Results 9,601-9,620 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Apr 2009)

Brian Lenihan Jnr: The bank to which the Deputy refers is covered under the Government's guarantee Scheme. This has led to increased scrutiny and oversight of the operations of the institution and to increased engagement with its management including with regard to the institution's capital position. As the Deputy will be aware, the Government announced on 7 April 2009 its intention to establish a National...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (22 Apr 2009)

Brian Lenihan Jnr: I would like to draw to the Deputy's attention that it is open to credit unions to invest in government bonds, which are issued by the National Treasury Management Agency. Government bonds are fixed-term, fixed-rate investment instruments which are part of the National Debt.

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Apr 2009)

Brian Lenihan Jnr: Any person who carries on the business of money transmission is subject to the money laundering provisions of the Criminal Justice Act 1994 and accordingly is required to identify their customers, keep records, train staff and report suspicious transactions to the Garda Síochána and to the Revenue Commissioners. Money transmitters are also subject to EU Regulation 1781/2006 which requires...

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: The Minister for Communications, Energy and Natural Resources has primary responsibility for matters relating to RTÉ, including its pension schemes. However I have a role because of my responsibility for public service pension policy and for public service expenditure generally. Under the terms of the Broadcasting Authority Act 1960 (as amended) RTÉ pension schemes and arrangements are...

Written Answers — Pension Provisions: Pension Provisions (22 Apr 2009)

Brian Lenihan Jnr: I can inform the Deputy that I have now written to him about this matter. The new public service pension-related deduction was introduced earlier this year. As you know, this was done by the Financial Emergency Measures in the Public Interest Act 2009 which was signed into law on 27 February 2009. The recent Supplementary Budget changed the pension-related deduction to ameliorate its...

Written Answers — Financial Services Regulation: Financial Services Regulation (22 Apr 2009)

Brian Lenihan Jnr: The Deputy's question refers to the redemption fee applied by mortgage providers in circumstances that a customer seeks to break a fixed rate mortgage. Mortgage lenders in Ireland generally seek to recover costs of funds when a borrower with a fixed rate mortgage agreement seeks to terminate the agreement some time before the term agreed. Traditionally redemption fees were articulated with...

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: The position is that mortgage interest tax relief, through the tax relief at source system, would be granted at the appropriate rate of relief for a period of 7 years where, in the circumstances outlined, a new loan is taken out on a newly purchased home. In the circumstances described, the person would now be classified as a non first time buyer and therefore would qualify for relief at a...

Written Answers — Tax Code: Tax Code (22 Apr 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to my budget speech on 7th April where I outlined the Government's decision in relation to Mortgage Interest Relief for principal private residences. While this relief has not been abolished, with effect from 1st May 2009, its availability will be restricted to the first seven years of any qualifying loan. I also stated that, as house prices fall, the...

Circulation of Revised Estimates 2009: Motion (23 Apr 2009)

Brian Lenihan Jnr: I move: That, notwithstanding Standing Order 154(1) or (2) of the Standing Orders of Dáil Éireann relative to Public Business, Revised Estimates for the Public Services for the year ending 31st December, 2009, be presented to the Dáil and circulated to members on 23rd April, 2009, being a date later than that prescribed for the presentation of Estimates and that the Revised Estimates be...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: I propose to share time with Deputies Thomas Byrne, Cyprian Brady and O'Rourke. First, I am pleased to intervene in this debate because the decision taken in this matter was a decision of the Government. To put this matter in context, one should consider what has happened in recent years in the Estimates, in which provision has been made for a 70% Christmas bonus. While it is true that in...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: Prior to the budget, I furnished the finance spokespersons of the Opposition parties with a great deal of information on the precise position of expenditures and revenues in the State and they are well aware of the position. I believe that while the Opposition considers it to be its duty to hold the Government to account and while its spokespersons put forward certain proposals before the...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: One often hears that the money from the Celtic tiger was wasted. However, I wish to put on the record of the House a few essential facts. In the past decade, the Government has been able to provide highly significant increases in welfare payments. For example, the payment of child benefit has increased from less than €44 to €166 per month. The State contributory pension has risen from...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: These payments compare very well internationally and in particular with payments in Britain and Northern Ireland. Listening to Opposition Members in this House, I often believe they are living in a financial bubble of their own because one continually hears that the Celtic tiger benefitted bankers and developers.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: These are the precise figures regarding the increases that were made in the past decade for the most vulnerable and most dependent in our society.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: It is important to record that those substantial increases were made. Moreover, it is important to note that while Deputy Crawford represents a Border constituency, most Irish people have frequent exchange and intercourse with our neighbours in Northern Ireland and the United Kingdom.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: They are well aware that the welfare payments-----

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: The welfare payments provided by the Deputy's comrades in the Labour Party in the United Kingdom are but a fraction of what is provided in this jurisdiction. These are the realities and the sooner that all Members begin to reflect on them and to work out how to deal with them for the future, the better for this country and our children because we cannot continue-----

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: I agree with Deputy Crawford and we must attend to the health service. While it is not the subject of this debate, I agree with him.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: Again, very difficult decisions also will be required to get that balance right. All Members know the type of decision that must be taken in that regard but that debate will take place in this House another time.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: The Government considered carefully how savings could be made in the welfare area. In the budget last October, it increased payments by approximately 3%. That increase was given and decided upon by the Government on the basis of a forecast that suggested there would be inflation this year of that order. That was only last October. As I noted recently in this House, the science of economic...