Results 3,641-3,660 of 16,537 for speaker:Brian Lenihan Jnr

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: Interest rates reflect the cost of money. If the position is that deposit rates are high in Ireland, correspondingly, interest rates will be high in Ireland because banks have to pay interest on foot of the deposit. We need to have a real discussion about the banking problems here and let us move away from the sloganising that has unfortunately taken the place of real debate in many cases.

Bank Recapitalisation. (10 Mar 2010)

Brian Lenihan Jnr: I will get a chance on this one, anyway.

Order of Business (10 Mar 2010)

Brian Lenihan Jnr: The Deputy should send his helicopter.

Finance Bill 2010: Report Stage (Resumed) (10 Mar 2010)

Brian Lenihan Jnr: The Deputy was present last night when it was made clear the Government did not accept it. There was an error.

Written Answers — Financial Services Regulation: Financial Services Regulation (9 Mar 2010)

Brian Lenihan Jnr: It is a priority to ensure that mortgage lending in particular in relation to first time buyers is undertaken on a sustainable and prudential basis by credit institutions and conforms fully to regulatory requirements both in relation to the financial position of the institution itself and also the safeguarding of the consumer's interest. As regards the sale of a mortgage product to an...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Mar 2010)

Brian Lenihan Jnr: Section 22 of the Anglo Irish Bank Corporation Act 2009 provides that I shall appoint an Assessor at an appropriate time having regard to the public interest, to determine the fair and reasonable aggregate value of the transferred shares and extinguished rights and the consequent amount of compensation, if any, that may be payable to persons in respect of Anglo shares transferred and rights...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Mar 2010)

Brian Lenihan Jnr: The position is that under the NAMA Act I will shortly be issuing guidelines to ensure that SMEs, sole traders and farm enterprises will have recourse to an independent, external review of decisions of credit refusal by the NAMA participating banks. I hope that banks not participating in NAMA or covered by the Government guarantee will also decide to join the system. My aim is to have a...

Written Answers — Tax Code: Tax Code (9 Mar 2010)

Brian Lenihan Jnr: I have been informed by the Revenue Commissioners that the above named received a refund of tax on 8 September 2009 and a further refund issued to the spouse on 26th February 2010. If there are any further queries the person should contact Mr Pearse Penney, Office of the Revenue Commissioners, Revenue House, Blackpool, Cork. Telephone: 021 6027266.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Mar 2010)

Brian Lenihan Jnr: A core Government objective is to free up lending on a commercial basis into the economy, particularly to the small business sector, to support economic growth and a number of actions have been taken to achieve this objective. In the context of the bank guarantee scheme and recapitalisation the banks have made important commitments to support business lending, while the Government has taken...

Written Answers — Tobacco Smuggling: Tobacco Smuggling (9 Mar 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners who are responsible for the collection of tobacco products tax and tackling the illicit trade in cigarettes and tobacco products that their strategy for tackling this illicit trade is focused both on intercepting and seizing illicit consignments at the point of importation and on carrying out checks at retail outlets, markets and commercial premises...

Written Answers — Tax Collection: Tax Collection (9 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that, regrettably, due to industrial action by some staff, it is not possible to ascertain the specific details of this case in the time available.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Mar 2010)

Brian Lenihan Jnr: Under the terms of the recapitalisation of the named bank, bonus payments to Senior Executives in 2008 and 2009 were precluded. Approval has been given, in a limited number of cases, to pay bonuses to certain staff, based on legal advice, where a pre-existing contractual commitment existed and has been triggered. The staff involved were mainly located outside of Ireland. Court proceedings...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (9 Mar 2010)

Brian Lenihan Jnr: Under the Credit Institutions (Financial Support) Scheme 2008, the Covered Institution Remuneration Oversight Committee [CIROC] was established comprising three members appointed to oversee all remuneration plans of senior executives and Board Members of the covered institutions. CIROC's recommendations were then necessarily confined to the group covered by its terms of reference. The...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (9 Mar 2010)

Brian Lenihan Jnr: The Covered Institution Remuneration Oversight Committee [CIROC] is a product of the Credit Institutions (Financial Support) Scheme 2008. The following credit institutions and subsidiaries are 'covered institutions' for the purposes of the Scheme: (1) Allied Irish Banks, plc and its subsidiaries AIB Mortgage Bank, AIB Bank (CI) Limited, AIB Group (UK) plc and Allied Irish Banks North America...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (9 Mar 2010)

Brian Lenihan Jnr: I am advised by the covered institutions that the following number of staff are covered by the salary and remuneration ceilings recommended by the report of the Covered Institution Remuneration Oversight Committee: Covered institution Number of senior staff covered AIB 11 Anglo Irish Bank 14 Bank of Ireland 7 EBS 7 Irish Life & Permanent 16 Irish Nationwide 12 Postbank 2 Total 69

Written Answers — Banking Sector Regulation: Banking Sector Regulation (9 Mar 2010)

Brian Lenihan Jnr: My Department wrote to the chairs of the consultative panels suggesting that they might jointly consider the issue of corporate governance in financial institutions with a view to submitting their findings to the Financial Regulator so as to inform the work of the High Level Implementation Group progressing the reform of regulatory structures. The Chairs of both the Industry and Consumer...

Written Answers — Tax Yield: Tax Yield (9 Mar 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the tax take on alcohol in respect of excise duty on beer, spirits, wine and cider in each month of 2009 is as set out in the table hereunder. The yield from each alcohol product in any month can vary considerably across the year for a number of reasons including seasonal factors. Alcohol Products Tax - Provisional receipts Beer Spirits...

Written Answers — Liquor Licences: Liquor Licences (9 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that, regrettably, due to industrial action by some staff, it is not possible to ascertain the specific details of this case in the time available.

Written Answers — Tax Code: Tax Code (9 Mar 2010)

Brian Lenihan Jnr: The cost of the reductions in excise duty announced in the Budget on alcohol products is estimated at approximately €90 million in a full year, when account is taken of the expected change in where alcohol products are sourced. As stated in the Budget the measure was introduced to protect revenue flows and to tackle the phenomenon of cross-border shopping. Following the reductions in excise...

Written Answers — Tax Code: Tax Code (9 Mar 2010)

Brian Lenihan Jnr: As the Deputy may be aware the excise duty on low alcohol beer and cider was reduced in Budget 2009 to 50% of the standard excise duty for both beer and cider products with an alcohol by volume content of 2.8% or less. This change was introduced in order to encourage the consumption of lower strength products. The Government continually looks at the use of the taxation system to promote non...