Results 6,681-6,700 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Departmental Expenditure: Departmental Expenditure (13 May 2009)

Brian Lenihan Jnr: My Department has reported to Government on all expenditure by Departments on a monthly basis since February 2002. This was supplemented by bi-monthly Expenditure Management Reports from the Departments of Social & Family Affairs, Health & Children, Justice, Equality & Law Reform and Education & Science from 2003. Departments with capital expenditure in excess of €250 million were...

Finance Bill 2009: Second Stage (Resumed) (13 May 2009)

Brian Lenihan Jnr: I welcome the comments of the Minister of State, Deputy Kelleher, and Deputy Fahey that the income levy is a progressive measure. It is never easy to raise taxes but when it is necessary to do so, it is important that those who can pay pay the most, while the vulnerable in society are protected as far as possible. Deputies Burton and O'Donnell referred to the changes to mortgage interest...

Finance Bill 2009: Referral to Select Committee (13 May 2009)

Brian Lenihan Jnr: I move: That the Bill be referred to the Select Committee on Finance and the Public Service, in accordance with Standing Order 122(1) and paragraph 1(a)(i) of the Orders of Reference of that committee.

Finance Bill 2009: Second Stage (Resumed) (13 May 2009)

Brian Lenihan Jnr: I thank Deputies for their many considered and useful contributions to the debate on the Finance Bill 2009. I look forward to a constructive and informed discussion on Committee Stage. I will respond as far as possible in the time available to me to the points raised by Deputies. I note, in particular, the points made by Deputy Deenihan. Before moving on to address some of the points made...

Finance Bill 2009: Second Stage (Resumed) (13 May 2009)

Brian Lenihan Jnr: For the Deputy's information, the average tax rate for a single individual on €80,000 was 45% in 1997, some 9 percentage points higher than it is today.

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: We must proceed with great care because the valuation of these assets must be done to protect and take account of the interests of the taxpayer.

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: That is why I am not prepared to rush into giving a personal view on how the valuation should be conducted. I will take account of proper competent advice on that. That is my intention.

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: Deputy Burton casually threw out the suggestion, as she does so often in banking matters, that this is a conspiracy to enrich bank shareholders. That is very wide of the mark. The purpose of this exercise is to clean the balance sheets of the banks so they can be restored as normal entities lending into the economy. A few moments ago Deputy Burton stated that covered institutions, namely,...

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: We should be very careful.

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: I am not trying to warn Deputy Burton off.

National Asset Management Agency. (13 May 2009)

Brian Lenihan Jnr: I am more than pleased to have discussions. We had an extensive discussion at a meeting of the Joint Committee on Finance and the Public Service. The covered institutions are not wholly bankrupt. I am not warning Deputy Burton off. As the Minister charged with responsibility for banking, I am telling her that what she says is not in accordance with the facts.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: The first fundamental way to protect and expand Irish jobs is to get our competitiveness right and to put the public finances on a sound footing. This we are doing. The second key strategy is to invest in the smart economy, maintain high levels of capital spending and direct that into labour intensive areas. This we are also doing. For example, I announced the establishment of a...

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: I examined Fine Gael's proposals in this regard. I provided access to my Department before the budget and I am glad Deputy Bruton used that facility. Many of the Fine Gael proposals replicate the Government document, Building Ireland's Smart Economy, which was published last December. Almost none of the programmes proposed by Deputy Bruton in his party's document is new. However, I...

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: We will not have an economy without a viable banking sector. The steps the Government is taking on banking, whether through recapitalisation or rescue measures, are not discretionary.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: If we decide to let the banking system fail the economy will see-----

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: -----a reduction three or four times that already envisaged for this year. I appeal to Opposition parties to stop making politics out of banking. There is no advantage to our economy in that. We must have viable banks.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: Yes, we will have to take the bad loans off the banks.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: We have had debate after debate since last September about banking.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: I am interested in decisions which will repair the banks' balance sheets and ensure they are restored as the viable motor of the economy.

Jobs Initiatives. (13 May 2009)

Brian Lenihan Jnr: Throughout the world, we have seen a dramatic lack of confidence and collapse in the financial system. If we repair that motor we will repair our economy. The idea that we can ignore this and engage in endless theoretical debate mixed with low political abuse as a form of addressing our banking problems is wrong.