Results 12,561-12,580 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — EU Funding: EU Funding (3 Feb 2010)

Brian Lenihan Jnr: As outlined in the replies referred to by the Deputy, the INTERREG IVA Programme 2007-13 aims to support strategic cross-border co-operation and economic development. The Programme is managed by the Special EU Programmes Body (SEUPB) and implementation is overseen by a Monitoring Committee which has representatives from the Irish and Northern Ireland accountable Departments, Local...

Written Answers — Public Service Contracts: Public Service Contracts (3 Feb 2010)

Brian Lenihan Jnr: The establishment of a list of competent firms interested in tendering for a particular project is an essential part of a prequalification procedure. For transparency purposes, it is a requirement that the number of firms being short listed should be stated in the contract notice published on eTenders or, in the case of projects above the EU threshold, in the Official Journal of the European...

Written Answers — Public Sector Pay: Public Sector Pay (3 Feb 2010)

Brian Lenihan Jnr: I have previously indicated my intention to carry out a review of the pay of the chief executives of the commercial semi-State companies and will be announcing proposals in this regard shortly.

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Feb 2010)

Brian Lenihan Jnr: NAMA has a commercial remit and generating a return for taxpayer's is a key objective. However, within this context NAMA could seek to facilitate public bodies seeking the creation of desirable developments that encourage vibrant sustainable communities. I have previously indicated that such bodies could be given first option on NAMA properties for a limited period. Where it can be shown that...

Written Answers — Insurance Industry: Insurance Industry (3 Feb 2010)

Brian Lenihan Jnr: The Financial Regulator does not maintain statistics on insurance premium costs, so I am not in a position to comment specifically upon the level of such increases in the past 12 months nor on the fluctuation in the past five years. However, as mentioned in previous PQs (45220/22 of 2009) the Financial Regulator has provided some background as to why insurance prices have increased in recent...

Written Answers — Flood Relief: Flood Relief (3 Feb 2010)

Brian Lenihan Jnr: I understand that the Department of Environment, Heritage and Local Government does not operate a home relocation scheme to assist households who wish to relocate in the aftermath of a flooding event. I have no plans to introduce such a grant. However, in recognition of the problems faced by people in many areas of the country due to the recent flooding, the Government allocated an initial...

Written Answers — Fiscal Policy: Fiscal Policy (3 Feb 2010)

Brian Lenihan Jnr: The Report of the Special Group on Public Service Numbers and Expenditure Programmes was published in July 2009 and outlined 271 recommendations with potential savings of up to €5.3 billion in a full year along with associated staffing reductions of over 17,300 in public service numbers. The Special Group's Report is advisory in nature. The Special Group's analysis and recommendations...

Written Answers — Flood Relief: Flood Relief (3 Feb 2010)

Brian Lenihan Jnr: My Department made an application to the EU Commission on 27th January 2010 for funding under the EU Solidarity Fund based on estimates of damage received from Departments and local authorities. A regional application was made as the estimate of the extent of the damage does not meet the Solidarity Fund's threshold of 0.6% of GNI or €935.5m for a national disaster. There are specific...

Written Answers — Tax Code: Tax Code (3 Feb 2010)

Brian Lenihan Jnr: Stamp duty net receipts for 2009 are in the region of €930 million. Of this amount, the yield from property is c. €329 million, of which residential property accounts for c. €150 million and non-residential property for c. €179 million. I have no immediate plans to change the stamp duty regime but it should be noted that no stamp duty is payable by first time purchasers of new or...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Feb 2010)

Brian Lenihan Jnr: The estimates I provided in September in relation to the prospective NAMA portfolio were based on aggregate information provided by the relevant financial institutions. At all times I stressed that information on the actual price to be paid for loans would only become clear following a loan by loan assessment once NAMA was established. Preparatory work on the transfer of assets is now under...

Written Answers — Tax Code: Tax Code (3 Feb 2010)

Brian Lenihan Jnr: I assume the Deputy is referring to the qualification criteria for the awarding of the artists exemption in respect of particular works that are considered to be original and creative. Section 195 of the Taxes Consolidation Act 1997 provides an exemption from tax for the profits or gains arising to a person from the publication, production or sale of an original and creative work which has...

Written Answers — Departmental Agencies: Departmental Agencies (3 Feb 2010)

Brian Lenihan Jnr: The proposed merger of the Competition Authority and the National Consumer Agency is a matter in the first instance for the Minister for Enterprise, Trade and Employment. However, as the Deputy may be aware, I intend to initiate legislation to reform the institutional structures for financial regulation early this year and, in this regard, I will bring proposals to Government shortly. Part...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Feb 2010)

Brian Lenihan Jnr: NAMA was established to purchase portfolios of impaired loan assets from relevant institutions. The draft NAMA business plan published in October set out a projected loan transfer schedule indicating how loans are expected to transfer to NAMA in tranches. The initial transfer of the first tranche of loans is now envisaged to commence in February, subject to EU approval. NAMA has confirmed...

Written Answers — Banking Sector: Banking Sector (3 Feb 2010)

Brian Lenihan Jnr: As the Deputy may be aware, on 30 November last Anglo Irish Bank submitted its restructuring plan to the European Commission. This was a condition for State aid approval of the bank's recapitalisation last year. In line with EU Commission guidelines, the restructuring plan considers all options for the future of the bank. The submission of the plan marked the beginning of a detailed and...

Written Answers — Banking Sector: Banking Sector (3 Feb 2010)

Brian Lenihan Jnr: As independent bodies, it is a matter in the first instance for the financial institutions themselves, subject to regulatory, competition and other relevant requirements, to discuss and agree their strategic arrangements. In that regard, there have been a number of recent developments. For example, Irish Life and Permanent has taken steps to form a new group holding company to allow it...

Written Answers — Tax Yield: Tax Yield (3 Feb 2010)

Brian Lenihan Jnr: I assume that the measure to which the Deputy refers is the domicile levy which I announced in budget 2010, full details of which will be announced in the Finance Bill on Thursday. The levy of €200,000 will apply to Irish nationals and domiciled individuals whose worldwide income exceeds €1 million and whose Irish-located property is worth greater than €5 million. I am informed by...

Written Answers — Banking Sector: Banking Sector (3 Feb 2010)

Brian Lenihan Jnr: Participation in Monetary Union led to a structural shift whereby interest rates in this economy which had been set by the Central Bank of Ireland were reduced to the lower levels pertaining in the euro area. While lower interest rates are clearly beneficial for an economy in the medium and longer term, clearly nominal interest rates over most of the last decade were lower than they would...

Written Answers — Price Inflation: Price Inflation (3 Feb 2010)

Brian Lenihan Jnr: Prices as measured by the consumer price Iidex (CPI) fell by 4.5% in 2009 compared with the previous year while the harmonised European measure (HICP) fell by 1.7% over the same period. ECB rates are now at historic lows and there is broad consensus that they will rise at some stage. When this happens there will be an impact on the CPI but not on the HICP as the latter excludes mortgage...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (3 Feb 2010)

Brian Lenihan Jnr: To date in 2010, no funds have been provided to Anglo Irish Bank. As the Deputy will be aware, €4 billion in capital was provided to Anglo in 2009, to protect the economy from the wider losses that would have occurred in the event of a failure of the bank, to protect the deposit base of the bank, and to prevent the bank becoming a systemic threat to the financial system. As I stated in my...

Written Answers — Capital Expenditure: Capital Expenditure (3 Feb 2010)

Brian Lenihan Jnr: The budget for 2010 gave details of capital expenditure allocations by Department for 2010. At 5% of gross national product, the 2010 allocation of €6.4 billion is proportionally very high in comparison to levels of capital investment across the EU. The budget also includes a commitment of Exchequer capital investment of over €39 billion for the period 2010-2016. A review of capital...