Results 4,001-4,020 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (3 Feb 2010)

Brian Lenihan Jnr: The Deputy will appreciate that the ratings treatment of bonds, whether from commercial or sovereign issuers, is a matter for the ratings agencies concerned, based on their own assessment criteria. I would also note that, by definition, a range of different elements feed into both the credit rating and yield values of commercial and sovereign debt and straight comparisons between the...

Written Answers — EU Funding: EU Funding (3 Feb 2010)

Brian Lenihan Jnr: My Department made an application to the EU Commission on 27th January 2010 for funding under the EU Solidarity Fund based on estimates of damage received from Departments and local authorities. A regional application was made as the estimate of the extent of the damage does not meet the Solidarity Fund's threshold of 0.6% of GNI or €935.5m for a national disaster. There are specific...

Written Answers — Economic Competitiveness: Economic Competitiveness (3 Feb 2010)

Brian Lenihan Jnr: Ireland in recent years has lost competitiveness as our prices have grown ahead of other euro area countries and our wages have increased at rates above that justified by our productivity. As I said in my recent Budget there is an urgent need to improve the competitiveness of the Irish economy, and in this regard there are already a number of positive developments. Consumer prices in Ireland...

Written Answers — Economic Competitiveness: Economic Competitiveness (3 Feb 2010)

Brian Lenihan Jnr: Ireland in recent years has lost competitiveness as our prices have grown ahead of other euro area countries and our wages have increased at rates above that justified by our productivity. Nonetheless there have been some improvements over the last year although more must be done if sustainable economic recovery is to be achieved. The Consumer Price Index fell by 4.5 per cent in 2009 and is...

Written Answers — Insurance Industry: Insurance Industry (3 Feb 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 196 to 198, inclusive, together. The Financial Regulator does not maintain statistics on insurance premium costs, so I am not in a position to comment specifically upon the level of such increases in the past 2 years nor on the fluctuation in the past five years. However, as mentioned in previous PQs (45220/22 of 2009) the Financial Regulator has provided...

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (3 Feb 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 199 and 200 together. As Minister for Finance I have no function in interest rate decisions by commercial lending institutions. The level of mortgage interest rates reflect a broad range of factors including European Central Bank base rates, deposit rates, market funding costs, the competitive environment and an institution's overall funding. I have already...

Written Answers — Tax Yield: Tax Yield (3 Feb 2010)

Brian Lenihan Jnr: The Exchequer Returns for January, including tax revenue receipts, were published yesterday evening on my Department's website. At end-January, €3,074 million had been collected in tax revenue. The amounts for each tax-head are set out in the following table. € millions Customs 16 Excise Duties 260 Capital Gains Tax 27 Capital Acquisitions Tax 16 Stamp Duties 30 Income Tax 1,051...

Written Answers — Credit Availability: Credit Availability (3 Feb 2010)

Brian Lenihan Jnr: As part of the recapitalisation package announced on 11 February 2009, Allied Irish Bank and Bank of Ireland reconfirmed their December 2008 commitment to increase lending capacity to provide an additional 30% capacity for lending to first time buyers last year. AIB and Bank of Ireland have also committed to public campaigns to actively promote mortgage lending at competitive rates with...

Written Answers — Credit Availability: Credit Availability (3 Feb 2010)

Brian Lenihan Jnr: The second Mazars report on credit availability, published in December, confirmed that while some SMEs are facing significant challenges accessing credit, and the sector in general is more conservative in its borrowing, nevertheless new lending is still taking place. However, the proportion refused credit, especially in certain sectors, remains a concern for Government. With regard to...

Written Answers — Decentralisation Programme: Decentralisation Programme (3 Feb 2010)

Brian Lenihan Jnr: The numbers serving in my Department in Tullamore as of 1 January of each year is as follows: Location Serving on 01/01/2007 Serving on 01/01/2008 Serving on 01/01/2009 Serving on 01/01/2010 Tullamore 110 124 125 117 I am advised by the Revenue Commissioners that the numbers serving in their decentralised locations under the programme are as follows: Location Serving on 01/01/2008...

Written Answers — Appointments to State Boards: Appointments to State Boards (3 Feb 2010)

Brian Lenihan Jnr: The following are the details requested in relation to bodies or agencies under the remit of my Department: Credit Union Advisory Committee The following Committee Members were initially appointed for a three year term by the then Minister for Finance, Mr. Brian Cowen, T.D. in October 2004. The full Committee was re-appointed by the same Minister for a further two year term in October 2007....

Banking Sector Regulation. (3 Feb 2010)

Brian Lenihan Jnr: The Government has decided to establish a framework for a comprehensive investigation into the causes of the systemic failures in the Irish banking sector which culminated in the need for the State intervention in the sector. The framework for investigation will have two stages. The first stage will consist of the preparation of two separate preliminary reports from the Governor of the...

Banking Sector Regulation. (3 Feb 2010)

Brian Lenihan Jnr: With respect to events or parties involved in the collapse of the banking and property sector, I have already made it clear and set out in Dáil Éireann that any wrongdoing which has come to light since September 2008 and any associated failure in the regulatory system to respond to that which was a continuation of previous practices should of course come within the scope of the inquiry of...

Banking Sector Regulation. (3 Feb 2010)

Brian Lenihan Jnr: We will be in a clear position to deal with the issue of subordinated debt on 29 September, and a very exact computation can be made at that stage of what cost, if any, that element of the guarantee occasioned to the State. On the information at my disposal to date, it is an issue of marginal significance.

Mortgage Interest Rates. (3 Feb 2010)

Brian Lenihan Jnr: The level of mortgage interest rates reflects a broad range of factors, including European Central Bank base rates, deposit rates, market funding costs, the competitive environment and an institution's overall funding. Decisions on the level of interest rates are taken autonomously by commercial lending institutions and are not subject to direction by the Minister for Finance. I have already...

Mortgage Interest Rates. (3 Feb 2010)

Brian Lenihan Jnr: There are no indications of any imminent increase in rates at the European Central Bank, but the rates are at very low levels and it is difficult to envisage interest rates remaining at those levels in the medium term. Most Members would recognise that. There is no indication of an imminent change on the part of other Irish banks, but any decision they take will be in the context of the...

Mortgage Interest Rates. (3 Feb 2010)

Brian Lenihan Jnr: The interdepartmental committee is up and running. The group's terms of reference include consulting with various expert groups as well as examining options to improve State support for homeowners with mortgage arrears, including schemes in operation in the US and the UK. The interdepartmental group is made up of public servants. I discussed the existence of the group with the Minister...

Mortgage Interest Rates. (3 Feb 2010)

Brian Lenihan Jnr: I would not have thought so, because his Department would not be of direct relevance in this area. However, there was such discussion and I will be bringing proposals to the Government on the issue.

Mortgage Interest Rates. (3 Feb 2010)

Brian Lenihan Jnr: All these matters are under consideration at the interdepartmental committee.

Departmental Staff. (3 Feb 2010)

Brian Lenihan Jnr: Performance-related pay, while not part of the basic salary of assistant secretaries and deputy secretaries in the Civil Service and of related grades in other parts of the public service, has formed part of their remuneration package since 2001, on foot of a recommendation by the review body on higher remuneration in the public service in its report No. 38. The review body recommended that...