Results 10,261-10,280 of 16,537 for speaker:Brian Lenihan Jnr

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: I was advised that I have sufficient power through the scheme to extend my own powers. I will check it out but that is my position on this issue. On the fundamental issue of the scheme, it is very important and it will lay down the conditions under which the facility can be extended. I will certainly take into account in the formulation of the scheme the points that have been made in this...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: We did that.

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: We have done that already.

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: The parts of the Bacon report that could be published were published.

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: The matter of great magnitude to which Deputy Noonan refers is one section of the Bill and he has addressed his comments to that section. On the matter of Anglo Irish Bank, what we saw in the spring was a serious shortage of funds in the bank. Circumstances do not stand still in the case of any particular financial institution. It is now clear the decision to nationalise the bank, which...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: The directors appointed by me, as Minister for Finance, went into the bank and conducted a review and presented a true and fair view of the half-yearly return. We have had to act on that. We are not here to discuss that, but to discuss the section. Deputy Noonan said matters of great moment are being decided but the information was not being put before the House. The information is that...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: I can arrange for that information to be furnished to the Deputy, but the point I am making is that we are not unique. There is a constant suggestion that there is something unique in what is happening in Ireland regarding the banking crisis. There is not. Constant interventions by the Government and Parliament are required to protect the position. The amendments tabled this evening are...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: We can go into that. The Deputy should read carefully what the person who was asked to be the chief executive of this entity on an interim basis, Mr. McDonagh, said because he has been at the operational coalface. If one reads what he said, he clarified many of the issues. Dr. Somers has made his support for NAMA very clear and does not see any other way in which we can resolve our banking...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Brian Lenihan Jnr: I will answer the Deputy's question. We are seeking EU approval for this. If it is forthcoming in the next few weeks we will be in a position to bring the scheme to the House immediately. If there are further technical issues to be worked out, it will have to wait until later in the year. It is not related to NAMA. It is a separate item in the guarantee picture. Regarding the...

Written Answers — Tax Collection: Tax Collection (23 Jun 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the number of people who made a claim for a tax refund on becoming unemployed, and the average refund in the years 2007, 2008, and 2009 is as follows: It should be noted that more than one payment may be made to a single applicant for any given year. Year No. of Claims People Average Amount per person 2007 30,636 27,652 804.51 2008 52,321...

Written Answers — Tax Code: Tax Code (23 Jun 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 117 to 121, inclusive, together. I am informed by the Revenue Commissioners that the cost to the Exchequer of mortgage interest relief paid by way of tax relief at source (TRS) in each of the years 2004 to 2008 inclusive is as follows: Tax Year Cost [€m] 2004 230 2005 280 2006 350 2007 545 2008 705 At the end of 2008, there were...

Written Answers — Tax Code: Tax Code (23 Jun 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 122 to 124, inclusive, together. The position in relation to mortgage interest relief is as set out in my Supplementary Budget on 7 April 2009. The Government believes that in these times of scarce resources support should be targeted at those most in need. Accordingly, from 1 May 2009 mortgage interest relief has been limited to the first seven years of a...

Written Answers — Financial Services Regulation: Financial Services Regulation (23 Jun 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 125 and 126 together. I announced on 18 June that the Government had agreed a range of reforms of the structures for regulation of financial services in Ireland. The key change is the establishment of a single fully integrated regulatory institution, the Central Bank of Ireland Commission. The Central Bank Commission will be chaired by the Governor of the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (23 Jun 2009)

Brian Lenihan Jnr: The Irish Banking Federation Personal Voluntary Switching Code was introduced in 2005 on a voluntary basis. It is aimed at assisting customers in switching their personal current or savings account and making the process of switching as smooth and easy as possible. In March 2009, the Financial Regulator (FR) published the findings of its mystery shopping exercise, which examined the ease of...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (23 Jun 2009)

Brian Lenihan Jnr: While reimbursement of overcharging by financial institutions is primarily a matter for the institutions concerned, I understand from the Financial Regulator (FR) that the bulk of this has been reimbursed. My Department has been informed by the FR that the reimbursement process is proceeding in accordance with the FR's General Principles in relation to reimbursement as set out on page 50 of...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (23 Jun 2009)

Brian Lenihan Jnr: The Bank Guarantee Scheme is a major benefit not only to the covered institutions but also to their customers and the economy as a whole. As the Deputy is aware, the scheme includes the application of strict terms and conditions on the covered institutions to ensure that the public interest, which includes the taxpayer, the general consumer and small business sector, is paramount. My...

Written Answers — Registered Nursing Homes: Registered Nursing Homes (23 Jun 2009)

Brian Lenihan Jnr: I understand the Deputy is referring to the decision announced in the Supplementary Budget 2009 to terminate the property-related accelerated capital allowance schemes in the health sector, among which is a scheme for registered nursing homes. I should explain that the rationale behind the decision to terminate these schemes is to broaden the tax base so that, in conjunction with other...

Written Answers — Departmental Reports: Departmental Reports (23 Jun 2009)

Brian Lenihan Jnr: The report of the Commission on Taxation is due to be presented to the Government in July and will be published shortly thereafter.

Written Answers — Decentralisation Programme: Decentralisation Programme (23 Jun 2009)

Brian Lenihan Jnr: As I announced in my Budget Statement in October last, the Government has reviewed the decentralisation programme and has identified priority elements which should proceed at this time. Decisions on the timing of implementation of the balance of the programme are being deferred pending a review in 2011 in light of budgetary developments. The tables outline details of the number of posts to...

Written Answers — Public Service Staff: Public Service Staff (23 Jun 2009)

Brian Lenihan Jnr: The moratorium falls to be applied by the relevant line Minister in accordance with the circular letter of 27 March issued by my Department. While there is provision for very limited exceptions to be approved by me in particular cases, I have decided against such an exception in this case in the interests of the Exchequer.