Results 6,401-6,420 of 16,537 for speaker:Brian Lenihan Jnr

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: This regaining of competitiveness depends on decisions being taken by the Government. We have begun the process of making those decisions, many of which were fought tooth and nail in the House by the parties opposite. What this debate has underscored is that it is not Ireland, but the Opposition parties which are bankrupt of ideas-----

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: -----about how to progress the country out of this grave economic crisis.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: The last two days have shown that the Opposition prefers to hide behind empty rhetoric-----

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: Opposition Members are superb rhetoricians, for which I give them credit. Deputy Howlin is one of the ablest, but it is rhetoric, smoke and mirrors.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: It is not the practical decision making that must be followed to ensure the country progresses. The Government has not shied away from taking difficult decisions.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We will protect the economy and position the country to benefit from the global economic upturn when it eventually occurs. These decisions have not been popular, but they are unavoidable. We will continue to take actions to restore order and sustainability to the public finances. We are determined not to repeat the policy mistakes of the 1980s when successive Governments postponed taking...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We carried out four budgetary adjustments because we needed to address the difficulties as they emerged. It is what the country needed. It did not need postponement or endless analysis and rhetoric. It required decisions which is what the Government took. Last July the various adjustments laid the foundations which were built upon with subsequent measures. That programme has the backing...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: The scope for further income tax increases is limited if we are not to dampen recovery; therefore, the bulk of the future budgetary adjustment will need to fall on the expenditure side. This task will not be easy, but the Government will not shirk its responsibilities. Sound public finances will provide the backdrop for renewed export-led growth in the economy. As we regain international...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: Today the International Monetary Fund reiterated in its review of the euro area economy that economic recovery would not happen unless decisive actions were taken to stabilise and revitalise the banking system. We have taken those actions, sometimes with the support of the main Opposition party, with the relentless opposition of the Labour Party, the members of which want to say out of the...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We are borrowing money to meet day-to-day expenses. Everyone who has been advised by the Labour Party and its satellites on the far left that he or she is subsidising the banks should be informed-----

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: -----that we are borrowing to pay for basic public salaries.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We are borrowing for welfare payments and to meet day-to-day expenditure.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: This situation cannot continue. It is an unsustainable trajectory for the country.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: That is why the Government is taking the necessary actions.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: I began by pointing out that the IMF had advised all European governments that economic recovery would not occur unless decisive action was taken to stabilise and revitalise the banking system.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We have taken such steps and continue to take action to repair the financial system. We introduced the guarantee for deposits and other covered liabilities of the banking system to stabilise the banks' funding position. We have recapitalised Bank of Ireland and Allied Irish Banks which have seen considerable recovery of their shareholdings, in respect of which we have taken a warrant for...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: We needed to nationalise Anglo Irish Bank, as banks cannot lend to sound businesses and personal customers-----

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: -----unless they themselves attract funds.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: The National Asset Management Agency will clean up balance sheets-----

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: -----by purchasing the riskiest loan categories from the banks at an appropriate price, thereby boosting international confidence in our banks and restoring their ability to lend.