Results 25,981-26,000 of 26,350 for speaker:Darragh O'Brien

Seanad: Order of Business (16 Jun 2011)

Darragh O'Brien: It is up to the Government to provide speakers also.

Seanad: Order of Business (16 Jun 2011)

Darragh O'Brien: It is on the basis that I do not want it to be stated in the House that the Opposition did not play its part in the debate yesterday.

Seanad: Order of Business (16 Jun 2011)

Darragh O'Brien: Today we have reached the 100th day of the new Government. I do not want to dwell too long on that as it is not necessarily appropriate to fill out a report card on a Government after 100 days, but the incoming Government made a big issue of the first 100 days. It is, therefore, important to note that with regard to the EU-IMF programme in particular, the rate cut remains outstanding. I...

Seanad: Order of Business (16 Jun 2011)

Darragh O'Brien: If the Senator was listening, she would have heard me mention previous Governments. It is wrong to do it now and it was wrong for previous Governments to do it.

Seanad: Order of Business (16 Jun 2011)

Darragh O'Brien: It is a pity the Minister, Deputy Reilly, sees it fit to make these announcements to the media rather than to the elected Members of the Oireachtas. In fairness, the Minister has come to this House to deal with agreed legislation but I would like him to discuss, in the House rather than in the media, cuts in hospital services in Sligo General Hospital and others I mentioned. Every time we...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: That sounds like Soviet republics which take people's savings as well.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: I was in school then.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: Finally-----

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: We have and, in fairness, I do not want to delay the debate any further. The Minister of State made the point as to why the Government should accept these recommendations. He said the pensions should find a way to absorb this fee. If so, why in God's name let them off the hook by stating in the Bill that the Minister can adjust benefits within an existing scheme for people who are due to...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: I am glad to hear that because we might be able to find a way of dealing with this matter. As the Minister of State said, under current legislation the Revenue Commissioners are entitled to review any approved pension schemes, which is fine. They can write to any administrator and say they want to review any schemes, as can the Pensions Board. What therefore will the Revenue Commissioners...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: That is useful information, but I must pose a question on the basis of the Minister of State's briefing note. Is he saying that no one member in the scheme can pay more than 0.6% or the equivalent reduction in their entitlements? This is an important point because if that is to be the case, I want clarification on it.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: That person individually?

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: Not all of them.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: I was glad of the Minister of State's clarification on the maximum charge being 0.6% of the assets of a fund. I want to put to bed this idea that in all instances this 0.6% is a small charge and a small imposition. Is it correct that based on the 0.6% charge on an average pension fund of someone who has been contributing to a fund for 30 years plus, he or she could be looking at up to a 9%...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: Some 1.5% over 10 years.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: A reduction in their pension benefit.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: I am not saying that.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: Same as ARFs, which are exempt.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: Recommendation No. 9 seeks to ensure that benefits agreed in respect of current schemes will not be reduced by a scheme's trustees in order, effectively, to pay the levy. As stated on Second Stage, an average sized company might have a scheme which has been in operation for 20 to 30 years and this might incorporate a mix of retired members - with their retained benefits - and members who are...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Darragh O'Brien: The overall point I make is that someone who has been a member of a scheme for a long period will obviously pay more. We have already discussed my views on the levy and the inequality relating to it. The Minister of State must recognise that the larger the scheme, the greater will be the charge upon it. In the context of the levy, we are discussing work schemes which, in the main, are...