Results 3,041-3,060 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Apr 2010)

Brian Lenihan Jnr: NAMA has a commercial remit and generating a return for the taxpayer is a key objective. However, within the context of its commercial remit, NAMA will consider proposals aimed at facilitating public bodies in the creation of vibrant sustainable communities. I have previously indicated that such bodies could be given first option on NAMA properties for a limited period. With regard to...

Written Answers — Fiscal Policy: Fiscal Policy (28 Apr 2010)

Brian Lenihan Jnr: As part of the annual process the EU Commission recently issued its opinion on Ireland's Stability Programme Update. This, along with the other Member States programmes, was considered at Ecofin. Our Programme, which sets out our plan to have a General Government deficit below 3% of GDP by 2014, was welcomed. The Ecofin Council welcomed the substantial consolidation measures which we have...

Written Answers — Fiscal Policy: Fiscal Policy (28 Apr 2010)

Brian Lenihan Jnr: I take it that the Deputy is referring to the publication last week by Eurostat of Member States fiscal data, including that for Ireland. This publication was based on the most recent Irish fiscal return made to Eurostat. As the Deputy will be aware, all Member States report to Eurostat twice a year in September and March on their fiscal position. In Budget 2010, my Department estimated that...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Apr 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 56 and 66 together. In the first instance it is a matter for independent financial institutions themselves to consider and determine their strategic arrangements, subject of course to necessary regulatory, competition and other relevant requirements. Regarding the State's role, its primary consideration continues to be to protect, in the public interest, the...

Written Answers — Public Service Contracts: Public Service Contracts (28 Apr 2010)

Brian Lenihan Jnr: Studies indicate that in smaller Member States, small and medium enterprises tend to win a high percentage of public contracts. Figures, based on EU studies, indicate that about 65% of Ireland's public contracts, by value, is won by SMEs. This compares to between 30% to 35% for bigger Member States such as the UK, France, Germany and Spain. The figures relate to larger contracts advertised in...

Written Answers — Public Service Appointments: Public Service Appointments (28 Apr 2010)

Brian Lenihan Jnr: The Top Level Appointments Committee (TLAC) holds competitions for and advises Ministers and the Government on appointments to civil service posts at Secretary General, Deputy Secretary and Assistant Secretary and equivalent levels. Since early 2007 the policy has been that open competitions are held for Assistant Secretary and Deputy Secretary and equivalent posts and more recently this...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Apr 2010)

Brian Lenihan Jnr: The draft business plan was produced by the interim NAMA last October before the Board was appointed. Since the appointment of the Board, it has committed to the production of an updated business plan, with its own views, which it will submit to me by the end of June. It will then be published by the Board of NAMA. The business plan is a matter for the Board. However, the CEO of NAMA has...

Written Answers — Air Services: Air Services (28 Apr 2010)

Brian Lenihan Jnr: I note that there have been a number of estimates put forward over the last week or so about the financial impact of the disruption to air travel caused by the volcanic eruption in Iceland, but these have not yet been fully substantiated. The EU Transport Commissioner Mr Siim Kallas has this week suggested that the week-long disruption could have cost companies across Europe up to 2.5...

Written Answers — Tax Code: Tax Code (28 Apr 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 62 and 113 together. Farmers who are registered for VAT are accountable persons for VAT in respect of all their taxable activities, whether those activities consist solely of farming or both farming and other activities such as the generation of electricity for provision to the national grid. As accountable persons for VAT, they would be entitled to claim...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (28 Apr 2010)

Brian Lenihan Jnr: As part of the 2009 Recapitalisation of AIB and Bank of Ireland, the State received an option ("Warrants") to purchase 25% of the existing ordinary shares in each bank (calculated on a post-dilution basis). As disclosed at the time, these warrants are exercisable by the State between the fifth and tenth anniversary of the issuance date of the 2009 Preference Stock. On Monday 26th April, Bank...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (28 Apr 2010)

Brian Lenihan Jnr: In the statement on the banks which I made on 30 March 2010 I announced that I will be seeking the Commission's agreement for a modified extension of the guarantee consistent with a phasing out over a realistic period of time. In line with the State aid approval granted by the European Commission on 20 November 2009 in respect of the Eligible Liabilities Guarantee Scheme, the Commission is...

Written Answers — Labour Market Trends: Labour Market Trends (28 Apr 2010)

Brian Lenihan Jnr: Labour force participation rates have declined, falling by 1.7 per cent, year-on-year, in the fourth quarter of 2009. The decline was more pronounced for males, declining by 2.7 per cent, reflecting the strong decline in employment in the male-dominated construction sector and the challenges of re-skilling this group. We are working across Government departments to meet this challenge....

Written Answers — Bank Losses: Bank Losses (28 Apr 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 67 and 96 together. At the outset I should state that the relationship between Anglo and the company in question is a commercial one. Under the Relationship Framework put in place under the Anglo Irish Bank Corporation Act, 2009, which governs the relationship between the bank and its shareholder the State, issues relating to the commercial activities at the...

Written Answers — Financial Services Regulation: Financial Services Regulation (28 Apr 2010)

Brian Lenihan Jnr: I assume that the Deputy is referring to the potential to issue directives on credit to the recapitalised institutions. To date, I have introduced one credit directive, S.I. No. 127 of 2010 which sets up the Credit Review System on a statutory basis. The Credit Review Office is available to review banks' decisions to refuse credit to small and medium enterprises (SMEs). It will provide an...

Written Answers — Departmental Expenditure: Departmental Expenditure (28 Apr 2010)

Brian Lenihan Jnr: The Office of Pubic Works (OPW) provides car parking spaces for various Government Departments including the Department of Finance. I have been informed by the OPW that the information requested by the Deputy was not readily accessible and required significant resources to collate the relevant details. The OPW are currently finalising these details and will forward them directly to the Deputy...

Written Answers — Unemployment Levels: Unemployment Levels (28 Apr 2010)

Brian Lenihan Jnr: In March, the CSO released the Quarterly National Household Survey for the fourth quarter of 2009. The QNHS' broadest survey-based labour supply indicator, known as S3, which includes the unemployed and those persons outside the labour force showing some interest in obtaining work, was 16.5 per cent in the fourth quarter. The figure is not a broader measure of unemployment. Rather, it...

Written Answers — Small Business Finance: Small Business Finance (28 Apr 2010)

Brian Lenihan Jnr: Following Government approval on 30 March the Credit Review Office (CRO) was launched on 1 April. The Office is independent and will provide an independent opinion of the banks' decisions on whether the credit should have been granted or not. It commenced operation on 7 April and while it is clearly very early in the process the first applications for review arrived last week. A website,...

Written Answers — Economic Growth: Economic Growth (28 Apr 2010)

Brian Lenihan Jnr: Preliminary quarterly national accounts data show that the volume of GNP contracted by 11.3% last year. While this was the largest decline on record, and represents a very significant decline in our living standards, it was not unexpected. In the December 2009 budget, my Department had assumed a double-digit contraction for GNP last year of the order of 101⁄2% and a 71⁄2% decline in...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (28 Apr 2010)

Brian Lenihan Jnr: As the Deputy is aware, since 29 September 2008, the State has guaranteed certain liabilities of credit institutions in Ireland initially under the Credit Institutions (Financial Support) Scheme (the 'CIFS' Scheme) but more recently under the Credit Institutions (Eligible Liabilities Guarantee) Scheme (the 'ELG' Scheme). The Eligible Liabilities Guarantee (ELG) Scheme, which commenced on 9...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Apr 2010)

Brian Lenihan Jnr: The draft business plan was produced by the interim NAMA last October before the Board was appointed. Since the appointment of the Board, it has committed to the production of an updated business plan, with its own views, which it will submit to me by the end of June. It will then be published by the Board of NAMA.