Results 9,021-9,040 of 16,537 for speaker:Brian Lenihan Jnr
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: The Deputy did not say that.
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: I never have visited Wall Street and my fundamental concern in this matterââ
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: ââis to ensure the Irish banks have the capacity to ensure the economy remains viable, businesses continue to thrive and consumers can borrow. As for the Deputy's reference to the inability to acquire housing finance, the Government introduced an initiative in the budget to address that specific issue in cases in which the banks failed to advance credit. While I would welcome the...
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: No.
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: The fundamental issue for me is to safeguard all businesses, irrespective of their activities, which are in good standing, need credit and are capable of contributing to this economy.
- Banking Sector Regulation. (6 Nov 2008)
Brian Lenihan Jnr: That is a fundamental objective behind the installation of the guarantee and is the reason the Government will continue to reform the banking sector, now that the guarantee agreements have been concluded with the individual institutions. As for the cross-indemnity issue, I repeat it was never the case under the scheme that there was a cross-indemnity. Deputy Burton is aware I never...
- Budgetary Forecasts. (6 Nov 2008)
Brian Lenihan Jnr: Since budget day my Department has received the October data as regards tax revenue and expenditure, which are broadly in line with what was expected. The October Exchequer returns showed an Exchequer deficit at the end of October of just over â¬11 billion. The Exchequer returns also showed that in the first ten months of the year, tax receipts fell approximately â¬4.3 billion short of...
- Budgetary Forecasts. (6 Nov 2008)
Brian Lenihan Jnr: There is no question of the introduction of a supplementary budget because the tax burden has been increased in the budget that was announced this October for next year. An additional â¬2 billion in tax will be levied next year. Members will have an ample opportunity to examine the detailed financial provisions during the passage of the Finance Bill. Accordingly, an additional...
- Budgetary Forecasts. (6 Nov 2008)
Brian Lenihan Jnr: The Deputy would want to get his figures right first. The figure stated in the budget is 6.5%. In its economic assessment the Commission estimated it would be 6.7% for next year, which is not broadly out of line with those of the Government. There is a divergence of opinion between the Commission and the Government in regard to 2010 but I am satisfied that will be resolved in time as the...
- Budgetary Forecasts. (6 Nov 2008)
Brian Lenihan Jnr: As I said on a number of occasions, forecasting is not an exact science. A range of organisations both in the public and private sectors produces forecasts at different frequencies during the year. When preparing an economic forecast a wide range of different variables has to be considered. All forecasts are subject to risks and are affected by developments in both the international and...
- Budgetary Forecasts. (6 Nov 2008)
Brian Lenihan Jnr: I have had a number of constructive meetings with Commissioner Almunia, who has indicated also on the public record in this State that he is optimistic about the eventual outcome for the Irish economy.
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: I am keeping the public service pay bill under continuous review and I have already taken steps to contain its growth. The draft pay agreement, Review and Transitional Agreement 2008-2009, provides for a pay pause of 11 months in the public service. The private sector pay pause is to last for three months. Furthermore, public service employers are required to achieve a 3% cut in payroll...
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: Based on current staffing and numbers it is estimated that the cumulative costs of implementing the pay increases provided for in the draft agreement, Review and Transitional Agreement 2008-2009, will be approximately â¬260 million in 2009. Those figures are subjectââ
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: In 2010 the figure will be â¬990 million.
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: These are the figures on foot of the agreement.
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: The agreement was the result of negotiations with the social partners, which did have regard to the difficult economic environment. It is accepted by all the parties involved that the talks were among the most challenging and complex yet faced. No specific additional provision has been made for the costs in 2009 of the increase provided for in the new draft pay agreement and those costs...
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: Deputy Bruton's summary of the borrowing position for current purposes is not correct. The bulk of the borrowing this year is to fund investment in the public capital programme. That is where the bulk of the borrowing is concerned.
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: That is a deliberate statistical mistake.
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: Deputy Bruton is only arriving at that conclusion on the basis that the public capital programme is being funded by the taxpayer and not by borrowing. I agree with much of what Deputy Bruton said about the gravity of our position but the realistic way to look at the matter is to accept we are borrowing this year to fund approximately 10% of all our current expenditure. I agree that is...
- Public Sector Pay. (6 Nov 2008)
Brian Lenihan Jnr: The Deputies will have to check their figures again.