Results 3,581-3,600 of 16,537 for speaker:Brian Lenihan Jnr

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I absolutely agree.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 23: In page 83, line 6, to delete "subsection" and substitute "section". This is a technical amendment which I commend to the House.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: It has been very well explained in this House. I spoke at length on this in committee and, while outlining some of the difficulties, I said it was an issue I would like to examine further. I am not prepared to accept the amendment this year because of the difficulties associated with introducing such a fundamental change into the tax code, and it is not entirely clear where the amendment...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I indicated in my reply, which was a change from Committee Stage, that I am prepared to examine it sympathetically. It is a very far-reaching change in the context of the current tax code and certainly could not be introduced at this stage of the Finance Bill without further reflection.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 26: In page 95, to delete lines 18 to 23 and substitute the following: " "242A.—(1) In this section 'relevant territory' has the meaning assigned to it in section 172A.". This is a technical amendment.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 27: In page 96, line 26, to delete "246A" and substitute "242A". This is a technical drafting amendment to rectify an incorrect cross-reference.

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 29: In page 99, lines 23 to 28, to delete all words from and including "and" in line 23 down to and including "State,"," in line 28 and substitute the following: ", the Friends of the National Collections of Ireland, a local authority or a joint body within the meaning of section 2(1) of the Local Government Act 2001 and any university in the State,",". This is a...

Finance Bill 2010: Report Stage (Resumed) and Final Stage (10 Mar 2010)

Brian Lenihan Jnr: I move amendment No. 30: In page 99, lines 30 and 31, to delete all words from and including "subparagraphs" in line 30 down to and including "subsection (1)," in line 31 and substitute "paragraph (a)(iii) of subsection (1),".

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: As the Deputy will be aware, the Credit Institutions (Financial Support) Scheme 2008 will expire on 29 September 2010. This scheme was introduced following the collapse of Lehmann Brothers and the following liquidity crisis of September 2008. However, the funding of Irish banks has improved dramatically in the intervening period and the blanket guarantee will no longer be necessary into the...

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: In the absence of the ELG, many of the banks found it difficult to finance themselves beyond 30 September. An amount of senior debt would lapse on that date anyway. It is precisely to avoid that danger arising for the banks that the ELG legislation provided for the option of the bank refinancing beyond that date under guarantee so senior debt could be rolled out in an orderly manner for the...

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: No.

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: The Deputy was wrong to detect a note of doubt. Subordinated debt is out. Fianna Fáil did not introduce it, the Government and this House did and the Government did on it advice from the Central Bank, the regulator and the other authorities.

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: What has been put in place for senior debt is our envisaged response to the issue and there is no room for any doubt about that. Where I expressed a doubt related to wider European developments; what has been done on senior debt has been agreed with the Commission. That is our position. The issue I raised was if developments through the European area might dictate a change. I could not...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: As the Deputy will be aware a detailed and comprehensive legal and regulatory framework is in place in Ireland for the regulation and supervision of the financial services sector. This framework is underpinned by an extensive series of EU directives governing the conduct of financial services activities on a cross-border basis within the EU Single Market. Clearly, an effective system of...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: The Deputy has gone beyond the remit of the question but I am happy to deal with the additional matters raised. In regard to boards of directors, there has been substantial change in personnel and this process will continue. The entire board of Anglo Irish Bank changed when the bank was nationalised, with one exception who had been appointed a few weeks earlier. We have also seen...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: The first element of public confidence was established by the appointment of the new regulator, who has certainly inspired confidence in all his actions to date. As I indicated to the House yesterday, I intend to ensure any legislation introduced enhances his independence and freedom of action and ensures that a credible statement is made both at home and abroad about the proper regulation...

Banking Sector Regulation. (10 Mar 2010)

Brian Lenihan Jnr: Responsibility for these matters rests not with the Government but with the bodies entrusted with instituting charges. It would be a criminal offence for me to contact the Director of Public Prosecutions on this matter. Legislation to this effect was enacted by a national coalition Government in 1974. I have limited scope for initiative in this area. The other bodies mentioned jealously...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: My Department has already changed its organisational structure and its deployment of staff in response to recent events in the economy and the financial system. It has demonstrated considerable flexibility in dealing with these issues. I am satisfied with the performance of my Department, especially in light of the extraordinary demands placed on it in the period since I came to office....

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: I do not accept the existence of the void to which the Deputy referred. The public service reform agenda is central to the work of my Department. The way in which it will be managed in the future has been discussed between the Taoiseach and me, but it is a matter for the Taoiseach, as leader of the Government, to make final decisions on this matter and I will not pre-empt those. I should...

Public Service Reform. (10 Mar 2010)

Brian Lenihan Jnr: -----I entirely rebut the suggestion that there is no economic strategy in my Department. The consensus of international commentary in recent months demonstrates clearly that there is in operation a very definite strategy that has commanded considerable confidence and support outside this country. What we must do is translate that confidence and support in Ireland that is manifesting itself...