Results 1,981-2,000 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Wealth Distribution: Wealth Distribution (29 Sep 2010)

Brian Lenihan Jnr: The Central Statistics Office (CSO) is responsible for the collection and compilation of statistical information in the State. While the CSO publishes annual data on income distribution in its publication 'Survey on Income and Living Conditions (SILC)', it does not at present collect or compile statistics on wealth or wealth distribution.

Written Answers — Public Service Expenditure: Public Service Expenditure (29 Sep 2010)

Brian Lenihan Jnr: The question of what constitutes "essential public services" is, of course, to some degree a subjective matter, and I note that the Deputy has not defined his terms in this regard. However, the table below, which is extracted from the 2010 Revised Estimates Volume, published in February 2010, sets out the "functional classification" of Gross Current Voted Expenditure as a proportion of Gross...

Written Answers — Exchequer Savings: Exchequer Savings (29 Sep 2010)

Brian Lenihan Jnr: It is assumed that the Deputy is referring to the income levy and increasing the exemption threshold. It is estimated that an increase in the general, non-aged, income levy threshold from €15,028 per annum to €18,304 per annum would cost in the region of €55 million in a full year. This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2008,...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: All taxes and potential taxation measures are constantly reviewed in the context of the Budget and Finance Bill. Capital Gains Tax (CGT) and Capital Acquisitions Tax (CAT) are, in effect, taxes on wealth, in that they are levied on an individual or company on the disposal of an asset (CGT) or the acquisition of an asset through gift or inheritance (CAT). However, they are not annual taxes on...

Written Answers — State-Owned Enterprises: State-Owned Enterprises (29 Sep 2010)

Brian Lenihan Jnr: The Information requested by the Deputy in respect of my Department is as follows: Anglo Irish Bank The Annual Report and accounts for the 15 months ended 31 December 2009 was received in the Department of Finance on 31 March 2010. The Annual Report and Accounts the year ended 30 September 2008 was received in the Department on 19 February 2009. The Department does not approve the Annual...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: My Department understands this question relates to the road haulage industry and the carbon tax. I have no plans to exempt any sector from the carbon tax. The only reliefs from the carbon tax are for those companies that participate in the EU Emissions Trading System (ETS).

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Sep 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. Following the transfer of an individual's loans to NAMA, each borrower is requested to complete a realistic and concise business plan. I am informed by NAMA that this business plan should set out their...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 436, 444 to 446, inclusive, 458 and 471 together. Section 131 of the Finance Act 1992 requires that vehicles used by State residents must be registered. However, there are a number of occasions where an exemption from the payment of VRT tax may apply. One such exemption in respect of VRT and VAT, subject to certain conditions, is provided for in the Disabled...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2010)

Brian Lenihan Jnr: Under the ELG Scheme, term deposits with a term of 5 years or less which are made with one of the covered institutions after the institution joined the scheme and before midnight on 31 December 2010 will be guaranteed for their term. Any discontinuation of the Scheme in the future would have no effect on the guaranteed status of those deposits. In addition, the Deputy should note that retail...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: As the Deputy is aware, the Minister for Finance and Personnel in Northern Ireland Sammy Wilson and I have met on a number of occasions, usually on the margins of the North South Ministerial Council (NSMC) Plenary and SEUPB Sectoral meetings. We have discussed matters of mutual interest, including NAMA and the significant economic and public finance challenges facing both jurisdictions. The...

Written Answers — Employment Statistics: Employment Statistics (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that for the income tax years 2007 and 2008, the latest year for which the necessary detailed statistics are available, the number of income earners that were identified as being active on the PAYE record in respect of each of those years were 2,162,764 and 2,139,687 respectively. A breakdown by reference to each tax region is as follows: Tax...

Written Answers — Ministerial Staff: Ministerial Staff (29 Sep 2010)

Brian Lenihan Jnr: There are staff based in my constituency office in Castleknock, Dublin 15 and also in my Department on Merrion Street. Since my appointment as Minister for Finance on 7 May 2008 details of staffing are as follows: 2010 Grade Number Annual Salary Range Location Personal Assistant 1 €43,816 – €55,415 Merrion Street Personal Secretary 1 €22,023 – €42,122 + 10% of salary paid as...

Written Answers — Anglo Irish Bank: Anglo Irish Bank (29 Sep 2010)

Brian Lenihan Jnr: As the Deputy is aware, the Government announced on 8 September its proposals for the restructuring of Anglo Irish Bank. The approach is to split the bank into two — an Asset Recovery Bank which would work out the bank's assets over time and a Funding Bank which would raise funds for the Asset Recovery Bank. The Statement also indicated that the Central Bank would determine the capital...

Written Answers — Departmental Reviews: Departmental Reviews (29 Sep 2010)

Brian Lenihan Jnr: The Review Group on State Assets and Liabilities began its work in July and it is expected to produce a report before the end of the year.

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 450 and 518 together. As the Deputies will be aware, taxes are considered in the context of the Budget process. It is the usual practice for the Minister for Finance not to speculate in advance of a Budget on what it will contain; and I do not propose to deviate from that practice.

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the air travel tax arising from travel undertaken in any month is payable by airline operators by the 23rd of the following month. Since the introduction of the air travel tax on 30 March 2009, it has yielded a total of €151.7 million. The figures broken down on a monthly basis are as follows: Month 2009 2010 €m €m January 7.5...

Written Answers — Bank Charges: Bank Charges (29 Sep 2010)

Brian Lenihan Jnr: The Government operate an arm's length relationship with the banks in which the State has a shareholding and the commercial decisions on how best to operate the bank remains a matter for management and the board. I have no role in the setting or monitoring of bank charges. This responsibility lies with the Financial Regulator. Indeed, under the Consumer Credit Act, 1995, banks must make a...

Written Answers — Tax Code: Tax Code (29 Sep 2010)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that a claim for refund of tax paid in 2009 was processed in April 2010. No refund was found to be due and a Balancing Statement was issued to this effect on 1 April 2010. An application form for refund of Income Levy was issued to the individual by Limerick Revenue District in June 2010. This form has not been returned to date. It is...

Written Answers — Tax Collection: Tax Collection (29 Sep 2010)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that correspondence in relation to the person's tax position is still ongoing. The matter will be resolved as soon as possible.

Written Answers — Consumer Protection: Consumer Protection (29 Sep 2010)

Brian Lenihan Jnr: I have no responsibility for determining the amount of the deposit which financial institutions require from first time buyers. That requirement is a commercial decision for each individual institution. In deciding on the amount of deposits that they require, I expect the lenders to act responsibly. My role, as Minister for Finance, is to prepare draft legislation for the approval of the...