Results 901-920 of 2,703 for speaker:Paul Gogarty

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: That is the level of debate we have in this country, namely, a person who does the right thing but who may be aligned to a party that contributed to a problem, is not in Government in order to do the right thing. I do not wish to get into the politics of blame because I believe we are all to blame for this situation.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Even the Green Party is to blame. We all had credit cards and we all borrowed. We did not sit eating lentils and wearing sandals.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: That is how the situation came about.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: This NAMA legislation is a serious attempt to try to address the liquidity problem. A number of varied proposals have been put forward. On the Labour Party nationalisation scheme, Deputy Eamon Gilmore said it is not nationalisation because it is only for a temporary period. However, as Alan Blinder, former vice-chairman of the Federal Reserve in the US suggested recently, if a government...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Regardless of how it is done, the taxpayer has to fill the hole. We in the Green Party contend that NAMA, if done properly, will cost the taxpayer less than nationalisation. Nationalisation will lead to an outflow of investment in the country and there is no guarantee in terms of how long that would last. It also raises issues in regard to the 85,000 ordinary decent people employed in the...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: On nationalisation, we have already taken over Anglo Irish Bank. It has received more than €4 billion in capital funding to date and has lost approximately €15 billion in deposits. The Central Bank has had to make up the majority of the difference through a €10 billion liquidity injection. If the State were to wind up Anglo Irish Bank, the cost to the taxpayer would be in the region...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: That is a point. The taxpayer is ultimately responsible for day-to-day operations.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: That is what the taxpayer elects a Government to do. It would be far more politically prudent were my colleagues and I to hold up placards saying NAMA is bailing out the bankers and the developers and for that reason we should call an election and be the heroes.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: We are not going to do that. The right thing is to try to do right by the taxpayer and minimise the risk as much as possible. It gladdens my heart to have a former member of the Oireachtas, a Progressive Democrat, former Minister of State, Tom Parlon, criticise some of the achievements of the Green Party in respect of NAMA and related legislation.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Anyone who is an enemy of Tom Parlon is a friend of mine and that is why I am supporting this legislation. Let us come now to the Fine Gael proposal. Fine Gael has proposed the establishment of a good bank which, unfortunately, will not get the assets required to make it work. The magic bank proposed by Fine Gael should be able to borrow from the European Central Bank but the assets have...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Fine Gael also suggests we wait another year, until October 2010, when the bank guarantee scheme has expired.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: The process will begin as soon as the legislation is passed whereas under the Fine Gael proposal, it will not begin for a year. Such uncertainty cannot be tolerated. We may not have an economy in 12 months time if we do not set this process in train as soon as possible. Deputies Durkan, Lee, Burton and others made valid points in regard to the risks associated with this plan. Nobody denies...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Those stamp duty receipts were squandered. There were some significant achievements during the ten years of the Fianna Fáil-Progressive Democrats Government but there were many follies too. Instead of dwelling on the past, the Government must proceed with clearing up the mess, hopefully with the constructive support of the Opposition. That is what we are trying to do by, for example,...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: The Minister for Finance indicated yesterday that schools, community organisations, sports clubs, voluntary housing organisations and others may be able to access NAMA land at reasonable rates. I would go further and argue that where the land was rezoned foolishly merely to fill the back pockets of a particular land owner or developer and is now worthless, that land should be handed over to...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: My party argued for strategic development zones for a long time.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: We had to wait a long time for that. Another initiative we prioritised soon after entering government was the establishment of a developing areas unit and the development of guidelines for local authorities to ensure provision would be made for schools as part of any residential development. These were incorporated not only into strategic development zones but also local area plans....

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: In many such cases they were provided with a sweetener attached.

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: I take the Deputy's point and do not disagree with it in general. I am merely pointing out the reality in some areas. In regard to NAMA, there will always be something of a guessing game in regard to the valuation issue, and there has been much talk of risk-sharing. The estimated valuation draw-down has been put at €47 billion, with the €54 billion being paid representing a premium of...

National Asset Management Agency Bill 2009: Second Stage (Resumed) (17 Sep 2009)

Paul Gogarty: Somebody has to foot the bill, and unfortunately it is the taxpayer who must do so. However, if implemented correctly, NAMA is probably the least costly option and we may even get some money back.

Written Answers — Social Welfare Offices: Social Welfare Offices (16 Sep 2009)

Paul Gogarty: Question 841: To ask the Minister for Social and Family Affairs if she will review the staffing rosters and opening hours of social welfare offices here in view of the increase in the number of people seeking social welfare; if she will clarify that such adaptability exists within her Department and is not hampered by public service freezes; and if she will make a statement on the matter....