Results 11,441-11,460 of 16,537 for speaker:Brian Lenihan Jnr
- Written Answers — Public Sector Pay: Public Sector Pay (4 Nov 2009)
Brian Lenihan Jnr: It is estimated that a 5% reduction on all incomes from â¬35,000 to â¬100,000, a 10% reduction on all incomes from â¬100,000 to â¬200,000 and a 20% reduction on all incomes greater than â¬200,000 if introduced would save a total of around â¬750m. Of this amount, around 75% would be accounted for by the reduction on incomes from â¬35,000 to â¬100,000.
- Written Answers — Tax Code: Tax Code (4 Nov 2009)
Brian Lenihan Jnr: There is no provision whereby a homeowner could offset the â¬200 local authority charge in respect of non principal private residences. Nor is the â¬200 charge a deductible expense in respect of rental income where such properties are let.
- Written Answers — Tax Code: Tax Code (4 Nov 2009)
Brian Lenihan Jnr: I am advised by the Revenue Commissioners that Section 611 of the Taxes Consolidation Act (TCA) 1997 provides relief from Capital Gains Tax (CGT) involving the donation of an asset by a taxpayer to a charity. The donation must be a bone fide donation and not a commercial transaction at arm's length. In such circumstances, the transaction is treated as giving rise to neither a gain nor a loss...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: That does not arise from this amendment.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Clause (b) has been excised.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: No, there is an amendment on Report Stage excising it.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: It is in the Bill subject to Report Stage.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: We did not formally excise it.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: There is a later amendment to deal with that.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: My amendment seeks to include the phrase "to contribute to the social and economic development of the State" in this section. That formula is identical to the other amendments, apart from the issue of sustainable which I will return to in a moment. On the merit of the amendment, I agree with Deputy Rabbitte that it is essential that this should be in the purpose of the section. It is worth...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Generally a local authority should take such an estate in charge.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: We had spectacular examples of this in the 1970s and 1980s but nowadays there is a bonding system in operation-----
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: -----where there is an insurance bond, which the developer normally must have entered with the local authorities, as an aspect of good local authority practice. If it is a dereliction on the part of the local authorities, that is a serious matter. From my experience, local authorities have these bonds, which are issued by insurance companies and which assure the completion of these developments.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Local authorities have legal, statutory obligations. If there is dereliction on the part of local authorities, the local members will have to hold the officials in those authorities to account for their dereliction of duty. NAMA cannot be used in terms of its commercial mandate to act as a substitute for derelict behaviour on the part of local government.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: There will be a need for them. I accept that. The Deputy has instanced one difficult area in a conventional type of development, but if a management company will be in place-----
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: -----and NAMA will take the position of a management company, the position will be even more difficult.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Yes, we have. Legislation is being introduced but it needs to be expedited. Deputy Higgins referred to sections 13 and 14. The compelling need that is now inserted in the legislation is supported by the powers of direction and guidelines in sections 13 and 14. The Deputy postulated this conflict between the economic and the social. NAMA clearly has to operate within a commercial mandate,...
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: Yes.
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: My amendment provides that it is "the social and economic development of the State".
- National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)
Brian Lenihan Jnr: I move amendment No. 6: In page 17, line 14, to delete "and".