Results 11,641-11,660 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (11 Nov 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the information requested by the Deputy is as follows in respect of the income tax year 2009. 2009 Distribution of Income earners by Personal Status and Tax Rate Exempt(Standard rate liability fully covered by credits or Age Exemption Limits) Marginal Band Paying tax at the standard rate rate (including those whose liability at the higher rate...

Written Answers — Tax Code: Tax Code (11 Nov 2009)

Brian Lenihan Jnr: As Deputy is aware the Finance Act 2009 introduced legislative changes to the income levy to bring into effect an increase in rates and a reduction in rate thresholds from 1 May 2009. As a result of the legislative changes two sets of income levy rates and thresholds apply to different periods in 2009. In addition, the Finance Act 2009 introduced composite annualised rates to be applied for...

Written Answers — Tax Yield: Tax Yield (11 Nov 2009)

Brian Lenihan Jnr: The Supplementary Budget forecast that €12.5 billion in Income Tax receipts would be collected in 2009, of which approximately €1.1 billion would come from the Income Levy. At end-October, Income Tax was €625 million behind profile with overall tax receipts €1,074 million below target. My Department now expects that overall tax revenues will finish the year in the region of €2...

Written Answers — National Lottery Funding: National Lottery Funding (11 Nov 2009)

Brian Lenihan Jnr: The surplus generated by the National Lottery is surrendered to the Exchequer and is allocated to a number of Government Departments in the context of the annual Estimates process. The attached copies of Appendix 1 of the Revised Estimates for Public Services for each of the years 2006 to 2009 gives a breakdown by Department of subheads which were part funded by the surplus received from the...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: It is a matter of judgment. The review by the Comptroller and Auditor General will be carried out every three years. The ministerial review relates to the broader policy aspects of the legislation, the state of the property market and the evolution of the banking sector. These are wider matters and a longer period will be required for their consideration. That is why it was decided that...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: Is iontach an rud é, ach tá mé chun an leasú seo a ghlacadh. Chomh maith le Gaeilge an-mhaith, tá eolas an dlí go han-mhaith ag an Seanadóir, mar níl aon fhadhb ag an Ard-Aighne leis an fhoclaíocht sa leasú seo. Mar sin, glacaim leis an leasú. An deacracht atá ann ná caithfidh go mbeidh leagan oifigiúil amháin sa Teanga don Bhille ar fáil nuair a síneoidh an tUachtarán an...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: Rud eile, tá an raic seo an-chasta ar fad, mar is eól díobh go léir. Sin an fáth nach bhfuil an leagan Gaeilge le fáil anois. De ghnáth bíonn Rannóg an Aistriúchán ag obair ar an mBille roimh an tosnú agus bíonn an dá leagan réidh. Sa chás seo ní raibh fhéidir é sin a dhéanamh agus sin an fhadhb a bhí againn.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: I shall certainly draw Senator Twomey's observations to the attention of the incoming board. In fact, there is an amendment tabled to the Schedule, which will be addressed, I take it, when we discuss the Schedule, to ensure the capacity NAMA has to apply for or extend a planning permission will be harmonised with the proposal contained in legislation in connection with planning and...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: No, because generally such applications are not dealt with by way of rezoning.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: This is in Part 2 of Schedule 2, to insert "the Bank or" after "relating to". It is a technical amendment which clarifies the independence of the Governor of the Central Bank in the restricting of budgetary or funding or matters concerning the bank as well as the regulating authority. Its aim is to ensure the independence of the Governor is preserved in respect of his or her functions at a...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: This is the amendment to ensure the provision in this Act mirrors the equivalent provision in the Planning and Development (Amendment) Bill 2009 which is being revised. The Bill, as approved by the Dáil, permitted a period of extension of planning permission from five to seven years in exceptional circumstances. The amendment reduces the maximum period of extension to five years. This...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: It is true that one is empowered to apply and the decision is taken on a set of criteria different from the original planning application, and to that extent NAMA has an element of entitlement to obtain the permission but it is not unrestricted. My amendment is in the same sense as the Labour Party's amendment to harmonise with the new legislation. The authority must be satisfied: (I) there...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: This relates to the windfall tax. A total of six amendments has been proposed on the definition of rezoning. For a word that is used commonly in political discourse it is extraordinarily difficult to give it an exact legal definition. The amendments have been made to remove any possible doubt about what is encompassed by the definition of rezoning in the sections. The proposed changes in...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: I know there was considerable controversy within Dublin City Council on this subject and I do not want to enter into that controversy. I am not satisfied that institutional land use is a recognised legal land use category because the way land use is branded for legal categorical purposes is developed land, whether it is industrial, commercial, residential or for other uses such as...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: It is not a recognised legal category, as I understand it.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Brian Lenihan Jnr: As far as I understand, it can be done but I do not want to be authoritative about it. The Minister for the Environment, Heritage and Local Government could give a better explanation. Whether this could be done without triggering a claim for compensation against a local authority would be an issue.

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: The EUROSTAT position on the balance sheet treatment of NAMA and the SPV took account of the balance between State and private engagement in the proposed organisation structure. The proposed amendment could result in EUROSTAT changing its preliminary decision on the treatment of NAMA operations in the national accounts. The amendment also runs the risk of making the SPV so unattractive to...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: An interesting amendment. NAMA, like the National Treasury Management Agency annual report or any bank annual report, will publish the type of derivative, the nominal value of the derivative, the mark to market value of the derivative and all of those values as of the financial account reporting date. NAMA will also publish the maturity date of derivatives by calendar year, for example,...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: I am sorry.

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Brian Lenihan Jnr: Yes.