Results 9,041-9,060 of 16,537 for speaker:Brian Lenihan Jnr

Public Sector Pay. (6 Nov 2008)

Brian Lenihan Jnr: The figures in respect of the capital programme are in excess of €8 billion so the Deputies' percentages do not add up.

Public Sector Pay. (6 Nov 2008)

Brian Lenihan Jnr: It is essential that we eliminate the current budget deficit in the years ahead. It is unacceptable but, given the rapid deterioration that has occurred this year, it is unavoidable. We must take firm steps to eliminate it that will involve public sector reform in addition to taxation.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: As the Deputy is aware, the day-to-day management of the debt is handled by the National Treasury Management Agency, NTMA, and, as such, it is on its advice that the Government relies regarding the operation of our debt funding. The cost of raising long-term debt in the capital markets can be measured in relative terms compared to other countries. This is known as the "spread". In the case...

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: Deputy O'Donnell is now referring correctly to the percentage of the borrowing total and not to borrowing as a percentage of the expenditure total. This has been the source of the disagreement between us on the statistics.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: I am trying to be of assistance to the Deputy because it is very easy to throw out a catchphrase during Question Time. Deputy O'Donnell was referring the percentage of borrowing on the current account as a percentage of total borrowing, not to the percentage of borrowing on the current account as a total of current expenditure.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: He referred to the giving of the guarantee to the banks and seemed to be unaware of the fact that far more extensive guarantees and direct capital investments have been made in banking systems by Governments throughout Europe. Our guarantee has been the cheapest of any given in Europe.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: It involves a payment for the guarantee by the relevant institutions to the Exchequer. It is worth noting that because it is clear that the widening spreads in bond markets reflect massive investment in the banking sector right across Europe.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: Despite the difficult and volatile market conditions since September, the NTMA has continued to be successful in raising finance for the Exchequer.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: Over €2.5 billion in short-term funding was raised in October and, this week, the NTMA issued a new €4 billion three-year benchmark bond.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: The bond was oversubscribed within 36 hours and close to 100 applicants participated in the transaction. The successful launch of the bond in these conditions confirms the confidence of investors in the Irish Government bond market.

Government Borrowing. (6 Nov 2008)

Brian Lenihan Jnr: There is a wide variety of factors.

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I am replying on behalf of the Minister of State at the Department of Finance with responsibility for the Office of Public Works, Deputy Martin Mansergh. Deputy Stanton should note that my reply is in respect of the Vote held by the Office of Public Works only and that funding allocations for disability services pertaining to the Minister for Health and Children, the Minister for Education...

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: Deputy Stanton will appreciate the question was tabled to the Minister of State responsible for the Office of Public Works and not to me, the Minister for Finance. If he wishes to raise questions of other Ministers in regard to their responsibilities, that course of action is open to him. However, I will certainly examine the report of the Comptroller and Auditor General.

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I will have the answers when I am asked the question. The question I was asked related to the responsibilities for disability services of the Minister of State with responsibility for the Office of Public Works, Deputy Mansergh.

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I am subject to the Leas-Cheann Comhairle but the question was put and answered in that form. Perhaps the Deputies may wish to put a question in respect of the health Vote. I can assure Deputy Burton that officers of my Department maintain careful and constant scrutiny.

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: In determining the relevance of questions——

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: The reply is prepared on the basis of a question on disability services within the Office of Public Works. Concerning the wider questions raised by Deputies about financial matters relating to the Department of Heath and Children, I can say that the officers in my Department maintain a very careful and close scrutiny of the Vote of the Health Service Executive, for which Professor Drumm...

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I will certainly take into account the matters referred to by Deputy McGrath.

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I am quite happy to assure the House that I will do all in my power to ensure that moneys voted for disability services are allocated to them. I must say that the reply and the material associated with this question were prepared on the basis that it was a question to the Minister with responsibility——

Departmental Expenditure. (6 Nov 2008)

Brian Lenihan Jnr: I am explaining to the Deputy the basis on which the reply was formulated. I am entitled to do this. The reply was prepared for the Minister of State, Deputy Mansergh, and I was requested to stand in for him. If the Deputy is happy to put down the question again I will give him a comprehensive answer.