Results 6,381-6,400 of 16,537 for speaker:Brian Lenihan Jnr

Financial Services (Deposit Guarantee Scheme) Bill 2009: Second Stage (16 Jun 2009)

Brian Lenihan Jnr: There would be an immediate liability on Ireland of €64 billion, with incalculable consequences for the funding of the national debt and the position of other banks. When we speak about bondholders, let us distinguish between those about whom we are talking. There is a fundmental distinction between subordinated debt holders who have no particular advantage under the guarantee in the case...

Order of Business. (16 Jun 2009)

Brian Lenihan Jnr: I have heard that before.

Financial Services (Deposit Guarantee Scheme) Bill 2009): Order for Second Stage. (16 Jun 2009)

Brian Lenihan Jnr: I move: "That Second Stage be taken now."

Financial Services (Deposit Guarantee Scheme) Bill 2009: Second Stage (16 Jun 2009)

Brian Lenihan Jnr: I move: "That the Bill be now read a Second Time." The Financial Services (Deposit Guarantee Scheme) Bill 2009 is one part of a two-stage legislative package - the other being a complementary statutory instrument which I will make as soon as the Bill has been enacted - to amend and update the Irish deposit guarantee scheme in line with the Government's announcement of 20 September 2008. The...

Written Answers — Tax Code: Tax Code (11 Jun 2009)

Brian Lenihan Jnr: I believe that in these times of scarce resources support should be targeted at those most in need. Mortgage interest relief has therefore been limited to the first seven years of a mortgage from 1 May 2009. The relief is now targeted at those who bought their home when prices were at their peak while also supporting those who wish to move, improve or buy for the first time.

Written Answers — Tax Code: Tax Code (11 Jun 2009)

Brian Lenihan Jnr: The position in relation to Child Benefit is as set out in my Supplementary Budget on 7 April 2009. The Government does not believe that it is fair to pay the same level of benefit irrespective of the level of income of the recipient. In times of scarce resources the Government believes support should be targeted at those most in need. My Department, together with the Department of Social...

Written Answers — Tax Code: Tax Code (11 Jun 2009)

Brian Lenihan Jnr: The position is that, in line with many other social welfare allowances, pensions and benefits, the carers allowance awarded by the Department of Social and Family Affairs is taxable.

Written Answers — Financial Services Regulation: Financial Services Regulation (11 Jun 2009)

Brian Lenihan Jnr: I refer the Deputy to his similar Parliamentary Question 108, Ref No: 22371/09 for answer Tuesday, 9th June, 2009. As stated in answer to that question, I have asked my Department to reconvene the Group, representative of stakeholders, the Regulatory Authority and my Department, which successfully reviewed the Section 35 lending limits in 2006. The mandate for this Group will be to find a...

Written Answers — Tax Code: Tax Code (11 Jun 2009)

Brian Lenihan Jnr: Cohabitating couples are expressly recognised for the purpose of social welfare law but are not recognised for the purposes of income tax law. Although this may appear contradictory, the main aim of both the welfare code and the tax code is to uphold the constitutional right of married couples not to be treated less favourably than unmarried couples. The basis for the current tax treatment...

Written Answers — Departmental Agencies: Departmental Agencies (11 Jun 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that their office in Mullingar is not a public office and therefore its closure will not have any service implications for the people of Westmeath. Service for the people of Westmeath is and will continue to be available through the Athlone office, the VRO in Tullamore and via the locall 1890 service. Revenue's Border Midlands West Region has the...

Written Answers — Tax Code: Tax Code (10 Jun 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that over 95% of applications for registration across all areas of taxation are completed within 5 to 10 working days. In a small number of cases the timescales for processing a registration application will be longer due to the requirement to protect against possible tax loss. Delays can occur when the standard checks give cause for concern in...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Jun 2009)

Brian Lenihan Jnr: Loans will be transferred to NAMA at an appropriate written down value in order to ensure value for money for the taxpayer. The NTMA is in the process of engaging experts to assist the interim Managing Director of NAMA and, on their appointment, those experts will contribute to the development of an appropriate valuation methodology, which will ensure fairness and the independence of the...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Jun 2009)

Brian Lenihan Jnr: The Government examined all of the potential approaches available to it in dealing with risky assets on the balance sheets of Irish banks, which were preventing banks from lending into the economy and thereby supporting economic recovery. Taking account of Dr Peter Bacon's report on options for resolving property loan impairments, and the consensus amongst the Government's advisors including...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (10 Jun 2009)

Brian Lenihan Jnr: The Consumer Credit Act, 1995 ("the Act"), is the principal piece of legislation protecting the consumer in the context of mortgage credit agreements with a lender. The Act requires that the credit agreement governing the relationship between the lender and the consumer for the duration of the agreement, to be in writing. Agreements may include a provision allowing a consumer to switch from a...

Written Answers — Disabled Drivers: Disabled Drivers (10 Jun 2009)

Brian Lenihan Jnr: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: The results of Friday last's elections have been very good for the parties opposite and I congratulate them on their success. I especially congratulate Deputy Kenny on his success in rebuilding his party after seven years in a political wilderness. It is a political achievement, but it is important to remind ourselves that the questions before the electorate on Friday last were the...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: Deputy Bruton proposes cuts, we agree and subsequently introduce those cuts, and they, in turn, are opposed by two of his party colleagues

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: It is a farce and it gives the lie to the notion that in most cases, the Opposition wants to do anything other than make political hay out of this economic crisis. Fine, if that is what they want to do, do it but please be honest enough to admit it. In the last year, the Government introduced a fiscal correction of over €8 billion, that is, approximately 5% of GDP. No other country in...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: The journey continues as we will take the necessary decisions to bring sustainability to the public finances. That is the challenge that would face any party in Government to bring the General Government Balance to the requisite requirement of the Stability and Growth Pact. This approach has received the approval of the European Commission and we have seen visible public support from the...

Confidence in Government: Motion (resumed) (10 Jun 2009)

Brian Lenihan Jnr: -----fuels misinformation about the economy and makes it more difficult and costly for Ireland to fund itself in international financial markets. The country is not bankrupt. We have a flexible and resilient economy that is adjusting rapidly to the new economic circumstances. We have world-class, modern export industries built in a low tax, pro-enterprise business environment that the...