Results 5,101-5,120 of 19,445 for speaker:Brian Cowen

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: This rate cut will cost a net €125 million in 2007 and a net €186 million in a full year. If this Government is returned to office, and is honoured with a further term, then on the basis of our current economic strength being maintained, it is our shared intention to complete the commitment to cut the top income tax rate to 40% in next year's budget.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: I propose to increase the health levy from 2% to 2.5% on income exceeding €1,925 per week or just over €100,000 per year. This extra money will help fund services such as long-term care initiatives for the elderly. We need to act now to secure such funds and I believe it is only right that those best able to afford it make an increased contribution. This will raise €34 million in a...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In the case of the seed capital scheme, the annual investor limit is being increased to €100,000. I am increasing these limits in order to bring vital risk capital to the small business sector. As these schemes are approved State aids, their continuation and the changes proposed will require the approval of the European Commission. The full year cost of these measures is estimated at...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: Over 97% of Irish companies will have the benefit of this simpler and more straightforward system. It will help them to get on with their business without putting the State's cash flow at risk. I am also introducing measures proposed by Revenue whereby new start-up companies will not have to pay preliminary tax in respect of their first accounting period. In addition, I have asked Revenue...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: A further €270 million will be provided to fund a programme of purchases up to 2013 and this will be reflected in the Government's medium-term investment programme to be set out in the forthcoming national development plan.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: This provision will be kept under review. The purchase of carbon allowances is just one part of the overall strategy. We will shortly complete an updated version of the national climate change strategy.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In more general terms, on the environment we have made progress on many fronts, including enhancing public transport facilities under Transport 21; setting an ambitious target of 30% electricity generation from renewable sources; making rapid improvements in drinking water quality; significantly increasing high-quality waste water treatment capacity resulting in 90% compliance with EU...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: ——and the nitrates action programme will resolve the problem of water pollution from the overuse of phosphates and nitrates and will also reduce our greenhouse gas emissions.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: We have allocated €328 million in 2007 for the rural environment protection scheme. This includes provision for a new REPS 4 scheme, which will go to Brussels shortly for approval as part of Ireland's rural development programme for the period 2007 to 2013. The new scheme will include additional biodiversity elements and new supplementary measures designed to deliver further benefits to...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: I would like to mention a number of measures in the fiscal area which I am bringing forward. Environmental taxation In the case of vehicle registration tax, I intend to change the current rating system to relate it more closely to environmental policy objectives, in this case reducing carbon dioxide emissions. I intend that there should be some reward in the VRT system for choosing...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: For that reason, I am setting out a range of options in the budget booklet for making such a move. My Department will carry out a public consultation process on these proposals before coming back to Government. Any changes will have effect from a target date of 1 January 2008. At the same time, my colleague, the Minister for the Environment, Heritage and Local Government will consult on his...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: Linking consumption taxes to environmental goals requires us to discuss the details of such moves thoroughly with stakeholders if we want to get it right. Energy In my last budget, I announced an excise relief scheme for bio-fuels in the energy area. The relief is worth more than €200 million over five years. This initiative helps reduce our dependence on conventional fossil fuels, lowers...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In the commercial area, we introduced a bio-heat scheme for grant-aiding, for example, wood pellet burners. I am extending this scheme to cover the installation of other technologies such as solar panels. I am also extending it to buildings in the non-commercial sector such as community centres, and sports facilities so that they will also be able to avail of the grants. The planned...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: This will reduce the incentive to source these fuels in Northern Ireland where no excise is applied. This measure will cost €24 million in a full year. Supporting Farming and Rural Economy A competitive farming sector is the key to developing a sustainable rural community. It is important that as farmers are increasingly freed from the constraints of production quota and price supports,...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In line with the changes announced in my previous two budgets and arising from the conclusion of the latest social partnership agreement, Towards 2016, I am renewing and extending a series of farm tax reliefs in the areas of income tax and capital taxes, at a cost of €14 million in a full year. The two farm stock reliefs are being renewed. The general stock relief allows 25% of any...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: The tax exemption for long-term leases of farmland is being increased to €20,000 per annum for leases of ten years or more in duration. An exemption from capital gains tax applies to disposals of farmland outside the immediate family on retirement. The present threshold for the exemption is €500,000 and this is being increased to €750,000 from 1 January 2007. In addition, where...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: These consultations are ongoing. Supporting those in Need When it comes to supporting those in need one of the measures of a true republic is the strength of its support for those on low incomes. Throughout its term in office, the Government has ensured that the less well-off have shared in Ireland's growing prosperity and 2007 will see further, significant progress. Today, I am pleased to...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: ——substantially more than allocated for 2006. Old Age Pensions I want to recognise the contribution made by our pensioners. These are the people whose work built up this country at a time when conditions were much tougher.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In the good times we enjoy, we owe it to them to make their lives a little more comfortable. We had a headline commitment to raise the old age pension to at least €200 per week during our term of office. I wish to confirm today, that by raising the contributory old age pension by €16 per week and the non-contributory pension by €18 per week, we have fulfilled this commitment. The new...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: ——for the non-contributory old age pension. Lowest social welfare rates In the Sustaining Progress Partnership Agreement, we also undertook to increase significantly the lowest rates of social welfare. In my first budget, I increased the lowest rate by €14 a week and, in my second budget, the increase was €17. In today's budget I am happy to announce an increase of €20, bringing...