Results 5,221-5,240 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tobacco Smuggling: Tobacco Smuggling (3 Nov 2009)

Brian Lenihan Jnr: The measures that are in place and the methodologies used to address the smuggling of illegal cigarettes into this jurisdiction have already been outlined in detail in a comprehensive reply that I issued to Deputy Flanagan on 13 October 2009 in response to Parliamentary Questions Nos. 84 (35772/09), 128 (35770/09) and 129(35771/09). In summary, I am informed by the Revenue Commissioners that...

Written Answers — Economic Forecasts: Economic Forecasts (3 Nov 2009)

Brian Lenihan Jnr: In the April Supplementary Budget my Department published economic and fiscal forecasts for the 2009-2013 period: since then there has been a further decline in the fiscal position in 2009 due to a shortfall in expected tax receipts in the region of €2 billion. It is now expected that the General Government Balance for 2009 will be approximately -12% of GDP, as opposed to -10 3⁄4% of GDP...

Written Answers — Public Sector Staff: Public Sector Staff (3 Nov 2009)

Brian Lenihan Jnr: The Special Group on Public Service Numbers and Expenditure Programmes has made a wide range of recommendations for reform and rationalisation within the public service. All of the recommendations of the Special Group are being considered by the Government in the context of the 2010 Estimates and Budgetary process and Government decisions on the proposals will be taken in that context. As...

Written Answers — Public Sector Pay: Public Sector Pay (3 Nov 2009)

Brian Lenihan Jnr: I am aware of reports on the levels of pay in public service relative to the private sector. Earlier this year I requested the Review Body on Higher Remuneration in the Public Sector to conduct an examination of the pay of the top public service groups covered by its terms of reference including a comparison of how their remuneration compared with that of comparable posts in other countries....

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

Brian Lenihan Jnr: The Government will of course take account of the opinions of expert commentators in relation to NAMA. However it is clear from recent commentaries that even the world's top economic commentators do not speak with one voice on this matter. It is a matter for us in Ireland to do what is necessary to protect our economy and our people having regard to our, perhaps more closely considered,...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (3 Nov 2009)

Brian Lenihan Jnr: As the Deputy will be aware, following European Commission approval, €4bn in capital has now been provided to Anglo. This capital was provided to protect the economy from the wider losses that would occur in the event of the failure of the bank, to protect the substantial deposit base in the bank and to prevent the bank becoming a systemic threat to the financial system. As I stated in my...

Written Answers — Economic Forecasts: Economic Forecasts (3 Nov 2009)

Brian Lenihan Jnr: The Central Statistics Office published national accounts data for the second quarter of 2009 at the end of September. These data show that GDP and GNP fell at an annual rate of 7.4 and 11.6 per cent, respectively, in the second quarter of this year. Combined with the first quarter data, the figures show that the annual rate of decline in the first half of the year was 8.4 per cent in GDP...

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

Brian Lenihan Jnr: The Deputy will be aware that a draft business plan was published by the interim NAMA and presented by me to the Dáil on 15 October. Once the NAMA legislation is passed and the NAMA Board is appointed, a revised business plan will be prepared for approval by the NAMA Board and will be laid before both Houses of the Oireachtas.

Written Answers — Pension Provisions: Pension Provisions (3 Nov 2009)

Brian Lenihan Jnr: In line with the normal practice, I do not propose to comment at this time on what may or may not be included in Budget 2010.

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

Brian Lenihan Jnr: The question of possible refunds of tax to participating institutions as a result of the transfer of assets to NAMA does not yet arise since no such transfers have yet taken place. As the Deputy will appreciate, it will not be possible to quantify the losses until the transfers actually take place. The Irish tax system provides that where a company incurs losses in the course of its trade,...

Written Answers — Public Sector Staff: Public Sector Staff (3 Nov 2009)

Brian Lenihan Jnr: In the civil and public service, Cost Neutral Early Retirement (CNER) has been available since 1 April 2004 for individuals who wish to retire with immediate pension up to 10 years before normal retirement age. More recently, the Incentivised Scheme of Early Retirement (ISER) has been available. The procedures and circumstances whereby these arrangements may be availed of are set out in...

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

Brian Lenihan Jnr: The NAMA Bill sets out a detailed framework for the valuation of loan assets and the security underlying each loan asset. NAMA will conduct due diligence on each loan and examine in detail all documentation relating to the underlying security and the loan contract itself. As a consequence the circumstances to which the Deputy refers to will be factored into the valuation of a loan. The...

Written Answers — Mortgage Arrears: Mortgage Arrears (3 Nov 2009)

Brian Lenihan Jnr: The National Asset Management Agency (NAMA) is being set up to remove land and development loans and associated loans from the balance sheets of participating institutions. The uncertainty associated with these loans has prevented banks from lending and supporting economic recovery. The Government has no plans at present to extend the scope of NAMA beyond land and development loans and...

Written Answers — Tax Yield: Tax Yield (3 Nov 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 145 and 280 together. At the end of September, €23.7 billion in tax revenue receipts had been collected. This was €965 million below the profile target for the first nine months of the year that was outlined in April. The Supplementary Budget forecast that total tax revenue in 2009 would total €34.4 billion. At the publication of the end-September...

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

Brian Lenihan Jnr: The Revenue Commissioners are charged with responsibility for the collection and recovery of a wide range of taxes and duties. They have a strong focus on making sure that everyone complies with their tax and duty responsibilities by paying the right amount within the appropriate deadlines. Revenue expects businesses to continue, notwithstanding the more difficult economic circumstances in...

Written Answers — Irish Credit Bureau: Irish Credit Bureau (3 Nov 2009)

Brian Lenihan Jnr: Decisions by the Irish Credit Bureau on the criteria for placing people on its records are a matter for the Irish Credit Bureau. The Irish Credit Bureau is owned by its members who are mainly financial institutions. The Irish Credit Bureau does not decide who should get credit, but the information it provides may help the lender to decide.

Written Answers — Non-Licensed Money Lending: Non-Licensed Money Lending (3 Nov 2009)

Brian Lenihan Jnr: Non-licensed money lending activity is a matter for the Garda Síochána and any occurrence of such should, therefore, be brought to the immediate attention of a member of the Garda Síochána. The underpinning legal provisions with regard to the prohibition on engaging in the business of moneylending without licence are set out in Section 98 of the Consumer Credit Act 1995. Related offences...

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

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that loss relief for capital gains tax purposes arises where there is a disposal of an asset for a consideration that is less than its acquisition cost or where an asset has been lost or destroyed or becomes of negligible value. Subject to certain conditions (for example, relief cannot be given more than once in respect of a loss) a capital loss can...

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

Brian Lenihan Jnr: As the Deputy will be aware, during the committee stage debate of the National Asset Management Agency Bill, I undertook to bring forward an amendment at Report Stage dealing with the requirements for participating institutions in the area of the provision of credit. I can confirm that I will be doing so later this week.

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

Brian Lenihan Jnr: For a very open economy such as Ireland's exchange rate movements can have a large impact on living standards. In this regard, the appreciation of the euro against both the dollar and sterling is clearly a concern as it undermines the competitiveness of the exporting sector. The traditional-type industries exporting to the UK appear to be especially vulnerable to appreciation of the euro. In...