Results 11,981-12,000 of 16,537 for speaker:Brian Lenihan Jnr

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: The Deputy asked many questions.

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: Certainly, the purpose of the operation, as I understood it and as discussed in this House, was to ensure greater availability of credit. As to the cost of credit, that, of course, is a matter determined by financial markets. Deputy Bruton knows that perfectly well.

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: It is quite clear that the question of availability and the price of credit are distinct questions, but if credit is more available, credit is thereby cheaper as well.

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: Yes. However, I will not specify rates of interests that should be applied by financial institutions-----

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: -----and that would not be my function under the relevant legislation.

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: That is the reason I would be very careful about banking.

National Assets Management Agency. (3 Dec 2009)

Brian Lenihan Jnr: I do not accept the premises in Deputy Bruton's question at all. The purpose of NAMA, as I made clear at the time, is to clean up the balance sheets of the banks in accordance with the best international guidance on that subject. The President has now signed the necessary legislation, consultations will take place about the appointment of the board with the Opposition leaders and it is my...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: The Exchequer returns for the period to the end of November, which were published yesterday, showed an Exchequer deficit of €22.1 billion. This compared to a deficit of €7.9 billion for the same period last year. The deterioration reflects an €8.1 billion decline in tax receipts along with a €4 billion capital injection for Anglo Irish Bank and the bringing forward of next year's...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: All of the matters referred to by Deputy Burton are being taken into account in the context of preparing the budget. First, as regards the statistics and the projection for those who will be out of work next year, in light of the general economic data available to my Department, a final forecast in that regard will be made on budget day. Conditions in the labour market remain poor, as...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: It is difficult to reply to a statement. I have always made it clear that, in hindsight, I would prefer not to have introduced the rate, given what the UK authorities did in their budget, which was a competitive, aggressive VAT reduction. It was criticised in all the other European states at the time. I did not defend the increase. I made it clear to Deputy Burton, however, that I did not...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: I am not.

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: We are allied to the Liberals now.

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: No, we are allied to the Liberals. The Deputy was not listening.

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: Our allies in the United Kingdom are the Liberal Party. That is where our allegiance lies in the UK. They have a great record in relation to this country.

Tax Code. (3 Dec 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that a periodic informal survey, which provides a snapshot of retail prices for the main excisable commodities observed in market outlets in Dublin and Newry, was most recently carried out on 14 October 2009. A summary of the results of that survey and a number of other surveys since February 2007 are published on the Revenue's...

Cross-Border Differentials (3 Dec 2009)

Brian Lenihan Jnr: No Minister for Finance will ever accept that a sum allocated is grossly inadequate.

Cross-Border Differentials (3 Dec 2009)

Brian Lenihan Jnr: No. However, it must be understood that this is an initial sum. In a matter of this type, what is required is an assessment of the loss and of where insurance cover is available. It would be irresponsible of any Minister for Finance to provide an open-ended commitment at the beginning of such a process. This is an initial sum to deal with the immediate position that has arisen. The...

Cross-Border Differentials (3 Dec 2009)

Brian Lenihan Jnr: First, as a result of introducing the second home levy there has been a substantial increase in the funds available to local authorities last year. Local authorities must take their share in the adjustment and I hope that members of the Deputy's party, which has a rather commanding position in local authorities, will concentrate their minds and energies on making the necessary economies in...

Cross-Border Differentials (3 Dec 2009)

Brian Lenihan Jnr: -----but also to agricultural stocks, businesses and in some cases, to individuals' motor cars.

Cross-Border Differentials (3 Dec 2009)

Brian Lenihan Jnr: It is a write-off.