Results 2,961-2,980 of 16,537 for speaker:Brian Lenihan Jnr

Fiscal Policy. (28 Apr 2010)

Brian Lenihan Jnr: I am giving the Deputy clarity now.

Fiscal Policy. (28 Apr 2010)

Brian Lenihan Jnr: We have not raised an issue with the Commission that has not even arisen yet in the treatment of the accounts. That is the crucial point.

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: Preliminary quarterly national accounts data show that the volume of GNP contracted by 11.3% last year. While this was the largest decline on record and represents a very significant decline in our living standards, it was not unexpected. In the December 2009 budget, my Department had assumed a double-digit contraction for GNP last year of the order of 101⁄2 % and a 71⁄2 % decline in...

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: I am not sure what the Deputy's question is because what was said was in the nature of a political statement. The policy of the Government in this matter is, first, to stabilise the public finances. Dramatic progress has been made in that regard. The reduction required in 2009, as a result of the various budgetary measures, was 4% and the envisaged reduction or adjustment is 2.5% this year...

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: The Deputy is well aware there is no point in extending false and deceitful hopes to people, based on false policies, and standing up here every morning talking about jobs when she is incapable of creating a single one. The one thing that will create jobs is making the right economic decisions that will put this economy on a road to recovery. That is in what the Government has been engaged...

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: -----or illusions or magical banks, but real banks that are functioning, competitiveness in the economy, public finances in order-----

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: -----and extensive investment which has been made by the Government.

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: Bank of Ireland is a real bank this week and the Deputy wanted to nationalise it a few months ago.

Unemployment Levels. (28 Apr 2010)

Brian Lenihan Jnr: The position is that the Government has also invested substantially in job maintenance schemes. As part of an overall package, we are investing in training and retraining. There are record numbers in third level education, all of whom are preparing for an economic recovery, which all forecasters claim will be under way later this year.

Financial Institutions Support Scheme. (28 Apr 2010)

Brian Lenihan Jnr: Under the Credit Institutions (Financial Support) Scheme 2008, the remuneration packages of directors and executives, including total salary, bonuses, pension payments and any other benefits, were subject to review by the covered institutions remuneration oversight committee, CIROC, arising from the provisions of the Credit Institutions (Financial Support) Act 2008. Paragraph 47 of the scheme...

Financial Institutions Support Scheme. (28 Apr 2010)

Brian Lenihan Jnr: All of the submissions were received from the covered institutions earlier this year.

Financial Institutions Support Scheme. (28 Apr 2010)

Brian Lenihan Jnr: I understand revised plans have been approved.

Financial Institutions Support Scheme. (28 Apr 2010)

Brian Lenihan Jnr: Revised plans were received from Bank of Ireland, AIB, Anglo Irish Bank, Irish Nationwide and EBS and were approved. I do not have the information relating to Irish Life to hand. Before I became the holder of the shares referred to, I inquired of Mr. Fingleton's position. The legal advice given to the Irish Nationwide Building Society indicated that the 2008 €1 million bonus payment to...

Financial Institutions Support Scheme. (28 Apr 2010)

Brian Lenihan Jnr: Yes, I have. The board received legal advice that it was not permitted to request a refund. That was obtained prior to my assumption of a shareholding in the building society via the special share device. If the Deputy, however, wishes me to reopen the matter with the board, I am prepared to do so.

Job Protection. (28 Apr 2010)

Brian Lenihan Jnr: On 15 April 2010, the High Court appointed full time administrators to Quinn Insurance Limited. This follows the company's decision to consent to the appointment made by the High Court on application made by the Financial Regulator. It is the opinion of the Financial Regulator and Quinn Insurance that this step is in the best interests of policyholders. The company is still able to pay...

Job Protection. (28 Apr 2010)

Brian Lenihan Jnr: Yes, but I think I can throw some light on the questions the Deputy asked. I agree with the Deputy. The Government is very concerned about the preservation of employment, both in the insurance company and in the wider Quinn Group. That is a core concern of the Government, which is the reason we asked the chairman of Enterprise Ireland to take an interest in this matter just before Easter....

Job Protection. (28 Apr 2010)

Brian Lenihan Jnr: If it is a short supplementary I can continue with the Deputy's questions. We then have the question of Anglo Irish Bank and the relationship agreement. As I said in my reply, I am not privy to information on who is bidding in the capacity of any information the regulator would give me from the administrator but I am aware, from the chairman of Anglo Irish Bank, that Anglo Irish Bank is...

Job Protection. (28 Apr 2010)

Brian Lenihan Jnr: Our regulator was in possession of it for transmission to the FSA.

Job Protection. (28 Apr 2010)

Brian Lenihan Jnr: First, in regard to the United Kingdom motor business, as Deputy Burton correctly stated, the learner driver side of the market has been opened and substantial progress is being made on other elements of the motor business. However, the pricing of any policies offered in the United Kingdom must be at realistic levels. That issue has delayed progress somewhat to date but I have been advised...

Anglo Irish Bank. (28 Apr 2010)

Brian Lenihan Jnr: I do not have a preferred approach to the future of Anglo Irish Bank as suggested by the Deputy in his question. Indeed, I made that clear in my reply to the debate on banking which took place before Easter. As I told the House on 1 April 2010, my only concern is to minimise the cost to the taxpayer of Anglo Irish Bank. The Deputy will be aware that Anglo is currently updating its...