30 September 2008
Underwriting proposal necessary and important – Boyle
Finance spokesperson says guarantees are better for consumers than rescue packages
The Government's proposal to put in place a guarantee arrangement for the Irish banking system as outlined today by the Minister for Finance, is a necessary confidence-giving measure said Green Party Finance spokesperson Senator Dan Boyle.
The Green Party Chair said: "In contrast to the approaches being taken in the US and the UK, where bad debt and failing banks are being taken directly into state ownership, the Irish Government's proposal could have the effect of costing less but instilling greater confidence in terms of foreign investment and the ability for more lending from these institutions, which in turn will act as a impetus to further economic activity.
"A great deal of detail will need to be examined in the legislation that will accompany this proposal, but the Green Party is satisfied that the correct approach is being taken.
"This is not a bailout of Irish banks. It will, in fact, be beneficial to Irish banking customers. The scheme will result in less cost, and be of more advantage to the consumer than the State having to step in to rescue a failed bank – as has happened in the US, the UK, and elsewhere in Europe," Senator Boyle concluded.
23 September 2008
Boyle rejects suggestion Combat Poverty should be subsumed into Government departmentIndependent voice needed on poverty issues
Green Party spokesperson on Social and Family Affairs Senator Dan Boyle, today spoke against the suggestion that the activities of the Combat Poverty Agency should be subsumed into the operations of the Office of Social Inclusion, which is an integral part of the Department of Social and Family Affairs.
Senator Boyle said: "The Green Party believes that the development of effective policies on poverty depends on the existence of a strong, independent, analytical voice that cannot be aired from directly from within Government.
"While the review of Combat Poverty will show that there areas in the Agency which they need no longer be involved in; and there are areas in which its activities need to be streamlined; any proposal that compromises the independence of Combat Poverty and its work, is a bad one," Senator Boyle concluded.
