Results 5,321-5,340 of 19,445 for speaker:Brian Cowen

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: It is not all talk and no action, obviously, because we have been experiencing growth rates which are two and half times the EU average. I assure the Deputy that the finance ministers in Germany and France would love to have a little more inflation in their economies, so they could have annual growth rates of 5.3% or 5.4%.

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: They would love to have more domestic demand in the economy.

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: Wage increases in Ireland have significantly outstripped inflation. Pensions have increased by 85% in the period mentioned by the Deputy, whereas inflation has been 30%. We would have been waiting a long time to get to that level if pensioners got increases of just £1.50 a week, which is what they were getting the last time the Labour Party was in Government. Under the social partnership...

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: I do not know who else the Deputy expects to build houses. The capacity of the construction industry has expanded in recent years, thankfully, so it is now able to meet demand by providing up to 80,000 houses per annum. That contrasts with an annual average of between 30,000 and 35,000 houses when Deputy Burton's party was last in office.

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: These are all indications of increased capacity.

Economic Competitiveness. (7 Feb 2007)

Brian Cowen: Annual house price inflation has decreased to approximately 5% over the last six months.

Credit Card Debt. (7 Feb 2007)

Brian Cowen: As the Minister for Finance, I am charged with putting in place an appropriate and robust legislative framework for the regulation of the financial services sector, with a particular focus on the consumer. I am satisfied that such a framework has been in place since the Financial Regulator and the Financial Services Ombudsman's Bureau were established. All credit card providers must comply...

Credit Card Debt. (7 Feb 2007)

Brian Cowen: I was referring to the Minister of State, Deputy Parlon, who has an interest in this question as well.

Credit Card Debt. (7 Feb 2007)

Brian Cowen: The Deputies opposite are not on my horizon. The Deputy may wish to note that credit card debt represents less than 2% of personal sector credit and less than 1% of overall private sector credit. In addition, credit card data refers to debt outstanding on all credit cards at the end of the month and includes balances that may be paid in full at the payment due date. The increase in the...

Credit Card Debt. (7 Feb 2007)

Brian Cowen: Current levels of credit debt could become a cause of concern if they continue. However, I do not believe the current levels of indebtedness represent a substantial risk to the economy. It is to be expected that consumers seek to make use of the continuing levels of interest rates, which are historically low. Nevertheless, I fully support the vigilance of the Central Bank and the Financial...

Credit Card Debt. (7 Feb 2007)

Brian Cowen: The Money Advice and Budgeting Service was established to help people manage their money with a view to regaining control of their finances, including how to avoid falling into difficulty as a result of debt. MABS provides an extensive range of money advice, personal budget and community education services where necessary and liaises with financial institutions on behalf of clients. There...

Public Service Contracts. (7 Feb 2007)

Brian Cowen: Under the Department's February 2005 guidelines for the appraisal and management of capital expenditure, a full cost-benefit analysis or CBA is required to be carried out by public sector agencies as part of the detailed appraisal for all major projects over €30 million in value. It is the responsibility of the project sponsoring agency to carry out the cost-benefit analysis. The...

Public Service Contracts. (7 Feb 2007)

Brian Cowen: With regard to Transport 21 and the national development plan, there is a strong framework in place for the delivery of value for money in the planning and administration of projects. As regards appraisal, a full cost-benefit analysis is required for projects worth over €30 million, with other forms of appraisal required for projects below that level. We are moving to fixed price...

Public Service Contracts. (7 Feb 2007)

Brian Cowen: During the course of the latter years of the last development plan, a level of expertise and competence has been built up in the implementing agencies and as a result large projects are coming in on time and within budget, even before time in many instances. Everyone now recognises that this learning curve has been achieved and will continue.

Public Service Contracts. (7 Feb 2007)

Brian Cowen: I disagree. The price of these projects included the cost of acquiring the land which was an issue and subsequent negotiations put a much higher figure on the cost than would have been the case in the original appraisal. It is a fact that construction inflation occurred because we did not have the capacity in the economy. Construction inflation in 2000 amounted to 12% and 9% in 2001 but it...

Tax Code. (7 Feb 2007)

Brian Cowen: The Deputy may wish to note that a table headed Classification of Tax Reliefs — where Tax Expenditures Go and providing classification of the income tax reliefs costing an estimated €11.6 billion for 2003, the last available year, is included on page B.15 of the Budget 2007 book. This gives a full breakdown of the reliefs in question. I will read out the details if the Deputy wishes.

Tax Code. (7 Feb 2007)

Brian Cowen: The two major reports on tax reliefs undertaken in the context of last year's budget were published along with the Finance Bill. They give a detailed and clear assessment of many of these reliefs. The majority of the moneys are in respect of the following categories. Basic personal credit amounts to more than €5 billion; personal reliefs such as child benefit, €327 million; mortgage...

Tax Code. (7 Feb 2007)

Brian Cowen: The Deputy is being a little unfair in neglecting to mention the benefits delivered by tax reliefs, as outlined in the Indecon report. It emerged from the report that many of the reliefs could be phased out because the economic objectives for which they had been introduced had been broadly achieved. Considerable benefit accrued from many schemes, including in the area of urban renewal and...

Tax Code. (7 Feb 2007)

Brian Cowen: I assume the Deputy is referring to the presentation by the Irish Taxation Institute, ITI, to the Joint Committee on Finance and the Public Service on 17 January on the under-claiming of allowances and reliefs by PAYE taxpayers. I understand the ITI, in its presentation, suggested the introduction of a "one claim, one form" approach for securing tax reliefs. This would be a retrograde step...

Tax Code. (7 Feb 2007)

Brian Cowen: At the Deputy's request, I will reconsider that matter. The Revenue Commissioners' plan for the development of PAYE through their operations policy and evaluation division is managed by an assistant secretary and contains two substantial units which monitor daily performance of the PAYE system. It plans future improvements and provides a wide range of information leaflets and guides aimed...