Results 3,681-3,700 of 16,537 for speaker:Brian Lenihan Jnr

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: I am happy to offer an official briefing to the Opposition spokespersons, which might be helpful in the first instance.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: My understanding is that it does not increase the concept of long-term economic value.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: There may be an issue that one may offset the other. However, it certainly will not increase the amount of the long-term economic value. In the first instance, it might be of value to arrange briefings on the subject. I will certainly undertake to do that.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: The Taoiseach has varied the Order of Business for the Chair. I had better deal with the issues raised in the discussion. The position on the bank losses in the NAMA legislation is as follows. The provision in the 2009 Act limits the amount of relief that can be claimed by participating institutions for losses carried forward from earlier years. It will limit the set-off of carried forward...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: The rate of corporation tax is 12.5%. It will be a minimum of 50% but it is based on a criterion of trading income. Corporation tax in Ireland is a matter of national policy and it is set at 12.5%. A minimum of 50% of trading income of any year will continue to be chargeable, notwithstanding claims for relief for losses carried forward into that year. The issue of the rate of tax for...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: Before Deputy Bruton proceeds, the individual referred to made clear in a statement last summer that he is paying all of his obligations to his banks and paying his loans in full. The Deputy is perfectly well aware of that.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: I do not propose to accept this amendment. Deputies will be aware that the issue of cost-benefit analyses of tax expenditures was considered by the Commission on Taxation but it was of the opinion that tax expenditures should be the subject of ongoing evaluation and appropriate and timely cost-benefit analyses to ensure they are both economically efficient and that parliamentary oversight...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: I did not locate myself and my party as part of that structure.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: I made it clear in my contribution that we are doing a cost-benefit analysis within the Department and not, as suggested by Deputy Morgan, involving outside consultants.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: That is what I am saying. We are doing it within the Department. As set out in my Second Stage speech, I intend to ask each of my colleagues in Government to assess the effectiveness of tax expenditure within their sectors, with particular reference to those the Commission on Taxation recommended should be removed from the tax code. My Department will review the outcome of that sectoral...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: As the Deputy is well aware, I was speaking in the context of the banking position in Ireland. However, in respect of the matter under discussion here, the greatest resistance to removing these tax reliefs comes from Departments that view them as a form of expenditure within their own remit. There must be a detailed engagement Department by Department well in advance of the budget such that...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: I will tell Deputy Burton why. I was speaking of the banking sector. An inquiry into banking is under way, which I welcome and which will be productive. The Joint Committee on Finance and the Public Service had an opportunity to meet Mr. Regling and Professor Honohan. I have had an opportunity to meet Mr. Regling and I meet Professor Honohan on a regular basis. I believe they will do...

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: It is a little off limits, but I will look into the matter. I have had numerous meetings with the credit union movement.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: No. They have a number of concerns. It has not been among the concerns they have raised, but I am sure they will be raising it now and I will have it examined.

Finance Bill 2010: Report Stage (9 Mar 2010)

Brian Lenihan Jnr: First, that is a completely inaccurate characterisation of the process. As I understand the position, we are talking about regulatory capital, which, in the first instance, is a matter for the Financial Regulator, not for Professor Honohan. However, the regulator works closely with the Governor of the Central Bank and also consults with me and discusses these matters. Ultimately, if our...

Written Answers — Labour Market Activation Measures: Labour Market Activation Measures (2 Mar 2010)

Brian Lenihan Jnr: I can assure the Deputy that this Government is open to proposals that would be of benefit to people who are unemployed. Of course, as the Deputy will be aware, Labour Market Activation Measures, including EU programmes in this area, are a matter in the first instance for the Department of Enterprise Trade and Employment. In this respect, I can say that all suitable opportunities for...

Written Answers — Tax Code: Tax Code (2 Mar 2010)

Brian Lenihan Jnr: The Government continues to demonstrate a strong commitment to the Limerick Regeneration Programme. In December 2009, the Government considered the ten year Limerick Regeneration Programme and reaffirmed its commitment to the vision outlined in the Programme. The Government has asked the Limerick Regeneration Agencies to complete its work on the Programme and to prepare a Phase 1...

Written Answers — Tax and Social Welfare Codes: Tax and Social Welfare Codes (2 Mar 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that there is ongoing and improving communications between the Revenue Commissioners and the Commission for Taxi Regulation. The recently published Finance Bill contains provisions which, when enacted, will allow for the supply of information held by the Commission for Taxi Regulation to the Revenue Commissioners. I am informed that, following the...

Written Answers — Public Sector Pay: Public Sector Pay (2 Mar 2010)

Brian Lenihan Jnr: I refer to my reply to Question Nos. 9133/10 and 9199/10 of 23 February 2010. "Section 6 of the Financial Emergency Measures in the Public Interest (No. 2) Act 2009 provides that, in certain limited circumstances, the Minister for Finance may by direction exempt or vary the application of the pay reductions provided for in the Act to public servants or groups of public servants....

Written Answers — Tax Code: Tax Code (2 Mar 2010)

Brian Lenihan Jnr: I announced on Budget night that the application of carbon tax to coal and commercial peat will be subject to a commencement order to allow a robust mechanism to be put in place to counter the sourcing of coal and peat from Northern Ireland where lower environmental standards apply. I do not propose to introduce the tax on coal and peat until that issue is addressed appropriately and that is...