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Blog Archive | Finance

Cowen can't answer key questions on Budget

Posted on October 27, 2010

Once again when questioned by the Labour Leader Eamon Gilmore TD, the Taoiseach refused to answer questions regarding key information which would be vital to a proper debate on the economy.

"The House is due to take statements on the macro-economic and fiscal outlook, it will be difficult to debate such a matter in the absence of the information," Eamon told the House during Leaders' Questions this morning.

Eamon specifically referred to not being given the definitive growth forecast for next year, the detailed macro-economic growth forecast for the next four years, including forecasts and projections relating to consumption, investment, interest rates, wages, export, imports and unemployment.

Read the full entry »

Permanent link | Comments | Categories: FinanceLeaders QuestionsEamon Gilmore

Gilmore asks Cowen to publish key Budget figures

Posted on October 20, 2010

"We do want to have a responsible discussion about the economic and financial situation but one cannot have it in a vacuum. Basic information needs to be provided," the Labour Leader Eamon Gilmore TD said today.

He made the comments during Leaders' Questions this morning when he asked Cowen to publish key Budget figures.

"The first piece of information we need to know is what are the growth forecasts for next year and if we are to have a four-year budgetary plan we also need to know the forecasts for the four years.

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Permanent link | Comments | Categories: FinanceEamon GilmoreLeaders Questions

Joan on Black Thursday

Posted on September 30, 2010

Earlier today we made a short video with our Deputy Leader Joan Burton TD . In it Joan talks about Black Thursday; how the Government has failed as well as talking about some of the things that Labour would do differently.

If you're on Twitter you can follow Joan and don't forget to add Labour too and you can find a list of all our other representatives who are on twitter at this link.

Permanent link | Comments | Categories: FinanceJoan Burton

Taxpayer paying the price for Fianna Fail's failure

Posted on September 30, 2010

"This is the price of failure," Eamon Gilmore Leader of the Labour Party told the House this morning during the Order of Business referring to the fact that the taxpayers will be paying the price of Fianna Fail's failure on the bank bailout.

"We have now been told the final bill. This is the price of failure. It is the price of the property bubble, of the light regulation that Fianna Fáil has presided over, of bad government and of the blanket bank guarantee.

"It is the bill that Fianna Fáil is leaving to the people of this country. It amounts to between €45 billion and €50 billion."

You can read all the proceedings from the House on the Oireachtas website and view Eamon's contribution on the video.

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Permanent link | Comments | Categories: FinanceEamon GilmoreLeaders Questions

Cowen refuses to divulge cost of Anglo

Posted on September 29, 2010

The first Leaders' Questions of the Dáil term saw the Labour Leader Eamon Gilmore TD demanded that the Taoiseach tell the House the final figure for Anglo Irish Bank.

"It is extraordinary that the Taoiseach tells us that he does not know the figure that will be announced tomorrow and that it has not been finalised yet. Is that the way the financial affairs of the country are being run?

"Is the Taoiseach seriously telling us that the Government has made a decision to come in here and ask for another extension on the guarantee without knowing where we are in terms of the cost of the last one and, in particular, where we are in regard to the Anglo Irish Bank figure?

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Permanent link | Comments | Categories: FinanceEamon GilmoreLeaders Questions

Gilmore challenges Cowen on mounting costs of NAMA

Posted on July 06, 2010

This afternoon the Labour Leader Eamon Gilmore TD challenged Cowen on the mounting costs of NAMA during Leaders' Questions in the House.

"Can the Taoiseach explain to us why the original business plan for NAMA that was presented to the House has turned into a bit of a financial fairy tale.

"Will the Taoiseach confirm that when the Minister for Finance came before us and asked us to approve NAMA, that he did so on the basis of projections which now turn out not to be accurate?

Eamon continued to press the Taoiseach on NAMA and concluded asking if the Taoiseach expects NAMA, given the reports, will make a profit.

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Permanent link | Comments | Categories: Finance

Ireland has the worst bank in the world - Gilmore

Posted on July 01, 2010

Ireland has come first in the league tabled for having the worst bank in the world, the Labour Leader Eamon Gilmore told the House this morning.

"We are told today that Anglo Irish Bank is the biggest lose-maker of any bank in the world and that is on top of the fact that the Irish bank bailout is the most expensive in the world," he said.

Despite this revelation the Government proposed to guillotine the debate on the Central Bank Reform Bill, which deals with the regulatory matters governing banks.

You can see Eamon's full contribution on the accompanying video while the full exchange is available on the Oireachtas website while the Irish Times has an article on the proceedings at this link.

Permanent link | Comments | Categories: FinanceLeaders QuestionsEamon Gilmore

Biggest crisis facing the country is unemployment

Posted on June 30, 2010

With the highest number of people ever unemployed in the State the Labour Leader Eamon Gilmore TD urged the Government to take unemployment seriously and get people back to work.

"That's 300,000 more than were on the live register when the general election took place in 2007. It is 100,000 jobs lost each year that the Government in its present form has been in office and 2,000 jobs lost each week," he said.

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Permanent link | Comments | Categories: FinanceEamon GilmoreLeaders Questions

Is the money gone?

Posted on June 22, 2010

"Is the money gone" Eamon Gilmore TD, Leader of the Labour Party, asked the Taoiseach this afternoon during Leaders' Questions. Eamon was referring to comments by the Chief Executive of Anglo Irish Bank who told a Dáil committee last week that most of the €22 billion of taxpayers' money paid into the bank will not be seen again.

Eamon pressed the Taoiseach about the comments adding that he was interested in proposals costing €5.5 billion put forward by IBEC, ICTU and the Construction Industry Council aimed at getting the 140,000 building workers who have lost their jobs back to work. Eamon added the €22 billion paid to Anglo would have funded those proposals for 4 years.

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Permanent link | Comments | Categories: FinanceEamon GilmoreLeaders Questions

Banking buck stops with Cowen

Posted on June 10, 2010

"Have you had a chance to read the two damning indictments of our banking crash", writes the Deputy Leader of the Labour Party, Joan Burton TD.

"The two reports, one by international experts and the second by the Governor of the Central Bank , lay the blame fairly and squarely on the Government and in particular, on the Taoiseach, the then Minister for Finance and secondly of the total failure of the Central Bank and the Regulator to do their job of supervising the banks and preventing a crash."

Joan talks more about these issues in the video, do let us know what you think in the comments section below.

Permanent link | Comments | Categories: FinanceJoan Burton

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