Results 9,101-9,120 of 16,537 for speaker:Brian Lenihan Jnr

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: Is there an amendment before the House?

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: Deputy O'Donnell raised the question of the machinery for approval of the regulations. There is provision in this section that every regulation made under subsection (2) shall be laid before each House of the Oireachtas as soon as may be after it is made. There is the option before the House to annul the regulations. That is a power given to the Oireachtas and therefore it is not correct...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: I appreciate that but I am not in a position to advise Deputy Rabbitte of my position on this issue today. I will communicate with the Deputy but am not in a position to give a finalised fiscal assessment on the issue to him today.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: That is always one of the great difficulties with all economic advice — it tends not to come from disinterested parties. A number of financial instruments are available which can be used to acquire these positions in the shares of publicly listed companies without acquiring direct control of them. Clearly these instruments are used increasingly by investors to avoid disclosure of their...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: I move amendment No. 7: In page 11, after line 29, to insert the following subsection: "(2) This Act (other than paragraphs (d) and (e) of section 3) shall come into operation on such day or days as the Minister may, by order or orders, appoint either generally or with reference to any particular purpose or provision, and different days may be so appointed for different purposes or different...

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: We spoke about this on Committee Stage.

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: Is the amendment being moved?

Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee and Remaining Stages (4 Mar 2009)

Brian Lenihan Jnr: At this late stage, the best course for me would be to undertake to the House that subject to any requirements of confidentiality, I will inform the House in advance of any such investment but I cannot absolutely guarantee it in the circumstances. I take the point made by Deputy Bruton that a particular share sale might not have any particular share sensitivity but the size of the pension...

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield and cost to the Exchequer, estimated by reference to 2009 incomes, of changing the standard rate of tax by one percentage point would be of the order of €560 million. This figure is provisional and subject to revision.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield and cost to the Exchequer, estimated by reference to 2009 incomes, of changing the higher rate of tax by one percentage point would be of the order of €220 million. This figure is provisional and subject to revision.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I assume that the change mentioned by the Deputy is to apply in similar measures to single and widowed persons and lone parents. Double this amount is assumed to apply to married couples. On this basis, I am informed by the Revenue Commissioners that the full year yield and cost to the Exchequer, estimated by reference to 2009 incomes, of changing the standard rate band by €100 would be of...

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated full year cost/yield to the Exchequer of a reduction/increase in the 21.5% standard rate of VAT by 1 percentage point is €390 million. The estimates provided are based on current expectations of VAT yield in 2009.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated full year cost/yield to the Exchequer of a reduction/increase in the 13.5% reduced rate of VAT by 1 percentage point is €300 million. The estimates provided are based on current expectations of VAT yield in 2009.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: It is assumed that the Deputy is referring to a €1 (VAT inclusive) price increase on a 20 packet of cigarettes. I am informed by The Revenue Commissioners that the revenue that would be gained in a full year by this increase and corresponding increases in other tobacco products is estimated to be €182 million.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information available in respect of the yield from inheritance tax is as follows: Year Inheritance Tax â'¬m 2004 171.3 2005 196.7 2006 299.4 2007 314.5 2008* 291.8 *The figure for 2008 is provisional and subject to revision.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the full year gain or loss to the Exchequer, estimated by reference to the expected 2009 outturn, of a 1% change in the rate of capital gains tax (CGT) is estimated to be in the range of €35 million to €39 million. CGT is very dependent on individual behaviour and a change in rate may not produce a corresponding increase or decrease in tax...

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the full year yield or loss to the Exchequer, estimated by reference to expected 2009 outturn, of a 1% change in the rate of inheritance tax, is estimated to be in the region of €11 million.

Written Answers — Tax Yield: Tax Yield (4 Mar 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the full year gain to the Exchequer of a 10% and 20% reduction in the inheritance thresholds is estimated to be in the order of €19 million and €37 million respectively. These estimates are based on transactions recorded in 2008.

Written Answers — Decentralisation Programme: Decentralisation Programme (4 Mar 2009)

Brian Lenihan Jnr: As I announced in my Budget statement, the Government has reviewed the decentralisation programme and has identified priority elements which should proceed at this time. In prioritising the projects which are going ahead, the Government has taken account of the human resource aspects of the programme, commitments already made, the costs involved and the business readiness of organisations to...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (4 Mar 2009)

Brian Lenihan Jnr: Anglo Irish Bank was taken into public ownership on the 21 January 2009. At that time the board of the bank was reconstituted under the chairmanship of Mr Donal O'Connor. The bank continues to trade as a commercial entity and the board and management of the bank continues to manage the bank on and independent and commercial basis, at arms length from Government. The Board of the bank is...