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Leaders' Questions (8 Jul 2009)

Joan Burton: The Taoiseach should try it with us. We could understand it, although those on the Government side may not.

Leaders' Questions (8 Jul 2009)

Joan Burton: He also said that NAMA would be a costly disaster.

Leaders' Questions (8 Jul 2009)

Joan Burton: The Taoiseach should read the full contribution. It is on the record.

Order of Business (8 Jul 2009)

Joan Burton: Will the Taoiseach indicate if the Government has reached a decision on when the Commission on Taxation report will be published? I understand it is due for completion by the end of this month and I want to know if the Government intends to publish it. It is important that the report and its working papers would be published because since the last two budgets we have had a proposed car...

Order of Business (8 Jul 2009)

Joan Burton: -----and a mobile home tax that failed and disappeared also.

Order of Business (8 Jul 2009)

Joan Burton: There are serious proposals in this report dealing with important elements of taxation. Does the Government intend to publish it and the associated working papers, and, if so, when?

Fiscal Policy. (8 Jul 2009)

Joan Burton: Question 26: To ask the Minister for Finance if he will publish, in full and in a timely manner, the reports of the Commission on Taxation and the special group on public service numbers and expenditure programmes; if he will publish the working papers and supporting documentation relevant to the preparation of these reports; and if he will make a statement on the matter. [28104/09]

Fiscal Policy. (8 Jul 2009)

Joan Burton: Three significant events for the economy will happen over the course of the summer as preparations are under way for the budget. These are NAMA, the report of an bord snip nua and the report of the Commission on Taxation. The Minister suggested he wants participation by parties in the House in this process. I do not know how the Minister envisages a genuine debate on the content of both...

Fiscal Policy. (8 Jul 2009)

Joan Burton: I thank the Minister for his reply. Does it mean the members of the committee have met the Secretaries General of Departments and chief executives of large spending organisations and have asked for their response on how savings might be made under various headings? Have those Secretaries General and chief executives communicated with the Minister's in charge of the various Departments? In...

National Asset Management Agency. (8 Jul 2009)

Joan Burton: Question 28: To ask the Minister for Finance the position with respect to the National Asset Management Agency legislation; if a valuation methodology for assets being transferred to NAMA has been agreed; if it has been approved by the EU; if the valuation methodology will imply a mark up on market price or a mark down on their book value; and if he will make a statement on the matter. ...

National Asset Management Agency. (8 Jul 2009)

Joan Burton: Will the Minister confirm that at this point in time NAMA is, as I understand it, talking about taking over the bad loans of some 20 to 50 big developers whose loans amount to between €20 billion and €45 billion? Will he confirm that the way this will work is that each loan will be valued separately and independently? The Minister did not address the question I asked. I asked whether...

National Asset Management Agency. (8 Jul 2009)

Joan Burton: How would the Minister propose to assign a medium-term economic value to development land in a context where throughout the country we have large volumes of unsold property, both commercial and residential? It is obvious to anybody that a medium-term economic value for development land, which constitutes the largest element, is likely to have to face a very steep discount. Does the Minister...

National Asset Management Agency. (8 Jul 2009)

Joan Burton: I did not say it was the majority; I said it was some of it.

National Asset Management Agency. (8 Jul 2009)

Joan Burton: Will the Minister expand on his suggestion concerning quality assets being included with impaired loans?

National Asset Management Agency. (8 Jul 2009)

Joan Burton: But only impaired developers.

National Asset Management Agency. (8 Jul 2009)

Joan Burton: Why would NAMA acquire quality assets?

Financial Services Regulation. (8 Jul 2009)

Joan Burton: That is a different matter.

Financial Services Regulation. (8 Jul 2009)

Joan Burton: The Minister is probably more aware than I that part of the reason for the mess in which the Irish banks find themselves is that they borrowed short to lend long. However, people who borrowed on mortgages have borrowed long. An individual family who bought a mortgage borrowed long but many of the banks borrowed short. The actuarial valuations seek to value the cost of long borrowing, not...

Financial Services Regulation. (8 Jul 2009)

Joan Burton: I am simply suggesting it.

Financial Services Regulation. (8 Jul 2009)

Joan Burton: They are likely to rise a little in the coming two years.

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