Results 15,721-15,740 of 16,537 for speaker:Brian Lenihan Jnr

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: I do not want to see the reduction in the tax being used by airlines as an opportunity to raise their fees and charges. In conjunction with this initiative, the Dublin Airport Authority is prepared to introduce an incentive scheme for Shannon, Cork and Dublin Airports for 2011, to provide, subject to certain conditions, a full rebate of airport charges for any additional traffic above the...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: I have also decided to extend the VRT relief for series production hybrid and flexible fuel vehicles for two years to end-2012. The rate of relief provided will be up to €1,500. The VRT relief for plug-in hybrid electric vehicles will continue at up to €2,500 until 31 December 2012. A review will be undertaken of the excise duty payable for licences for on-trade and off-licence sales of...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: This is not the case. As the Governor of the Central Bank has previously indicated, over the period 2008 to 2012, the total loan losses of the domestically-owned banks are expected to reach €70 billion to €80 billion, equivalent to approximately half of this year's GDP. Loan losses on this scale are unforgivable. They reflect the recklessness of lending decisions during the bubble...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: There is a limit to burden-sharing. As I said in this House last week, there is simply no way this country, whose banks are so dependent on international investors, can unilaterally renege on senior bondholders against the wishes of the our European partners and the European institutions. This course of action has never been an option during this crisis. It is true the State has had to...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: The job of the Government on behalf of the State is to ensure that the common good is served. That requires saying "No" at least as often as saying "Yes".

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: There has been much public debate about political reform during the current crisis; some of it has been the stuff of cheap headlines, and some of it has been constructive and innovative. Any reform proposals, whether they relate to the Dáil electoral system, the future of the Seanad, the composition of Departments or the size of Government, must have as their objective the pursuit of the...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: This is my fourth budget in that period. In every measure that has been introduced on behalf of the Government, we have sought to stabilise our public finances. In doing so, we have sought to protect those most in need. Analysis using the ESRI model has shown that the measures I have introduced on behalf of the Government's have been progressive and have distributed the burden of...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: In the period leading up to the crisis, the construction sector and property prices grew to unsustainable levels. The appetite of a rampant building industry for labour and other resources put upward pressure on our cost structure. As a result, our competitiveness was damaged and we lost market share for our goods and services.

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: Excessive public spending on the back of the enviable but transient taxes of the boom added to the overheating of the economy. A huge expansion in bank borrowing for property and construction-related investment was the final and most lethal domestic ingredient in the causes of our crisis.

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: The international financial crisis added pace and severity. The Government has accepted that analysis: more should have been done to counter imbalances in our economy. I am not convinced that any alternative government would have done better.

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: We have taken steps to ensure that the mistakes that led to this crisis will never be made again. We have broken with precedent in key appointments. Professor Patrick Honohan, our foremost academic expert on banking, is a widely regarded Governor of the Central Bank. Mr. Matthew Elderfield, a highly qualified and experienced professional, is our new Financial Regulator. We have introduced...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: We have acknowledged our mistakes, worked might and main to rectify them and put in place the measures to ensure that these mistakes can never be made again. Our country must now move forward with confidence and purpose. The underlying strengths of our economy, built up over many years by our citizens and by the actions of successive governments, have survived this crisis. We continue to...

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: We can emerge from this dark time as a stronger and fitter economy to provide sustainable jobs and decent public services for all our citizens. There is every reason to be confident about the future-----

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: -----of this economy and this country if we only have confidence, belief and faith in ourselves. I commend this budget to the House.

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: The Deputy should read page 2 of my statement.

Budget Statement 2011 (7 Dec 2010)

Brian Lenihan Jnr: Would the Fine Gael Party have given us a pair today?

Written Answers — Election Management System: Election Management System (7 Dec 2010)

Brian Lenihan Jnr: Under the Electoral Acts, the Minister for Finance indicates a time when, and the manner and form in which, accounts are to be rendered to him after an election. Returning Officers are required to finalise their accounts not later than 6 months after an election. In the case of Donegal South-West, this would not be until 25th May 2011 at the latest. Therefore, it will not be possible to give...

Written Answers — Public Sector Staff: Public Sector Staff (7 Dec 2010)

Brian Lenihan Jnr: Under the Central Bank of Ireland Act 1942 (as amended), the employment of staff in the Central Bank is a matter solely for the Central Bank Commission and the Governor and is not a matter in which I have a role. However, I have been informed by the Central Bank that the total number of staff taken on by the Irish Financial Services Regulatory Authority or the Central Bank to work on...

Written Answers — Departmental Staff: Departmental Staff (7 Dec 2010)

Brian Lenihan Jnr: Since my appointment as Minister for Finance on 7 May 2008 the relevant staffing details are as follows: Name Title Salary Range Duties Pension Arrangements Alan Ahearne Special Adviser €88,490 -€109,455 Any duties which may be assigned to him from time to time as appropriate to the position of Special Advisor as set out in Section 11 of the Public Service Management Act 1997. No...

Written Answers — National Lottery: National Lottery (7 Dec 2010)

Brian Lenihan Jnr: The National Lottery Act 1986 provides that the surplus generated by the National Lottery be transferred to the Exchequer. The surplus is the total income from lottery sales after deduction of prizes and allowable costs. The surplus for each of the years 2007 to 2009 is as follows: 2007 €245m 2008 €268m 2009 €264m Section 5 of the National Lottery Act 1986 provides that the...