Results 2,801-2,820 of 4,810 for speaker:Liam Twomey

Seanad: Forthcoming Budget: Statements (26 Mar 2009)

Liam Twomey: I welcome the Minister of State, Deputy Mansergh, back to the House. He is a frequent visitor. He has been coming here so often his attendance is almost as good as when he was a Senator. In terms of the next budget, unfortunately for the Government it will be "damned if it does and damned if it doesn't". We cannot discuss the budget because we do not know the details of it and therefore...

Seanad: Order of Business (26 Mar 2009)

Liam Twomey: That is what the Garda said.

Seanad: Order of Business (26 Mar 2009)

Liam Twomey: It was not in Wexford.

Seanad: Order of Business (26 Mar 2009)

Liam Twomey: I seek a debate on the national debt. In 1997 we tried to spend our way into utopia and that failed miserably. We should put on record that while our national debt is low at this time, the debt of the people, the ordinary men and women in the street, is at an unprecedentedly high level. It was never that high in the 1980s. When one adds the national debt to the debt of the people one will...

Seanad: Order of Business (26 Mar 2009)

Liam Twomey: It does not matter what the debt is in other European countries. I refer to what will happen in this country in the next couple of years.

Seanad: Order of Business (26 Mar 2009)

Liam Twomey: We are planning on borrowing at least another €20 billion a year. We are also planning on supporting the banks to the tune of at least another €20 billion a year. Let us be realistic about where we are putting ourselves. Yesterday the United States Treasury could not sell United Kingdom bonds at auction. We could find ourselves in a similar situation next year. I would not like to be...

Seanad: Telecommunications Services: Motion (25 Mar 2009)

Liam Twomey: I second the amendment. The Minister is aware of the difficulties Eircom faces in providing infrastructure because Babcock & Brown does not have the necessary funding. The national broadband scheme he recently announced has been granted to 3 Ireland. I would like to take issue with some of the points Eircom made at the committee last week. It was stated that it is not possible to get...

Seanad: Order of Business (25 Mar 2009)

Liam Twomey: Mná na hÉireann are not happy.

Seanad: Order of Business (25 Mar 2009)

Liam Twomey: The Leader will have to take in a candle.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: I move amendment No. 3: In page 3, before section 2, to insert the following new section: 2.—(1) Any advance contributions made by the Minister to the Fund shall be confined to the provision of funds to certain financial institutions agreed by a resolution of the Houses of the Oireachtas to constitute critical financial institutions to the provision of financial stability and the flow of...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: It is okay.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: Before we move on from section 2, will the Minister tell me which section of this legislation covers the possibility of the State giving recapitalisation funding to the EBS or Irish Nationwide Building Society since neither trades in shares? Senator Burke referred to this on Second Stage and I do not remember a clear answer being given.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: Are they covered in a separate section?

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: Are they not covered by this legislation?

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: I move amendment No. 4: In page 4, line 26, after "Minister" to insert the following: "having secured the prior approval of each House of the Oireachtas". Before funding is given to anybody, both Houses of the Oireachtas should be made aware of it. In the Minister's speech he said: "This will allow the commission to carry out the necessary due diligence on Allied Irish Banks and Bank of...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: Will the Minister explain that?

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: Bank of Ireland is paying the NPRF €30 million to receive State funding of €3.5 billion?

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: The Exchequer is receiving the €30 million so it has nothing to do with the due diligence report carried out by the NPRF?

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: On the due diligence that will be carried out before this, how much of the other reports will be taken into account? Does the PwC report come into this, does the Farrell Grant Sparks report come into this or does the National Pensions Reserve Fund itself do a complete, different due diligence report? In the past six months we received very variable ideas of how solid or otherwise are the...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Liam Twomey: That is about all we get.