Results 6,341-6,360 of 16,537 for speaker:Brian Lenihan Jnr

Financial Services (Deposit Guarantee Scheme) Bill 2009: Committee Stage (Resumed) (17 Jun 2009)

Brian Lenihan Jnr: I read much of that information into the record of the House and I undertook to provide the Deputy with a more detailed statement. The record will show a substantial amount of information about the value of the deposits concerned and the numbers we estimate are at home and abroad. One of the difficulties is that the exercise last year was done on a limit of €50,000 rather than €100,000...

Financial Services (Deposit Guarantee Scheme) Bill 2009: Committee Stage (Resumed) (17 Jun 2009)

Brian Lenihan Jnr: It is a transposition from the relevant EU directive. It is the requirement that the Minister's power to prescribe a higher level of coverage is up until 31 December 2010. That was a compromise arrived at by the finance Ministers when they were drawing up the directive.

Financial Services (Deposit Guarantee Scheme) Bill 2009: Committee Stage (Resumed) (17 Jun 2009)

Brian Lenihan Jnr: At that stage the extent of the coverage will be subject to a review by the EU Commission but there will be no question of an immediate reduction in the coverage.

Financial Services (Deposit Guarantee Scheme) Bill 2009: Committee Stage (Resumed) (17 Jun 2009)

Brian Lenihan Jnr: There are two distinct issues, namely, the reform of the regulatory structures and the Central Bank, and this precise section. They are not connected. The reason for this precise section is that the Central Bank holds the general account from which a payment would be required to be made in the event of this guarantee being called upon. The view of my advisors is that the appropriate agency...

Financial Services (Deposit Guarantee Scheme) Bill 2009: Committee Stage (Resumed) (17 Jun 2009)

Brian Lenihan Jnr: The Government's proposal is to unify the two boards that exist separately for the regulator and Central Bank into a unified Central Bank commission. The Governor will preside over the commission, but accountable to that will be separate independent offices, one on the Central Bank side and the other on the regulator's side, the supervisor of regulation. One of the key issues we will have...

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: Did the Deputy say €60 billion?

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: That is up-front.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: I do not have that information.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: I do not have such information and the Deputy knows I should not have it.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: I am the shareholder in this bank. Deputy Burton has often boasted of her accountancy and commercial knowledge in this House and should be aware that I do not have that information at my disposal.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: My Department does not have it.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: A shareholder in a bank is not entitled to confidential bank or customer information, which Deputy Burton knows perfectly well.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: We know a great deal about this bank, unfortunately.

Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (17 Jun 2009)

Brian Lenihan Jnr: Shareholders of any bank are not entitled to find out personal information about customers, which Deputy Burton knows perfectly well. I agree that the request for a tabular breakdown is very sensible and I would like to put on the record as much as I can in that regard. The Central Bank has indicated it is only possible to roughly estimate the value of deposits covered by this scheme in this...

Written Answers — Tax Code: Tax Code (16 Jun 2009)

Brian Lenihan Jnr: The position is that the income levy does not apply to tracker bonds. These products are currently subject to Deposit Interest Retention Tax (DIRT) at 28% on the interest paid on the date of the maturity payment.

Written Answers — Customs and Excise Seizures: Customs and Excise Seizures (16 Jun 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the amounts of cigarettes and tobacco products seized by Customs at Dublin Airport for the years 2005 to 2008 and 2009 to date are as set out in the following tables. Table 1 relates to cigarettes and Table 2 to other tobacco products. The data for 2009 in Table 2 include a seizure at Dublin Airport cargo terminal of 1.47 kilograms of chewing...

Written Answers — Departmental Staff: Departmental Staff (16 Jun 2009)

Brian Lenihan Jnr: In the Supplementary Budget 2009, I said that consideration would be given to the early extension of the incentivised career break scheme and the shorter working year scheme to other appropriate areas of the public service, as part of the Government's efforts to achieve a reduction in spending on the paybill. My Department wrote to the Personnel Officers in all Government Departments on 5th...

Written Answers — Services for People with Disabilities: Services for People with Disabilities (16 Jun 2009)

Brian Lenihan Jnr: The amount spent on taxis by my Department and the State agencies under its aegis in the years 2008 and 2009 year to date are set out in the following tables. Officers of my Department who find it necessary to use taxis in the course of their work are not restricted to any firm or individual and consequently the Department does not have the information requested by the Deputy in respect of...

Written Answers — Pension Provisions: Pension Provisions (16 Jun 2009)

Brian Lenihan Jnr: The pension-related deduction is calculated by reference to remuneration. Remuneration is defined at section 1 of the Act as emoluments to which Chapter 4 of Part 42 of the Taxes Consolidation Act 1997 applies or is applied and payable by or on behalf of a public service body to a public servant for his or her services as a public servant. This definition includes non-pensionable pay,...

Written Answers — Pension Provisions: Pension Provisions (16 Jun 2009)

Brian Lenihan Jnr: The rationale for giving tax relief for contributions to various types of retirement savings products is to encourage and promote savings over the long term in order that individuals will have an adequate replacement income in old age. A pension fund is not a "rainy day" fund in the normal sense of that term. Emerging demographic indicators point to increasing numbers of people living longer,...