Results 9,781-9,800 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (12 May 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to a single individual earning €80,000 per annum or more. The position is that a single individual earning between €80,000 and €174,979 will have a marginal tax rate of 50% for 2009. This is a combination of income tax at 41%, income levy at 4% and health levy at 5%. In addition, an individual earning €174,980 or more will have a marginal tax rate...

Written Answers — Economic Competitiveness: Economic Competitiveness (12 May 2009)

Brian Lenihan Jnr: For the purposes of EU Structural and Cohesion Funds, Ireland is designated into two NUTS (Nomenclature of Territorial Units for Statistics) II regions, namely the Border, Midland and Western (BMW) Region and the Southern and Eastern (S&E) Region. Under the EU Regulations, regions are classified for financial support based on economic characteristics, e.g population, regional prosperity,...

Written Answers — National Lottery Funding: National Lottery Funding (12 May 2009)

Brian Lenihan Jnr: All of the funding accruing to the Exchequer from the National Lottery is directed to the areas intended by legislation or later specified by Government in accordance with the National Lottery Act 1986. These areas are as follows: sport and other recreation; national culture (including the Irish language); the arts (within the meaning of the Arts Act, 1951); health of the community; and for...

Written Answers — Financial Services Sector: Financial Services Sector (12 May 2009)

Brian Lenihan Jnr: Participating institutions in the State recapitalisation package have committed to increase lending capacity to small and medium enterprises (SMEs) by 10% and to provide an additional 30% capacity for lending to first time buyers in 2009. If the mortgage lending is not taken up, then the extra capacity will be available to SMEs. AIB and Bank of Ireland have also committed to public campaigns...

Written Answers — Capital Investment Programme: Capital Investment Programme (12 May 2009)

Brian Lenihan Jnr: My officials have actively engaged with representatives of the pensions industry and other interested parties to discuss alternative funding proposals. These discussions have focused on both the possible sources of additional funding and on what steps would be required to access such funding. A number of meetings have taken place, and further meetings will be arranged as appropriate. I...

Written Answers — Financial Services Regulation: Financial Services Regulation (12 May 2009)

Brian Lenihan Jnr: As the Deputy will be aware mortgage borrowers with variable rate mortgages have benefited from very significant reductions in mortgage interest rates over recent months in line with the very substantial reductions in ECB interest rates. In respect of the covered institutions my Department has been informed by the Financial Regulator that all of the covered institutions have fully passed on...

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: It is my stated intention that enabling legislation for the establishment of NAMA will be introduced during the summer Dáil session. As is the case with all legislation, the Dáil will have the opportunity to debate the Bill when it is brought before the House. I have established a steering group comprising representatives of my Department, the Office of the Attorney General and the NTMA...

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: This is not a matter of one approach pioneered by one group. This was a very detailed exercise carried out within the NTMA, which advises the State on financial matters, building on its expertise and the analysis of the banks' loan books, which has been demonstrated since last September. The Government examined matters carefully. The Government and I agree with Deputy Bruton to the extent...

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: I have discussed approaches taken in the French Republic with individuals who administered them, and what we propose is in line with what was proposed there.

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: The Government will act on legal challenges on sound legal advice provided by the Attorney General and will ensure anything proposed is in accordance with the Constitution and law. It is incorrect to suggest that non-performing loans outside the land and development books will be taken over, other than non-performing loans associated with persons who are non-performing in the land and...

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: Because clearly, if they are non-performing in the land and development category they are seriously exposed and it would be irrational not to include the totality of their exposures.

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: Because the degree of impairment to our banks is greatest in the land and development book. That is why that section of the banks' exposures is being systematically tackled.

National Assets Management Agency. (13 May 2009)

Brian Lenihan Jnr: The crucial point about all these figures is book value and that brings us back to the crucial question of valuations.

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: In the recent budget, my Department projected that GNP would contract by 8% this year and by 2.8% next year. Combined with the 3.1% contraction which was recorded last year, this implies a cumulative decline in national income of almost 13.5% over the 2008-10 period. In other words, over the period there is virtually no difference between my Department's assessment of aggregate national...

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: First, the European Commission forecasts were issued on 4 May and predict GDP to contract by 9% in 2009. Concerning its forecasts on the size of the deficit, the Commission warmly welcomed the recent budget introduced here and was very supportive of it. Both the Commission and the chairman of the Finance Ministers at Eurogroup have praised the approach taken by this country with regard to...

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: Far from it. First, with regard to the pain I acknowledged to have been taken in this country, I was certainly not boasting about it. I was pointing out-----

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: That is not what the people in Killarney thought.

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: That is the construction the Deputy wishes to place on what I said. A large number of delegates came over to me, thanked me and said, "Thank God, there is hope for this country". We must face facts here. A huge burden of adjustment must take place in order that our economy may become competitive. What is exciting the admiration of other European countries is the fact that we are prepared...

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: I understand it is a substantial sum.

Unemployment Levels. (13 May 2009)

Brian Lenihan Jnr: It is in excess of that. This is the sum-----