Results 12,921-12,940 of 16,537 for speaker:Brian Lenihan Jnr

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: What has been put in place for senior debt is our envisaged response to the issue and there is no room for any doubt about that. Where I expressed a doubt related to wider European developments; what has been done on senior debt has been agreed with the Commission. That is our position. The issue I raised was if developments through the European area might dictate a change. I could not...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: As the Deputy will be aware a detailed and comprehensive legal and regulatory framework is in place in Ireland for the regulation and supervision of the financial services sector. This framework is underpinned by an extensive series of EU directives governing the conduct of financial services activities on a cross-border basis within the EU Single Market. Clearly, an effective system of...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: The Deputy has gone beyond the remit of the question but I am happy to deal with the additional matters raised. In regard to boards of directors, there has been substantial change in personnel and this process will continue. The entire board of Anglo Irish Bank changed when the bank was nationalised, with one exception who had been appointed a few weeks earlier. We have also seen...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: The first element of public confidence was established by the appointment of the new regulator, who has certainly inspired confidence in all his actions to date. As I indicated to the House yesterday, I intend to ensure any legislation introduced enhances his independence and freedom of action and ensures that a credible statement is made both at home and abroad about the proper regulation...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: Responsibility for these matters rests not with the Government but with the bodies entrusted with instituting charges. It would be a criminal offence for me to contact the Director of Public Prosecutions on this matter. Legislation to this effect was enacted by a national coalition Government in 1974. I have limited scope for initiative in this area. The other bodies mentioned jealously...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: My Department has already changed its organisational structure and its deployment of staff in response to recent events in the economy and the financial system. It has demonstrated considerable flexibility in dealing with these issues. I am satisfied with the performance of my Department, especially in light of the extraordinary demands placed on it in the period since I came to office....

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: I do not accept the existence of the void to which the Deputy referred. The public service reform agenda is central to the work of my Department. The way in which it will be managed in the future has been discussed between the Taoiseach and me, but it is a matter for the Taoiseach, as leader of the Government, to make final decisions on this matter and I will not pre-empt those. I should...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: -----I entirely rebut the suggestion that there is no economic strategy in my Department. The consensus of international commentary in recent months demonstrates clearly that there is in operation a very definite strategy that has commanded considerable confidence and support outside this country. What we must do is translate that confidence and support in Ireland that is manifesting itself...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: I indicated in my written reply of 19 January last that of the 560.78 whole-time equivalent staff at my Department at the end of 2009, there were 57 officers who held degrees in economics and related disciplines, 44 who hold a master's-graduate qualification in economics and related disciplines, and two who hold a PhD. Specifically in the banking area, the Department retained two banking...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: I do not accept a suggestion that the performance of my Department is underwhelming. I want to put on the record of the House my acknowledgement of the long hours spent by many senior officers of my Department in tackling the problems. Deputy Burton has been given many opportunities to brief herself by my officials on various aspects of our economic problems. As she will be aware, I am not...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: This is a charge against civil servants in the House and I am entitled to deal with it.

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: I can get that data for Deputy Burton.

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: First, I must get the information sought by the Deputies. Qualification is an ongoing process in any Department, although I would have doubts about the capacity of the senior persons in the Department of Finance to undergo further qualification and study at present given the volume of business that they must transact. There is ongoing education and training in any Department, and especially...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: There has been a great deal of public service reform in the past year and a half, and very difficult decisions had to be taken by the Government on the core issue of remuneration in the public service.

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: It was a fundamental and difficult change. Indeed, it is the change that has excited international approval because it is seen as a Government clearly in command. That is the most important message that Ireland must send out at present. We are holding an inquiry into banking, and no doubt we will have an inquiry into other matters. The scope of that inquiry will give ample time to look...

Pension Provisions. (10 Mar 2010)

Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest (No. 2) Act 2009 made provision for a reduction in the salaries of public servants with effect from 1 January 2010. Under section 6 of the Act, I varied the application of the pay reductions for the assistant secretary and deputy secretary grades in the Civil Service, and related public service grades, to take account of the reduction...

Pension Provisions. (10 Mar 2010)

Brian Lenihan Jnr: The error in what Deputy Bruton suggests this afternoon is that there has been no change in pension entitlements. Pensions are linked to the previous rates. There has been no change in the basis of the calculation of pension and, therefore, no question of discrimination can arise. Everyone, for pension purposes, has been treated in the same way as they were treated before the budget, and...

Pension Provisions. (10 Mar 2010)

Brian Lenihan Jnr: That is the position and, therefore, there is no question of a discrimination having arisen.

Pension Provisions. (10 Mar 2010)

Brian Lenihan Jnr: I welcome Deputy Bruton's interruption. However, no final decision has been taken on how the pension issue will be addressed and, therefore, it is incorrect to suggest that there is any discriminatory effect at this stage.

Pension Provisions. (10 Mar 2010)

Brian Lenihan Jnr: We dealt with this matter on the last Question Time. Today's question relates to pension provisions. I do not believe there is any profit in going over the same ground again; suffice to say that the former bonus arrangement was treated as remuneration for the purposes of a particular grade that was benchmarked. If the bonus were withdrawn from this grade, it would have had a greater...