Results 1,401-1,420 of 16,537 for speaker:Brian Lenihan Jnr

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Deputy Durkan asked about the arrangements regarding the identity of those who hold bonds. As I believe I have pointed out to him previously, there is no register of their identities. Such instruments are traded because they are in a sense tradeable deposits. That is their character. They are issued on a certain basis with the coupon representing the detachable interest claimable in the...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Most Deputies followed the same ground as Deputy Rabbitte in his first question. The deficit figure will not be postponed to budget day. It will be contained in the four year plan, as will the forecasts for particular years. My Department continues to work on those. Deputy Rabbitte's second question related to the growth figure being fixed at €15 billion. A number of factors need to be...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: As the note stands, that is the position. They are captured by the Stability and Growth Pact.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Explorations are constant in my Department on a wide variety of matters.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I am sure the Deputy would not be surprised to hear that I suggested it to him as well. Explorations are constant and ongoing in my Department on the accountancy treatment of a wide variety of matters. Deputy Coveney made a request in regard to the deficit figures themselves. That was the main focus of his questioning. The precise figures will be given in the four year plan for growth and...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: No final advice has been given to me on that matter. Clearly, views are expressed from time to time but given the volatile state of the markets I will take that advice when the Government comes to make its decision on the issue. I think I dealt with most of Deputy Coveney's questions. Did I neglect anything?

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I apologise, I knew he had raised another issue. The budget is set for a fixed date in December and the only change we made this year is based on the belief that we can give greater credibility to the budgetary process by laying out a four year track whereby projections for anticipated growth, measures to foster growth and employment and adjustments to expenditure and taxation will be set...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: In response to Deputy O'Shea, the pension schemes have substantial assets and, traditionally, they have not invested in Irish bonds. The NTMA is in discussions with them on that issue. In regard to personal savings, I will examine proposals put forward on any side of the House as to how to release them. I must say, however, that proposing marginal tax rates in excess of 60% is probably...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Deputy Perry asked on the question of bank guarantee schemes and whether a guarantee can be given to small lenders. What I say to him and to Deputy O'Mahony is that the Credit Review Office deals with appeals in regard to traders and has power to issue directions to banks in regard to the cancelling of overdraft facilities for small businesses. As to whether there should be a wider...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Deputy Timmins referred to the Croke Park deal and the saving of €1 billion. Clearly, the Croke Park deal permits the redeployment of public servants in many branches of the public service. The jobs reduction programme that can be implemented as a result would save very substantial money to the Exchequer over the programme period. Deputy Joe Carey referred to the whole question of the...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Perhaps not, but it is a very substantial amount. It has been resolutely opposed in this House by Opposition parties.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: The Deputy's party specifically has refused at any stage to look in a realistic way at the structure of public expenditure. They talk about administrative savings and budget managers when we all know what exactly the structure of public expenditure is and where the difficult decisions have to be made.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I am entitled to reply to questions in this House. With regard to Deputy Finian McGrath's question, Article 9 of the Lisbon treaty commits the Union to a number of worthy objectives. However, none of these worthy objectives can be secured unless the basic financial system of the economy of a member state is on a sustainable basis. The Deputy referred to taking €15 billion out of the...

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: The average interest rate over the past two years, 2009-10, taking the options as a whole, was 4.75% for ten-year money.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: The interest rate bill will be dealt with in the plan.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: We have made those assessments.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I am entitled to reply.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I am willing to answer a vast range of questions. I pointed out to the Deputy that the information will be provided in the plan.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: Deputy Barrett referred to the question of credit for business. The European Investment Bank-----

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I am entitled to reply to the debate. I now have only four minutes in which to reply as a result of-----