Results 8,341-8,360 of 11,861 for speaker:Brian Hayes

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: Yes.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: If we limit this at a certain threshold, we are affecting the total yield that can be taken in. The purpose of this measure is to take in a yield, which can allow us to stimulate the economy.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: One could look at any option one wants, but for the purpose of obtaining funds to help job creation we were left with that. The Senator rightly pointed out the different liabilities of a person who has paid in over a long period of years, compared to someone who has only been in the scheme for a short time.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: Let us be fair about this.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: Can I reply?

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: One of the benefits for the pensions industry is that tax treatment on contributions is at the marginal rate. We all know that. That is one of the reasons there has been rightly a significant amount of money put away. Those who have contributed over that period have been given a substantial effective tax subsidy by the State as a means of allowing them put money into such a vehicle. The...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: Yes.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: We are not in a position to make any assessment as to how much this would affect one case against the next. It all would depend on the information in each case. I heard Senator O'Brien, earlier in the debate and yesterday, state that there could be a 9% reduction in the yield to one individual. No one knows that as a matter of fact.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: No one knows that. It all would depend on the terms and the circumstances. On the question of tax relief - I will not go on about this - I made the point about the 41% marginal rate. In fairness to other Senators, not everyone is getting the yield at that. I make the point that pension treatment here is genuinely generously covered under the existing law. Senator Cullinane wants to get...

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: One must be consistent about it. If one is saying knock out one and not the other, it is not consistent. On the question of the funds roll-over,-----

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: -----as the funds roll over in the course of their existence this gives income and capital gains exemptions while the fund is accumulating, which is another significant benefit to people who put money away.

Seanad: Finance (No. 2) Bill 2011 (Certified Money Bill): Committee and Remaining Stages (16 Jun 2011)

Brian Hayes: As people exit, there is a tax-free lump sum. Between the marginal rate of tax, the fact that people are not eligible for income and capital gains exemption for the period of the funds rolling over and the lump sum, fair is fair here. In a circumstance where the country is where it is, I regard this as a measured proposal. I cannot accept recommendations Nos. 9 and 10.

Written Answers — Flood Relief: Flood Relief (21 Jun 2011)

Brian Hayes: I propose to answer Questions Nos. 89 and 90 together. The Office of Public Works received a number of funding applications from Kerry County Council on 31 May, 2011, under the Minor Flood Works & Coastal Protection Scheme. These applications include requests for funding to undertake embankment strengthening works at Cromane (north end) and Incherea. No application has been submitted by the...

Written Answers — Museum Projects: Museum Projects (21 Jun 2011)

Brian Hayes: Advancing the proposed Children's Museum project at a site at Heuston Gate, Kilmainham, Dublin, is entirely dependent on the availability of State capital funding. In the current economic environment, I cannot state when building work will commence.

Written Answers — Departmental Staff: Departmental Staff (22 Jun 2011)

Brian Hayes: The information sought is currently being compiled and will be forwarded directly to Deputy Broughan.

Written Answers — Offshore Islands: Offshore Islands (22 Jun 2011)

Brian Hayes: Garinish Island is planned to open to visitors on the 1st of April, 2012 and will remain open until the end of September – Easter Weekend in 2012 is 7/8 April. When Easter falls in March the Island always opens to coincide with this. The experience of OPW is that there are not sufficient visitors in March to justify the costs of rostering staff for this month. The gardening staff at the...

Seanad: Housing Market: Motion (22 Jun 2011)

Brian Hayes: I am grateful for the opportunity to participate in this important debate and I congratulate the Labour Party Senators for putting down the motion and instigating it. Nobody has a fount of exclusive wisdom on this issue. It is an enormous problem. Thankfully, the problem is still small in terms of repossessions in the last number of months but it will undoubtedly be with us for some time...

Seanad: Housing Market: Motion (22 Jun 2011)

Brian Hayes: Yes.

Seanad: Housing Market: Motion (22 Jun 2011)

Brian Hayes: That is a fair point. However, it is the Government's firm view that there is no reason the code should not be fully endorsed and operational by 30 June. If it is not, we will monitor it very closely. We all have a responsibility to ensure that people can stay in their homes and to work through a viable solution to ensure that the family home remains intact. Senators will be aware that one...

Seanad: Housing Market: Motion (22 Jun 2011)

Brian Hayes: Yes.