Results 2,781-2,800 of 16,537 for speaker:Brian Lenihan Jnr

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages (19 May 2010)

Brian Lenihan Jnr: When we enter international arrangements there are always implications for the implementing legislation.

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages (19 May 2010)

Brian Lenihan Jnr: Yes. On the substance of the Commission quarterly report to the lenders, which Deputies Burton and O'Donnell also raised, it would not be prudent for me at this stage to attempt to legislate in detail regarding the information which it would be appropriate to put in the public domain in respect of aspects of the bilateral loans which are provided for in the intercreditor agreements....

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages (19 May 2010)

Brian Lenihan Jnr: There has been a very intensive engagement between Greece and the European Central Bank and European Commission, respectively, in recent months. Finance Ministers have heard the reports of this intensive engagement, which has surveyed not only the balance sheet issues, if one likes, of the sums involved but also the structural defects in the Greek economy. The conditions laid down for...

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages (19 May 2010)

Brian Lenihan Jnr: Who is Goldman Sachs advising exactly?

Euro Area Loan Facility Bill 2010: Second Stage (Resumed) (19 May 2010)

Brian Lenihan Jnr: Much of the debate on this Bill has been constructive and has touched on many of the key economic and budgetary challenges confronting us at both a European and domestic level. The contributions by the various Deputies reflect the broad spectrum of political opinion on how we should address these very fundamental challenges linked to our participation in economic and monetary union. There...

Euro Area Loan Facility Bill 2010: Second Stage (Resumed) (19 May 2010)

Brian Lenihan Jnr: I thank the Ceann Comhairle for allowing me some latitude. Any policy proposals arising from this process will need to be agreed by the member states and cannot be misconstrued as a loss of Irish sovereignty. We are examining other initiatives, including the question of the reform of rating agencies and financial markets and the establishment of a European rating agency. We are also...

Euro Area Loan Facility Bill 2010: Second Stage (Resumed) (19 May 2010)

Brian Lenihan Jnr: The arrangement that was already announced has been resolved. There is no particular issue concerning that. The Commission is not using that as an argument for a revision of the Stability and Growth Pact.

Euro Area Loan Facility Bill 2010: Second Stage (Resumed) (19 May 2010)

Brian Lenihan Jnr: Without trespassing into Question Time, I will conclude by thanking Members of the Fine Gael and Labour parties for their support for the Bill, which is in the national interest and that of the eurozone, also. I look forward to the detailed debate we will be having on Committee Stage.

Euro Area Loan Facility Bill 2010: Committee and Remaining Stages (19 May 2010)

Brian Lenihan Jnr: High midnight rather than high noon has been the norm witnessed in recent months on this subject. It is usually afternoon when we arrive in Brussels and midnight before we resolve the issues. The first question throws light on the last question. The Deputy asked about the rule of unanimity written into the inter-creditor agreement for each advance to the Hellenic Republic. While unanimity...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (18 May 2010)

Brian Lenihan Jnr: Most aspects of banking regulation are governed by the relevant EU directives, in particular the Capital Requirements Directive (CRD), which implements the Basel II capital adequacy framework in the European Union. A wide-ranging programme of reform has been mandated at international level by the G20, arising from analysis which highlighted areas where the existing Basel II framework was...

Written Answers — Official Engagements: Official Engagements (18 May 2010)

Brian Lenihan Jnr: I had a courtesy call with the representatives of the International Monetary Fund during their Article IV mission on Wednesday 29th April 2009 from 10.30 a.m. to 11 a.m. There was no Article IV mission to Ireland during 2008. The Minister for Finance had a courtesy call with the IMF during their Article IV mission on Wednesday 20th June 2007 from 5.30 p.m. to 6 p.m. The Minister of State at...

Written Answers — State Banking Sector: State Banking Sector (18 May 2010)

Brian Lenihan Jnr: The restriction on lending was a condition of the EU Commission approval for the provision of capital to Anglo Irish Bank. The purpose of the State aid restriction on new lending is to reduce the balance sheet and the risk weighted assets of the bank. The Deputy will be aware that Subscription agreements are normally confidential documents. However, since much of the detail of the specific...

Written Answers — Tax Yield: Tax Yield (18 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant information available on the amount of tax forgone in relation to hotel capital allowances is based on personal income tax returns filed by non-PAYE taxpayers and corporation tax returns filed by companies for the years 2004 to 2008, the latest year for which this information is available. The relevant figures alongside the figures...

Written Answers — Pension Provisions: Pension Provisions (18 May 2010)

Brian Lenihan Jnr: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. No withdrawals have been made from the Fund. The Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009...

Written Answers — Health Insurance Providers: Health Insurance Providers (18 May 2010)

Brian Lenihan Jnr: I propose to answer Questions Nos.168, 169 and 189 together. The Financial Regulator has informed me that the solvency margin calculation set out under the EC Directives determines the minimum acceptable requirement. In practice, in common with the Financial Regulator in Ireland, most EU supervisory authorities insist on solvency being maintained above this minimum requirement, as this allows...

Written Answers — Motor Fuels: Motor Fuels (18 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that they are not in a position to provide a reliable estimate on the amount of revenue lost as a result of the illegal sale of laundered fuel, as there is no proven method for determining this figure. The following table illustrates Revenue's enforcement activity regarding laundered fuel over the last four years. Year No. Detections Laundered Fuel...

Written Answers — Civil Service Staff: Civil Service Staff (18 May 2010)

Brian Lenihan Jnr: The number of persons in terms of whole time equivalent who were employed in the civil service prior to the introduction of the moratorium on 27 March 2009 was 39,196. The number currently employed is 37,156 as at the end of March 2010. In relation to the Deputy's query regarding the target number at which point the moratorium on recruitment and promotion in the public service will end,...

Written Answers — Tax Code: Tax Code (18 May 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the tax credits currently allocated to the person in question are in accordance with the information supplied by her to the Office of the Revenue Commissioners. If the taxpayer has any further queries she should contact her local Revenue Office on 1890 22 24 25.

Written Answers — Tax Code: Tax Code (18 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that on the basis of the claims for capital allowances entered on tax returns filed by non-PAYE taxpayers and companies for the tax years 2002 to 2008 in respect of property used for the provision of rented accommodation, both private and commercial, the amounts of capital allowances so claimed and the estimated costs to the Exchequer are as set out...

Written Answers — Tax Code: Tax Code (18 May 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information requested on tax returns does not require the duration of the year spent in rented accommodation to be specified. Accordingly, there is no basis on which the estimate requested by the Deputy could be provided.