Results 221-240 of 881 for speaker:Peter Power

Debt Relief. (15 Dec 2009)

Peter Power: This money is considered part of official development assistance, ODA, and is counted towards the targets we discussed previously. On the review, I expect -----

Debt Relief. (15 Dec 2009)

Peter Power: The Deputy must appreciate this is a significant contribution to a massive global fund. Many of these countries want to develop, but cannot because they cannot get access to the international capital and bond markets because of their heavy debt burdens. By forgiving this debt, albeit with conditions which ensure they have the capacity and power to maintain sustainable financial economies in...

Debt Relief. (15 Dec 2009)

Peter Power: I agree fully with Deputy Higgins on this issue. Vulture debt is an odious practice and I would welcome any initiative to make this internationally illegal. Debt vulture hedge funds or other funds involved in buying debt on the verge or eve of it being forgiven as part of international debt alleviation is a reprehensible practice. In essence it represents funds in the major financial...

Leaders' Questions (15 Dec 2009)

Peter Power: Will the Deputy listen in silence?

Overseas Development Aid. (15 Dec 2009)

Peter Power: In the budget for 2010, the Government has provided a total allocation for official development assistance of €671 million. Of this total, some €536 million will be administered by the Department of Foreign Affairs and a further estimated €135 million will come from other Departments and Ireland's share of the EU development co-operation budget. This represents a relatively small...

Overseas Development Aid. (15 Dec 2009)

Peter Power: We are simply reflecting the economic reality in which the country currently finds itself. Since 2005, we have been striving to reach the UN target of 0.7% by 2012, which is three years earlier than any other country in the EU. We are therefore three years ahead of the EU's commitment in this regard. However, this commitment was made in very different circumstances. The 2012 commitment...

Overseas Development Aid. (15 Dec 2009)

Peter Power: To repeat the position, if we were to reach the 0.7% target by 2012 we would have had to borrow an additional €150 million this year. Politics does not enter into this but-----

Overseas Development Aid. (15 Dec 2009)

Peter Power: Yes, but does that mean we are justified in borrowing €650 million just to reach a target which is arithmetically not possible at this stage? The Deputy and I both agree that the overseas aid programme is accepted and lauded internationally. We have stabilised it at 0.52%, which is ahead of the EU-15's target at this stage. With regard to the Deputy's additional point, the Taoiseach made...

Overseas Development Aid. (15 Dec 2009)

Peter Power: The Taoiseach made a commitment that we would provide €100 million towards a €2.5 billion EU commitment for fast-track financing.

Overseas Development Aid. (15 Dec 2009)

Peter Power: I was in Copenhagen yesterday and that EU position was seen as being of strong, proactive leadership. In the context of a European Council meeting, the Taoiseach made the point that the breakdown of that will be a matter for a Government decision. However, it will have a real and substantial new additional element to it.

Financial Resolution No.5: General (Resumed). Debate resumed on the following motion: (10 Dec 2009)

Peter Power: He provided €30 million funding on that day.

Written Answers — Overseas Development Aid: Overseas Development Aid (9 Dec 2009)

Peter Power: Last year the Government provided a total budget of €920 million on Official Development Assistance (ODA). This represented approximately 0.59 % of our Gross National Product (GNP), making Ireland the sixth most generous aid donor internationally in per capita terms. This year, the Government had to take the regrettable decision to reduce the allocation for ODA. Total ODA is expected to...

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Second Stage (3 Dec 2009)

Peter Power: As always, it is an honour and a privilege to address the Seanad and listen to Members' views on this important legislation. Senators will remember that the Houses of the Oireachtas Commission came into being on 1 January 2004, following enactment of the Houses of the Oireachtas Commission Bill 2003. The commission has since overseen the smooth running of services in both Dáil Éireann and...

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Second Stage (3 Dec 2009)

Peter Power: I thank Members for their thoughtful, incisive and reflective contributions. It occurred to me during the course of the debate that if ever there were an argument to retain this House, it was justified because of the debate or discussion that had taken place. The Seanad provides an environment in which a more reflective debate can take place that can utilise the undoubted diverse...

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Second Stage (3 Dec 2009)

Peter Power: I said that the Minister for Finance is making proposals in that regard.

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Second Stage (Resumed) (3 Dec 2009)

Peter Power: Senator O'Toole's contribution focused almost exclusively on audit matters. I thank him very much for that contribution, informed as it was by his experience and expertise in this area. Before addressing the proposals he made, the first point to make is that although good corporate governance should apply to all institutions, it does not necessarily mean corporate governance is the same in...

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Second Stage (Resumed) (3 Dec 2009)

Peter Power: I know. That is why I am making a distinction because I do not believe it should be "also" and that the audit committee should report directly to the chairman as well. In trying to explain that, I pointed out that essential distinction. The role of the Secretary General is to account for moneys and to ensure they are appropriately spent. That is not the role of the chairman of the...

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Committee Stage (3 Dec 2009)

Peter Power: I cannot disagree with Senator O'Toole's arguments. While he is not making a formal proposal in regard to the section, there is great wisdom in what he said. Many people would find it difficult to make the distinction.

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Committee Stage (3 Dec 2009)

Peter Power: I am distinctly in the minority, although I agree with Senator O'Toole. He is not proposing to oppose the section. The term "Committee for Procedure and Privileges" comes from a bygone age.

Seanad: Houses of the Oireachtas Commission (Amendment) Bill 2009: Committee Stage (3 Dec 2009)

Peter Power: The architecture of the Commission was established by the Houses of the Oireachtas Commission Act 2003, which is being amended by the Bill before us.