Results 5,601-5,620 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: At the end of March 2009, the Government introduced a moratorium on public service recruitment and promotion. I allowed for certain exceptions in the Education and Health Sectors for the filling of certain key posts as well as the Local Authorities for requests that related to fire, health and safety, Interreg and beach wardens for whom a more general sanction was given. Based on the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: I am not aware of any irregularities regarding the clearing time for cheques in Ireland. I should explain that the clearing system in Ireland is governed by private arrangements between the participating institutions, operating under the aegis of the Irish Payment Services Organisation (IPSO). The clearing cycle for a cheque should in normal circumstances take no more than three business...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: In the context of the recapitalisation, AIB and Bank of Ireland made specific commitments on lending. I am pleased to say that the measures taken to date by the recapitalised banks, including those relating to lending, are outlined in the supplementary booklet on NAMA. I would direct the Deputy to Section 4 of that booklet. The Credit Supply Clearing Group under the aegis of the Minister...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Oct 2009)

Brian Lenihan Jnr: The Financial Services Ombudsman has requested the power to name institutions where it is in the public interest to do so. My officials are reviewing the issue and have sought legal advice. This advice will help to better inform the deliberations to formulate a policy decision on the issue.

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Oct 2009)

Brian Lenihan Jnr: The role and functions of the Financial Services Ombudsman (FSO) in dealing with consumer complaints complements that of the Financial Regulator in protecting the interests of consumers of financial services as a whole. During the passage of the FSO legislation through the Oireachtas in 2004 it was stated, on behalf of the Minister for Finance, that the Ombudsman's remit essentially is to...

Written Answers — Pension Provisions: Pension Provisions (6 Oct 2009)

Brian Lenihan Jnr: Section 22 of the Social Welfare and Pensions Act 2009 provides that I, as Minister for Finance may, after consultation with the Minister for Social and Family Affairs, make a Pensions Insolvency Payments Scheme (PIPS). PIPS is a cost-neutral Exchequer scheme offering payments in cases where a defined benefit pension scheme is winding up in deficit and the sponsoring employer becomes...

Written Answers — Departmental Expenditure: Departmental Expenditure (6 Oct 2009)

Brian Lenihan Jnr: Following on from my Supplementary Budget last April, every Department was allocated a capital envelope for the period 2009-2013. The aggregate allocation for 2010 amounts to €6.621 billion, or about 4.7% of GNP, which is a considerable commitment to capital investment in times of constrained resources. Each Department was also given approval to enter into contractual commitments amounting...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the taxation treatment applying to donations of land to a charity is as follows. Section 611 of the Taxes Consolidation Act 1997 provides relief from Capital Gains Tax (CGT) involving the donation of an asset by a taxpayer to a charity. The donation must be a bone fide donation and not a commercial transaction at arm's length. In such...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the question of whether farmers are entitled to claim credit for, or a repayment of, VAT charged to them on the installation of wind turbines on their farms depends on whether or not the farmer is registered for VAT. Farmers who are registered for VAT are accountable persons for VAT in respect of all their taxable activities, whether those...

Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (6 Oct 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the named person (details supplied) was issued with a Tax Clearance Certificate on 16 September 2009 having brought his tax affairs up to date on 15 September 2009 when he filed his 2008 tax return.

Written Answers — Telecommunications Services: Telecommunications Services (6 Oct 2009)

Brian Lenihan Jnr: Following an EU procurement exercise conducted by my Department, a mobile phone framework agreement was established to provide non-commercial public sector bodies with a simple way to procure mobile voice and data services at competitive rates from a list of qualified vendors. This framework commenced in February 2008. The framework agreement is intended to maximise volume discounts and...

Written Answers — Departmental Staff: Departmental Staff (6 Oct 2009)

Brian Lenihan Jnr: Currently 10 employees of the Department of Finance are exempt from paying income levy in accordance with the relevant provisions.

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: I introduced the changes in the pension related deduction announced in the Supplementary Budget of 7 April 2009 to ameliorate the impact of the deduction on lower paid public servants. These changes, including the introduction of the €15,000 threshold, took effect from 1 May 2009 and were not backdated. Therefore, no exemption threshold would apply during the period from 1 March 2009,...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Oct 2009)

Brian Lenihan Jnr: It is understood that the Financial Services Authority in the UK is currently engaged in a consultation process on the matters the Deputy refers to. As such, the outcome of this process is yet to be determined. There are currently no plans to proscribe the use of commissions by financial intermediaries in Ireland as it is considered that the existing legislative protections in place for...

Written Answers — Tax Code: Tax Code (6 Oct 2009)

Brian Lenihan Jnr: The position is that payments from the hardship fund have two identifiable component parts. One component part is taxable; the other is not. The part of the payment which relates to the 2006 licence fee is not liable to tax. I understand that when making payments Bord Iascaigh Mhara identified the amount of the payment relating to the 2006 licence fee so that this could be excluded from...

Written Answers — Consultancy Contracts: Consultancy Contracts (6 Oct 2009)

Brian Lenihan Jnr: As the Deputy will be aware, in the setting up of NAMA, the NTMA issued a number of tenders in May 2009 through the procurement website www.etenders.gov.ie to procure banking/financial advisory and legal advisors. Arthur Cox was awarded the legal mandate and HSBC were awarded the banking\advisory mandate. In July 2009, the NTMA issued a tender to procure general banking advisors in relation...

Written Answers — Pension Provisions: Pension Provisions (6 Oct 2009)

Brian Lenihan Jnr: The appellant is a former employee of the Dublin Harbour Police under the Department of Transport. That Department submitted the papers on this appeal to my Department in August. A number of outstanding queries have been raised with the Department of Transport and on receipt of their response, I will determine this appeal without delay.

Written Answers — Tax Yield: Tax Yield (6 Oct 2009)

Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest Act 2009 does not apply to the Judiciary for constitutional reasons. I have no function in relation to the matter but the Revenue Commissioners have published the available information.

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Oct 2009)

Brian Lenihan Jnr: As the Deputy will be aware, an endowment mortgage is a mortgage where only the interest is paid to the lender during the life of the loan. Simultaneously, payments are made into a life insurance policy which is designed to cover the cost of repaying the principal loan amount by the end of the loan term. The majority of these policies are investment based and as a result they are exposed to...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (6 Oct 2009)

Brian Lenihan Jnr: I have an arms-length relationship with each of the institutions and salary and other expenses are matters for the individual institutions. As is the norm, individual director's fees will be outlined in the annual accounts of each of the institutions. I can however comment on directors' fees in general. CIROC made a series of recommendations on executive remuneration including on...