it is important that a Government keeps its options open in such a matter and...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The Government has decided, and made it clear at all stages, that the €4 billion must be found to comply with our obligations under the Stability and Growth Pact. Apart altogether from our obligations under the pact, the Government has decided the figure is essential, having regard-----

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: -----to the need to stabilise our borrowing requirement at 12%.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: If Deputy Bruton would bear with me a moment.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The Government decided last April that the indicative figure for this year's budget was €4 billion. Having reviewed-----

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: I am about to answer the Deputy's question. Having reviewed the end-September returns, the Government further decided that not only was this requisite to comply with our obligations under the Stability and Growth Pact, it was also essential in addressing the deterioration of the percentage ratio of debt to gross domestic product that was emerging this year. That ratio stands at...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: That is the whole purpose of the budgetary discussions taking place in the Government.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The Central Statistics Office published national accounts data for the second quarter of 2009 at the end of September. These data show that gross domestic product and gross national product fell at an annual rate of 7.4% and 11.6%, respectively, in the second quarter of this year. Combined with the first quarter data, the figures show the annual rate of decline in the first half of the year...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The Deputy asked two broad questions. First, I have not been briefed as of yet about the end of month forecast which will be published in an hour's time.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: The monthly forecasts are not briefed in the same way as the quarterly or the end-November forecast. They are the subject, as the Deputy knows, of a press conference at the Department and are briefed to the Minister in advance.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: I am referring to them too.

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: Generally, the monthly figures are posted on the departmental website. They are not the subject of a separate presentation by the officials or briefing to the Minister. If there were anything out of the ordinary in them, the Minister would be briefed about them specifically. In the case of this month, there is nothing out of the ordinary in the forecasts. As I made clear at the end of...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: There are many matters to which to reply. Briefly, I agree with Professor Blanchflower to the extent that training measures are exceptionally important. However, I should point out that the CSO figures to the end of October will show for the first time that the live register has not increased in the month of October. There is clearly a stabilisation in the growth of unemployment at this...

Fiscal Policy. (3 Nov 2009)

Brian Lenihan Jnr: Yes, heading towards it - it is not reaching that figure. I mentioned the extent to which I agree with Professor Blanchflower. The matter of thousands of shoppers proceeding across the Border had very little to do with a half percentage increase in the VAT rate. It was caused by the fact that there was a very substantial reduction in UK VAT rates, which policy, incidentally, is now a proven...

Oireachtas Expense Allowances. (3 Nov 2009)

Brian Lenihan Jnr: First, it must be stated that Members of these Houses and officeholders incur legitimate expenses as part of their parliamentary duties both in attending Leinster House and as part of their constituency duties. It is appropriate that the amount of any such expense should be kept under review to ensure they are appropriate to reflect the cost of these duties, as well as the prevailing...

Oireachtas Expense Allowances. (3 Nov 2009)

Brian Lenihan Jnr: The Deputy has asked a number of questions. Will he remind me of his first question.

Oireachtas Expense Allowances. (3 Nov 2009)

Brian Lenihan Jnr: The Deputy asked if it is intended to apply similar changes to the expenses of Ministers. The answer is, yes, it is. The Deputy's first question was in regard to Ministers' offices. There are guidelines in existence on the operation of ministerial constituency offices. In respect of those guidelines, there also has been a requirement since April that further savings be made by Ministers...

Oireachtas Expense Allowances. (3 Nov 2009)

Brian Lenihan Jnr: I do not necessarily accept the assumption that, for example, as Minister for Finance, I have fewer opportunities to engage in constituency work than many Members of the House who are not Ministers. There must be some balance in the provision of assistance in that area for Ministers.