Results 6,821-6,840 of 19,445 for speaker:Brian Cowen

Order of Business (Resumed) (25 Oct 2007)

Brian Cowen: That is a matter that can be addressed in the context of Whips' meetings. When the terms of reference are prepared the Whip can undertake to discuss that matter with his colleagues.

Order of Business (Resumed) (25 Oct 2007)

Brian Cowen: I understand it is intended to have it taken this session.

Order of Business (Resumed) (25 Oct 2007)

Brian Cowen: It is to provide for a new scheme of financial support for persons requiring residential care in public and private nursing homes. It is the Minister's intention to try to have that legislation drafted as a matter of priority.

Written Answers — Tax Collection: Tax Collection (25 Oct 2007)

Brian Cowen: I have noted the recommendation of the Joint Committee on Finance and the Public Service regarding the time limit for claiming refunds of overpaid tax. My predecessor as Minister for Finance examined the whole question of taxpayers' entitlement to repayment of tax and interest with a view to introducing, in so far as practicable, a uniform scheme which was fair and reasonable for taxpayers,...

Written Answers — Disabled Drivers: Disabled Drivers (25 Oct 2007)

Brian Cowen: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, as well as relief from excise on the fuel used in the car, up to a certain limit. The disability criteria for these concessions...

Written Answers — Tax Code: Tax Code (25 Oct 2007)

Brian Cowen: I am advised by the Revenue Commissioners that as liability to income tax is established on the basis of a taxpayer's total taxable income their income tax statistics do not generally distinguish between the amounts of tax that arise from different sources of income. Accordingly the specific information requested by the Deputy is not available. With regard the second part of the Deputy's...

Written Answers — Tax Code: Tax Code (25 Oct 2007)

Brian Cowen: The cost to the Exchequer of extending the PAYE credit to farmers and the self employed, including proprietary directors, is estimated at €610 million in a full year. The cost of abolishing the PAYE credit and increasing the personal credit by the same amount is estimated at €750 million in a full year. The additional cost would arise because the personal credit is transferable between...

Written Answers — Tax Code: Tax Code (25 Oct 2007)

Brian Cowen: I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for separately identifying the capital gains tax (CGT) yield from payments made to farmers in respect of lands acquired by local authorities for road widening. Accordingly, the specific information is not readily available and either could not be obtained or could not be...

Written Answers — Tax Code: Tax Code (25 Oct 2007)

Brian Cowen: I assume that the Deputy has in mind the re-introduction of roll-over relief. It was announced in the 2003 Budget that no roll-over relief would be allowed for any purpose on gains arising from disposals on or after 4 December 2002. This relief was introduced when CGT rates were much higher than current levels. The abolition of this relief was in accordance with the overall taxation policy...

Written Answers — Departmental Staff: Departmental Staff (25 Oct 2007)

Brian Cowen: It is the practice in Government Departments and Offices that a proportion of internal promotions from the grade of clerical officer are made on the basis of seniority and suitability. I am informed by the Revenue Commissioners that clerical officers are promoted on a senior suitable basis in accordance with an agreed sequence of which currently 1 in 8 vacancies are filled by promotion to...

Written Answers — Tax Code: Tax Code (25 Oct 2007)

Brian Cowen: I am informed by the Revenue Commissioners that the only relevant information available is in respect of income tax relief allowed for contributions to Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) for the income tax year 2004. RACs and PRSAs are available to the self-employed and to employees not in occupational pension schemes. A distribution by...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: The Seanad has agreed a Government-sponsored amendment to the Bill relating to section 19. The purpose of this section still ensures that all non-deposit taking firms engaged in retail lending are subject to regulation by the Financial Regulator and brought within the scope of its consumer protection code. However, the technical drafting of this provision presented significant legal and...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: As we know from our discussion on the Bill, it is a complex area. We are talking about the attempt to incorporate a directive into our legislation, to deal with many complexities and financial products and to make sure our definitions are correct. These were subject to publication and, since then, various views have been outlined by practitioners in this area with the aim of ensuring we did...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: To accommodate the Deputy, I will address this matter. An issue arose in this regard which I should explain. There seems to be a view circulating that the provisions of section 16 were not brought to the attention of the House. First, the published explanatory memorandum to the Bill clearly sets out the background to the proposals put forward in section 16. Second, when I made my Second...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: I understand that under social welfare regulations the Department of Social and Family Affairs will make a pension payable from the date on which it becomes aware of an entitlement, even if an application is submitted subsequently. In the normal run of the mill case, the Department only becomes aware of an entitlement when it receives an application. Under the rules of the scheme it is...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: I discussed the amendment which I dealt with in my capacity as Minister with responsibility for the public service. I will bring the issue raised by Deputy O'Donnell to the Minister for Social and Family Affairs. The amendment to which the Deputy refers inserts a new section 29A in the Central Bank Act 1997, which allows the Financial Regulator to exempt both individuals and categories of...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: The purpose is to ensure we have a flexible business environment while at the same time protecting, where required — as was the objective of the part of the Bill — those who have taken out mortgages in the sub-prime market, as we all understand the term. The definitional requirements are to ensure that the Financial Regulator has flexibility with regard to others who operate within the...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: My reading of it is that they will be exempted from the requirement to be authorised. This may be a general exemption, given the line of business in question.

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: My understanding is that where the regulator is satisfied that there is no consumer issue involved, he or she could use the new section to exempt such businesses from authorisation in respect of the types of transactions I have outlined in the interests of the business being conducted without a time lag or the problems that would arise were the need for authorisation a general part of the...

Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: From the Seanad (31 Oct 2007)

Brian Cowen: Deputy Bruton is correct. Given the nature of the business, discretion is being left with the Financial Regulator's office rather than the Oireachtas in imposing non-exemptions that may militate against the conduct of business wherein the regulator does not perceive a consumer problem. Without mentioning names, I have sought to address other matters that have given rise to comment. People...