Results 161-180 of 1,150 for speaker:Frank Fahey

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: I have a question for Deputy Burton that she can answer in her own time. Does she now think that it would have been a good idea to raid the National Pensions Reserve Fund when the advice of the independent National Treasury Management Agency was that it was not in the best interests of the fund and that it did not adhere to the principles on which the agency was set up to invest money in any...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: I know I am touching a nervous vein.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: The reality is that the Labour Party, and particularly Deputy Burton, wanted to raid this fund against the advice of the National Treasury Management Agency at a time when we were spending major amounts of money in this country——

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: It is just as well that those kinds of policies were not implemented and the Government did not give in to Deputy Burton or to the Labour Party when they were suggesting irresponsible policy at that time.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: While the investment value of the fund is going down, I have no doubt that it will increase again.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: I have no doubt that the investment, the first €4 billion invested in the two main banks, will have a significant impact in ensuring that we have a good banking sector in this country. While there are no proposals to put more money in at this time, and we hope there will not be, this is enabling legislation that allows for further investment in the banks if necessary.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: It also allows for the setting up of a company or body corporate as an investment vehicle. This will allow the commission the flexibility to invest through the investment vehicle where it is more efficient than investing directly. That is an important and significant amendment that will allow for future requirements in respect of liabilities that may have to be taken over as we try to...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Second Stage (Resumed) (4 Mar 2009)

Frank Fahey: It requires the disclosure of positions in financial instruments. As we have seen recently it is vital that investors with a significant investment in particular companies or banks should declare them and these should be known to the markets. Damage was done in that respect and it should not be repeated. I wholeheartedly support this Bill and I hope the Labour Party, in becoming a more...

Order of Business (26 Feb 2009)

Frank Fahey: The Deputy tore up the jersey last weekend.

Banking System: Motion (25 Feb 2009)

Frank Fahey: Fine Gael is playing party politics at a critical time for the economy. By engaging last week in baseless accusations, smear and innuendo, it sought to drag through the mud the good name of the Taoiseach and the Government. If it really had the national interest at heart, it would not seek to undermine measures we are taking at every opportunity for economic recovery. If they really had the...

Banking System: Motion (25 Feb 2009)

Frank Fahey: The tone and style of the contributions made by Fine Gael and the Labour Party in the Dáil in recent weeks have contributed to such headlines. I can appreciate that Deputies Rabbitte and Varadkar take pleasure in the kind of negative approach evident in the House in the last two nights.

Banking System: Motion (25 Feb 2009)

Frank Fahey: On the issue of international confidence, it is worth noting that there are reasons to believe some UK-based foreign hedge funds are spreading false rumours about the state of the Irish economy. They are comparing Ireland to Iceland, for example, to try to force the sovereign default on which they have placed their bets. The approach of Fine Gael and the Labour Party is sustaining the hopes...

Nursing Homes Support Scheme Bill 2008: Second Stage (Resumed). (17 Feb 2009)

Frank Fahey: I welcome the Bill and congratulate the Minister for Health and Children, Deputy Harney, and the Minister of State, Deputy Hoctor, on bringing it forward. It has taken a long time to get to the House and is a result of long and complex negotiation and discussion in which many were involved. It was worth waiting for as it puts right an anomaly that existed in this country for years. We will...

Recapitalisation of Allied Irish Banks and Bank of Ireland: Motion (12 Feb 2009)

Frank Fahey: I would only be moving my overdraft.

Recapitalisation of Allied Irish Banks and Bank of Ireland: Motion (12 Feb 2009)

Frank Fahey: Listening to Deputy Shatter reminds me that the shock tactic approach being adopted by Fine Gael, and exemplified by Deputy Shatter's call for everybody to be run out of the banking system, will not solve any problem. While there is certainly need for reform and for changes at many levels in the banking system, it is important that we adopt a responsible and reasonable approach, which is...

Recapitalisation of Allied Irish Banks and Bank of Ireland: Motion (12 Feb 2009)

Frank Fahey: ——as opposed to some of the populist type of opposition that we have seen. If my good friend, Deputy Michael D. Higgins is becoming concerned, the result of the last poll, where the Labour Party's rating was static while the Green Party standing increased by 3%, was a response to the type of "all things to all men" approach being taken by Deputy Higgins's party leader. I hope he will...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Frank Fahey: I believe that five minutes is plenty. I want to make two proposals to the Taoiseach and Minister for Finance. In this time of unprecedented financial and fiscal challenge, which is affecting every economy in the western world, we need to act in solidarity as a nation. As part of the public reform process the Taoiseach should establish a new Department of public service innovation. The...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Frank Fahey: I know Opposition Members do not like this because it would call their bluff.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Frank Fahey: We should let the Opposition see the books.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Frank Fahey: It is very important that we have solidarity and responsible Government and Opposition.