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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Kieran O'Donnell: I have limited time and this is extremely important. The bottom line is that, internationally, we are judged like any other country by the markets and the rating agencies based on the metrics of GDP and GNP. We can talk about the broader question but, for the next number of years, which are critical years for us, we are going to be judged on those two key components. If we have another...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Kieran O'Donnell: The CSO would have seen the extreme variance between the preliminary figure of 6.7% and the final figure of 26%. As an independent body, knowing how the markets would react, why did the CSO not give the detail that would allow them to strip out the exceptional items of intellectual property and so on? Did the CSO not present two figures, one being the actual figure and the other being the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: National Economic Output: Director General, Central Statistics Office (13 Oct 2016)

Kieran O'Donnell: How much of an increase?

Seanad: Rent Certainty (No. 2) Bill 2016: Second Stage (12 Oct 2016)

Kieran O'Donnell: That is not relevant to the Bill.

Seanad: Rent Certainty (No. 2) Bill 2016: Second Stage (12 Oct 2016)

Kieran O'Donnell: Will the Senator deal with the rent certainty aspect of his Bill in the time remaining to him?

Seanad: Budget 2017: Statements (11 Oct 2016)

Kieran O'Donnell: I commend the budget. It recognises that people have come through very difficult times. The rebalancing in favour of spending over tax cuts in a 3:1 ratio is a recognition that we have come out of those difficult times and are now in a position to invest in order to drive further job creation and to provide proper services. It is a family friendly budget for a number of reasons. The...

Seanad: Budget 2017: Statements (11 Oct 2016)

Kieran O'Donnell: A few minutes will do.

Seanad: Budget 2017: Statements (11 Oct 2016)

Kieran O'Donnell: I shall leave it to the Cathaoirleach's superior wisdom.

Seanad: Budget 2017: Statements (11 Oct 2016)

Kieran O'Donnell: I did not think it was former.

Seanad: Budget 2017: Statements (11 Oct 2016)

Kieran O'Donnell: At 10.30 a.m. tomorrow.

Seanad: Commencement Matters: Road Projects (6 Oct 2016)

Kieran O'Donnell: I welcome the Minister to the House. Once again, I am raising the matter of the upgrading and building of the M20 motorway between Limerick and Cork. I am a public representative, representing Limerick city and a portion of the county. It is the single biggest item of infrastructure that needs to be completed in the State. I have raised this issue with the Minister on numerous occasions,...

Seanad: Commencement Matters: Road Projects (6 Oct 2016)

Kieran O'Donnell: I will go straight to the heart of the matter. In November 2011 the project was suspended. From discussions with officials, I understand that at that stage the bulk of the planning process, if not the entire process, had been completed and that the project was just about to be referred to An Bord Pleanála. Will the Minister allow the planning process to re-engage, which would amount...

Seanad: Commencement Matters: Road Projects (6 Oct 2016)

Kieran O'Donnell: I thank the Minister. That is a positive move. He will find that the planning process was at an extremely advanced stage and that this would represent value for the taxpayer.

Seanad: Action Plan for Education: Statements (6 Oct 2016)

Kieran O'Donnell: I welcome the Minister, Deputy Bruton, to the Chamber. He pioneered the action plan with the Action Plan for Jobs. As a way of a Department doing business, it was revolutionary at the time. He is bringing that same methodology to the Department of Education and Skills. It is slightly different in that the Action Plan for Jobs in the Department of Jobs, Enterprise and Innovation was very...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: In terms of regulation, is there any difference between Solvency I and Solvency II in terms of the regulation of insurance companies from Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: In his statement, Dr. Roux said, "the Solvency II directive squarely places the sole responsibility of financial supervision of foreign firms on foreign regulators". Has there been any change since Solvency I?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: That is fine. Under Solvency I, insurers were required to invest in relatively risk-free investments. Am I correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: What does Solvency II allow?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: We are dealing with people on the ground and the problem is in some cases, motor insurance premiums have gone through the roof. Is some cases, they will not even quote for motor insurance. The new Solvency II came in from 1 January 2016. Dr. Roux said he had seen no discernible change in the profile of investments.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (6 Oct 2016)

Kieran O'Donnell: Is it possible that insurance companies are effectively increasing motor insurance premiums to build up the reserves to enable them to change the diversity of their investment portfolios?

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