Results 13,181-13,200 of 16,537 for speaker:Brian Lenihan Jnr

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage. (24 Mar 2010)

Brian Lenihan Jnr: I cannot interrupt on Second Stage.

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage. (24 Mar 2010)

Brian Lenihan Jnr: It would cover transactions-----

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage (Resumed) (24 Mar 2010)

Brian Lenihan Jnr: ): I will reply to Senator Cummins in the course of my contribution but I want to thank Senators for their comments. I will try to address each of them as best I can. Before doing so I would like to emphasise how the Finance Bill 2010 is crucial to sustaining an environment in which jobs can be created and maintaining our low tax burden on business. That is essential for our...

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage (Resumed) (24 Mar 2010)

Brian Lenihan Jnr: I am not addressing you, Senator Cummins. I am addressing a general point that has been made in public debate. They are doing a grave disservice to the employment opportunities of children in this country in the future if they believe that an unsustainable level of public expenditure on salaries, pensions, transfer payments and benefits can be sustained at the expense of future generations...

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage (Resumed) (24 Mar 2010)

Brian Lenihan Jnr: Thank you, a Chathaoirligh.

Seanad: Finance Bill 2010 (Certified Money Bill): Second Stage (Resumed) (24 Mar 2010)

Brian Lenihan Jnr: No, they are typographical. Question put.

Written Answers — Tax Code: Tax Code (25 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that under the terms of the scrappage scheme, as provided for in section 107 of the Finance Bill 2010, as passed by Dail Eireann, a number of conditions must be satisfied in order for a person to qualify for relief from vehicle registration tax (VRT) when a new passenger car with CO2 emissions of not more than 140g/km (i.e. CO2 band A or B) is...

Written Answers — Economic Growth: Economic Growth (25 Mar 2010)

Brian Lenihan Jnr: The annual percentage change in the volume of GDP and GNP each year between 2000 and 2010 is shown in the table. The figures for this year are the projections which underpin the 2010 Budget. The cumulative increase in the level of GDP between 2000 and 2010 is estimated at 30 per cent; the equivalent figure for GNP is 17 per cent. The latest indications are that economic activity is...

Written Answers — National Asset Management Agency: National Asset Management Agency (25 Mar 2010)

Brian Lenihan Jnr: The National Asset Management Agency (NAMA) is being established to remove the portfolios of risky assets from the balance sheets of relevant institutions. The loans to be purchased will be the land and development loans of these institutions and certain associated loans. Loans secured on hotels will be eligible only if they fall within these categories. I would emphasise that, once a...

Written Answers — Departmental Property: Departmental Property (25 Mar 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 89 and 92 together. My Department has no properties which are being leased to commercial businesses. I have been informed by the Office of Public Works that in the time available they are unable to provide the information requested by the Deputy. As soon as this information is to hand it will forwarded directly to the Deputy.

Written Answers — Tax Code: Tax Code (25 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that, regrettably, due to industrial action by some staff, it is not possible to ascertain the specific details of this case in the time available.

Written Answers — Departmental Contracts: Departmental Contracts (25 Mar 2010)

Brian Lenihan Jnr: The public procurement website www.etenders.gov.ie is the national reference point for all matters relating to public procurement in Ireland. Notices of significant contracts to be awarded by public bodies (normally those of €50,000 and upwards but in many cases as low as €10,000) are published on the website. Many contracting authorities publish advance notice of intended purchases...

Finance Bill 2010: From the Seanad (30 Mar 2010)

Brian Lenihan Jnr: I move the acceptance of recommendation No. 1.

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: I move: That Dáil Éireann: — notes that the Government has taken bold and successful action to address funding problems in the Irish financial system through the introduction of the Bank Guarantee Schemes and to remove the riskiest loans from the balance sheets of the participating institutions through the NAMA process, which has the support of the IMF, the OECD, the ECB and the European...

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: Back then, our banks were on the brink of financial collapse and our economy had gone into reverse. Revenue had fallen steeply and unemployment had risen sharply. For the first time in a quarter of a century, we were experiencing negative growth. Economic activity remains weak and we face further difficult decisions. The crucial difference, however, is that we now have a credible fiscal...

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: The capital requirements that I will outline presently to the House have been set by the Financial Regulator and announced separately by him in the past hour. That is as it should be. We now have in place a more stringent regulatory system overseen by the Central Bank Governor, Professor Patrick Honohan, and the Financial Regulator, Matthew Elderfield. The new fully integrated structures...

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: -----but the fact remains that senior figures in Irish banking made appalling lending decisions that will cost the taxpayer dearly for years to come. As I said in this House last September during the debate on the NAMA legislation, the banks should be extremely grateful for the continued support and forbearance extended by the citizens. They must now repay that debt-----

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: -----by facilitating the economic recovery widely forecast to get under way in the second half of this year. The Government will insist that they do so by supplying credit to viable businesses and households in this State. Today, we are entering the ultimate phase in the resolution of our financial crisis. NAMA has determined the price to be paid for the first tranche of loans to be...

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: -----and EBS, 37%. The weighted average haircut across these institutions is 47%. These discounts have been calculated following loan-by-loan assessments, including legal due diligence, detailed valuation processes and internal and external checking processes, including external audit. The doubters have been proved wrong. NAMA has carried out its valuations in a hard-headed commercial...

Banking System: Motion (30 Mar 2010)

Brian Lenihan Jnr: However, notwithstanding very substantial work under way on the bank's restructuring plan, there are still significant uncertainties about this figure, including the size of the discount on all of its loans transferring to NAMA, the scale of future losses on its loans that are not transferred to NAMA and the exact nature and scope of any split of the bank under its plans and the EU Commission...