Results 14,141-14,160 of 16,537 for speaker:Brian Lenihan Jnr

Departmental Appointments (17 Jun 2010)

Brian Lenihan Jnr: Primary responsibility, according to all these gentlemen, rests with the banks.

Departmental Appointments (17 Jun 2010)

Brian Lenihan Jnr: Deputy Burton can decide, for her next sound-bite, to whom she wants to allocate that.

Departmental Appointments (17 Jun 2010)

Brian Lenihan Jnr: Within the banks, primary responsibility lies with management and with their boards. Professor Honohan goes on to say the regulatory and supervisory systems did not identify the risks within sufficient time. That is clearly painted in the report.

Departmental Appointments (17 Jun 2010)

Brian Lenihan Jnr: Clearly, the Government's more modest role has been acknowledged in the report.

Departmental Appointments (17 Jun 2010)

Brian Lenihan Jnr: It was the bronze medal yesterday and it remains that.

Tax Returns (17 Jun 2010)

Brian Lenihan Jnr: At the end of May, €12.1 billion in tax revenue receipts had been collected. As Deputy Lynch points out in her question, this is a drop of approximately €1.4 billion on the amount collected in the first five months of 2009, which represents a year-on-year decline of 10.4 per cent. However, the monthly profiles for tax revenue published in early February, anticipated a significant...

Tax Returns (17 Jun 2010)

Brian Lenihan Jnr: Of course I am concerned. I have been concerned for a considerable period about the structural loss in our tax base occasioned by the property bust. The effect of it has been a substantial depletion in the amount the State received in capital gains tax and stamp duty receipts. I agree that has been a very serious problem. Any Government would be concerned about it, naturally. That is why...

Tax Returns (17 Jun 2010)

Brian Lenihan Jnr: The interest costs arise from Exchequer borrowing, which is arranged by the NTMA. I can arrange for the NTMA to make an estimate. That estimate would be subject to revision at the end of the year. That is normally done before the budget. A final definitive figure-----

Tax Returns (17 Jun 2010)

Brian Lenihan Jnr: That has a very limited impact this year. The figure for this year will be drawn up by the NTMA towards the close of the year. On the separate question of bank capitalisation, I will arrange for Deputy Burton to be given the information she has sought on the institutions as a whole. The State now owns a controlling share in the EBS. The Oireachtas committee may well wish to make...

Tax Returns (17 Jun 2010)

Brian Lenihan Jnr: This does not rest on hope. It rests on a considerable amount of archaeology which has already been carried out.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Jun 2010)

Brian Lenihan Jnr: The Covered Institutions Remuneration Oversight Committee (CIROC), which was set up under the terms of the Credit Institutions (Financial Support) Scheme, reported to me on 27 February 2009. Its remit was to oversee all remuneration plans of senior executives of the covered institutions. For this purpose, remuneration included total salary, bonuses, pension payments and any other benefits...

Written Answers — Legislative Programme: Legislative Programme (17 Jun 2010)

Brian Lenihan Jnr: In my dealing with the banks I have clearly maintained the principle that the banks will contribute to the cost of State's support – the banks have been charged for the Government's guarantee of their liabilities and the NAMA Act provides for a levy on the banks should NAMA result in a loss for the taxpayer. In the context of the enhancement of supervision and the restructuring of the...

Written Answers — Economic Policy: Economic Policy (17 Jun 2010)

Brian Lenihan Jnr: Given the scale of our economic and financial difficulties, debate on the economy and the financial system has naturally dominated proceedings in the Dáil over the past two years. This week alone, the debate on the confidence motion was essentially a debate on the Government's economic policy. The arrangement of a debate such as the Deputy suggests in his question is a matter for the party...

Written Answers — National Assets Management Agency: National Assets Management Agency (17 Jun 2010)

Brian Lenihan Jnr: The Board of NAMA has committed to the production of an updated business plan which it will submit to me by 30 June 2010 and which is expected to be published shortly thereafter. The business plan is a matter for the Board. However, the CEO of NAMA has advised me that the Board when reviewing the business plan will take account of the actual data now available to it arising from the transfer...

Written Answers — Public Service Agreement: Public Service Agreement (17 Jun 2010)

Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest Acts, 2009 under which the pension related deduction and pay reductions were applied to public servants make provision for a review of the operation, effectiveness and impact of both Acts before 30 June 2011. In addition to the criteria set out in the Acts, the Public Service Agreement, which has now been ratified by the Public Service...

Written Answers — National Assets Management Agency: National Assets Management Agency (17 Jun 2010)

Brian Lenihan Jnr: The Board of NAMA has committed to the production of an updated business plan which it will submit to me by 30 June 2010 and which is expected to be published shortly thereafter. The business plan is a matter for the Board. However, the CEO of NAMA has advised me that the Board when reviewing the business plan will take account of the actual data now available to it arising from the transfer...

Written Answers — National Assets Management Agency: National Assets Management Agency (17 Jun 2010)

Brian Lenihan Jnr: The transfer of the first tranche of loans, totalling €15.3 billion in loan balances, from the five participating institutions concluded on 31 May 2010. NAMA issued bonds to a value of €7.7 billion to the institutions, of which 5% are subordinated securities. The senior bonds mature in March 2011 and are extendible at the option of NAMA. They are Government-guaranteed Floating Rate Notes...

Written Answers — Financial Services Regulation: Financial Services Regulation (17 Jun 2010)

Brian Lenihan Jnr: As I stated in answer to Question No. 76 of 28 April 2010, policy matters relating to the regulation of auditing and accounting bodies are the responsibility of my colleague, the Minister for Enterprise, Trade and Innovation. The Deputy may wish to note that both of the preliminary reports into Ireland's banking crisis published last week - The Irish banking crisis: regulatory and financial...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Jun 2010)

Brian Lenihan Jnr: The only recapitalised banks which are significant lenders to the SME sector are AIB and Bank of Ireland. In relation to the credit package agreed in the recapitalisation of February 2009, both my officials and the Financial Regulator receive quarterly progress reports in relation to the lending commitments made. The performance of the banks in this regard was published in the NAMA...

Written Answers — Stability and Growth Pact: Stability and Growth Pact (17 Jun 2010)

Brian Lenihan Jnr: The Irish public finances, in particular tax receipts, have been very severely impacted by the sharp deterioration in our economy. Tax revenue in 2010 is expected to be in the region of €31 billion, a decline of nearly 35 per cent on the level of taxes received in 2007. The Government recognised early on that the gap that had emerged between revenues and expenditure was not sustainable. A...