Results 9,681-9,700 of 16,537 for speaker:Brian Lenihan Jnr

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: That is a long list of questions. This country has a solid export driven sector. Our export driven goods and services sector is the mainstay of our economy today and is thriving.

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: I did. There is some moderation in demand because of the position in other markets, not because of a position created by the fundamental factors here.

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: The fundamental factors regarding exports of our goods and services are soundly based. The difficulties that have arisen have arisen in the construction and banking sectors and have international causes. That situation is visible to all.

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: I assure Deputy Burton that I am not wasting vital weeks. The reason for bringing forward the budget to Tuesday, 14 October is the gravity of the situation in terms of our national finances and this year's deteriorating economic position. That deterioration has been reflected in a sharp reduction in forecast tax revenues. I appreciate that Deputy Burton and, I am sure, Deputy Bruton would...

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: If I may complete my answer, for that reason I will arrange for my officials to fully brief the Deputies on the state of the economy upon the conclusion of the September quarterly analysis by my Department.

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: Discussions are in train with the trustees and administrators of the funded pension schemes of the five older universities and certain non-commercial semi-State bodies, SSBs, which have funded pension schemes with a view to providing consistency and clarity for the future in terms of meeting the liabilities of the schemes. This follows consideration some time ago of the pension difficulties...

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: It will have a positive impact.

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: Borrowing plans are not being formulated in light of the existence of this fund. The details of the borrowing in which we will have to engage next year are a matter for the Budget Statement but, as far as this matter is concerned, discussions with the relevant institutions are at a preliminary stage. I am sure Deputy O'Donnell has noted from my reply that a difficulty exists in EU law which...

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: That is a complete misrepresentation.

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: As I made clear to Deputy O'Donnell in my first supplementary reply to this question, discussions on this matter are at a preliminary stage. It is not my practice or, indeed, the practice of any previous Minister to disclose the borrowing plans that may be disclosed in the Budget Statement and I do not propose to do so at this stage. I have pointed out to the Deputy that plans in regard to...

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: I cannot comment on what will be in the budget. I have stated that the matter is at——

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: I will not disclose the budget this afternoon.

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: I am saying that the matter is under discussion with the relevant parties and this will take time and will require separate legislation to advance.

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: May I finish my answer?

Pension Provisions. (25 Sep 2008)

Brian Lenihan Jnr: In regard to the suggestion of unquantifiable liabilities on foot of any decision that may be taken on this matter, these will in any case accrue to the State because it assumes liability for these pensions in practice. The allocation of assets that may accrue as a result of any decision that may be made will be determined by the Government in due course.

Financial Sector. (25 Sep 2008)

Brian Lenihan Jnr: Maintenance of the overall stability of the Irish financial system is a central priority of the Government. Since August 2007 the international financial system has been affected by unprecedented turmoil and dislocation. Credit markets, which are pivotal to meeting the medium-term funding needs of the financial system, have effectively closed since August 2007. Interbank lending rates for...

Financial Sector. (25 Sep 2008)

Brian Lenihan Jnr: I agree with Deputy Bruton. We must have a partnership approach with the banks, the Central Bank and the Financial Regulator, the last two of which have statutory responsibilities in this area. The Deputy asked about the timing of the announcement on deposits but I have kept this matter under review since my appointment as Minister for Finance. It is very difficult to determine an...

Financial Sector. (25 Sep 2008)

Brian Lenihan Jnr: A stability report might form one element of a package of measures to generate ongoing confidence in the sector but I would not like to commit myself this afternoon to the publication of a particular report. Any measures to boost confidence in this sector must be carefully thought out in consultation with all parties with a view to commending universal acceptance.

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: I had an opportunity on the margins of the recent informal ECOFIN meeting in France to exchange views with Commissioner Almunia, who is responsible for the economic and monetary affairs directorate. I outlined how domestic and international factors have impacted on the Irish economy, most notably in the rapidity of the downturn and its significant impact on tax revenues. I advised that my...

Fiscal Policy. (25 Sep 2008)

Brian Lenihan Jnr: No. They have not been submitted yet and would not have been submitted yet in the normal course of events.