Results 15,001-15,020 of 16,537 for speaker:Brian Lenihan Jnr

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: Anglo Irish Bank and the National Asset Management Agency, NAMA, are pursuing all debts owing to them. They are examining spousal transactions and ensuring they are set aside. There is legal provision for setting aside any transaction where assets are transferred to a spouse for the purpose of defeating the rights and just claims of creditors. Regarding Mr. Drumm, the former CEO of Anglo...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I so propose. I would be amenable to it if it was amenable to the House.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: Neither Deputy Noonan nor Deputy Burton has ever suggested in express terms that there should be a default on senior bondholders. I am being fair to both of them in that respect.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I would like to put that on the record. Given the nature of the banking crisis, it is understandable that commentators and some Deputies would canvass, examine and explore various options. Regarding Deputy Michael Ahern's question, were such a decision taken, someone would need to take responsibility for it. That responsibility would be a grave one. I mentioned the legal issue, in that...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I will proceed with dispatch. To respond to Deputy Costello, extradition proceedings can take place at the conclusion of the Garda inquiry. In the event the Director of Public Prosecutions institutes proceedings against particular individuals, their extradition can be sought in respect of those offences. As to the accuracy of information, Deputy Costello went through a wide canvas, in that...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: They are all financial matters. It is disturbing that until the establishment and operation of the National Asset Management Agency accurate information was not forthcoming from the institutions in regard to the banks. We can have a political argument about budgetary projection. Deputy Higgins and I argued this earlier. I refer to Deputy Durkan's question. Bonds are traded so the...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I discussed the roll-up of interest with the authorities at the National Asset Management Agency as an issue of particular concern. I assure the House the agency is dealing with the various developers and their arrangements with the institutions in the context of the preparation of business plans. These plans will ensure that a far more rigorous approach will be taken in regard to...

Written Answers — Tax Collection: Tax Collection (20 Oct 2010)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that no contact has been made by the taxpayer with Revenue in relation to this issue. To pursue the matter the person in question should contact Pearse Penney, Revenue House, Cork. Telephone Number 021 –6027266.

Written Answers — Disabled Drivers: Disabled Drivers (20 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that under the revised registration procedures (operated by the National Car Testing Service (NCTS) since 1 September 2010), the Revenue Commissioners continue to manage and administer the scheme of relief from vehicle registration tax (VRT) for Disabled Drivers and Disabled Passengers. In this regard, where Revenue approves an application for relief...

Written Answers — Vehicle Testing Centres: Vehicle Testing Centres (20 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that under the revised registration procedures (operated by the National Car Testing Service (NCTS) since 1 September 2010) a total of 22 NCT Centres were initially configured for registration purposes to replace the 22 Revenue Vehicle Registration Offices (VROs) that previously performed the registration function. These NCT Centres are, for the most...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Oct 2010)

Brian Lenihan Jnr: The first tranche of loans owed by the largest property developers transferred to the National Asset Management Agency in May 2010 and a second tranche was transferred in July and August. I am advised by NAMA that following the transfer of an individual's loans to NAMA, each borrower is requested to complete a realistic and concise business plan. The viability of the business plan of each...

Written Answers — Tax Code: Tax Code (20 Oct 2010)

Brian Lenihan Jnr: The Business Expansion Scheme was introduced in 1984, to incentivise private investment in long-term equity capital in companies. The scheme assists in the creation and retention of jobs in certain small and medium-sized companies located in Ireland, through the provision of capital investment, which companies would otherwise find difficult to raise. The scheme was reviewed in 2006 and...

Written Answers — Tax Yield: Tax Yield (20 Oct 2010)

Brian Lenihan Jnr: The Seed Capital Scheme was introduced in 1993 to incentivise PAYE workers to consider starting up their own businesses. The scheme assists in the creation of jobs through the refund of tax previously paid by the entrepreneur concerned. The scheme can be utilised in tandem with the associated Business Expansion Scheme to facilitate the further raising of capital, from other investors, for the...

Written Answers — Tax Code: Tax Code (20 Oct 2010)

Brian Lenihan Jnr: The scheme mentioned by the Deputy has not been considered. However, in my view, it would not be appropriate to offer a tax incentive to lenders where loans are provided to family members on a commercial basis. The interest repayable on such loans should act as a sufficient incentive in itself. The Business Expansion scheme is already available to encourage investments in certain small and...

Written Answers — Budget Submissions: Budget Submissions (20 Oct 2010)

Brian Lenihan Jnr: There are many documents related to the budget deficit that are not confidential. My Department has not provided any confidential documentation in relation to the budget deficit to the person referred to in the Deputy's question. As is well known, I have always consulted widely, and confidentially, on matters related to my brief which helps ensure that I have as broad a perspective as...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Oct 2010)

Brian Lenihan Jnr: The Government's State Savings products consist of the National Solidarity Bond, Savings Certificates, Savings Bonds, Prize Bonds, Instalment Savings and Deposit Accounts (POSB). The total amount invested in the State Savings products on Monday, 18 October 2010 was €12.029 billion, made up of €265 million in the National Solidarity Bond, €3.808 billion in Savings Certificates, €3.972...

Written Answers — Departmental Agencies: Departmental Agencies (20 Oct 2010)

Brian Lenihan Jnr: I brought proposals to Government regarding the establishment of a Review Group to examine and advise the Government on the extent to which the current arrangements governing the remuneration of chief executives of commercial State-sponsored bodies remains appropriate having regard to changes in economic circumstances, the commercial environment in which the companies operate and labour...

Written Answers — Public Service Pay: Public Service Pay (20 Oct 2010)

Brian Lenihan Jnr: The Public Service Agreement 2010 - 2014, or Croke Park Agreement, provided for the establishment of an Implementation Body to oversee progress on the implementation of the agreed transformation measures across the Public Service. Mr. P.J. Fitzpatrick, was appointed in July as independent chairman of the Implementation Body with 3 nominees each from Public Service Management and the Public...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Oct 2010)

Brian Lenihan Jnr: Section 53 of the National Asset Management Agency Act 2009 requires NAMA to submit an annual statement to the Minister for Finance 3 months before the commencement of the year to which it relates, with the exception of the financial year 2010 which had to be submitted before 1 July 2010. Section 55 of the Act requires NAMA to make a quarterly report to the Minister for Finance within 3...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (20 Oct 2010)

Brian Lenihan Jnr: The Deputy will be aware that my Department and Mr. Trethowan of the Credit Review Office receive monthly progress reports from the two banks which allow us to monitor their lending to viable businesses in all sectors of the economy and in every area of the country. This information is commercially sensitive. The banks have 12 months to reach their targets and the overall results of their...