Results 7,021-7,040 of 16,537 for speaker:Brian Lenihan Jnr

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Brian Lenihan Jnr: Deputy Shatter raised a question which was subsequently raised by Deputy Rabbitte during the last section about a domestic credit institution under this legislation which was taken over by a bank from another jurisdiction and became a wholly owned subsidiary of that jurisdiction. He asked whether it would continue to benefit from the guarantee scheme envisaged in this——

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Brian Lenihan Jnr: Yes, equally in that circumstance. As noted by Deputies, the crucial, fundamental point in this legislation is in section 6, that financial support "may" be provided in a formal manner determined by the Minister. The Minister is not required to provide financial support under this legislation. A scheme will be brought to the Houses for discussion and, if approved, it will be implemented in...

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Brian Lenihan Jnr: Were a permanent instability established, the Government's policy would be to take shares.

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Brian Lenihan Jnr: Not necessarily. I am answering the question in Deputy Burton's amendment, that it should be mandatory to take shares. I am outlining circumstances in which we would take shares. I am also suggesting there could be a temporary shortage of liquidity where the taking of shares might not be essential and where a more valuable consideration could be obtained, The crucial point is that if an...

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Brian Lenihan Jnr: Deputy Burton raised a matter that I should have dealt with in my previous reply. The guarantee given under the scheme will be commercially valued and is a commercial transaction. Deputy Burton detected some confusion in my remarks in respect of that guarantee and another guarantee. The guarantee referred to in the interpretation section can be a wider guarantee supported by Central Bank...

Written Answers — Tax Code: Tax Code (1 Oct 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that tips and gratuities, which are discretionary and not included on the customer's bill as part of the amount legally obliged to be paid by the customer, have always been, and will continue to be, outside the scope of VAT. Revenue operated a concession for a number of years, whereby service charges in hotels and restaurants were not regarded as...

Written Answers — Financial Services Regulation: Financial Services Regulation (1 Oct 2008)

Brian Lenihan Jnr: I refer the Deputy to the answer to Questions Nos. 18 (Ref: 31447/08), 60 (Ref: 31320/08 and 87 (Ref: 31660/08) on Thursday's Order Paper (25 September 2008).

Written Answers — Decentralisation Programme: Decentralisation Programme (1 Oct 2008)

Brian Lenihan Jnr: I can confirm that the position in relation to the planned relocation of the Department of Education and Science to Mullingar remains as outlined in my letter of 15th September, 2008 to the Deputy. I expect to present the reports referred to in my letter to Government over the coming weeks and I will be in touch with the Deputy again when the reports have been considered.

Written Answers — Tax Yield: Tax Yield (1 Oct 2008)

Brian Lenihan Jnr: Section 397 of the Taxes Consolidation Act 1997 deals with losses arising on the cessation of a trade, generally referred to as "terminal losses". On the cessation of a trade, losses incurred in the last twelve months may be set back against profits for the proceeding three years and corporation tax will be repaid accordingly. The currently expected yield from corporation tax in 2008 takes...

Written Answers — Tax Code: Tax Code (1 Oct 2008)

Brian Lenihan Jnr: The position is that, under section 469 of the Taxes Consolidation Act 1997, expenses incurred in respect of medical or dental treatment in an EU country are eligible for income tax relief, provided the treatment is carried out by a practitioner or in a hospital. However, health expenses relief has a specific exclusion in relation to the provision of routine dental treatment, which is...

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: The Senator has no solution.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: The Senator wants me to reveal the details of a confidential meeting.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: I am not attacking the Senator.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: What tent is the Senator talking about?

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: They do not know that.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: First, I thank Members for their diligence in attending to this legislation, which did not commence in this House until after midnight. I understand this is the first time since the foundation of the State that Seanad Éireann has sat and considered all stages of legislation after midnight. There is a reason for this. Markets are watching Ireland all the time and it is important that we...

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: Such a measure would have further overheated an already overheated housing sector.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: We have a collective responsibility.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: There seemed to be an obsession with chasing the vote in south Dublin at the expense of the coping classes and younger people.

Seanad: Credit Institutions (Financial Support) Bill 2008: Second Stage (1 Oct 2008)

Brian Lenihan Jnr: The reason I raised the contentious issue of the abolition of stamp duty is that people want us to deal with the problems they have, rather than analysing the past.