Results 1-20 of 22 for pearse doherty segment:2969836

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

The Dail Divided: For the motion: 14 (Paul Bradford, Paddy Burke, Jerry Buttimer, Paul Coghlan, Maurice Cummins, Pearse Doherty, Frances Fitzgerald, Nicky McFadden, David Norris, Joe O'Reilly, Joe O'Toole, Eugene Regan, Shane Ross, Liam Twomey) Against the motion: 26 (Martin Brady, Larry Butler, Ivor Callely, Ciarán Cannon, John Carty, Donie Cassidy, Maria Corrigan, Mark Daly,...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Hear, hear.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: He only had the information for 900 schools out of over 4,000. He does not know about the other more than 3,000 schools.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: No wonder the bail-out Bill was so bad.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: No.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Tell that to the special needs children. A marginal adjustment.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: That is an outrage. These are special needs children.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I cannot say the right word without offending the Minister of State. I will leave it at that. He can probably think of what I was going to say.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Perhaps Senator Twomey would like to return to that amendment.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I move amendment No. 3c: In page 3, before section 2, to insert the following new section: "2.—The Minister shall not direct the Commission to use funds from the National Pension Reserve Fund in excess of €7 billion for the purposes of investing in any financial institution without the consent of both Houses of the Oireachtas.".

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Yes. I move amendment No. 3b: In page 3, before section 2, to insert the following new section: "2.—Any senior manager or any executive of a financial institution which is availing of funds under the National Pension Reserve Fund shall return all bonuses which have been collected as part of his or her remuneration in that financial institution over the past three years.".

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I move amendment No. 3e: In page 3, before section 2, to insert the following new section: "2.—Any drawdown of funds under the terms of this Act will have sole application to the primary banking activities of either beneficiary and will be confined to the said financial institution's activities wholly within the island of Ireland.". Am I right in saying that amendment No. 5 was supposed to...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

..., Ned O'Sullivan, Brian Ó Domhnaill, Labhrás Ó Murchú, Ann Ormonde, Kieran Phelan, Mary White, Diarmuid Wilson) Against the motion: 13 (Paul Bradford, Paddy Burke, Jerry Buttimer, Paul Coghlan, Maurice Cummins, Pearse Doherty, Frances Fitzgerald, Nicky McFadden, David Norris, Joe O'Reilly, Eugene Regan, Shane Ross, Liam Twomey) Tellers: Tá, Senators Glynn and...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I am disappointed that the Minister of State will not accept the amendment. The National Pensions Reserve Fund has entered into new territory. As we have said, it is not being used for the purposes for which it was originally established. Annual reporting may have sufficed in the past. I do not question the best standards or practices used in such reporting. Now that we are funding banks...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Amendment No. 3e deals with the drawdown of funds under the terms of this legislation. Sinn Féin proposes that the funds should have "sole application to the primary banking activities of either beneficiary" and should be "confined to the said financial institution's activities wholly within the island of Ireland". In other words, the moneys that are drawn down should be used as we want...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I am not happy with the Minister of State's response. In trying to play down home repossessions, claiming the figures for them are not as great as they are in other countries, the reality is that home repossessions have increased 100% over the past year. Repossessions before and after Christmas have increased at an even higher rate. Home repossession is just not a statistic. It is the...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: The amendments make a straightforward proposal and, like Senator Twomey, I can find no reason the Government should not accept them. They do not propose to prevent the Government from investing in excess of €7 billion in the banks but simply to require it to seek the approval of both Houses of the Oireachtas before proceeding with any such measures. They seek to avoid giving the...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: Is the Minister saying the €7 billion can be used by AIB or any other institutions to provide massive loans in places such as New York, Boston, Chicago, Poland, Britain, Scotland and Spain where there are branches of these banks and that there is no guarantee that this money will be spent on the island of Ireland? The Minister says the Bill is to allow us to invest in these institutions...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Pearse Doherty: I move amendment No. 3d: In page 3, before section 2, to insert the following new section: "2.—The Minister for Finance shall make a quarterly report to both Houses of the Oireachtas on all financial institutions availing of funds from the National Pension Reserve Fund.". This is another simple amendment. We might have to make these amendments a little simpler if the Minister of State is...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Eoghan Harris: While I generally agree with Senator Doherty's desire for fairness, I am not in favour of this sort of tinkering with small aspects of the general crisis. The entire matter of remuneration, not just of the banks but across the whole public sector, will come under savage scrutiny in coming times. Since before Christmas I have been saying unemployment will hit half a million and I have since...