Results 4,521-4,540 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (3 Dec 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the penalties for smuggling cigarettes and tobacco products into Ireland are as follows: On summary conviction, the penalty is a fine of €5,000 and/or a term of imprisonment not exceeding 12 months. The trial judge may mitigate the monetary fine by up to 50%. On conviction on indictment, the penalty is a fine of three (3) times the value...

Written Answers — Tax Collection: Tax Collection (3 Dec 2009)

Brian Lenihan Jnr: It is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax or expenditure matters that might be the subject of Budget decisions.

Written Answers — Fiscal Policy: Fiscal Policy (3 Dec 2009)

Brian Lenihan Jnr: An assessment of the impact of the 2010 Budget will be published on Budget day.

Written Answers — Fiscal Policy: Fiscal Policy (3 Dec 2009)

Brian Lenihan Jnr: As measured by the Consumer Price Index (CPI), prices in Ireland fell by 6.6 per cent in the year to October. This is the largest comparable fall since the 1930s. On a harmonised basis the falls in prices are set to be the largest in the euro area this year, and are set to fall next year as well. This will bring about a welcome improvement to our relative price levels and assist with a...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (3 Dec 2009)

Brian Lenihan Jnr: As the Deputy is aware, the report of the Covered Institutions Remuneration Committee (CIROC) was placed before the House on 13 March 2009. I have informed this House before that the Government considers the CIROC recommendations regarding remuneration of chief executives including bonuses, pensions, long term incentive plans, which includes stock options, are appropriate but that basic...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Dec 2009)

Brian Lenihan Jnr: The latest available statistics on credit availability, published by the Central Bank on 30 November, cover the period October 2009. As the NAMA legislation was only passed on 12 November and signed into law on 22 November, it is not yet possible to say whether this has had any effect on the availability of credit to small businesses.

Written Answers — Tax Code: Tax Code (3 Dec 2009)

Brian Lenihan Jnr: The estimated full year cost to the Exchequer of reducing the 21.5% standard rate of VAT by 1 percentage point is €334 million. This would impact on inflation by reducing the Consumer Price Index by 0.36%.

Written Answers — Banking Sector: Banking Sector (3 Dec 2009)

Brian Lenihan Jnr: A core Government objective is to free up lending on a commercial basis into the economy 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. An independent review of credit availability was agreed in the context of...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (3 Dec 2009)

Brian Lenihan Jnr: Paragraph 47 of the Credit Institutions (Financial Support) Scheme 2008 provides that bonuses for directors or senior executives must be measurably linked to reductions in guarantee charges, reduction in excessive risk-taking and encouraging the long-term sustainability of the covered institutions. The Deputy will appreciate that in answering his question about bonuses to staff, the terms...

Written Answers — Departmental Expenditure: Departmental Expenditure (3 Dec 2009)

Brian Lenihan Jnr: The latest information available to me is that contractual commitments for 2010 amount to approximately €4 billion. Data received from the Department of Environment, Heritage and Local Government shows that by end 2009, construction tender prices are expected to be about 20 percent lower than in 2006. According to this information, total construction inflation was 6.2 percent for 2006; 2...

Written Answers — Economic Competitiveness: Economic Competitiveness (3 Dec 2009)

Brian Lenihan Jnr: As the Deputy may be aware, the Revenue Commissioners and the Central Statistics Office (CSO) prepared a report, at my request, on the Implications of Cross Border Shopping for the Irish Exchequer. The report was published on my Department's website on 20 March 2009. The report estimated the likely value of cross-border shopping in 2009 to be in the range of €450m to €700m, with a...

Written Answers — Tax Code: Tax Code (3 Dec 2009)

Brian Lenihan Jnr: The position is that my Department meets regularly with the Revenue Commissioners as part of the Budget and Finance Bill process. I should point out that it is a longstanding practice of the Minister for Finance not to comment in advance of the Budget on any tax or expenditure matters that might be the subject of Budget decisions.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (3 Dec 2009)

Brian Lenihan Jnr: All but two of the covered institutions have replaced their CEOs since 2008. Similarly all but two of the covered institutions have had a change of Chairman since 2008. In addition to the introduction of the public interest Directors, each of the covered institutions have also had changes to the membership of their Boards of Directors. The job descriptions and terms and conditions of...

Written Answers — Freedom of Information: Freedom of Information (3 Dec 2009)

Brian Lenihan Jnr: The Government has decided to implement significant changes in financial regulatory structures and in this regard I shall be bringing forward legislative proposals early next year relating to the Central Bank and Financial Services Authority of Ireland (CBFSAI). Accordingly, it is not an appropriate time to consider the possible extension of the FOI Act to that organisation. Significant...

Written Answers — Consumer Protection: Consumer Protection (3 Dec 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 77 and 83 together. A bill providing for the establishment of the Central Bank Commission will be published early next year. The restructured Central Bank of Ireland will continue to have significant responsibility for consumer protection issues. This will include monitoring compliance, for example with statutory codes of practice for the financial services...

Written Answers — Job Losses: Job Losses (3 Dec 2009)

Brian Lenihan Jnr: In the Pre-Budget Outlook, based on information to hand at end-October, my Department projected that employment will fall by about 33⁄4 per cent next year, the equivalent of around 75,000 job losses. The latest Central Bank forecast is for a decline of 86,000 in the level of employment next year while the corresponding forecast from the ESRI is for a decline of 80,000 jobs. An update of...

Written Answers — Banking Sector: Banking Sector (3 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 commercial business of the bank are a matter for the Board of Anglo. Also, as with all financial institutions, Anglo's dealings with its customers are subject to the normal provisions on client confidentiality, and it would therefore not be appropriate...

Written Answers — Flood Relief: Flood Relief (3 Dec 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 80 and 81 together as the questions cover the same general area. A number of Government Departments and agencies have responsibility for emergency planning functions. In the current flooding situation, the Department of the Environment, Heritage and Local Government is chairing an Emergency Response Coordination Committee which meets on a daily basis to handle...

Written Answers — Insurance Industry: Insurance Industry (3 Dec 2009)

Brian Lenihan Jnr: My Department is currently considering how this review should be conducted, who the appropriate participants should be as well as the consultative requirements. Account will have to be taken in this review of the difficult market conditions that insurers are currently operating in. For instance a report published earlier this year by Standard & Poor's titled 'A Testing 2009 for the Irish...

Written Answers — Employment Support Services: Employment Support Services (3 Dec 2009)

Brian Lenihan Jnr: The position in relation to opportunities for employment to the Public Service generally is limited by the recruitment and promotion moratorium which was announced on the 27th March this year. The moratorium applies, with limited exceptions, to the civil service, local authorities, non-commercial state bodies, the Garda Síochána, the Permanent Defence Forces and to certain bodies...