Results 15,561-15,580 of 16,537 for speaker:Brian Lenihan Jnr

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: A number of issues were raised. First, Deputy Burton raised the question regarding the funding cliff. I agree with the Deputy that this is a very important question. As I said a few moments ago, at the heart of this discussion must be our future debt dynamics and the impact of such lending on them. As for the letter of intent, the plan being published tomorrow is a four-year plan for...

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: No, funnily not. It is just the usual textual tidying up that happens at the conclusion of the drawing up of a document. This remains to be done and I undertake to give the Opposition spokespersons a copy as early as I can tomorrow morning. However, the reason for the delay in furnishing them with copies is that much textual work went on in the document over the last 24 hours and final...

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: That is a matter for the talks.

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: It may well, but again the key point-----

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: It is an important point and I can clarify it for the Deputy quickly. It is not the formal letter of intent.

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: Yes, it is the basis but it is not in itself the formal letter of intent. Deputy Morgan asked about the issue of the contingent character of the funds and Deputy O'Donnell also touched on this point when he asked for a breakdown between the different facilities. A precise breakdown between the facilities has not been agreed. In reply to Deputy Morgan question regarding the contingent...

Meeting of Ministers for Finance of the Eurogroup: Statements (23 Nov 2010)

Brian Lenihan Jnr: The State could fund itself in any event for the earlier half of next year and could return to the markets during their programme, were there sufficient market confidence, and raise funds for itself. That is the contingent character of the State funds. Moreover, the type of funds that may be required are clearly known from the size of Ireland's Exchequer deficit and projected Exchequer...

Written Answers — Tax Code: Tax Code (23 Nov 2010)

Brian Lenihan Jnr: Income tax relief on employee and individual pension contributions is currently allowed at the taxpayer's marginal income tax rate, that is, at the standard or higher rate of income tax as appropriate in each case. The National Pensions Framework published in March 2010 sets out a policy approach for the longer-term development of the pension system in Ireland. In that regard, the Framework...

Written Answers — Pension Provisions: Pension Provisions (23 Nov 2010)

Brian Lenihan Jnr: As I announced in Budget 2010, the Government is committed to the introduction of a new single public service pension scheme for new joiners. The new scheme is aimed at securing considerable long-term Exchequer savings, while continuing to offer fair and reasonable pensions to retired public servants. Its principal features will include career-average benefit accrual, inflation-indexation of...

Written Answers — Flood Relief: Flood Relief (23 Nov 2010)

Brian Lenihan Jnr: My Department made an application to the EU Commission for funding under the EU Solidarity Fund. 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 euro for a national disaster. Some 111.5m euro of the 276.9m euro costs to the State were eligible for assistance under the EU Solidarity Fund...

Written Answers — Tax Code: Tax Code (23 Nov 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that section 598 of the Taxes Consolidation Act 1997 grants relief from Capital Gains Tax on the disposal by an individual of all or part of his or her farming assets. The relief also applies to the disposal by an individual of all or part of the shares of a company, which is both a farming company and the individual's family company. Finally, the...

Written Answers — Departmental Staff: Departmental Staff (23 Nov 2010)

Brian Lenihan Jnr: There are no proposals for additional voluntary redundancy plans before Government.

Written Answers — Tax Collection: Tax Collection (23 Nov 2010)

Brian Lenihan Jnr: The Revenue Commissioners are charged with responsibility for collection and recovery of a wide range of taxes and duties including VAT. Revenue expects businesses, notwithstanding the difficult economic and financial circumstances in which they are operating, to organise their financial affairs so as to ensure that tax debts are paid as they fall due. Apart from the critical importance of...

Written Answers — Corporate Accountability: Corporate Accountability (23 Nov 2010)

Brian Lenihan Jnr: I understand that the Deputy's question relates to large, globally active, investment firms. It would not be appropriate for me to comment directly on the Deputy's concerns as set out in his question in the absence of more specific information on the issues to which it might relate. However, I would like to advise the Deputy of a number of important initiatives that have taken place at EU...

Written Answers — Tax Code: Tax Code (23 Nov 2010)

Brian Lenihan Jnr: Consideration of how to ensure that the financial sector contributes to the cost of dealing with crises is under way in various fora internationally, including the EU and the UN. The European Council in June agreed that EU Member States should introduce systems of levies and taxes on financial institutions to ensure fair burden-sharing and to set incentives to contain systemic risk. The...

Written Answers — Departmental Expenditure: Departmental Expenditure (23 Nov 2010)

Brian Lenihan Jnr: The Scheme of Payments to the Promoters of Certain Charitable Lotteries is paid from the Vote for my Department. The total amount of funding paid to charities under the Scheme was €7.618m in each of the years 2002, 2003 and 2004, €7.730m in 2005 and €8.618m in the years 2005 to 2009 inclusive. Details of the amounts paid to each of the charities under this Scheme in each of the years...

Written Answers — Insurance Industry: Insurance Industry (23 Nov 2010)

Brian Lenihan Jnr: The decision about whether to renew cover in any insurance situation is a commercial matter for insurance companies, which is considered on a case by case basis, as this allows the insurance company to properly assess the risk they are accepting. In my role as Minister for Finance I have no function or influence in this matter. In this regard, it should also be noted that there can be...

Written Answers — Pension Provisions: Pension Provisions (23 Nov 2010)

Brian Lenihan Jnr: The savings likely to arise from the proposed new single pension scheme will depend on the final details of that scheme. These are under active consideration in my Department in the context of the preparation of the necessary legislation to give effect to the new measure and have not yet been decided by Government. While I am not in a position to give the detailed figures requested by the...

Written Answers — Proposed Legislation: Proposed Legislation (23 Nov 2010)

Brian Lenihan Jnr: Senator Quinn's Private Members Construction Contracts Bill 2010 is currently before the Seanad and is expected to proceed to Committee Stage shortly. The Government appreciates that this is an important piece of legislation and is working closely with the Senator in relation to it. It will then have to proceed to the Dáil in the New Year.

Written Answers — Tax Code: Tax Code (23 Nov 2010)

Brian Lenihan Jnr: Section 848A of the Taxes Consolidation Act 1997 (TCA) already provides for a generous scheme of tax relief for donations of money or designated securities to eligible charities and other approved bodies. Schedule 26A, Part 1, of the TCA, sets out the approved bodies for which donations relief is available. The majority of educational establishments in the State are eligible. The precise...