Results 6,661-6,680 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Budgetary Measures: Budgetary Measures (13 May 2009)

Brian Lenihan Jnr: A number of budgetary measures have been implemented which will support economic growth. It is, however, difficult to quantify the impact of these measures. For instance, the introduction of the pensions levy in the public sector earlier this year will lower the cost of running the public sector and send a positive demonstration effect in terms of private sector wages. In addition, the...

Written Answers — Banking Sector: Banking Sector (13 May 2009)

Brian Lenihan Jnr: Under the terms of the Anglo Irish Bank Corporation Act 2009 there is provision for the appointment of an independent assessor to determine the fair and reasonable aggregate value of the Anglo shares transferred and rights extinguished under the terms of the Act, for the purpose of fair and reasonable compensation, if any, in respect of those shares. The outcome of this process is one...

Written Answers — Live Register: Live Register (13 May 2009)

Brian Lenihan Jnr: In the recent budget, survey based employment was projected to fall by 7.8% this year and by 4.6 % next year. As a result unemployment on this basis was forecast to rise to 12.6 % this year and to 15.5 % next year. While not designed to measure unemployment, trends in the live register provide an indication as to the more recent labour market trends. The latest figures refer to April and...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (13 May 2009)

Brian Lenihan Jnr: Anglo Irish Bank is being run on an arms length commercial basis. Accordingly, normal commercial decisions, which include determining the retail and commercial deposit rates, are matters for the board of Anglo. Notwithstanding this, I have been made aware that Anglo Irish Bank has been reducing its rates since the start of the year in line with falling money markets rates. Most recently on...

Written Answers — Financial Services Regulation: Financial Services Regulation (13 May 2009)

Brian Lenihan Jnr: As the Deputy will be aware, fixed rate mortgages can be regarded as a form of insurance against interest rate changes as fixed rate mortgages provide certainty and security to borrowers regarding the level of their repayments. As referred to in the Deputy's question in circumstances where many households are faced with significantly increased financial pressures, the current environment of...

Written Answers — Banking Sector: Banking Sector (13 May 2009)

Brian Lenihan Jnr: As the Deputy will be aware, Anglo Irish Bank is being run on an arms length commercial basis. Consequently, normal commercial decisions, which include those in relation to management and control of the loans and collateral held by the bank, are a matter for the Board of Anglo.

Written Answers — Public Sector Remuneration: Public Sector Remuneration (13 May 2009)

Brian Lenihan Jnr: The Financial Emergency Measures in the Public Interest Act 2009 introduced the deduction from the remuneration of public servants who are members of a public service pension scheme or who have an analogous arrangement, provisions to allow public bodies to reduce the professional fees paid by them to external service providers as well as some changes in the early child care supplement and in...

Written Answers — Tax Code: Tax Code (13 May 2009)

Brian Lenihan Jnr: The position is that where an employee holds a full medical card at any time during the year they are exempt from paying the income levy. Where the income levy has been applied to a particular pay period or periods during the year and an employee presents to their employer/pension provider evidence of being in valid possession of a full medical card, the employer/pension provider should make...

Written Answers — Tax Code: Tax Code (13 May 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that each spouse is treated individually throughout the year by their employer/pension provider when the income levy is applied. According to Revenue records, the person in question is aged over 65; therefore the €20,000 per annum (€385 per week) exemption is applied to each pay period. However, no refund can be made during the year. After the...

Written Answers — Tax Code: Tax Code (13 May 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that section 235 of the Taxes Consolidation Act (TCA) 1997 gives an income tax exemption to sporting bodies, which have been approved by the Revenue Commissioners on the basis that the body has been established for, and exists for the sole purpose of promoting athletic or amateur games or sports. The exemption extends to the amount of the income of...

Written Answers — Local Authority Staff: Local Authority Staff (13 May 2009)

Brian Lenihan Jnr: I have received a letter from Wicklow County Council in relation to the retention of staff at the centre. This is a matter in the first instance for the Minister for the Environment, Heritage and Local Government as the circular in question was issued by his Department and local authority staffing matters are his responsibility.

Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (13 May 2009)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the information requested by the Deputy is as follows. A motor vehicle is detained or seized by authorised Officers of the Revenue Commissioners where there is evidence that it is being retained permanently in the State, is liable to registration and payment of Vehicle Registration Tax (VRT), and its owner has failed to declare the vehicle and...

Written Answers — Tax Code: Tax Code (13 May 2009)

Brian Lenihan Jnr: I assume that the Deputy's question refers to the scheme for tax relief on donations to eligible charities and other approved bodies which is available under section 848A of the Taxes Consolidation Act 1997. The administration of this scheme is the responsibility of the Revenue Commissioners. Under the terms of the scheme, tax relief applies to donations which: • Are €250 or greater in...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (13 May 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 146 to 149, inclusive, and 151 together. A core Government objective is to free up lending on a commercial basis into the economy to support economic growth. In the context of the bank guarantee scheme and recapitalisation the banks have made important commitments to support business lending. A Code of Conduct for Business Lending to Small and Medium...

Written Answers — Financial Services Regulation: Financial Services Regulation (13 May 2009)

Brian Lenihan Jnr: The decision on the interest rate to be charged by a lending institution for house improvement or similar loans is a commercial decision for the financial institution concerned. This decision will reflect a range of different factors including funding costs, market conditions, profitability and business strategy as well as the competitive environment overall. The Deputy will appreciate it...

Written Answers — Tax Code: Tax Code (13 May 2009)

Brian Lenihan Jnr: While the promotion of biofuel is primarily a matter for my colleague, the Minister for Communications, Energy and Natural Resources, the Deputy will be aware the Finance Act 2006 provided for significant tax measures to promote biofuels in Ireland. Under the scheme, biofuel produced under projects approved by the Department of Communications, Energy and Natural Resources are exempt from...

Written Answers — Decentralisation Programme: Decentralisation Programme (13 May 2009)

Brian Lenihan Jnr: Further to my response on 10th December last, the total amount of expenditure on the property aspects of the programme up to the end of February 2009 is approximately €294m. This is comprised of the cost of site/property acquisitions, fit-out works and rent of approximately €290m expended by the OPW together with some €4m in costs incurred by other organisations. My reply of 10th...

Written Answers — Disabled Drivers: Disabled Drivers (13 May 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...

Written Answers — Economic Competitiveness: Economic Competitiveness (13 May 2009)

Brian Lenihan Jnr: The Irish economy's competitive position deteriorated since the early part of this decade. Reasons for our decline in competitiveness include an appreciation of the euro as well as wage costs increasing at a rate faster than productivity improvements. In addition, inflation in Ireland was above the euro area average from 1999 to 2007. As a result, consumer price levels in Ireland are now...

Written Answers — National Debt: National Debt (13 May 2009)

Brian Lenihan Jnr: I am advised by the National Treasury Management Agency that, in line with the Exchequer Borrowing Requirement for 2009 of some €20 billion as set out in the Supplementary Budget, the National Debt will increase to some €71 billion by end 2009. This equates to a General Government Debt ratio at end 2009 of 59% of GDP. The General Government Debt measure does not allow for the offsetting...