Results 8,621-8,640 of 19,445 for speaker:Brian Cowen

Written Answers — Off-Licence Fees: Off-Licence Fees (24 Apr 2008)

Brian Cowen: In the Finance Act 2008 I increased from €250 to €300 the duty payable in respect of an off-licence for the retail sale of alcohol. In the normal course, many off-licence premises have three separate licences for the sale of alcohol, covering spirits, beer and wine, which, between them, allow the sale of all kinds of alcohol. The effect of the increase is, therefore, to increase the...

Written Answers — Public Sector Reform: Public Sector Reform (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 56 and 58 together. Last year the Government asked the OECD to carry out a review of the Irish Public Service. The OECD was given two tasks: to benchmark the Public Service in Ireland against other comparable countries, including identification of appropriate measures to compare the productivity and effectiveness of the Irish system, or discrete elements of...

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

Brian Cowen: The commencement of Section 110 of the Finance Act 2007 is kept under constant review and any further consideration has to take into account the prevailing circumstances in the housing and property markets. The Deputy's question presumably arises as a result of a recent newspaper headline stating "Department of Finance wanted stamp duty report put on hold". The document giving rise to this...

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

Brian Cowen: The Deputy will be aware that the Programme for Government does not include provision for the introduction of such a tax and there are no plans, at this stage, to introduce a tax of this type.

Written Answers — Social Insurance: Social Insurance (24 Apr 2008)

Brian Cowen: The provisional annual surplus of the Social Insurance Fund in 2007 was €581.7 million and the provisional accumulated surplus of the Fund at the end of 2007 was €3,630.8 million. The annual surplus of the Fund in 2008 is estimated to be €548.1 million and the accumulated surplus at the end of 2008 is estimated to be €4,178.9 million. The investment of the accumulated surplus of...

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

Brian Cowen: As I have indicated in response to earlier Parliamentary Questions on the fiscal and economic situation, the fiscal position at end-March was some €600 million behind where we had expected. Furthermore, I have indicated that at this stage it is not expected that this tax shortfall, particularly in CGT, will be recouped later in the year. In terms of new house completions, the indications...

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

Brian Cowen: In general terms, the OECD has long considered that the encouragement of home ownership diverts capital away from more productive uses within the economy. Bearing this is in mind, the main thrust of the OECD's survey on Ireland in relation to housing was that we should gradually reduce the bias towards home ownership in the tax system by either starting to phase out mortgage interest tax...

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

Brian Cowen: I am advised by the Revenue Commissioners that they have no solid basis on which to estimate the numbers entitled to refunds of DIRT in excess of those who annually seek and are granted tax refunds. A refund of deposit interest retention tax is provided for in very limited circumstances only, namely, an individual who is not liable or fully liable to income tax and is over 65 years of age at...

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

Brian Cowen: I propose to take Questions Nos. 64 and 78 together. Inflation, as measured by the Consumer Price Index (CPI), increased by an average 4.9 per cent in 2007, and has risen by 5.0 per cent in the twelve months to March 2008. Of the 4.9 per cent figure in 2007, 2.2 per cent was contributed by increased mortgage interest repayments. Including the impact of mortgage rate increases in the CPI not...

Written Answers — Pension Provisions: Pension Provisions (24 Apr 2008)

Brian Cowen: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 with the objective of meeting as much as possible of the cost to the Exchequer of Social Welfare pensions and Public Service pensions to be paid from the year 2025 until at least 2055. For this purpose, the National Pensions Reserve Fund Act 2000 provides that 1% of GNP is to be paid from the Exchequer into the Fund...

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

Brian Cowen: The position is that in matters relating to the VAT rating of goods and services, I am constrained by the requirements of EU VAT law with which Irish VAT law must comply. In relation to the VAT rate that applies to defibrillators, the position is that under the VAT Directive, Member States may retain the zero rates on goods and services which were in place on 1 January 1991, but cannot...

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

Brian Cowen: In my response of 4 March 2008 to the question raised by Deputy Burton (No. 207) I advised that the Revenue Commissioners had sought to establish from the German Tax authorities if any Irish residents appeared on the list held by them. They subsequently indicated that a response would be provided. This is still awaited. As the Deputy is aware the Revenue Commissioners are precluded from...

Written Answers — Off-Course Betting: Off-Course Betting (24 Apr 2008)

Brian Cowen: Off-course betting in all sports is already subject to regulation in the form of the Betting Act, 1931. There are, at present, no plans to provide for further regulation of off-course betting.

Written Answers — Ministerial Salaries: Ministerial Salaries (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 71 and 102 together. Increases for office holders and a number of other groups were recommended in Report No. 42 of the Review Body on Higher Remuneration in the Public Sector. The Review body is an independent standing body whose primary function is to advise the Government on the general levels of remuneration appropriate to higher public servants. As well...

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

Brian Cowen: The Deputy will be aware that the Programme for Government does not include provision for the introduction of such a charge and there are no plans, at this stage, to introduce a tax of this type.

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

Brian Cowen: I should first explain that policy responsibility for market abuse legislation is a matter for my colleague, the Minister for Enterprise, Trade and Employment. The legislative framework relevant to market abuse issues is S.I. No. 392 of 2005, the Market Abuse (Directive 2003/6/EC) Regulations, 2005. Responsibility for the administration of that legislation is a matter for the Central Bank...

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

Brian Cowen: The Irish banks' liquidity arrangements are sound and the Governor of the Central Bank and Financial Service Authority of Ireland has recently stated his view that the sector is comfortably meeting the more stringent prudential liquidity requirements introduced by the Financial Regulator before the recent market disruption commenced. This view is echoed in the recent report of the OECD,...

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

Brian Cowen: On Budget day, GDP was forecast to rise by 3.0 per cent this year, with GNP forecast to rise by 2.8 per cent. The Budget day forecasts have not changed. At the time, the median forecast for 2008 among economic commentators was for GDP growth of 3.25 per cent. In other words, my Department's forecasts were marginally below the market consensus. In terms of next year, GDP was forecast to...

Written Answers — Company Closures: Company Closures (24 Apr 2008)

Brian Cowen: The economic environment for business is more challenging as we move into the early months of 2008. The reported Exchequer Statement at the end of the first quarter showed Corporation Tax receipts were marginally behind profile at that stage. However, as the bulk of Corporation Tax is collected towards the end of the year it is too early to predict the full year performance at this juncture....

Written Answers — Pension Provisions: Pension Provisions (24 Apr 2008)

Brian Cowen: Under the National Pensions Reserve Fund Act 2000, the National Pensions Reserve Fund Commission controls and is responsible for the investment of the National Pensions Reserve Fund (NPRF). The National Pensions Reserve Fund Commission joined a group of the world's largest institutional investment funds in signing the UN-sponsored Principles for Responsible Investment when they were launched...