Results 4,421-4,440 of 16,537 for speaker:Brian Lenihan Jnr

Budget Statement 2010 (9 Dec 2009)

Brian Lenihan Jnr: If we work together now and share the burden, we can deliver sustainable economic growth for all.

Budget Statement 2010 (9 Dec 2009)

Brian Lenihan Jnr: The economy went into reverse for three reasons: first, a steady loss of competitiveness during a prolonged boom; second, the bursting of the property bubble; and, third, an international banking crisis which triggered a worldwide recession. In the past 18 months we have put in place a range of far-reaching measures to stabilise the banking system. We took those measures not for the sake of...

Budget Statement 2010 (9 Dec 2009)

Brian Lenihan Jnr: Income tax will apply on a progressive basis to those with higher incomes reflecting their capacity to make a greater contribution. These changes pose a challenge but we cannot continue with the current system, with its myriad anomalies. I look forward to working with my colleagues in the Government on this reform and the closer integration of the tax and social welfare system. BROADENING...

Budget Statement 2010 (9 Dec 2009)

Brian Lenihan Jnr: These charges, like the charge on second homes, will finance the provision of local services by local authorities. High Earners Must Pay Their Fair Share We have set our face against increasing the burden of income tax. However, the Government wants high earners who avail of tax incentive schemes to contribute more in the current difficult circumstances. Accordingly, for the tax year 2010,...

Written Answers — Proposed Legislation: Proposed Legislation (8 Dec 2009)

Brian Lenihan Jnr: The renewed programme for Government provides for the introduction, on a legislative basis, of a more open and transparent system for appointments to public bodies. The legislation will outline a procedure for the publication of all vacancies likely to occur, invite applications from the general public and from the responses create a panel of suitable persons for consideration of...

Written Answers — Departmental Staff: Departmental Staff (8 Dec 2009)

Brian Lenihan Jnr: The Civil Service Code of Standards and Behaviour provides that civil servants who hold positions which are designated positions for the purposes of the Ethics Acts shall not, within 12 months of resigning or retiring from the service:- (a) accept an offer of appointment from an employer outside the Civil Service or (b) accept an engagement in a particular consultancy project where the nature...

Written Answers — Tourism Industry: Tourism Industry (8 Dec 2009)

Brian Lenihan Jnr: The Finance (No.2) Act 2008 confirmed the introduction of an air travel tax from 30 March 2009. However, I took account of concerns raised by the regional airports particularly those on the western seaboard. The lower rate of €2 applies to departures from any Irish airport where the destination is 300 km or less from Dublin airport. This means that all Irish departures to locations such...

Written Answers — Tax Code: Tax Code (8 Dec 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 158 to 160, inclusive, together. I am advised by the Revenue Commissioners that traders in any EU member state who sell goods at the zero rate of VAT to trade in another EU member state have legal obligations in relation to verifying the VAT numbers of the purchasers. This may be done through the EU Internet website to which they have free access. Otherwise,...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (8 Dec 2009)

Brian Lenihan Jnr: As the Deputy will be aware, Anglo Irish Bank is run on an arms length commercial basis. Consequently, decisions which relate to the normal business of the bank are a matter for the Board of Anglo, and the Board is responsible for making such decisions in the best commercial interests of the Bank. The bank has advised me that the asset sale referred to by the Deputy is being considered in the...

Written Answers — National Asset Management Agency: National Asset Management Agency (8 Dec 2009)

Brian Lenihan Jnr: In relation to the €77 billion loan portfolio projected to transfer to NAMA, the NTMA have indicated that the estimated total notional value of financial derivatives attached is €15 billion. These derivatives are typically interest rate swaps or equivalent instruments designed to hedge interest rate payments and the notional value refers to the underlying assets to which the derivatives...

Written Answers — Pension Provisions: Pension Provisions (8 Dec 2009)

Brian Lenihan Jnr: The position is that the income levy applies to all emoluments of an employment, including anything treated as a taxable benefit-in-kind. Income levy is applied to aggregate income before granting relief in respect of losses, capital allowances or pension contributions. In this regard an individual's personal contributions to a personal retirement savings account (PRSA), personal pension...

Written Answers — Tax Collection: Tax Collection (8 Dec 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the claims totalling €862.81 for Deposit Interest Retention Tax (DIRT) which were submitted by the person in question on the 20th and 25th of August 09 were refunded at the end of August. However, inadvertently, additional claims of €122.47, which were submitted on the 9th of September, were not dealt with. These claims have now been...

Written Answers — Tax Code: Tax Code (8 Dec 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that expenditure on the provision of flood-proof doors for a business premises would be regarded as capital expenditure on the provision of a fixed asset and not as an expense incurred in the day-to-day running of a business. While many revenue-type (i.e. non-capital) expenses are generally deductible for tax purposes, capital expenses are only...

Written Answers — Tax Collection: Tax Collection (8 Dec 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recently completed historical data available on incomes is in respect of the income tax year 2007. On this basis the information requested in relation to income earners earning over €100,000 by reference to income quartiles is set out in the tables. To assemble the figures by income quartile, the total number of income earners with...

Written Answers — Tax Code: Tax Code (8 Dec 2009)

Brian Lenihan Jnr: I should point out that the Commissioner of Valuation is independent in the exercise of his duties under the Valuation Act, 2001 and that I, as Minister for finance, have no function in decisions in this regard. The Valuation Act, 2001, which came into effect on 2 May, 2002, provides that all buildings used or developed for any purpose including constructions affixed thereto are rateable...

Written Answers — Budgetary Submissions: Budgetary Submissions (8 Dec 2009)

Brian Lenihan Jnr: I have received a pre Budget submission from the organisation in question. It is policy to review all pre Budget submissions as part of the budgetary process. I would draw to the Deputy's attention that it is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget on what it will contain and I do not propose to deviate from that practice.

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: All of the matters referred to by Deputy Burton are being taken into account in the context of preparing the budget. First, as regards the statistics and the projection for those who will be out of work next year, in light of the general economic data available to my Department, a final forecast in that regard will be made on budget day. Conditions in the labour market remain poor, as...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: It is difficult to reply to a statement. I have always made it clear that, in hindsight, I would prefer not to have introduced the rate, given what the UK authorities did in their budget, which was a competitive, aggressive VAT reduction. It was criticised in all the other European states at the time. I did not defend the increase. I made it clear to Deputy Burton, however, that I did not...

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: I am not.

Fiscal Policy. (3 Dec 2009)

Brian Lenihan Jnr: We are allied to the Liberals now.