Results 7,901-7,920 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Capital Projects: Capital Projects (11 Dec 2008)

Brian Lenihan Jnr: The Central Expenditure Evaluation Unit (CEEU) in my Department has undertaken a substantial programme of direct spot checks of individual capital projects encompassing over 20 projects across six different Departments — Transport; Environment, Heritage and Local Government; Education and Science; Health and Children; Enterprise, Trade and Employment; and Arts, Sport and Tourism. On...

Written Answers — House Repossessions: House Repossessions (11 Dec 2008)

Brian Lenihan Jnr: I refer the Deputy to my answer to Dail Question No. 10 (Ref: 45358/08) of 11th December 2008. I would add that for 2007 as a whole, the total number of houses repossessed by mainstream lenders in Ireland was of the order of 50. My Department understands that the number of repossessions in 2008 to date is in line with this trend. The Deputy may wish to note that the level of repossessions in...

Written Answers — Economic Forecasts: Economic Forecasts (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 16 and 34 together. As I indicated in my response to an earlier question, the Budget forecasts were that the economy would contract by 1 per cent in 2009. Forecasts produced at the time by the ESRI and by the Central Bank set out a similar economic assessment. Reflecting the unprecedented recent economic developments since then, by end-November the consensus...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)

Brian Lenihan Jnr: Nobody wants a situation where viable businesses fail because banks will not lend them money. At my meetings with certain financial institutions over the last two weeks, I asked those institutions covered by the Government's guarantee Scheme to consider the contribution that they can make to the economy through appropriate credit initiatives in relation to small and medium sized businesses...

Written Answers — EU Recovery Plan: EU Recovery Plan (11 Dec 2008)

Brian Lenihan Jnr: I welcome the Commission's Plan as an important signal to EU consumers and business that Member States and the Commission are working together to help boost demand and to support business in these difficult times. The Plan recognises, however, that not all Member States are in the same position to help by a further fiscal stimulus but it also says that for those that have such scope they...

Written Answers — Departmental Programmes: Departmental Programmes (11 Dec 2008)

Brian Lenihan Jnr: Since the publication of the report referred to, the following measures have been taken by my Department: Firstly, as recommended by the Reach Review, the functions of Reach and the Public Service Broker were transferred to my Department in April, following which the recommendations of the Review regarding simplification and the use of off-the-shelf software were implemented. Secondly, early...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (11 Dec 2008)

Brian Lenihan Jnr: At the outset, I would point out to the Deputy that the Government has taken steps last October under Section 19 of the Markets in Financial Instruments and Miscellaneous Provisions Act, 2007, which amended Part V of the Central Bank Act, 1997, to provide for an appropriate system of authorisation and supervision by the Financial Regulator of retail credit firms engaged in specialist or...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)

Brian Lenihan Jnr: The terms and conditions of the Scheme include paragraph 26 of the Scheme, which states "Each covered institution shall, at such frequency as the Minister shall determine, confirm in writing to the Minister its compliance with the Irish Banking Federation Code of Practice on Mortgage Arrears and the Consumer Protection Code issued by the Regulatory Authority." Moreover, the Scheme requires...

Written Answers — Fiscal Policy: Fiscal Policy (11 Dec 2008)

Brian Lenihan Jnr: The NTMA have advised me that their annual net funding requirement is determined by the level of the Exchequer Balance and the amount of maturities of existing loans. Based on Budget 2009 projections, the NTMA has advised the market of its funding plans for 2009 which includes a €5 billion bond repayment in April 2009. As such a gross debt issuance requirement of €18.4 billion next year...

Written Answers — Decentralisation Programme: Decentralisation Programme (11 Dec 2008)

Brian Lenihan Jnr: As I announced in the Budget, the Government has reviewed the Decentralisation Programme in light of the changed economic circumstances and identified priority elements on which implementation should proceed at this time. The Government's decision will result in the relocation of approximately 6,000 posts to over 40 locations outside of Dublin in the current phase of the programme. This is...

Written Answers — Public Sector Staff: Public Sector Staff (11 Dec 2008)

Brian Lenihan Jnr: On 26 November 2008 the Government published the Report of the Task Force on the Public Service, Transforming Public Services, along with a major policy statement which sets out how the recommendations of the Task Force will be implemented. The Government statement recognises the need to be able to redeploy people in one part of the Public Service from activities which are no longer...

Written Answers — Tax Code: Tax Code (11 Dec 2008)

Brian Lenihan Jnr: Apart from the increase in the rate of the tax credit from 20% to 25 %, which I announced in my Budget Statement, the Finance Bill includes a number of other very significant changes to the R&D tax credit scheme including: an option to carry-back unused tax credits for set-off against the previous year's corporate tax liability, thus generating a tax repayment; a further option, where there...

Written Answers — Tax Yield: Tax Yield (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 27, 54 and 69 together. In the period since the Budget was presented to this House, the economic environment has become considerably more difficult. Many of our trading partners have entered recession and projections for demand in our key export markets have been revised downwards significantly. To put this into perspective, the IMF now expects economic...

Written Answers — Fiscal Policy: Fiscal Policy (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 28 and 71 together. In common with virtually all the world's advanced economies, Ireland is facing substantial economic and fiscal challenges in the immediate future. Ireland, however, is particularly badly affected and our scope to have a further fiscal stimulus on top of what we are already doing is extremely limited. Our first priority must be to stabilise...

Written Answers — Public Service Contracts: Public Service Contracts (11 Dec 2008)

Brian Lenihan Jnr: It is proposed that the new public procurement unit to be based in the Office of Public Works will (i) oversee procurement on the part of central Government Departments and Offices, agencies and non-commercial State bodies so that they can acquire a range of goods and services more effectively, efficiently and with better value for money; (ii) provide professional procurement advice across...

Written Answers — Tax Code: Tax Code (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 30, 40 and 45 together. I announced in Budget 2009 that an air travel tax will come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of €10 per passenger will apply, with a lower rate of €2 for shorter journeys. The Finance Bill confirms the introduction of an air travel tax from 30 March 2009....

Written Answers — Tax Collection: Tax Collection (11 Dec 2008)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that investigations carried out under the various legacy enquiries revealed the use of offshore trusts in the settlement of funds by Irish residents on non-resident trustees. The existence of such trusts came to light in the probing and examination of financial records and transmission of funds in individual cases. These investigations highlighted the...

Written Answers — Departmental Expenditure: Departmental Expenditure (11 Dec 2008)

Brian Lenihan Jnr: No specific provision has been made for the cost of the first phase (3.5%) of the new agreement: Towards 2016 — Review and Transitional Agreement 2008-09, scheduled for 1st September 2009. The cost arising would have to be found from within existing allocations. There is also a pay contingency amount of €40m provided for in 2009. No additional provision has been made for increments for...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (11 Dec 2008)

Brian Lenihan Jnr: I announced in my Budget speech that I was conducting a review of the National Pensions Reserve Fund in the context of recent economic and fiscal developments. I asked Mr Maurice O'Connell, former Governor of the Central Bank, to conduct the review. Mr O'Connell has now submitted his review to me and I am considering his conclusions. As I stated in my Budget speech, any changes requiring...

Written Answers — Tax Code: Tax Code (11 Dec 2008)

Brian Lenihan Jnr: The levy will apply where employers provide parking facilities for employees in the urban centres of Cork, Dublin, Galway, Limerick and Waterford. The specific areas to which the levy will apply and the date from which the levy will apply will be designated by me by way of Order. This will be done after appropriate consultation has been carried out. I can, however, confirm at this stage that,...