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Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (9 Dec 2010)

Brian Lenihan Jnr: The continuation in office is the constitutional phrase. The reduction can take place only during their continuation in office, not on their retirement.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (9 Dec 2010)

Brian Lenihan Jnr: I will.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (9 Dec 2010)

Brian Lenihan Jnr: We have increased it by 1%.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (9 Dec 2010)

Brian Lenihan Jnr: The restriction on pension relief will have a huge impact on the categories the Deputy mentioned.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (9 Dec 2010)

Brian Lenihan Jnr: If the Deputy submits an appropriate proposal, I will examine it for the Finance Bill.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: It is what Deputy Costello will be doing.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: It is fully taxed.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: It is fully taxed.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: No, the Deputy cannot just come in and talk nonsense all the time.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: I suggest eight minutes.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: In responding to the debate, it is important to be very clear about the background to the measures in this Bill. The preamble and recitals to the Bill outline the seriousness of the problems Ireland faces. The economic pressures of the last two years, coupled with the turmoil in the financial sector, have produced a significant deterioration in the Government's budgetary position which must...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Members must accept that this is no longer sustainable, given the economic crisis which has pushed unemployment to new levels. The policies introduced in the boom years, which contributed a great deal to pushing up the cost of employment and reducing Ireland's competitiveness, cannot be maintained. We have to change our approach and tailor what we do to the new economic realities to create...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----about the increase in long-term unemployment, something which makes the need for action all the more pressing. The OECD and other international experts have identified a high minimum wage as a real barrier to job creation.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Perhaps the Deputies might listen to some economic facts. The OECD and other international experts have identified a high minimum wage as a real barrier to job creation.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: No doubt if the Labour Party assumes office-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: ---- it will not reverse this decision. Its leader made clear very recently in a prominent television broadcast that he did not intend to reverse any of the cutbacks-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----or restrictions that were introduced in the past two years.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Studies have clearly pointed to a negative relationship-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----between minimum wages and employment.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: There is evidence that a 10% increase in the minimum wage typically reduces employment by up to 5%.

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