Results 8,601-8,620 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: It is estimated that the savings in the various bands mentioned by the Deputy from a 5% cut in salary would be as follows: Band Estimate 2009 Estimate Full Year â'¬ â'¬m â'¬m 50,000 upwards 290 350 60,000 upwards 160 195 70,000 upwards 125 150 80,000 upwards 95 115 There is no breakdown readily available on the distribution of pensions among retired public servants generally....

Written Answers — Public Sector Pay: Public Sector Pay (17 Feb 2009)

Brian Lenihan Jnr: The estimated numbers of public service employees (not including local authorities) in the salary bands in question (not including other payments such as overtime) are as follows: Number above €50,000 102,000 above €60,000 45,000 above €70,000 31,000 above €80,000 22,000

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: The information required by the Deputy is as outlined in the following table. The information covers retired Civil Servants whose pensions are tied to the stated salary levels. I, as Minister for Finance, have statutory responsibility for Civil Service pensions. Statutory responsibility for Public Service pension schemes outside the Civil Service rests with relevant Ministers in other...

Written Answers — Fiscal Policy: Fiscal Policy (17 Feb 2009)

Brian Lenihan Jnr: The National Treasury Management Agency (NTMA) have advised me that Ireland has a net financing need of some €24.5 billion in 2009. This is based on: the forecast Exchequer Borrowing Requirement of €18 billion as set out in the Addendum to the Stability Programme Update; the refinancing of a €5 billion bond which matures in April; and some €1.4 billion in respect of the frontloading...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Feb 2009)

Brian Lenihan Jnr: The Deputy should note that for the purposes of reporting a consistent figure across the covered institutions, that a money market instrument is defined as short-term unsecured instruments with a maturity of one year or less and excludes deposits. As at the 31 December 2008, the aggregate value of outstanding money market instruments maturing in 2009 for the covered institutions is...

Written Answers — Public Service Contracts: Public Service Contracts (17 Feb 2009)

Brian Lenihan Jnr: Initiatives by my Department in regard to construction procurement will yield savings but these will not be quantifiable for a number of years when projects which are currently using the new form of contracts come to a conclusion. The National Operations Unit will be established in the current year with a remit to procure goods and services and has been set a target of achievable savings of...

Written Answers — Tax Code: Tax Code (17 Feb 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a P21 balancing statement for 2007 will issue to the taxpayer in the coming days.

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: The pension related deduction entails a deduction of 3% on the first €15,000 of annual income, 6% on the next €5,000 and 10% on the balance. This amounts to an average deduction of around 7.5% although the effect varies at different income levels. This produces a total gross saving of €1.35 billion when applied to the relevant part of the public service pay bill (excluding employers...

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: The Minister for Finance has statutory responsibility for civil service pensions. Statutory responsibility for public service pension schemes outside the Civil Service rests in the first instance with the relevant Ministers in other Departments, as appropriate. The number of civil servants in 2008 is estimated at 38,572 in whole time equivalent terms. The number of civil servants making...

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: While the actual payments to a person after retirement will depend on the actual salary at retirement the actuarial costs for public servants are not generally derived for different pay rates. The actuarial costs of public servants pensions are generally expressed as a percentage of pay over the working life of a typical employee of the group in question. These costs depend not just on...

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 145, 146 and 151 together. The approach to the pension related deduction is that it applies generally given the fact that all public servants enjoy the benefits of a public service pension which provides for greater security and more favourable terms than the generality of private sector pensions. The graduated approach to the payment is to ameliorate...

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 147 to 149, inclusive, together. Public servants at all pay levels have access to public service pension schemes. These schemes are superior to the generality of such schemes applying in the private sector, both in relation to security and the terms on offer. It is appropriate, therefore, that a deduction should be made to reflect this reality at a time when...

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: The Minister for Finance has statutory responsibility for Civil Service pensions. However, statutory responsibility for public service pension schemes outside the Civil Service is a matter in the first instance for the relevant Ministers in other Departments, as appropriate. Policy responsibility for the oversight of private sector pensions is a matter for the Minister for Social and Family...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Feb 2009)

Brian Lenihan Jnr: The Government believes that pay restraint is important in the overall context of the economy and the financial supports being provided by the taxpayer to the covered institutions under the Credit Institutions (Financial Support) Scheme 2008 (the Scheme). Section 47 of the Scheme requires each covered institution to prepare a plan to structure the remuneration packages of directors and...

Written Answers — Semi-State Bodies: Semi-State Bodies (17 Feb 2009)

Brian Lenihan Jnr: As in the case of commercial State sponsored bodies I, as Minister for Finance, do not have statutory control in relation to the pay of ESB employees generally. My sole responsibility as regards pay in the ESB relates to the remuneration of the chief executive officer.

Written Answers — Pension Provisions: Pension Provisions (17 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 154 and 172 together. The Deputy asks if the Minister will support a matter, i.e. major concerns from public sector workers on the equity of pension levy. The Government has brought forward several measures to restore stability to the public finances, to maximise economic activity and employment and to improve competitiveness. The new pension-related payment...

Written Answers — Tax Yield: Tax Yield (17 Feb 2009)

Brian Lenihan Jnr: It is assumed that the threshold for the proposed new tax bands mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2009 incomes, would be of the order of €435...

Written Answers — Public Service Contracts: Public Service Contracts (17 Feb 2009)

Brian Lenihan Jnr: Full and precise data on the country of origin of companies winning public contracts is not available as this type of information is not published for all contracts. However, analysis of the available data on the national public procurement website, www.etenders.gov.ie, where about 95% of all advertised public contracts are published, indicates that: 83.5% of high-value contracts (i.e.,...

Written Answers — Tax Collection: Tax Collection (17 Feb 2009)

Brian Lenihan Jnr: I assume that the Deputy is referring to the scheme of capital allowances for private hospitals, which was introduced in the Finance Act 2002. Based on the information that has been received and collated for the tax year 2005, there were 67 claims for €7.7 million capital allowances for the construction of private hospitals. This figure would correspond to a maximum Exchequer cost of the...

Written Answers — Tax Collection: Tax Collection (17 Feb 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant information available relates to the cost to the Exchequer of tax relief in respect of a range of property-based incentives derived from personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for 2005. The information on estimated costs is set out on an itemised basis in the following...