Results 41-60 of 123 for nama speaker:Richard Bruton

Economic Competitiveness (7 Jun 2012)

Richard Bruton: ...support job creation, including in each of the areas identified by the Deputy. For example, the majority of local authorities have reduced or frozen their annual rates of valuation at 2011 levels, NAMA is taking action to place downward pressure on rents in its property portfolio, a series of actions is aimed at reducing energy costs and improving energy efficiency for enterprises and...

Written Answers — Company Closures: Company Closures (18 Apr 2012)

Richard Bruton: ...to be paid to landlords. However, in Budget 2012, the Minister for Finance, Mr Michael Noonan TD, gave a commitment that downward pressure will be placed on commercial rents in respect of which NAMA has acquired the loan on the underlying property. NAMA has developed a Guidance Note for dealing with tenants' difficulties arising from upward-only rent reviews in relation to its own...

Written Answers — Commercial Rents: Commercial Rents (25 Jan 2012)

Richard Bruton: ...provides a mechanism to deal with disputes on commercial rents and can help to resolve issues at a lower cost, in considerably less time, and in a less adversarial way for the parties concerned. NAMA also has a policy guidance for dealing with tenants' difficulties arising from upward-only rent reviews. This provides an opportunity for NAMA to approve rent reductions where it can be shown...

Written Answers — Economic Competitiveness: Economic Competitiveness (25 Jan 2012)

Richard Bruton: ...provides a mechanism to deal with disputes on commercial rents and can help to resolve issues at a lower cost, in considerably less time, and in a less adversarial way for the parties concerned. NAMA also has a policy guidance for dealing with tenants' difficulties arising from upward-only rent reviews. This provides an opportunity for NAMA to approve rent reductions where it can be shown...

Financial Resolution No. 12: Life Assurance Policies and Investment Funds (6 Dec 2011)

Richard Bruton: ...and a false boom being created. Our difficulty is the opposite. There is no confidence to come into the market and no one is buying. That has knock-on effects. Other Deputies raised the issue of NAMA. If NAMA, which is charged with the responsibility for recovering for the taxpayer as much as it can from the loans it holds, is faced with a dead property market the taxpayer loses out....

Order of Business (30 Jun 2011)

Richard Bruton: ...Government inherited, where bonuses paid were not related to genuine performance. There is now greater transparency. For the first time, details have been published of earnings in the NTMA and NAMA. That is a significant step forward. The Government is keen to curb bonuses and to introduce a scheme where bonuses would only be paid for genuine performance.

Written Answers — Departmental Agencies: Departmental Agencies (25 May 2011)

Richard Bruton: ...The Office provides an independent review process for SME's (including sole traders and farmers) who have had requests for credit refused or reduced, or existing credit facilities withdrawn by the NAMA banks – effectively AIB and BOI who provide approximately 60% of all lending to the SME sector. In addition to the targeted state supports provided to SMES, the Government is also...

Loan Guarantee Scheme: Motion (Resumed). (20 Oct 2010)

Richard Bruton: ...and some jobs for his neighbours. They are not in that space; it is not what they are doing. They are trying to survive and shrink their loan books. The Government thought, foolishly, that NAMA acquiring their impaired loan books would change that. It was not going to change it. The Government thought some recapitalisation to fill the hole created by appalling losses would change it,...

Economic Issues: Motion (6 Jul 2010)

Richard Bruton: ...jobs. Today's announcement with more information about the Government's banking policy rubs salt in the wound for people. Many Members on this side of the House are not surprised to find that NAMA in its amended business plan has revised by 80% the projected profit it hoped to make. It was to be €5 billion but now it is down to €1 billion, yet officials have only examined 20% of the...

Anglo Irish Bank. (28 Apr 2010)

Richard Bruton: ...I ask that question because I heard him quote in the past documents coming from Anglo Irish Bank in respect of its estimate. It based that estimate on the basis that the loans being transferred to NAMA were worth €26 billion when it transpired it was out by €7 billion. There was a massive gap. Are we depending on the somewhat rose-tinted assessments that are conducted within Anglo...

Anglo Irish Bank. (28 Apr 2010)

Richard Bruton: I have two supplementary questions for the Minister. Did Rothschilds endorse the first Anglo version that assumed its loans transferring to NAMA would be far more valuable? This might give us an idea of the quality of the advice the Minister is getting from Rothschilds. Also, when will the House see legislation for the orderly resolution of a bank that is no longer of systemic importance...

Strategic Investment Bank: Motion. (27 Apr 2010)

Richard Bruton: ...loans, and it said it was cheaper to keep the bank going but within weeks of it producing that analysis to the effect that its loans are worth 70% of their book value, we suddenly discovered that NAMA, which was appointed by the State to put a value on them, disagreed. It had written them down not at 70% but 52% and there are questions about the adequacy of that to accurately reflect the...

Central Bank Reform Bill 2010: Second Stage (Resumed) (21 Apr 2010)

Richard Bruton: ...for the future. It is now clear to me and to many people in the general public that many still in the banking system believe that once the taxpayer has ponied up with the guarantee, the cost of NAMA and the recapitalisation they can simply return to business as usual. However, the taxpayer is in no mood to accept that. The taxpayer rightly demands to see in Ireland the same sort of...

Central Bank Reform Bill 2010: Second Stage (20 Apr 2010)

Richard Bruton: ...banks and institutions of huge systemic importance that must be kept afloat at all costs. The third element of the banking strategy, on which we were given assurances time after time, was to trust NAMA because it would get credit flowing. Yesterday we heard from Irish Nationwide Building Society that it will not get one ounce of credit going and it is clear that the €2.7 billion will be...

Banking System: Statements (1 Apr 2010)

Richard Bruton: ...have double the spreads of Spain, so we are not in a robust position on spreads. The question that must be asked has been posed by Professor Lucey in today's newspapers. As he describes it, what NAMA is undertaking is the virus of funding short to buy long. The very tactic that brought down Lehmans is still rampant in NAMA. The Minister is proposing to borrow six month money on a...

Banking System: Motion (30 Mar 2010)

Richard Bruton: ...there is also the reality that the banks will hoard capital to try to defend their position over the coming months and avoid the State taking over. I am grievously worried about what is occurring. NAMA was mentioned least of all in the Minister's speech today. We are creating the largest property management company in the world. The IMF has warned that State-run asset management...

Banking System: Motion (30 Mar 2010)

Richard Bruton: ...: "noting the complete failure of Government banking policy to support the provision of credit to personal and business banking customers; suspends the transfer of toxic loans from all banks to NAMA and subsequent recapitalisations until: — a costing of Fine Gael's alternative 'good bank/bad bank' plan for Anglo Irish Bank is commissioned from independent economic experts at the OECD;...

Banking System: Motion (30 Mar 2010)

Richard Bruton: ...words look now. When the first €11 billion in recapitalisation funding was introduced in the House, we were told this would result in credit flowing. How hollow those words have been. When NAMA came along, we were told there would be a wall of money in the banks available for lending and within weeks we heard the chief executive officers of the banks explaining the reality to us. The...

Banking System: Motion (30 Mar 2010)

Richard Bruton: The doubling of the national debt today is significant. A total of €11 billion has been put in to recapitalise the banks and later we will vote on NAMA spending €43 billion to acquire toxic loans. The Minister stated €11 billion will be used for recapitalisation, most of which will go to Anglo Irish Bank, and a further €10 billion will be paid to that bank later. We are, therefore,...

Finance Bill 2010: Report Stage (Resumed) (10 Mar 2010)

Richard Bruton: This proposal was never debated in the House. It was brought in by way of a Report Stage amendment to the NAMA legislation. It was guillotined in such a way that the House never got an opportunity to debate it in any shape or form. Deputy Ring and others should have had an opportunity to debate this penal rate of tax. It was done on the understanding that nothing would be affected by the...