Results 2,541-2,560 of 4,414 for speaker:Sean Barrett

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I move amendment No. 10: In page 13, between lines 19 and 20, to insert the following:"(5) No letters of comfort will be issued pertaining to Ministerial guarantees under this section.".The purpose of this amendment, which relates to ministerial guarantees, is to rule out the kind of informality that has been criticised by the Comptroller and Auditor General and the Committee of Public...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I thank the Minister for his reply. As he has said, this is being provided for on a much firmer basis. It would be a great day for the country if the Oireachtas were never to mention "letters of comfort" again and if they were not to exist anymore.

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I move amendment No. 5: In page 9, to delete line 38.The purpose of the amendments is to afford the Minister the option of a mixed model rather than the current set-up as stated in the Bill, which states: "The Minister shall be the sole shareholder." I commend him on getting AIB and KfW involved. Does a mixed model facilitate the Minister in the goals we share? That is the purpose of the...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I thank the Minister for his reply. The objective was that they might help the Bill, and I accept his response that they are not helpful at this stage. I wish to give notice that I shall not move amendments Nos. 6 and 8, as both have been covered by the Minister's reply to this amendment.

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I move amendment No. 4: In page 8, line 9, after “credit” to insert “other than in personal loans, financial intermediation and for investment in property”.I welcome the Minister back to the House. The Minister's formulation of words refers to "the provision of, additional credit in a prudent manner". My amendment was sent in before I heard the Minister's remarks...

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I am very much indebted to the Minister and for that reason I will withdraw my amendment.

Seanad: Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (17 Jul 2014)

Sean Barrett: I move amendment No. 2: In page 6, between lines 16 and 17, to insert the following:"(j) to avoid procyclical investment cycles.".I welcome the Minister to the House. When he was explaining the thrust of these proposals to us the last day, he placed great emphasis on the importance of avoiding pro-cyclical investment cycles. However, this objective is not included in the purposes of the...

Seanad: Order of Business (17 Jul 2014)

Sean Barrett: I echo what Senator Bacik has said. This is the last Order of Business in this term. I thank the Leader, the Deputy Leader and leaders of all of the groups for their courtesy, efficiency and thoroughness with which they conducted the business of the House. We are very proud of this House and acknowledge the debt owed to its Leader. I thank the Cathaoirleach, as always, and his staff for...

Seanad: Order of Business (17 Jul 2014)

Sean Barrett: Hear, hear.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: Senator Hayden is always raising the NAMA stock in the Seanad. We have the numbers. A total of 5,000 were offered and only about 1,000 were taken up. My impression of NAMA is that it is there to keep asset prices up to make banks look better. If the prices had fallen, we would not have this problem. I have paid enough for banks already without having a property price still distorted by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: There was a case in Tuam-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: I think houses were sold recently in Tuam for €20,000, which is even lower than the numbers Mr. Davitt mentioned. That is fine. Compared to living in Salthill, one can live in Tuam and visit Salthill with the money one has saved. Why is Longford regarded as Siberia? All the NAMA houses are in the wrong place. Those commuting distances from Longford to the M50 would not be large...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: I welcome the witnesses. My colleague, Ronan Lyons of Daft.ie, states the problem is the construction industry in Ireland still operates at a higher cost than does its counterpart in Germany. In effect, what one is trying to do, after a massive decline in income, is to make this product affordable. Do the witnesses have views on whether this is because the construction industry had a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: They tell me it is higher than in Germany.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: Why then, if Ronan Lyons's numbers are right, is Ireland more expensive to build a house than Germany? The rest of the Irish economy must compete with Germany straight up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: The Senator will have to explain herself.

Seanad: Court of Appeal Bill 2014: Committee and Remaining Stages (16 Jul 2014)

Sean Barrett: I agree with Senator Walsh in regard to the retirement age. I do not know whether there is truth in what used to be said, namely, that mathematicians peak early and lawyers much later. Perhaps some of these 70 year olds are just coming to their peak. Life expectancy here is heading towards 100 years for females. The explanatory memorandum in referring to section 17 refers to the "usual...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: Does the system operate on the basis that if I get money on Wednesday, for example, it will cost me, say, €30 until I get paid on Friday?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: Of course.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-Budget Submissions: Discussion (Resumed) (16 Jul 2014)

Sean Barrett: Does Ms Fahey agree that the huge interest rates being charged on some loans are a cause for serious concern?