Results 3,461-3,480 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Departmental Staff: Departmental Staff (11 Mar 2010)

Brian Lenihan Jnr: The Term time scheme has been superseded by the new modernised and updated format Shorter Working Year scheme (Circular 14/2009 of 30 April 2009). This new scheme, which was included in the Supplementary Budget of 7 April 2009, has been applicable from 30 April 2009. Subsequently, all Government Departments were asked to extend the terms of the scheme to bodies under their aegis. The...

Written Answers — Pension Provisions: Pension Provisions (11 Mar 2010)

Brian Lenihan Jnr: It is not possible to provide the information requested by the Deputy without having the details of the public servant's superannuation scheme and employment terms. It would then be a matter for the Minister responsible for the relevant body to consider. The Deputy might note that the employee is entitled under the Disclosure Regulations under the Pensions Act to receive the information on...

Written Answers — Tax Code: Tax Code (11 Mar 2010)

Brian Lenihan Jnr: As there was significant price discounting of some alcohol products taking place in the months prior to Christmas, especially in certain supermarkets, it is difficult to measure the degree to which the excise reductions announced in the Budget have been reflected in alcohol prices. However, taking a somewhat longer timeframe it would appear that the excise reductions have generally been...

Written Answers — Public Sector Staff: Public Sector Staff (10 Mar 2010)

Brian Lenihan Jnr: The Government Statement on Transforming Public Services recognises the importance of having a highly motivated and well led public service. The statement emphasises the importance of this as the needs of society and the citizen require better collaboration, joint planning and service delivery between the different sectors and organisations in the public service. A more integrated service...

Written Answers — Tax Code: Tax Code (10 Mar 2010)

Brian Lenihan Jnr: At the outset, I would like to point out to the Deputy that while I did not specifically mention the introduction of a property tax for 2011 in my address to the Irish Taxation Institute, I did stress that the tax base needs to be broadened. In particular, the Deputy will be aware that I mentioned in my address that €2bn out of an overall €3bn adjustment for 2011 would have to be...

Written Answers — Industrial Disputes: Industrial Disputes (10 Mar 2010)

Brian Lenihan Jnr: The current work to rule and other actions are part of a programme of industrial action undertaken by public service unions across the public sector. The industrial action is in response to the pay reductions imposed by the Government on public servants with effect from 1 January last as part of the Government's budgetary strategy to bring the public finances under control. There are ongoing...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (10 Mar 2010)

Brian Lenihan Jnr: In the first instance it is a matter for the 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 financial and economic system of the State. Where public...

Written Answers — Tax Yield: Tax Yield (10 Mar 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 52, 106 and 157 together. The end-February Exchequer Returns, published on 2 March, were generally in line with expectations. At end-February 2010, the Exchequer deficit was €2,407 million compared to €2,085 million at end-February 2009. In terms of tax revenue performance, €4,736 million in tax receipts were collected by the end of February, against a...

Written Answers — National Solidarity Bond: National Solidarity Bond (10 Mar 2010)

Brian Lenihan Jnr: I announced in Budget 2010 that the Government intended to introduce a National Solidarity Bond. This bond will effectively be a new form of our state savings products which are aimed at the retail investor. We already have savings bonds and savings certificates, which are three and five and a half year investment products managed by the National Treasury Management Agency. The new bond will...

Written Answers — Financial Services Regulation: Financial Services Regulation (10 Mar 2010)

Brian Lenihan Jnr: There are basically two categories of charges applied by the banks – interest-related banking charges and non-interest-related banking charges and fees. Interest-related banking charges are determined by the banks themselves on the basis of market considerations and neither the Minister for Finance nor the Financial Regulator would have any statutory role in this matter. In setting the...

Written Answers — Departmental Reports: Departmental Reports (10 Mar 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 55 and 56 together. The Report of the Special Group on Public Service Numbers and Expenditure Programmes was published in July 2009 and outlined 271 recommendations with potential savings of up to €5.3 billion in a full year along with associated staffing reductions of over 17,300 in public service numbers. Following the publication of the Special Group's...

Written Answers — Banking Sector Recapitalisation: Banking Sector Recapitalisation (10 Mar 2010)

Brian Lenihan Jnr: I indicated last September that, following the transfer of eligible bank loans to NAMA, it is likely that institutions will require additional capital and that each institution should explore all available options, both internal and external, for raising such capital. However, I also stated that, to the extent that the institutions are not in a position to raise sufficient capital from such...

Written Answers — Financial Services Regulation: Financial Services Regulation (10 Mar 2010)

Brian Lenihan Jnr: The Deputy will appreciate that the named covered institution is run as an arm's length operation and as such it is not appropriate for me to comment on how it manages its pricing strategies. I have stated publicly that I was disappointed by recent decisions and announcements by covered institutions to increase their variable interest rates but unfortunately such increases reflect commercial...

Written Answers — Financial Services Regulation: Financial Services Regulation (10 Mar 2010)

Brian Lenihan Jnr: I have requested the Financial Regulator to carry out this Strategic Review of the Credit Union Sector in Ireland. The Project is being managed by the Registrar of Credit Unions and my officials are to liaise closely with him throughout the project. With regard to progress, the Registrar has received expressions of interest and is in the process of finalising the Tender Document. He will...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Mar 2010)

Brian Lenihan Jnr: The estimated aggregate discount of 30% that I announced last September was never a prediction or a target rather it was a top-down aggregate estimate of the potential discount that the institutions will face. I always made it clear that the actual valuation will be determined on a loan by loan basis. Only after a significant number of loan-by-loan valuations have been carried out will it be...

Written Answers — Financial Services Regulation: Financial Services Regulation (10 Mar 2010)

Brian Lenihan Jnr: As the Deputy will be aware a detailed and comprehensive legal and regulatory framework is in place in Ireland for the regulation and supervision of the financial services sector. This framework is underpinned by an extensive series of EU Directives governing the conduct of financial services activities on a cross-border basis within the single EU market. Clearly, an effective system of...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Mar 2010)

Brian Lenihan Jnr: The figures I announced to the Dáil in September 2009 regarding NAMA were approximate figures based on estimates produced by certain guaranteed institutions. At all times I have stated that more accurate figures would be available only after participating institutions fully identified their eligible loans and these had been subjected to independent valuation. Based on the assessment of...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Mar 2010)

Brian Lenihan Jnr: Section 73 of the NAMA Act sets out that NAMA may set a date by reference to which the market value of a bank asset or property is to be determined. NAMA have set this date as 30 November 2009. It follows that any property decreases or increases after 30 November 2009 will not be reflected in the NAMA market valuations. Valuation will be in accordance with recognised red book valuation...

Written Answers — Civil Service Staff: Civil Service Staff (10 Mar 2010)

Brian Lenihan Jnr: Since the establishment of the Top Level Appointments Committee (TLAC) in January, 1984, it has the discretion to decide whether posts should be filled by open competition or by a competition run amongst eligible officers across the civil service. Normally, positions are filled in the latter way, but since the establishment of TLAC, 3 posts at the grade of Secretary General, 3 at the grade...

Written Answers — Departmental Estimates: Departmental Estimates (10 Mar 2010)

Brian Lenihan Jnr: The information requested by the Deputy is set out in tabular form below. For each of the years 2004 to 2010, the total Estimate of both Gross and Net voted expenditure (Current and Capital) as outlined in the Revised Estimates Volume (REV) is compared with the final outturn total as audited by the Comptroller and Auditor General and published in the Appropriation Accounts for the relevant...