Results 2,721-2,740 of 4,414 for speaker:Sean Barrett

Seanad: Friendly Societies and Industrial and Provident Societies (Miscellaneous Provisions) Bill 2013: Committee Stage (7 May 2014)

Sean Barrett: I will continue on the same theme, if I may. This concerns cessation of formation of new separate loan funds, and after the coming into operation of this Bill, one may not form a separate loan fund. If a party has one already, it will be permitted to keep that in existence. This means we do not want existing societies to develop into more lending, although we may need that in future. The...

Seanad: Friendly Societies and Industrial and Provident Societies (Miscellaneous Provisions) Bill 2013: Committee Stage (7 May 2014)

Sean Barrett: Last week at a meeting of the finance committee I tried to raise the kind of rules mentioned by the Minister of State. A representative of one bank indicated it was currently giving 90% loans on properties and lending up to 4.7 times income. The correct ratios should be 2.5 times income for 80% loans. In introducing a Bill in this House I indicated that such a system operates in Denmark....

Seanad: Friendly Societies and Industrial and Provident Societies (Miscellaneous Provisions) Bill 2013: Committee Stage (7 May 2014)

Sean Barrett: I thank the Minister of State. The Public Service Friendly Society promises guaranteed acceptance for its health benefits. That arose because Government was concerned about selectivity in the area and it brought in a lot of legislation. That is a minor point. There seems to be a complete difference of opinion between what is done in the United Kingdom and here. I hope the...

Seanad: Friendly Societies and Industrial and Provident Societies (Miscellaneous Provisions) Bill 2013: Committee Stage (7 May 2014)

Sean Barrett: Cuirim fáilte roimh an Aire Stáit go dtí an Teach. My hope is that by discussing this issue, we will have some further thoughts on it before Report Stage. Friendly societies have been a major part of the financial life of citizens, particularly the less well-off, a contention for which I will adduce evidence later. It is proposed not to allow the creation of new friendly...

Seanad: Order of Business (7 May 2014)

Sean Barrett: I call the attention of the House to the failure of yet another insurance company, Setanta Insurance, which was put into administration on 30 April and on 1 May will leave many van drivers and motorists uninsured. We raised this issue with the Governor of the Central Bank, Professor Honohan, when he came before the Joint Committee on Finance, Public Expenditure and Reform last week. His...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Central Bank of Ireland (30 Apr 2014)

Sean Barrett: I welcome the Governor, one of my former colleagues. Regulatory capture comes to mind. This must be the worst ever illustration of it. Ireland has an unwanted position in economic journals for the kind of performance which Professor Honohan's predecessor gave. The late Professor George Stigler won a Nobel prize for pointing out that regulatory capture is a form of political corruption...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process (Resumed): Central Bank of Ireland (30 Apr 2014)

Sean Barrett: That was a quote from a Nobel prize winner, the late Professor Stigler. Public interest directors would form the subject of my first question. Public interest directors were supposed to deal with that. My impression is that they are useless, like a lighthouse on the Bog of Allen. Do they ever come to Professor Honohan? They were meant to redress that balance between the public and the...

Seanad: An Update on Situation in Ukraine: Statements (17 Apr 2014)

Sean Barrett: Go raibh maith agat. I welcome the Minister of State to the House, as always. I am trying to recover from the radicalism of Senator Norris's suggestion that Russia should join the European Union. However, it is great to have men of vision in this House and I commend him on his suggestion. In the immediate term, I agree with the Minister of State regarding the elections on 26 May and the...

Seanad: Protection of Children's Health from Tobacco Smoke Bill 2012: Report and Final Stages (17 Apr 2014)

Sean Barrett: The House and Irish society are indebted to the Minister for accepting the Bill and to Senators Crown, Daly and van Turnhout for working on it; to Shane Kenneally, who inspired it; and to Fionn O’Callaghan, for bringing the matter directly to the Taoiseach and for coming up here to speak about it. Is it not a matter for reflection, as Senator Daly said, that this Bill, on which we are...

Seanad: Protection of Children's Health from Tobacco Smoke Bill 2012: Report and Final Stages (17 Apr 2014)

Sean Barrett: When the Minister referred to smoking compromising road safety, I would make the case very strongly that it does. The Minister for Transport, Tourism and Sport, Deputy Varadkar, recently introduced legislation in which he rightly increased the penalties for the use of mobile phones and texting. We should consider the transactions involved in smoking: finding the cigarettes; finding the...

Seanad: Protection of Children's Health from Tobacco Smoke Bill 2012: Report and Final Stages (17 Apr 2014)

Sean Barrett: I echo what my colleagues have said and welcome the Minister. I was inadvertently working on his behalf as the tobacco lobbyists are about again and were asking for interviews. However, I will not let the Minister down in the cause. I just told them to send in whatever papers they have and I would read them. However, I do not wish to be lobbied by the tobacco industry. I think we are ad...

Seanad: Order of Business (17 Apr 2014)

Sean Barrett: Hear, hear.

Seanad: Order of Business (17 Apr 2014)

Sean Barrett: In the light of the peak of friendship in relations between Ireland and the United Kingdom after the highly successful visit by President Higgins to the United Kingdom last week, I seek a debate on Northern Ireland in which I ask the Acting Leader to invite the Tánaiste to participate. It is important that this time the momentum of goodwill is not lost. The relations between our Head...

Seanad: Commission of Investigation (Certain Matters relative to An Garda Síochána and other persons) Order 2014: Motion (16 Apr 2014)

Sean Barrett: I welcome the Taoiseach to the Seanad and compliment him on the commission of inquiry and the proposed independent police authority and open competition for the new Garda Commissioner. Mr. Justice Nial Fennelly has been appointed to the process. Of the 17 letters of the alphabet used, 15 referred to the phone issues. The Law Society has indicated that a commission of investigation must...

Seanad: Electoral (Amendment) (No. 2) Bill 2014: Second Stage (16 Apr 2014)

Sean Barrett: I, too, welcome the legislation. The Minister has summarised it very well that there is an alternative view of bankruptcy as a protection or remedy rather than a punishment. We had many late-night discussions on the issue of insolvency with the Minister for Justice and Equality and it was interesting to see how the matter had evolved. We must question what caused the bankruptcy. Was there...

Seanad: Order of Business (16 Apr 2014)

Sean Barrett: I join the Cathaoirleach in welcoming the Lord Mayor to the House. The post dates back to 1229, which is 15 years short of 800 years. I welcome the Lord Mayor's interest in programmes such as the vibrant villages series, to which Senator Bacik referred, and his support for a plebiscite for a directly-elected Lord Mayor. I thank him for being a generous host to Senator Whelan and other...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Sean Barrett: I welcome the Minister. When will we have page 47, the blank page, and what is the Minister thinking of putting into it? It is the summary of progress on Ireland's national reform programme.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Sean Barrett: I raise it because the reform agenda is still hugely important. The Chairman might-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Sean Barrett: On the reform of banking, Mr. Boucher and co. were before the committee last week and they are still talking about 90% loan to value and 4.5% loan to income. Both of those are too high. Again, we have the ingredients for a property bubble, and we need controls on the way those institutions operate. What worries me when I see large property supplements in papers is that many of these...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Irish Stability Programme Update: Minister for Finance (15 Apr 2014)

Sean Barrett: I do not want to keep the Minister from his next appointment but-----