Results 741-760 of 16,537 for speaker:Brian Lenihan Jnr

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: In responding to the debate, it is important to be very clear about the background to the measures in this Bill. The preamble and recitals to the Bill outline the seriousness of the problems Ireland faces. The economic pressures of the last two years, coupled with the turmoil in the financial sector, have produced a significant deterioration in the Government's budgetary position which must...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Members must accept that this is no longer sustainable, given the economic crisis which has pushed unemployment to new levels. The policies introduced in the boom years, which contributed a great deal to pushing up the cost of employment and reducing Ireland's competitiveness, cannot be maintained. We have to change our approach and tailor what we do to the new economic realities to create...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----about the increase in long-term unemployment, something which makes the need for action all the more pressing. The OECD and other international experts have identified a high minimum wage as a real barrier to job creation.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Perhaps the Deputies might listen to some economic facts. The OECD and other international experts have identified a high minimum wage as a real barrier to job creation.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: No doubt if the Labour Party assumes office-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: ---- it will not reverse this decision. Its leader made clear very recently in a prominent television broadcast that he did not intend to reverse any of the cutbacks-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----or restrictions that were introduced in the past two years.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Studies have clearly pointed to a negative relationship-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----between minimum wages and employment.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: There is evidence that a 10% increase in the minimum wage typically reduces employment by up to 5%.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Deputies opposite will note this shows that it is only an increase in the minimum wage which causes problems.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: This is just an interruption. There are some people-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: That is what I am talking about.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: There are some Deputies in this House who do not want to face facts, but they might have to face facts very soon.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Deputies opposite said that this shows that it is only an increase in the minimum wage which causes problems-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----but, of course, this is not the case. It means the evidence shows that if the rate had not been increased, we could expect that employment opportunities would be greater. The effects of a high minimum wage are wide-ranging. It is a barrier to employment in labour-intensive sectors like retailing, hospitality and tourism, where many jobs have been lost. If Ireland is to deal with the...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: This can be a major problem for people without the necessary skills and experience to get better jobs. With more entry-level employment, the young and the less-skilled do not have the opportunity to improve their skills and then move to better jobs elsewhere. Deputies should remember that, since it was introduced, the minimum wage increased well beyond the level of inflation; it rose by 55%...

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: I remind the Deputy that there is plenty of taxation on that. Even with the reduction the Government is making in this legislation, our minimum wage will still be considerably above the level of that in the UK and Northern Ireland. We need to start to face economic facts and become a competitive economy. We in all political parties-----

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: -----will need to move the political establishment in here from the politics of anger and protest to a politics that will put our economy on a sustainable basis.

Financial Emergency Measures in the Public Interest (No. 2) Bill 2010: Second Stage (Resumed) (10 Dec 2010)

Brian Lenihan Jnr: Last night, Deputy Penrose asked whether the Government's decision to reduce the national minimum wage was required or demanded by the IMF or the EU. I can assure the Deputy that this is not the case. Ireland has agreed a programme with our EU partners and the IMF which offers substantial financial support, amounting to a total of €85 billion through the European Financial Stability Fund...