Results 7,041-7,060 of 19,445 for speaker:Brian Cowen

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: I refer the Deputy to the reply I gave earlier on this question.

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: The Deputy is aware that this area of the market accounts for just 2% of the Irish mortgage market, compared to about 15% in the United States. She is also aware that as regards lending in the market and taking steps to improve the situation for borrowers, people lending in the area uphold basic standards. Section 19 of the Markets in Financial Instruments and Miscellaneous Provisions Act...

Written Answers — Tax Code: Tax Code (20 Nov 2007)

Brian Cowen: As I indicated in reply to an earlier question today, Question No. 52, in Budget 2007, I announced a public consultation regarding the possibility of changing the current VRT system to take greater account of environmental issues, and in particular Carbon Dioxide (CO2) emissions. It is a long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax or...

Written Answers — Price Inflation: Price Inflation (20 Nov 2007)

Brian Cowen: The most recent Consumer Price Index figures show that in the 12 months to October 2007, the category of goods classed as "fuels and lubricants" has increased in price by 7 per cent, with its component parts — petrol, diesel and motor oil — increasing by 7.5 per cent, 5 per cent and 6.2 per cent respectively, while liquid fuels (which would include home heating oil) have increased by...

Written Answers — Tax Code: Tax Code (20 Nov 2007)

Brian Cowen: I have stated previously that taxation can play a part in attaining environment objectives which includes promoting energy efficiency and reducing emissions. Using taxation as a mechanism to subsidise activity that yields overall benefits to the economy has been a tool used by successive administrations, often delivering very positive results. In order to promote the development of biofuels...

Written Answers — Fiscal Policy: Fiscal Policy (20 Nov 2007)

Brian Cowen: Under our international obligations arising from the Kyoto Agreement and in line with the aims of the Government as set out in the Programme for Government we are committed to reducing our Greenhouse Gas Emissions. Fiscal measures are one of the levers available to the Government and these may be considered as part of our overall response to the demands of meeting our targets. The Programme...

Written Answers — Tax Forecasting: Tax Forecasting (20 Nov 2007)

Brian Cowen: The Tax Forecasting Methodology Review Group was set up earlier this year to review the manner in which my Department forecasts tax revenue. The Group's report has recently been submitted to me. As I have only recently received the report my consideration of the findings and recommendations of the report is still ongoing.

Written Answers — Proposed Legislation: Proposed Legislation (20 Nov 2007)

Brian Cowen: I propose to take Questions Nos. 59 and 107 together. The Standards in Public Office Act 2001 already allows the Standards in Public Office Commission to carry out 'own initiative' investigations, where it considers it appropriate to do so, on "specified acts" and on breaches of other provisions of the Ethics legislation, by persons in its area of responsibility, and as defined in the...

Written Answers — Semi-State Sector Remuneration: Semi-State Sector Remuneration (20 Nov 2007)

Brian Cowen: Prior to 1999 the remuneration of chief executive officers of commercial State bodies was set by the relevant Ministers on the basis of recommendations of the Review Body on Higher Remuneration in the Public Sector. In 1998, on foot of recommendations from the Review Body, the Government adopted new arrangements for setting the remuneration of these posts. Management consultants were asked...

Written Answers — Programmes for Government: Programmes for Government (20 Nov 2007)

Brian Cowen: I refer the Deputy to my response to Parliamentary Question No. 54 which I answered on 1 November this year. In that response I pointed out that the Programme for Government is a five year programme in which a number of guiding principles in relation to economic and budgetary matters have been set out. At the time, I also pointed out that the Pre-Budget Outlook, which set out my Department's...

Written Answers — Disabled Drivers: Disabled Drivers (20 Nov 2007)

Brian Cowen: I have received many representations regarding the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme. This 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...

Written Answers — Price Inflation: Price Inflation (20 Nov 2007)

Brian Cowen: At Budget time I forecast that inflation as measured by the Consumer Price Index (CPI) would average 4.1 per cent for 2007. The most recent inflation figures released by the Central Statistics Office are for October and show CPI inflation running at an annual rate of 4.8 per cent. On foot of the information available at end September, I published a revised set of economic forecasts in the...

Written Answers — Tax Code: Tax Code (20 Nov 2007)

Brian Cowen: The Deputy may recall that I have answered Parliamentary Questions on this issue over the past year, including on 4 July 2007 and in recent weeks. The 2003 EU Energy Tax Directive incorporated special derogations which allowed specific excise duty reliefs to be applied in a number of Member States. In the Irish context, these derogations allowed for reduced rates to apply to fuel used for...

Written Answers — State Aid: State Aid (20 Nov 2007)

Brian Cowen: My Department has received two state Aid notifications from the European Commission since Budget 2007. In February of this year, a Commission Decision was received concerning the exemption from Excise Duty on Mineral Oils used as fuel for alumina production in the Shannon region. Ireland has challenged the Commission Decision pursuant to Article 230 of the EC Treaty to the European Court of...

Written Answers — Tax Code: Tax Code (20 Nov 2007)

Brian Cowen: I am advised by the Revenue Commissioners that under Section 124 of the Stamp Duties Consolidation Act 1999, stamp duty of €40 is chargeable in respect of credit card accounts and charge cards maintained by a financial institution at any time during the twelve month period ending on 1 April in each year (referred to as the year of charge). In the case of credit cards, the duty is levied on...

Written Answers — Economic Growth: Economic Growth (20 Nov 2007)

Brian Cowen: On Budget Day 2007 my Department forecast economic growth of 5.3% for 2007, in both GDP and GNP terms. The Pre-Budget Outlook published last month, which contains forecasts updated to take into account developments up to end September 2007, projected growth rates of 4% in GDP terms and 4% in GNP terms for 2007. The revision to growth is as a result of weaker domestic demand, mainly due to...

Written Answers — Tax Collection: Tax Collection (20 Nov 2007)

Brian Cowen: The Revenue Commissioners are dealing in a very determined way with tax evasion and are very effectively using the additional powers they have been given in recent years. For example, Revenue special investigations, capitalising on the powers given in the Finance Act 1999 and subsequent legislation, have yielded a total of €2.4 billion to date. Revenue's normal audit programme each year...

Written Answers — Revenue Audits: Revenue Audits (20 Nov 2007)

Brian Cowen: I propose to take Questions Nos. 69 and 108 together. I am advised by the Revenue Commissioners that mortgage interest relief is applied at source since 1st January 2002. Under this scheme, a borrower applies for tax relief on a self-declaration basis. The relevant institution then confirms the existence of the loan and once approved by Revenue, the lender, in most instances, reduces the...

Written Answers — Proposed Legislation: Proposed Legislation (20 Nov 2007)

Brian Cowen: Some of the proposals for the amendment of the Ethics Acts suggested by the Standards in Public Office Commission are of a technical nature. The more substantive of the Commission's proposals are being examined, though I should say that I have no plans for the preparation of a consolidated Ethics Bill at this stage. Furthermore, as I have already indicated in response to previous...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (20 Nov 2007)

Brian Cowen: Ireland's system of financial regulation is based largely on a comprehensive and detailed EU template and conforms to international best-practice standards. The role of the Minister for Finance as regards financial regulation is to develop policy and bring forward proposals to the Oireachtas for the regulation of the financial services sector. Once that legislation has been enacted, the...