Results 6,421-6,440 of 16,537 for speaker:Brian Lenihan Jnr

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

Brian Lenihan Jnr: I will mention something about the Government's approach to Anglo Irish Bank. What occurred in terms of its lending practices and corporate governance was a disgrace. Nobody in the House is more angry than I am about the events that took place at the bank. Let me reassure the House that every step the Government has taken regarding Anglo Irish Bank and the rest of the banking system has...

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

Brian Lenihan Jnr: The substantial support provided for the bank by the European Central Bank would immediately be withdrawn since the ECB does not lend to non-banks. Perhaps the Opposition could suggest where the State could find a quick €50 billion to cover the lost deposits and interbank funding.

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

Brian Lenihan Jnr: As a former distinguished Member of the House-----

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

Brian Lenihan Jnr: May I conclude?

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

Brian Lenihan Jnr: I showed the Deputy the courtesy of listening to him.

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

Brian Lenihan Jnr: A former distinguished Member of the House, Alan Dukes, told the Joint Committee on Finance and the Public Service yesterday that a winding down, whether orderly, would expose the State to far more expense than the approach the board is adopting.

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

Brian Lenihan Jnr: Deputy Lee, whom I welcome to the House, has argued that Anglo Irish Bank is not important to the banking system because it has only one branch in Dublin.

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

Brian Lenihan Jnr: Lehman Brothers did not have even one retail branch outlet, yet we saw the consequences of its collapse on the entire global financial system.

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

Brian Lenihan Jnr: Its demise almost brought the entire global financial system to a halt.

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

Brian Lenihan Jnr: I will not be deterred-----

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

Brian Lenihan Jnr: We have a mandate from the House to carry on the business of government. That is our duty. Much has been said about the rise and demise of political parties. I can say we led this country out of profound economic difficulties in the 1930s, 1950s and 1980s.

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

Brian Lenihan Jnr: The Government must act beyond party interests and in the interests of all of the people. With our partners in government-----

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

Brian Lenihan Jnr: -----we will lead the country out of the current difficulties and back into the sunlight of prosperity, investment, jobs and social justice.

Written Answers — Insurance Industry: Insurance Industry (9 Jun 2009)

Brian Lenihan Jnr: The Financial Regulator has informed me that following its failure in 1983, PMPA was renamed Primor plc. The principal activity of Primor plc (Under Administration) is the settlement of outstanding claims liabilities of the company. The company ceased its principal business of insurance underwriting in July 1989. I have been informed that the firm is at an advanced stage of run-off.

Written Answers — Tax Collection: Tax Collection (9 Jun 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that in general a tax refund claim, which is outside the four year limit provided for under Section 865 of the Taxes Consolidation Act, 1997 cannot be allowed. However, in the case referred to there is a possibility that a claim was made to the Commissioners within the statutory time limit. Unfortunately an examination of the relevant data from the...

Written Answers — Tax Code: Tax Code (9 Jun 2009)

Brian Lenihan Jnr: The composite annual rates of income levy for the year 2009 ensure that all income earned in the year is, and all taxpayers (both PAYE taxpayers and the self employed) are, treated in the same way. These annual composite rates are complemented by two sets of payroll deduction rates requiring employers to deduct levy from payroll payments at the rates of 1%, 2% and 3% up to end April 2009 and...

Written Answers — Pension Levy: Pension Levy (9 Jun 2009)

Brian Lenihan Jnr: I undertook during the Dáil debate on the pension-related deduction to have the situation of this group of workers examined to see if there are exceptional circumstances in their case. That examination is in progress. In the recent Supplementary Budget, I announced a change to the structure of the deduction which will exempt the first 15,000 euro of earnings. This should benefit the group...

Written Answers — Departmental Expenditure: Departmental Expenditure (9 Jun 2009)

Brian Lenihan Jnr: My Department paid bank charges of €5,195 in the period 1st May 2006 to 30th April 2009 in respect of public bank accounts which are maintained to facilitate the making of electronic payments. This figure is broken down as follows - bank service charges of €2,870 and bank transaction charges of €2,325. The bank account used at present is interest bearing and interest of €7,147 was...

Written Answers — State Banking Sector: State Banking Sector (9 Jun 2009)

Brian Lenihan Jnr: The indemnity now granted to Directors under Anglo's revised Articles of Association is standard, and similar provisions are used in the articles of association of many companies. Also, while certain limitations on indemnification are imposed by Section 200(1) of the Companies Acts, which was disapplied by the Anglo Irish Bank Act 2009, Anglo's revised Articles of Association provide that I,...

Written Answers — State Banking Sector: State Banking Sector (9 Jun 2009)

Brian Lenihan Jnr: As the Deputy will be aware, it was announced on 29 May that the Government had decided, subject to EU approval, to provide up to €4bn in capital to Anglo Irish Bank. This decision was taken in a context of disappointing six-month financial results for Anglo, reflecting a marked deterioration in asset quality at the bank. The injection of up to €4bn is necessary to ensure Anglo can meet...