Results 14,761-14,780 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Capital Expenditure: Capital Expenditure (30 Sep 2010)

Brian Lenihan Jnr: While the rate of capital spending is a matter for individual Ministers, I am informed that the underspend so far is due essentially to timing issues and better value for money from lower prices. There is no deliberate policy of delaying of spending to minimise the year end Exchequer deficit.

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Brian Lenihan Jnr: As the Deputy will be aware I have instructed Anglo Irish Bank to prepare, in conjunction with the NTMA, the Central Bank/Financial Regulator and my Department, a detailed plan to reflect the restructuring approach decided by Government. Work is continuing on this plan which will address in detail the respective roles and operations of the Asset Recovery Bank and the Funding bank. When this...

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Sep 2010)

Brian Lenihan Jnr: Section 73 of the NAMA Act provides that NAMA may set a date by reference to which the market value of a bank asset or property is to be determined. The NAMA Board set this date as 30 November 2009. It follows that any property price changes after 30 November 2009 will not be reflected in the NAMA market valuations. Commercial property price indices suggest that prices in Ireland may have...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (30 Sep 2010)

Brian Lenihan Jnr: On 30 March this year, in the context of the capital requirements imposed on the banks by the Financial Regulator and the transfer of eligible loans to NAMA at a discount, I made it clear that, insofar as any capital requirements could not be sourced privately, the Government would make up the shortfall. In my comprehensive banking statement earlier today, I set out with clarity and...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (30 Sep 2010)

Brian Lenihan Jnr: I assume the Deputy is referring to the responses of the financial institutions to commitments in relation to small and medium enterprises (SME) lending following recapitalisation. The only recapitalised banks which are significant lenders to the SME sector are AIB and Bank of Ireland. As you are aware, on foot of the bank recapitalisations previously announced, I imposed specific lending...

Written Answers — Credit Availability: Credit Availability (30 Sep 2010)

Brian Lenihan Jnr: Both myself and my officials are in regular contact with the recapitalised banks on lending to the SME sector. Both Mr. John Trethowan and my Department receive monthly progress reports from the two banks which allow us to ensure they deliver on the strong commitments given in their €3bn lending plans to support viable businesses in all sectors of the economy and in every area of the...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (30 Sep 2010)

Brian Lenihan Jnr: A total of €22.9 billion has already been provided by the State to support Anglo Irish Bank since the bank was nationalised early in 2009. The additional €6.4 billion announced earlier today brings the projected total cost of the restructuring of Anglo Irish Bank to €29.3bn in the base case scenario that I announced today. In the case of Irish Nationwide Building Society, the National...

Written Answers — Data Protection Act: Data Protection Act (30 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that all processing of personal information by Revenue is carried out in accordance with Data Protection legislation. A general principle of Irish Data Protection law is that a data controller needs the consent of the data subject in order to disclose personal information to a third party. Furthermore taxpayer information can be extremely sensitive,...

Written Answers — Tax Collection: Tax Collection (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 125 and 126 together. I am advised by the Revenue Commissioners that data is not separately maintained on the enforcement action taken by them against small businesses. However, I am informed that a total of 22,668 certificates in respect of €385m. in unpaid tax liabilities were issued by Revenue to the Sheriffs in the period from 1 January to 31 August 2010...

Written Answers — Credit Availability: Credit Availability (30 Sep 2010)

Brian Lenihan Jnr: The withdrawal of any bank from the Irish market is a matter of regret because it reduces the level of competition between banks and causes disruption for the customers of the bank concerned. I note, however, that other banks are mounting campaigns to attract those customers and that at least one other foreign owned bank has reaffirmed its commitment to the Irish market. The availability of...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: No funding was transferred to the covered financial institutions under the bank guarantee scheme. Total liabilities guaranteed under the ELG Scheme amounted to €153 billion at the end of June. The comparable figure at end June for the CIFS Scheme was €103 billion. However, the covered institutions have paid fees to the State in respect of the guarantee - as at end August 2010 €730m has...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: I refer the Deputy to my statement today which sets out in detail the final costs associated with repairing the banking system and the additional support which will be required by some of our banks and building societies.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer of all income tax and corporation tax allowances, reliefs, exemptions and tax credits available are set out in the following tables for 2006, the most recent year for which the necessary detailed historical information is available. Relevant notes relating to items in the tables are also included....

Written Answers — Tax Reliefs: Tax Reliefs (30 Sep 2010)

Brian Lenihan Jnr: The position is that, under section 469 of the Taxes Consolidation Act 1997, expenses incurred in respect of medical or dental treatment (as defined in the Act) outside the State are eligible for income tax relief, provided the treatment is carried out by a practitioner who must be entitled under the laws of the country where the care is provided to practice medicine or dentistry there....

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 132 to 134, inclusive, together. I am informed by NAMA that the debtors whose loans were acquired as part of the first and second tranche transfers are at various stages of progress in terms of the submission and review of their business plans. The task of the NAMA Board is to assess, for each debtor, the ultimate viability of that debtor, given the scale of...

Written Answers — Public Sector Staff: Public Sector Staff (30 Sep 2010)

Brian Lenihan Jnr: The Public Service Numbers reported to my Department for each of the past 10 years are set out in table 1 below. The moratorium on recruitment and promotion was introduced by the Government at the end of March 2009. Since the introduction of the moratorium the numbers employed in the public service have steadily decreased and the latest numbers reported to my Department for end-June 2010 were...

Written Answers — Excise Duties: Excise Duties (30 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products that the information requested by the Deputy is as follows. Firstly, the Revenue Commissioners acknowledge that there is no internationally recognised method for precisely determining the amount of tax lost as a...

Written Answers — Mortgage Relief Schemes: Mortgage Relief Schemes (30 Sep 2010)

Brian Lenihan Jnr: The Government is conscious of the high value Irish people place on owning their own homes and is currently providing support for a number of initiatives designed to assist homeowners who are finding it difficult to meet their mortgage repayments and to prevent home repossessions. I refer in particular to the Mortgage Interest Supplement Scheme (MIS) funded by the Department of Social...

Written Answers — Insurance Industry Regulation: Insurance Industry Regulation (30 Sep 2010)

Brian Lenihan Jnr: Life assurance companies are governed by the Insurance Acts 1909 to 2000 and regulations relating to insurance made under section 3 of the European Communities Act 1972. This body of legislation deals with a range of issues including authorisation provisions, prudential supervision and governance matters. The day to day responsibility for ensuring that the insurance industry complies with...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: To date the banks have paid fees totalling €730m under the Credit Institutions (Financial Support) Scheme 2008. We have also received €296m under the ELG Scheme. This money, and that due under the next payment, will be transferred to the Exchequer in October. I do not expect to receive significant sums in relation to CIFS for Q3 as a credit still applies for overpayments of the CIFS...