Results 6,661-6,680 of 19,445 for speaker:Brian Cowen

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: I am advised by the Revenue Commissioners that there has been no change to the VAT treatment of services provided by psychotherapy practitioners. The position is that the rules and rating structure is determined by EU law with which Irish law must comply. Professional medical services are exempt from VAT in accordance with paragraph (iii) of the First Schedule to the Value-Added Tax Act...

Written Answers — Child Care Services: Child Care Services (16 Oct 2007)

Brian Cowen: The Government is well aware of the difficulties faced by many parents and families in securing affordable childcare and to this end, it has provided more options to increase the choices available to parents, and has developed a 5 year strategy, to address the supply and the cost of childcare. Childcare has become a central pillar in a diverse range of Government strategies aimed at tackling...

Written Answers — Decentralisation Programme: Decentralisation Programme (16 Oct 2007)

Brian Cowen: I have no plans to decentralise any staff of my Department or staff of the agencies under the aegis of my Department to Counties Monaghan or Cavan.

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: I am informed by the Revenue Commissioners that the relevant information available is the amount of tax revenues collected as Mineral Oil Tax (excise) and VRT in respect of motor vehicles. Details as follows: 2007 Budget Estimate 2007 Current estimated Outturn € million € million Mineral Oil Tax 2,200 2,165 VRT 1,538 1,421 The yield from VAT on cars, petrol, auto diesel and other...

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: The Budget 2007 forecast for Stamp Duty was for €3,925 million to be collected in 2007, a year on year growth rate of 5.6 per cent above the 2006 outturn. Stamp Duty was expected to represent 8 per cent of total tax forecast for this year. Stamp Duty at the end of September was €401 million or 13.8% below profile. This is largely due to the weakness in the level of Stamp Duty collected...

Written Answers — Tax Yield: Tax Yield (16 Oct 2007)

Brian Cowen: At Budget 2007 Income Tax receipts for 2007 of €13,555 million were forecast. This represented an increase over the 2006 outturn of 9.4 per cent year on year. At the end of September Income Tax receipts were, at €8,823 million, €56 million or 0.6 per cent above profile. On the basis of the end-September figures and in light of the positive economic outlook for employment and earnings I...

Written Answers — Price Inflation: Price Inflation (16 Oct 2007)

Brian Cowen: The Consumer Price Index (CPI) is designed to measure the change in the average level of the prices paid by consumers for goods and services. It measures in index form the monthly changes in the cost of purchasing a representative basket of consumer goods and services. The Director General of the Central Statistics Office has sole responsibility for, and is independent in, deciding the...

Written Answers — Economic Competitiveness: Economic Competitiveness (16 Oct 2007)

Brian Cowen: On Budget Day 2007 my Department forecast economic growth of 4.6% for 2008, in both GDP and GNP terms. However, the outlook for 2008 has changed, mainly due to the outlook for new housing output which has disimproved somewhat from what was envisaged at Budget Day; this is likely to have an impact on aggregate economic growth rates in 2008. Updated economic growth and tax forecasts, reflecting...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 Oct 2007)

Brian Cowen: The information available suggests that the level of lending in the sub-prime market is currently extremely small. For instance it is estimated that sub-prime loans make up roughly 2.5% of the overall mortgage market. The sub-prime market exists to provide finance to those who have difficulty accessing mainstream credit, usually due to an adverse credit history or difficulties proving...

Written Answers — Financial Services Regulation: Financial Services Regulation (16 Oct 2007)

Brian Cowen: A comprehensive system of banking supervision is in place under both EU and domestic law to ensure that credit institutions do not put customers' deposits at risk through imprudent lending practices. Banking Supervision encompasses the authorisation of banks and building societies, their prudential supervision on an ongoing basis and the development of supervisory guidance and requirements...

Written Answers — Price Inflation: Price Inflation (16 Oct 2007)

Brian Cowen: Annual inflation as measured by the Consumer Price Index (CPI) was 4.6 per cent in the year to September. A better measure of inflation is the Harmonised Index of Consumer Prices (HICP) which excludes, amongst other things, mortgage interest. Including the impact of mortgage rate increases in the CPI not only masks the underlying inflation rate, but also highlights the short term impact of...

Written Answers — Decentralisation Programme: Decentralisation Programme (16 Oct 2007)

Brian Cowen: A progress report by the Decentralisation Implementation Group (DIG) was submitted to me and published on 8th October last. The Group reported that implementation of the civil service elements of the Decentralisation Programme is progressing satisfactorily. At the end of August 2007, over 3,000 staff had been assigned to decentralising posts. Almost 1,300 of these are currently in place,...

Written Answers — Price Inflation: Price Inflation (16 Oct 2007)

Brian Cowen: The latest available figures for the Harmonised Index of Consumer Prices (HICP) show that annual inflation for the twelve months to August, in the 13 euro area countries, was highest in Slovenia, at 3.4 per cent, second highest in Greece, at 2.7 per cent, while Ireland was third highest, at 2.3 per cent. The euro area country with the lowest HICP increase in that period was the Netherlands,...

Written Answers — Tax Code: Tax Code (16 Oct 2007)

Brian Cowen: I will be bringing proposals to Government in the near future on matters relating to the establishment of the proposed Commission on Taxation including its membership and terms of reference. Pending consideration by the Government of these proposals. I am not in a position to elaborate further on matters pertaining to the Commission.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: I move: "That, pursuant to Standing Order 127, it be an instruction to the Committee on the Markets in Financial Instruments and Miscellaneous Provisions Bill 2007, that it has power to make provision in the Bill: to repeal sections 9 and 10 of the Insurance Act 1936 and to make consequential amendments to the European Communities (Non-life Insurance) Regulations 1976 and the European...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: Given the Deputy's particular interest in that area, I am most surprised.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: It was a matter of constant criticism.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: I thank Deputies for their contributions regarding the motion and the proposed amendments. It is important that I bring forward legislation to regulate the sub-prime lending sector at the earliest opportunity. However, it is not possible to legislate for every possible interaction between a customer and a financial institution. Indeed, attempting to do so could stifle innovation and...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: I always knew Deputy Bruton was amused by important documentation. Regarding the issue raised by Deputy O'Donnell on non-deposit taking lenders, it is important to point out that they do not hold deposits taken from the public. The question of prudential regulation, therefore, does not arise in that respect. We are regulating their dealings with their customers and, as I set out in my...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Motion to Instruct Committee (17 Oct 2007)

Brian Cowen: A problem certainly arose in Britain in that respect but it was not an issue in Ireland. In respect of the impact of the sub-prime market on global markets, it is important to note that the sub-prime market constitutes 15% of the US market but less than 1% here. From a practical point of view, it is important that home reversion products and activities such as lending on the basis of...