Results 26,161-26,180 of 27,055 for speaker:Darragh O'Brien

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: It is.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: I am sure we all share the deep disappointment expressed by the Taoiseach yesterday following the slap in the face given to the Government and the Irish people by AIB and the Bank of Ireland. I have raised this issue every morning this week, and once again I want to propose an amendment to the Order of Business. We need to call the Minister for Finance or the Minister of State at the...

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Fifteen per cent is still significant.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: There is no point in trotting out the promises made and what is in the programme for Government, because at this stage the programme for Government means nothing. The programme for Government states that any 0.25% rate increase would be subsumed by the banks. There has now been a decrease in rates, yet representatives of the two main banks, as well as ICS Building Society which is owned by...

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: I do not know whether Senator Coghlan interrupted me on behalf of the banks or what, because it seems to me-----

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: -----that it is all very well for the Tánaiste to go on television, feign righteous indignation, beat his chest and say "My God, isn't this awful?", but what is he going to do about it? I am putting the House on notice that we will have a Bill next week which will give the Financial Regulator the powers to ensure that our financial institutions pass on rate cuts. Government representatives...

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: We need the Government to live up to the promises it made. We can forget about the fact that it said it would increase mortgage interest relief to 30% and give another €170 a month to people who are already under ferocious pressure. It did not do that, but it was an election promise and I do not believe much of what was said at that time. Let us bring the Minister to the House today and...

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: The problem is that this is not the only time this will happen. There are other rate cuts on the way, as flagged by Mr. Draghi. Is it to be the case that every time this happens we will be at the beck and call of the banks, asking whether Ulster Bank is passing it on, whether KBC is passing it on and, in particular, whether AIB and Bank of Ireland are passing it on? We need legislation to...

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: What?

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: What did he say?

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Tell me what he said.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Go on.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Looking for what? What is he looking for?

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: The power to make sure the banks pass on the rate cuts. Let us be straight about it.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: A three-line amendment to existing legislation will do it. We will have it next week.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: For God's sake.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: What about mortgage holders? The Government has done nothing in nine months. Nothing. It has broken every promise.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: It is outrageous.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Me too.

Seanad: Order of Business (10 Nov 2011)

Darragh O'Brien: Do something about it.