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Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: What is meant by section 6 (1), which states: "There shall be a National Lottery held on behalf of the Minister..."? I am not being facetious but I did not know that the Minister was so hard up that he needed a national lottery for himself.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: Will it be held on the Minister's behalf?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: Yes, if they are going around.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: What is it? Will the Minister explain it?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: I support the amendment for all the reasons that have been stated already. I have a question about the troika. The Minister stated he had discussions with the troika about this matter and that he had secured the ring-fencing of this particular disposal and that it would be treated differently from others. Will the Minister elaborate on the discussions? How it is being treated differently?...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: That is it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: I do not accept what the Minister has said. The Minister is putting the licence for the national lottery on the market, if nothing is changing what is the selling point? Why would a purchaser make a large upfront payment? If there is nothing in it for the purchaser why would they bother buying it?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: That is the point.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: An Post was paid a set fee.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: It is not because one is a moving profit line.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: The difference is that there is a moving profit line. That means the whole dynamic of the lottery will change. If nothing is changing why do we need to introduce new legislation?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: Chairman, I have made my points, but may I add a further point? May I raise the issue of the regulator?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: The Minister was probably saying that himself at the time.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: I am for.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: The Minister uses the argument of economic circumstances to justify many things. He then goes on to make the argument that this is good legislation because it will inject dynamism into the lottery for the times we are in. The implication is that the current lottery model is getting a bit tired and could do with an injection of new life. The amount of funds generated by the current model...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: National Lottery Bill 2012: Committee Stage (27 Mar 2013)

Richard Boyd Barrett: I utterly oppose this Bill and the mood that lies behind it. It is wrong to sell State assets in general. Why would we give away an asset, particularly at a time when the State and the economy are in such difficulties? The national lottery has generated enormous revenues for the State over many years and it has supported a wide range of good causes. I see no justification for changing...

European Council: Statements (27 Mar 2013)

Richard Boyd Barrett: As is typical of the Government, the Tánaiste has tried to distance himself from the crisis in Cyprus and said it is different here. I refer to an article in The Irish Times, which quotes a German banker who headed up the Deutsche Bank London operation and who was involved in the IFSC:Instead of having to go all the way to Wall Street, German banks soon found a casino in their own euro...

European Council: Statements (27 Mar 2013)

Richard Boyd Barrett: Is it not true that the Government has done the unthinkable by protecting the bondholders and corporate depositors and inflicting all the pain on ordinary householders-----

European Council: Statements (27 Mar 2013)

Richard Boyd Barrett: -----while the people of Cyprus have forced the troika to back off in its efforts to do the same in Cyprus?

European Council: Statements (27 Mar 2013)

Richard Boyd Barrett: Why do German bankers think so?

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