Results 15,241-15,260 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — National Asset Management Agency: National Asset Management Agency (9 Nov 2010)

Brian Lenihan Jnr: NAMA has advised that it is currently reviewing business plans for the largest 30 debtors whose loans it has acquired. Part of that process involves addressing the unsustainable and unrealistic level of debtor overheads which had been permitted by the participating institutions. As part of the debtor business plan process, NAMA has typically required debtors to reduce their business overheads...

Written Answers — National Asset Management Agency: National Asset Management Agency (9 Nov 2010)

Brian Lenihan Jnr: The recently-published NAMA Quarterly Report for the second quarter indicated that 29% of NAMA loans (by reference to nominal loan values) were performing as at the end of June 2010. Performing loans are defined as loans which, by reference to original contractual obligations, are not in arrears or where the arrears are outstanding for less than 30 days. For all debtors, the original loan...

Written Answers — Departmental Contracts: Departmental Contracts (9 Nov 2010)

Brian Lenihan Jnr: There is no general requirement that companies applying for public contracts provide three year financial statements of accounts. Under public procurement guidelines, contracting authorities are required to ensure that recently established firms, or firms with no previous experience of public contracts, are not excluded from public tendering. It is, of course, essential that contractors...

Written Answers — Departmental Reports: Departmental Reports (9 Nov 2010)

Brian Lenihan Jnr: The Deputy will be aware that the Expert Group submitted its Interim Report to me in early July. The Government having considered the Report decided to accept all of the recommendations. I understand that good progress has been made in regard to the implementation of the recommendations. Since then the Expert Group has been working towards completion of its Final Report. I am informed...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Nov 2010)

Brian Lenihan Jnr: As I have previously said, the management of assets by Bank of Ireland, including the holding or display of artworks, is a matter for the Board of the Bank. I understand that the Bank's art collection dates back to the early 1970's and its primary purpose was to support emerging Irish artists rather than to create a corporate collection per se. Many of the important works were already...

Written Answers — National Asset Management Agency: National Asset Management Agency (9 Nov 2010)

Brian Lenihan Jnr: NAMA has given its authorisation to participating institutions to initiate enforcement proceedings against fifteen debtors whose loans have yet to transfer. In the case of one other debtor whose loans have been acquired, NAMA has initiated proceedings directly.

Written Answers — Pension Provisions: Pension Provisions (9 Nov 2010)

Brian Lenihan Jnr: The Minister for Finance has statutory responsibility for civil service pensions and for pensions paid from the Central Fund. Statutory responsibility for other public service pension schemes is a matter in the first instance for the respective Ministers in other Departments, as appropriate. The data is currently being prepared and will be provided to the Deputy as soon as possible as it...

Written Answers — Daylight Savings Time: Daylight Savings Time (9 Nov 2010)

Brian Lenihan Jnr: Arrangements for changing clocks to both winter and summer times are dealt with at local level by staff working in individual buildings. Such arrangements may, on occasion, include specific requests to OPW due to the positioning of clocks in order to deal with the matter in a safe way. The man hours and the associated cost involved in each individual task is minimal in nature.

Written Answers — Tax Code: Tax Code (9 Nov 2010)

Brian Lenihan Jnr: The air travel tax was one of a number of Budgetary measures introduced that was necessary in the context of an overall response to the fiscal challenges we face and represents a genuine effort to broaden the tax base in a fair and equitable manner. I have stated before that the impact of the tax on passenger numbers is being overstated. As the Deputy will be aware, both Germany and Austria...

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: Our expenditure is well in excess of our revenues and this gap, currently being filled by borrowing, needs to be reduced to a sustainable level. This is not just to ensure we retain market confidence but also because it is sensible economic policy. The more we borrow, the higher the cost of servicing our debt and the fewer resources we have to direct elsewhere. My Department monitors...

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: The reason behind the increase in the consolidation required is outlined in the information note on the economic and budgetary outlook Deputy Noonan received last week. It was published last week. The main reason is a smaller economy with lower than expected levels of nominal growth. I was certainly not prepared to suddenly announce a departure from the existing target without the most...

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: Yesterday?

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: Every time the Deputy refers to body language on the part of officials or Commissioners, I become suspicious. Body language is used here as a cover for the substitution of the Deputy's opinion. He drew an inference from the Commissioner's body language and did something similar in regard to his encounter with my officials. He inferred from their body language that they wanted a greater...

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: These are sensitive matters.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: My officials outlined to the Deputy three different scenarios.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: When it was put to him that they preferred one, he referred to body language as the basis for his conviction.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: The Deputy did.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: That is the position. There was no political pressure exerted.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: If the Deputy speaks to my officials, he will find no such direction.

Budgetary Outlook (10 Nov 2010)

Brian Lenihan Jnr: He will find no such direction.