Results 8,301-8,320 of 16,537 for speaker:Brian Lenihan Jnr

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: The Stability and Growth Pact statement includes an annual tax prediction. Factored into this are the matters about the offset of taxation to which the Deputy referred. My Department has advised me it is confident the €2 billion reduction envisaged in the Stability and Growth Pact will be secured as the Government, by virtue of this decision taken several weeks into the year, has already...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: I am grateful for it.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: Regarding medical and legal fees, it relates to Government contracts and arrangements in connection with them. It will require legislation because the State is, in effect, altering contractual or legal arrangements. It will apply to all medical and legal professionals, so in principle it will apply to persons who act at tribunals. The question of whether private clients of a professional...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: It is a matter for the private market that exists. One can go to a different doctor if necessary. It is essential that we tackle costs throughout our economy. It is the one clear economic message in this announcement. We must reduce our costs. It is not just a matter for the public sector. If necessary legislation is needed to restore competitiveness to sheltered private sectors, the...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: I will begin with the Houses of the Oireachtas Commission because it is where the bulk of politically-related expenditure rests and it is important that is addressed. I welcome the spirit of what was said by Deputy Burton and I am sure the different parties will work together on the commission in the national interest to secure the necessary savings. Its budget is tri-annual and it will be...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: I am working through each of the issues in turn. Regarding Ministers of State, the Taoiseach made it clear in the House yesterday that everybody has to work in the current crisis, including Ministers of State. They will have to work in this crisis but he has no immediate proposals for a reduction in their numbers. The Government takes the view that Ministers of State are necessary to...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: As regards the pension levy, tax relief clearly applies at the marginal rate. It is a pension levy and not a levy on any other type of income. It applies to all gross income, including the various expenses that Deputy Burton referred to, though in advance of the legislation I will not particularise it in any individual context. In principle, it applies to all gross income. As regards the...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: First of all, no public servant is paid less than the minimum wage, as I am sure the Deputy understands. There are public servants who work part-time, but they are not paid less than the minimum wage.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: The minimum wage is based on an hourly calculation on the assumption of full-time work. It is important to put this point on the record of the House. No public servant is paid less than the minimum wage.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: If a public servant is engaged in part-time employment for a part-time income, the levy may apply to that income.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: As regards the question on job creation and retention, I did not get an opportunity to reply to Deputy Bruton when he raised that point earlier. If we want to create jobs in this country the first item we must address is to give ourselves credibility in terms of our public finances. Of course the Government will make a stream of decisions on job retention and creation, and has been doing so...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: Any constructive proposals the Deputy wishes to advance in that regard will be addressed. Deputy Bruton referred, for example, to the question of export risk insurance, which can be examined. I must point out, however, that it would be extraordinarily prohibitive for the State to insure against the risk related to currency differentials in the present climate. However, constructive...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: In December, the Government published a comprehensive framework on economic renewal.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: Particular actions will be taken on foot of that.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: There is a large number of questions to deal with. Deputy English raised a large number of issues relating to the responsibilities of the Tánaiste and Minister for Enterprise, Trade and Employment. However, I thank him for their constructive character in the context of job protection in the current economic situation. With regard to financial arrangements, in the announcement made by the...

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: Some of the figures that have been put into the public domain are not accurate in that respect.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: I am glad the Deputy has given me the opportunity to comment on the National Pensions Reserve Fund. Legislation will be introduced in the House to discuss this matter. Any moneys invested by the National Treasury Management Agency or the pension fund will be invested for a full return. For example, any preferential shares——

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: No, there will be a cash return. This is a financial and commercial operation, not an operation connected with public expenditure. There would be no return, in financial terms, to the investment proposed by the Deputy.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: I will examine it, but what the Deputy proposes would abolish the fund. I understand the Deputy's concern at the loss of jobs in Shannon and will take the issue up with the Minister. The Deputy put a final question, but I was not able to make a note of it.

Stabilisation of the Public Finances: Motion (Resumed) (5 Feb 2009)

Brian Lenihan Jnr: With regard to that levy, higher levies apply in the Netherlands and in Great Britain, but they do not seem to have the effects the Deputy has outlined.