Results 6,201-6,220 of 19,445 for speaker:Brian Cowen

Written Answers — Decentralisation Programme: Decentralisation Programme (3 Jul 2007)

Brian Cowen: I am informed by the Revenue Commissioners that the Office of Public Works are in advanced negotiations for a five year lease on a premises in Athy that will accommodate 75-80 Revenue staff. The premises is expected to be available towards the end of the year.

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I wish the outgoing Cathaoirleach well on his retirement and the Acting Chairman, Senator Mary Henry. It has always been a pleasure to come and listen to the contributions of the Upper House, where a far more sedate and intellectual atmosphere pervades. It is great to see that Members of the university panel have taken time out of their busy schedule to be with us as well.

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I look forward to the reforms they are anticipating and I hope it is not turkeys voting for Christmas. Anyway, let us look forward to a good representative university panel——

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: We are obviously here to ensure the place is alive today. I wish everyone well and hope everything goes well for Members. It is with a sigh of relief I can say this on the far side of an election. I thank everyone for inviting me to speak on the Finance (No. 2) Bill 2007. This is my fourth time to speak on Finance Bills in this House. Members will recall I first addressed the House in...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: In next December's Budget Statement I intend to increase the ceiling of mortgage interest relief for first-time buyers from €8,000 to €10,000 for single people and from €16,000 to €20,000 for couples or widowed people. This will see single first-time buyers receiving up to €167 in mortgage interest relief directly into their bank accounts every month while couples will receive up...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: Are they first-time buyers?

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I thank Senators on all sides of the House for their contributions. How long do I have to respond?

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I will not delay too long. Senator Phelan misrepresented my position with regard to this matter, which unfortunately occurs all the time. As Minister for Finance, I do not have the luxury of speculating week-in, week-out on television programmes outside of a budgetary context. This was afforded to those in the Opposition with regard to what they wanted to do about stamp duty in the context...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: When speculation arose prior to Christmas, the Government decided to deal with it in the budget not only those prospectively entering the market but also buyers already in the market. The question of doubling mortgage interest relief became a targeted, affordable, equitable and appropriate response in the context of the most benign interest rate regime seen in Ireland in modern economic...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: My critique of the Opposition was always that its proposal would disrupt the market. Without going through the entire matter in detail, I will state the problem with the Opposition approach. On the basis it knew the economy was going well and was being well managed, it was an ill-thought out initiative and its origins were in an attempt to win votes on the economy. The Opposition sought to...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I listened and I will reply to all that was stated. It is important that facts are put on the table.

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I wish to give my critique of the situation. The Opposition made its suggestion at a time when a necessary correction was taking place with regard to unaffordable housing on the basis of double-digit house price inflation. It is necessary for a sustainable housing market to correct itself. While this correction took place, this proposal was made with a scatter-gun approach to change audit...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: These are the facts. It is Senator Phelan's problem if he does not wish to hear them. The Opposition thought this would be a vote winner but it did not work out that way. The reason is that the scattered approach it had would reflate house prices and the benefit would go not to purchasers but to sellers. That was the basic problem. If it was the case that under the stamp duty regime in...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: Exactly. This is not a budget.

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: Let me explain. The Senator can come back to me whenever he wishes. I did not initiate this debate. When this debate was initiated in a pre-budgetary context, the Government discussed it and came to a conclusion on it and spoke on it. Within two months, as we headed into an election campaign, the matter ignited again. It ignited in the first quarter of the year within eight weeks of a...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: ——which were undertaken during the democratic debate but which were outside the budgetary context and which, therefore, reinforced uncertainty rather than brought about clarity. The clarity that has been achieved — in the context of all first-time buyers — is that only first-time buyers will benefit under targeted approach A. The message in that regard has been received. The second...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: In respect of people who refer to the wider question of reforming stamp duty, the point is often made about the rate of such duty in other jurisdictions. Such jurisdictions have annualised property taxes and other ways of financing local government. What we have decided to do, quite rightly in my opinion, as regards a strategy for creating employment and ensuring economic growth here, is to...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: I am referring to the Labour Party, which supported the proposal of the Senator's party in respect of this matter. The proposal to which I refer would have helped wealthier people. It would not have been progressive and it would not have catered for the needs of those without equity or first-time buyers to the same extent that it would have aided those one the top threshold purchasing...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: An effort was made to buy the electorate but it failed. The electorate did not buy the proposal because the parties involved could not explain it, because it did not make sense and because they could not answer simple questions. When asked when its reform would be introduced, Fine Gael and Labour indicated they did not know. They also stated it would be introduced over three years. When...

Seanad: Finance (No. 2) Bill 2007: Second Stage. (3 Jul 2007)

Brian Cowen: The people did not buy it because they are not fools. People are discerning and one must appeal to their common sense and to their sense of logic. They knew this proposal meant the longer first-time buyers stayed out of the market, the better off they would be because it would take three years to implement. What sensible party that knows anything about the dynamics of employment or the...