Results 10,661-10,680 of 11,979 for speaker:Billy Kelleher

Job Creation. (2 Dec 2009)

Billy Kelleher: I am giving the Deputy the facts.

Job Creation. (2 Dec 2009)

Billy Kelleher: I am trying to be as helpful as possible for the Deputy. If he wishes to go elsewhere for information, that is fine. I have come to the House to give him the information I have and to assist him in any way possible.

Job Creation. (2 Dec 2009)

Billy Kelleher: The remit of the IDA is to attract foreign direct investment to this country. Enterprise Ireland is charged with supporting indigenous industry and exporting. The number of jobs created is in the annual report of Enterprise Ireland, not in projections.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: I propose to take Questions Nos. 38, 66 and 68 together. As I have outlined to the House in recent months, in supporting small and medium-size enterprises, SMEs, the Government's focus has been on actions to sustain a positive business environment, including the proper functioning of the banking system, allied with specific targeted supports for SMEs through my Department's enterprise...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: That is obviously the Deputy's party's view on how to get credit flowing into the broader economy. We all accept that the banks had impaired balance sheets. As I said at the outset, they were unable to access money in the wholesale money markets.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: There was difficulty in that regard.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: Regardless of what else was done, if the impaired assets had not been removed from the balance sheets of the major banks-----

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: -----they would have been unable to access-----

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: -----any further moneys through the wholesale money markets and lend it into the broader economy. The Deputy is right to assert that issues with short-term working capital are creating major difficulties, such as reductions in overdraft and current account facilities. Such issues are having a huge impact on small and medium-sized businesses. As their cash flow reserves are gone at this...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: They are referred to the credit supply clearing group.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: I advise the Deputies opposite who receive such queries to refer them to the credit supply clearing group. If they want to deal with them personally, they can do that instead. We are conscious of the importance of this fundamental issue. The Deputy knows as well as I do that regardless of what else happens, we need to have functioning banks that can access money. Fine Gael believes that a...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: Many things are practical. We have to live in the real world as well. The difficulty is that there has been a global downturn. We have a recession in this country. There has been a contraction of the economy. There has been a drop in demand for credit. Equally, there has been a drop in demand for the goods and services offered by small and medium-size businesses. The Deputy also asked...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: Another issue of concern was identified by the Tánaiste and others at an early stage is the availability of skills levels in the banks. For many years, the banks offered loans on the assumption that they had securities in the form of rising property prices. Businesses now have to be assessed on the basis of profit and loss accounts, balance sheets and business plans. As a consequence of...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: Regardless of whether we like it, the major difficulties that continue to exist internationally are having an impact on this country.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: All the banks are represented on the credit supply clearing group, which has been up and running for some time. The Tánaiste is establishing a forum, on which all the major banks and stakeholders-----

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: Yes.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: All the banks that are covered by the guarantee will be included. Other stakeholders from broader industry, as well as representatives of bodies like Enterprise Ireland, will be represented too. Public interest directors have been appointed to the banks. There have been personnel changes within the top echelons of the banks. The first priority was to stabilise and capitalise the banks and...

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: I note the Deputy's concerns on this issue. With regard to the actual question, I can only oblige Standing Orders. Forfás is working with the Central Bank as we speak, analysing the credit supply going to small and medium-sized businesses.

Bank Lending Policy. (2 Dec 2009)

Billy Kelleher: We are all well aware of the difficulties. Sometimes banks reduced overdraft facilities and provided term loans but that was not an increase in credit to small and medium-sized businesses. We know what was happening. Now we want to get Forfás and the Central Bank together to analyse this. Mazers 2 is also in there, assessing the credit demand. Let us be honest. There has been a drop in...

Companies (Miscellaneous Provisions) Bill 2009 [Seanad]: Second Stage (Resumed) (2 Dec 2009)

Billy Kelleher: I said I would publish it.