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Order of Business (Resumed) (17 Nov 2009)

Brian Cowen: We have indicated our preparedness to travel on the basis of the work that is ongoing and that we hope we will be in a position to pursue a deal at Copenhagen. Obviously, all Heads of Government are indicating their preparedness to travel on the basis that a deal will be possible. We must await the outcome of the negotiations.

Order of Business (Resumed) (17 Nov 2009)

Brian Cowen: There is no date for Nos. 57 and 58. No. 56 will probably be introduced next year.

Order of Business (Resumed) (17 Nov 2009)

Brian Cowen: That is a matter for the Houses.

Order of Business (Resumed) (17 Nov 2009)

Brian Cowen: It is a matter for the House.

Order of Business (Resumed) (17 Nov 2009)

Brian Cowen: Legislation is being prepared on the proposal to bring together the Central Bank and the financial regulatory agency. I cannot state the date when it is expected to be published because obviously it must be considered by the Government. The work is ongoing and will be dealt with as quickly as possible.

Pre-budget Outlook: Statements (17 Nov 2009)

Brian Cowen: I am glad to have an opportunity to contribute to this debate, albeit for just ten minutes. The Minister for Finance has set out as per the pre-budget outlook the basic parameters within which we must operate. The narrative being suggested here is that nothing has been happening since this Administration took over which is at variance with the facts. We have taken corrective measures. In...

Pre-budget Outlook: Statements (17 Nov 2009)

Brian Cowen: When they talk about the need to avoid a bubble, we all know their policies meant exactly that in the last election. The important point is about correcting our public finances. It is also about regaining competitiveness in our economy and maintaining and creating jobs. The Government will examine all areas whether it be the tourism sector or the construction sector particularly after the...

Written Answers — Innovation Fund Ireland: Innovation Fund Ireland (17 Nov 2009)

Brian Cowen: Introduction of 'Innovation Fund Ireland' is a commitment of Building Ireland's Smart Economy - A Framework for Sustainable Economic Renewal and the Renewed Programme for Government. It aims to ensure greater availability of venture capital to help achieve our vision for transforming Ireland into the innovation and commercialisation hub of Europe by supporting innovative SMEs and help scale...

Written Answers — Departmental Reports: Departmental Reports (17 Nov 2009)

Brian Cowen: The NESF has commissioned and published 34 Reports from 2000 to-date in 2009 and they are listed in the table below. Copies of reports are available in the Oireachtas Library as each NESF Report is laid before both Houses of the Oireachtas and further details are also available from the NESF website (www.nesf.ie). My function in respect of the NESF Reports is to present them to Government...

Leaders' Questions. (18 Nov 2009)

Brian Cowen: As Deputy Kenny stated, this matter was debated yesterday. Obviously, we will assess constructive proposals from any party in the House in respect of these matters. I do not wish to dismiss or guarantee the Deputy that Fine Gael's proposal will feature in the taxation proposals from the Minister for Finance who will make the decisions in this regard, bring them before Cabinet following...

Leaders' Questions. (18 Nov 2009)

Brian Cowen: This Government is committed not simply to a book-keeping exercise, as the Deputy suggests, but to making sure the economy returns to growth as quickly as possible. Part of this is a correction in the public finances. With regard to taxation policy, this Government has always been committed to ensuring that we maximise the prospects for employment and allowing people to retain the greatest...

Leaders' Questions. (18 Nov 2009)

Brian Cowen: I do not have the figure sought by the Deputy in his last question; that is a matter to be taken up with the Minister for Finance in a parliamentary question. The cap we introduced was in respect of the appointment of new personnel to the position of CEO or other senior positions. There was no proposal from the Minister for Finance in which the Government was asked to approve a salary...

Leaders' Questions. (18 Nov 2009)

Brian Cowen: Deputy Gilmore would know an awful lot more about the old guard than I would.

Leaders' Questions. (18 Nov 2009)

Brian Cowen: I will answer the question. Regarding the arrangements put in place at Allied Irish Banks, with the agreement of the Minister for Finance, Mr. Dan O'Connor, currently non-executive chairman, is to take on the role of executive chairman on a temporary basis in order to oversee the bank's work on the completion of the key task of capital raising, the implementation of NAMA and the EU...

Leaders' Questions. (18 Nov 2009)

Brian Cowen: Mr. Doherty will be responsible for the day to day running of the bank and has agreed to take up his new role for a salary of €500,000.

Leaders' Questions. (18 Nov 2009)

Brian Cowen: In addition, the AIB group chief executive, Mr. Eugene Sheehy, is to retire on 30 November.

Leaders' Questions. (18 Nov 2009)

Brian Cowen: These appointments are part of a wider series of management changes with the emphasis on attracting new external talent. This will deliver the vital combination of internal and external experience and perspective necessary to ensure-----

Leaders' Questions. (18 Nov 2009)

Brian Cowen: -----that AIB's culture, structure and management team is ideally equipped to lead the bank through this critical period.

Leaders' Questions. (18 Nov 2009)

Brian Cowen: These include Dr. Michael Somers, the chief executive of the National Treasury Management Agency, who will be appointed to the AIB board as deputy chairman. He will also chair the AIB board risk committee. Dr. Somers will take up his new post on completion of the regulatory-----

Leaders' Questions. (18 Nov 2009)

Brian Cowen: Mr. David Pritchard, currently AIB deputy chairman, is to step down from that post. The board wishes to express its thanks to him. He will retain the role of senior independent director.

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