Results 8,601-8,620 of 19,445 for speaker:Brian Cowen

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Apr 2008)

Brian Cowen: The role and functions of the Financial Services Ombudsman (FSO) in dealing with consumer complaints complements that of the Financial Regulator in protecting the interests of consumers of financial services as a whole. During the passage of the FSO legislation through the Oireachtas in 2004 it was stated, on behalf of the Minister for Finance, that the Ombudsman's remit essentially is to...

Written Answers — Expenditure Reviews: Expenditure Reviews (24 Apr 2008)

Brian Cowen: In June 2006 the Government approved some 90 formal Value for Money Reviews to be carried out for the period 2006-2008. This programme of reviews focuses on significant areas of expenditure and major policy issues. To date 37 Reviews have been completed. Details of the reviews by Department including those completed and the original scheduled completion dates of remaining reviews are set...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I propose to answer Questions Nos. 33, 36 and 67 together. I want to assure the House that the Government's position on our corporate tax regime is unambiguous. Corporate taxation matters are and will remain within the competence of Member States. Our corporation tax system is protected, in an EU context, by the principle of unanimity in taxation matters. This principle is underpinned in the...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: In recent years, domestic demand was the main driver of growth, in part due to very high levels of residential construction. The high level of completions in this sector over the period was necessary in order to ensure more modest house price inflation by achieving a greater balance between housing demand and supply. I would also point out that higher levels of completions also resulted in...

Written Answers — Tax Yield: Tax Yield (24 Apr 2008)

Brian Cowen: Taxes were €35 million above target at the end of January, €552 million behind target in the month of February and €84 million behind target in the month of March. Overall tax receipts were around €600 million, or 5.1 per cent behind target in the first three months of 2008. Over half of this shortfall is due to the poor performance of Capital Gains Tax which reflects the more adverse...

Written Answers — Departmental Expenditure: Departmental Expenditure (24 Apr 2008)

Brian Cowen: As the Deputy is aware, there are two forms of accounting in the public service. The accounts of Government Departments and Offices are prepared on a cash basis while Local Authorities and Commercial State-Sponsored Bodies, for example, prepare their accounts on an accrual basis which includes the charging of depreciation. The Appropriation Accounts for central Government Departments and...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I am informed by the Revenue Commissioners that while there have been recent contacts between officials in the Revenue Commissioners and the US Treasury about updating the existing US-Ireland income tax treaty, no dates have been agreed for a meeting between officials. Given that no discussions have yet taken place, it is not possible to estimate any possible impact, positive or negative, at...

Written Answers — Home Repossessions: Home Repossessions (24 Apr 2008)

Brian Cowen: The Deputy will appreciate that reports relating to court proceedings for property repossessions need to be interpreted with caution, given the variety of circumstances that give rise to such cases and the fact that not all of the proceedings relate to residential property. It should also be noted that even where such orders are secured some are not enforced. The number of orders granted by...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 40, 81, 90, 91 and 107 together. The Irish financial system has been positively assessed by the Central Bank and Financial Services Authority of Ireland in its Financial Stability Report and more recently by the OECD. The OECD's Economic Survey of Ireland, 2008 points out that Irish banks entered the current period of international financial turmoil in a very...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: I have noted the findings of the ESRI in the Spring Quarterly Economic Commentary. In this Commentary, lower levels of new housing output and the deterioration in the international environment are the main factors weighing on growth this year. The market consensus is now for GDP growth of around 2.25 per cent for 2008. However, there is currently a wide range of forecasts for economic...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I am advised by the Revenue Commissioners that enquiries relating to non-residence are a feature of their risk-based audit programmes. The procedures adopted in relation to validating a claim to non-residence status depend on the circumstances in each case. The methods used to verify claims to non-residence include a range of tests, which may include the examination of ATM transactions and...

Written Answers — Services Sector: Services Sector (24 Apr 2008)

Brian Cowen: Available data on services are, by their very nature, somewhat limited. However, in relation to the available indicators these suggest more modest activity in the services sector this year. I would point out, however, that exports of services have been very strong in recent years, rising by over 14 per cent last year. Employment in tradeable services tends to be in the higher value-added,...

Written Answers — Health Service Staff: Health Service Staff (24 Apr 2008)

Brian Cowen: The post-Budget Estimates allocation (current and capital expenditure) for the Health Service Executive is over €14.9 billion, a 7% increase on 2007. The numbers employed (wholetime equivalents) in the health service increased last year by almost 4,300 to just over 111,500 at end 2007. My Department's 2008 sanction to the HSE to spend its post-Budget Estimates allocation for current...

Written Answers — Unemployment Levels: Unemployment Levels (24 Apr 2008)

Brian Cowen: On Budget day, my Department projected that unemployment, based on the classification used in the CSO Quarterly National Household Survey, would average 5.6 per cent for this year and that employment would rise by 1.1 per cent. These forecasts were, and remain, broadly in line with the market consensus. My Department, as always continues to monitor the emerging labour market position,...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: Revenue is not in a position to estimate the total number of Irish resident taxpayers in possession of foreign properties. As regards ensuring tax compliance by such persons I am advised by Revenue that one of the key objectives of their Offshore Assets Group is to identify Irish residents holding offshore properties in particular where these properties have been funded by undeclared profits...

Written Answers — Economic Competitiveness: Economic Competitiveness (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 49 and 99 together. My colleague the Minister for Enterprise Trade and Employment launched the Report of the High Level Group on Manufacturing earlier this month, on foot of a Towards 2016 agreement to review the challenges facing the manufacturing sector. The Group has highlighted a number of issues for the manufacturing sector in the areas of, among other...

Written Answers — Tax Collection: Tax Collection (24 Apr 2008)

Brian Cowen: With effect from 1 January 2002, credit unions were required to apply DIRT on certain deposits held by members. Where recipients are in receipt of income that attracts DIRT they have no further tax liabilities in relation to this income as the DIRT liability is the final tax liability. The issue of the correct operation of the DIRT provisions by credit unions is a risk factor which the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Apr 2008)

Brian Cowen: In the wake of dislocation in global financial markets from mid-2007 onwards, the Ecofin Council of 9 October 2007 requested the Commission and the EU Financial Services Committee (FSC) to consider possible enhancements of the EU Deposit Guarantee Scheme (DGS) and to report back to the Council by mid-2008. Since then, discussions on DGS have taken place in the FSC, the EU Economic and Finance...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: The European Commission's assessment, based on the update of Ireland's stability programme which was published with Budget 2008, represents a reasonable view of the Irish economy. While it refers to the challenges of a "transition to a period of lower economic growth, mainly linked to a return to more sustainable activity in the housing sector", it also acknowledges the overall strong...

Written Answers — Price Inflation: Price Inflation (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 53 and 74 together. Inflation, as measured by the average annual change in the Consumer Price Index (CPI), reached 5.0 per cent in the twelve months to March 2008. However, it is important that we acknowledge that the fact that price levels in Ireland are now on average 20 per cent above levels in other euro area countries is an indicator of the slippage in...