Results 12,461-12,480 of 19,445 for speaker:Brian Cowen

Written Answers — Departmental Expenditure: Departmental Expenditure (7 Apr 2009)

Brian Cowen: The following table details the cost to my Department of mobile telephony provided to me since May 2008. I have not been provided with PDA services during this period. Year Handset Costs Rental Costs Call Costs Other Total 2008 Nil â'¬114.49 â'¬1,368.31 Nil â'¬1,482.80 2009 to end March Nil â'¬46.17 â'¬99.12 Nil â'¬145.29 All mobile telephony costs which I incurred related...

Written Answers — Departmental Staff: Departmental Staff (7 Apr 2009)

Brian Cowen: Under the terms of Section 5 of the Financial Emergency Measures in the Public Interest Act, 2009, no members of staff in my Department with less than two years service on 1 March 2009 gave notice to terminate their employment before 1 April 2009.

Written Answers — Departmental Staff: Departmental Staff (7 Apr 2009)

Brian Cowen: There are no staff in my Department under temporary employment contracts on a fixed term basis. There are a number of persons in the National Economic and Social Development Office employed under contract. The expiry of a fixed term contract is determined by the terms of that contract. The decision as to whether to renew such a contract depends on a number of grounds, including the...

Leaders' Questions (8 Apr 2009)

Brian Cowen: I reject the contention by Deputy Kenny that the Government has chosen the soft option. All taxpayers are facing difficulties as a result of the supplementary budget we had to introduce yesterday, and we are cognisant of that. At the same time, however, there is a recognition in the country that these are necessary steps. Bringing order back to our public finances is a absolute...

Leaders' Questions (8 Apr 2009)

Brian Cowen: In total, those savings amount to €4.8 billion in the full year. Quite apart from the tax increases, there were also significant expenditure savings which had to be factored into the budgetary equation. With regard to the Deputy's second point, a policy announcement was made by the Minister for Finance, Deputy Brian Lenihan, yesterday about how we can restore confidence in the economy and,...

Leaders' Questions (8 Apr 2009)

Brian Cowen: I am sorry to say that Deputy Kenny's characterisation of the proposal is totally at variance with the facts.

Leaders' Questions (8 Apr 2009)

Brian Cowen: In the course of his statement to the House yesterday the Minister for Finance stated: The potential maximum book value of loans that will be transferred to the agency is estimated to be in the region of €80 billion to €90 billion [although] the amount paid by the agency will be significantly less than this to reflect the loss in value of the properties. In the longer term, if the agency...

Leaders' Questions (8 Apr 2009)

Brian Cowen: If the Deputy wants the answer to the question, he should listen to what I am saying. As I was explaining, the policy announcement was made yesterday. Work will now proceed in regard to the evaluation of what exactly will be paid. The national asset management agency will purchase the assets through the issue to the banks of Government bonds. The amount paid by the agency will be...

Leaders' Questions (8 Apr 2009)

Brian Cowen: The question of the categories and classes of assets is work that will be undertaken by the national asset management agency upon its establishment. It will work with the banks to see which are the appropriate assets to be taken over. What we had yesterday was a policy announcement. I made this point in the debate last night and I wish to put it clearly to the House once more.

Leaders' Questions (8 Apr 2009)

Brian Cowen: Much work has been undertaken by the National Treasury Management Agency, the Department of Finance and by those who advise both bodies, including PricewaterhouseCoopers, Jones Lang LaSalle and others who have been employed during the due diligence process in examining the loan books of the covered institutions. It is estimated by these people that the book value is of the order of €80...

Leaders' Questions (8 Apr 2009)

Brian Cowen: There is a simple point to be made about this. Deputy Gilmore referred to the need to maintain jobs in this economy. If we are to maintain jobs and get back to the functioning economy we all want to see, there must be a functioning banking system. Every businessman trying to maintain and grow jobs requires access to sufficient credit in order to do his business and grow his enterprise.

Leaders' Questions (8 Apr 2009)

Brian Cowen: That is not possible at the present time due to the overhang in the banking system. It is what it is and it must be dealt with. Refusal to deal with it, as has been the Labour Party's view in regard to every proposal since we sought to deal with these problems-----

Leaders' Questions (8 Apr 2009)

Brian Cowen: Refusal to deal with it means the problem will continue and credit will not be available in sufficient funds to Irish business. We must deal with that problem. We are simply talking about transferring that problem into the national asset management agency which will work it out over a longer period. In respect of any loss that might arise as a result of that process, there will be a levy...

Leaders' Questions (8 Apr 2009)

Brian Cowen: The problem will not be resolved by simply complaining and not doing anything about it. It has to be resolved on the basis of the consensus advice available from both the National Treasury Management Agency and the Department of Finance.

Leaders' Questions (8 Apr 2009)

Brian Cowen: Those who advise confirm that this is the best way to deal with the problem that we have. It is similar to what Sweden had to do in the 1990s-----

Leaders' Questions (8 Apr 2009)

Brian Cowen: -----and to what other economies had to do when there was a banking crisis.

Leaders' Questions (8 Apr 2009)

Brian Cowen: That is what we have to do. We must face up to it and get on with doing the job, taking the best advice from those who work for us in this area. If there is one agency that has been a resounding success in terms of carrying out the remit given to it by the State it is the National Treasury Management Agency.

Leaders' Questions (8 Apr 2009)

Brian Cowen: I have full confidence in that organisation setting up this agency for the purpose outlined so that we can try to get back to the real economic effects brought about by the current situation.

Leaders' Questions (8 Apr 2009)

Brian Cowen: Nothing has been decided.

Leaders' Questions (8 Apr 2009)

Brian Cowen: I say to Deputy Gilmore, in all seriousness, I reject with contempt-----