Results 6,881-6,900 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Investment Securities: Investment Securities (28 Apr 2009)

Brian Lenihan Jnr: There is no data available on the total value of funds held in bearer bonds here. These debt securities can be issued by both public and private institutions. In general, income arising from or gains on the disposal of bearer bonds is liable to tax in the same manner as income or gains arising on other bonds. In the case of an Irish resident individual, interest or discount income arising on...

Written Answers — Financial Services Regulation: Financial Services Regulation (28 Apr 2009)

Brian Lenihan Jnr: I presume the Deputy's question refers to the redemption fee applied by mortgage providers in circumstances that a customer seeks to break a fixed rate mortgage. Mortgage lenders in Ireland generally seek to recover costs of funds when a borrower with a fixed rate mortgage agreement seeks to terminate the agreement some time before the term agreed. Traditionally redemption fees were...

Written Answers — Legislative Programme: Legislative Programme (28 Apr 2009)

Brian Lenihan Jnr: The details requested by the Deputy are contained in the following table. Legislation pertaining to the Department of Finance Year Legislation Did the legislation originate from Brussels or was it purely national 2007 Finance Act National* 2007 Finance (No 2) Act National* 2007 Ministers and Secretaries (Ministers of State) Act ( No 33 of 2007) National 2007 Appropriation Act National...

Written Answers — National Pension Reserve Fund: National Pension Reserve Fund (28 Apr 2009)

Brian Lenihan Jnr: The Supplementary Budget for 2009 published on 7 April 2009 provides for a contribution of €3 billion from the Exchequer to the National Pensions Reserve Fund (NPRF) in 2009. It projects that no contribution will be required in 2010 and that the contribution in 2011 will be €1.449 billion. The National Pensions Reserve Fund Act 2000 requires the payment from the Exchequer to the Fund each...

Written Answers — Redundancy Payments: Redundancy Payments (28 Apr 2009)

Brian Lenihan Jnr: The treatment of taxable redundancy payments paid prior to 1 May will be considered in the context of the preparation of the forthcoming Finance Bill.

Written Answers — Tax Code: Tax Code (28 Apr 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 147 and 151 together. My Department has been receiving enquiries on this issue and there have been a number of other Parliamentary Questions in recent months. The position is that under statutory pension schemes and pension schemes approved by the Revenue Commissioners, there is no liability to income tax in respect of retirement gratuities or lump sums paid...

Written Answers — Tax Code: Tax Code (28 Apr 2009)

Brian Lenihan Jnr: As part of the normal lead-up to the budget, an examination of tax incentive schemes and tax reliefs is undertaken in the context of the ongoing development of budgetary and economic policy. Arising from an examination of the various schemes which provide tax relief for rental income properties, I decided to reduce the interest relief from 100% to 75% as a deductible expense in calculating...

Written Answers — Departmental Schemes: Departmental Schemes (28 Apr 2009)

Brian Lenihan Jnr: I assume the Deputy is referring to the cycle to work scheme that became available from 1 January this year. There is no provision in the tax code that imposes a duty of care on employers toward employees who participate in the scheme. Such issues are a matter for agreement between each employer and its participating employees. Accordingly, the circular implementing the cycle to work...

Written Answers — Tax Code: Tax Code (28 Apr 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that the tax liability of the person concerned has been reviewed and that a refund will issue next week.

Written Answers — Tax Code: Tax Code (28 Apr 2009)

Brian Lenihan Jnr: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. In many cases, new tractors are subject to Irish VAT irrespective of where they are purchased, and as such VAT would not be a factor that would influence a farmer in purchasing tractors outside the State. A new tractor purchased in the UK by an Irish VAT-registered farmer...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Apr 2009)

Brian Lenihan Jnr: Legislation to establish and govern the operation of the National Asset Management Agency (NAMA) will be introduced during the summer legislative session. Initial work on the preparation of the legislation is under way in parallel with preparation for the operation of the NAMA. I am currently considering the establishment of NAMA on a non-statutory interim basis with a view to undertaking...

Written Answers — Public Service Contracts: Public Service Contracts (28 Apr 2009)

Brian Lenihan Jnr: The procurement procedure for a public works contract comprises a qualitative selection and an award stage. Qualitative selection involves the assessment by a public body of all applicants who have expressed an interest in a tender competition in order to determine which of them have the competency to undertake the work. The award stage, on the other hand, deals with the evaluation of...

Written Answers — Pension Provisions: Pension Provisions (28 Apr 2009)

Brian Lenihan Jnr: I am fully aware of people's concerns following the introduction of the pension-related deduction. However, the key objective is the realisation of the savings needed from the public service pay bill, given the severe economic and budgetary circumstances we face. The approach to the pension related deduction is that it applies generally given the fact that public servants enjoy the benefits...

Circulation of Revised Estimates 2009: Motion (23 Apr 2009)

Brian Lenihan Jnr: I move: That, notwithstanding Standing Order 154(1) or (2) of the Standing Orders of Dáil Éireann relative to Public Business, Revised Estimates for the Public Services for the year ending 31st December, 2009, be presented to the Dáil and circulated to members on 23rd April, 2009, being a date later than that prescribed for the presentation of Estimates and that the Revised Estimates be...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: I propose to share time with Deputies Thomas Byrne, Cyprian Brady and O'Rourke. First, I am pleased to intervene in this debate because the decision taken in this matter was a decision of the Government. To put this matter in context, one should consider what has happened in recent years in the Estimates, in which provision has been made for a 70% Christmas bonus. While it is true that in...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: Prior to the budget, I furnished the finance spokespersons of the Opposition parties with a great deal of information on the precise position of expenditures and revenues in the State and they are well aware of the position. I believe that while the Opposition considers it to be its duty to hold the Government to account and while its spokespersons put forward certain proposals before the...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: One often hears that the money from the Celtic tiger was wasted. However, I wish to put on the record of the House a few essential facts. In the past decade, the Government has been able to provide highly significant increases in welfare payments. For example, the payment of child benefit has increased from less than €44 to €166 per month. The State contributory pension has risen from...

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: These payments compare very well internationally and in particular with payments in Britain and Northern Ireland. Listening to Opposition Members in this House, I often believe they are living in a financial bubble of their own because one continually hears that the Celtic tiger benefitted bankers and developers.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: These are the precise figures regarding the increases that were made in the past decade for the most vulnerable and most dependent in our society.

Social Welfare Benefits: Motion (23 Apr 2009)

Brian Lenihan Jnr: It is important to record that those substantial increases were made. Moreover, it is important to note that while Deputy Crawford represents a Border constituency, most Irish people have frequent exchange and intercourse with our neighbours in Northern Ireland and the United Kingdom.