Results 7,121-7,140 of 16,537 for speaker:Brian Lenihan Jnr

Departmental Surveys. (26 Mar 2009)

Brian Lenihan Jnr: That is all I am prepared to say at this stage as well about the budget.

Departmental Surveys. (26 Mar 2009)

Brian Lenihan Jnr: We must safeguard our revenue as well.

Departmental Surveys. (26 Mar 2009)

Brian Lenihan Jnr: The firm promise of amendment. I will give a firm promise of amendment all right but I can tell Deputy Bruton that the United Kingdom has had a very unhappy experience in the reduction of VAT rates.

Departmental Surveys. (26 Mar 2009)

Brian Lenihan Jnr: We have had an unhappy experience due to the increase.

Financial Services Regulation. (26 Mar 2009)

Brian Lenihan Jnr: The Deputy's question refers to the redemption fee or breakage costs applied by mortgage providers in circumstances that a customer seeks to break a fixed rate mortgage to avail of lower variable interest rates. At the outset, as much as fixed rate mortgages provide certainty and security to mortgage holders, it is clear that many fixed rate mortgage holders are tempted to switch for a...

Financial Services Regulation. (26 Mar 2009)

Brian Lenihan Jnr: I will raise the issue, but the consumer director is independent in these matters and has sufficient powers to investigate the matter on her own initiative. I understand that as she is already aware of the level of charges — and should the Financial Regulator feel that such charges do not represent recovery of funding costs — the cost structure can be fully investigated under section 149...

Financial Services Regulation. (26 Mar 2009)

Brian Lenihan Jnr: I share the concerns of other Deputies about this matter. We are all aware of individuals who see the very low interest rates that now obtain and contrast the high interest rates which they are locked into by agreement with the financial institutions. It is a matter for the consumer director to examine at all times, whether the strict legal position is being observed. I certainly will seek...

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: The special group on public service numbers and expenditure programmes was established to examine the current expenditure programmes in each Department and to make recommendations for reducing public service numbers so as to facilitate the Government's task of returning the public finances to a sustainable position. The special group began its work in December. Each Department was asked to...

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: I will consider what Deputy Bruton said, but to date I have not had the benefit of a detailed report on any of the Departments concerned although an amount of work has been done. Deputies will appreciate that the individual reports in different Departments have to be finalised, but regarding the forthcoming budget I arranged to meet the chairman and to be briefed by him in general terms on...

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: In this context, "committed" does not mean politically committed but legally committed.

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: Exactly, but it is not a budgetary option available to a Government to break a contract with a contractor engaged in a capital project. There could be a substantial exposure for the State in the sums which could be recovered by damages and penalties were the State to breach a contract which is contractually committed in the public capital programme. In examining the scope for any savings, I...

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: To take an example, the national roads programme in the context of the main inter-urban routes is contractually committed until the end of 2010.

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: It is true that the bulk of the areas that are not contractually committed tend to be the smaller roads in the Department of Transport, schools, water projects and social housing projects in the Department of the Environment, Heritage and Local Government because these projects are smaller in scale.

Departmental Expenditure. (26 Mar 2009)

Brian Lenihan Jnr: I am not aware of whether Mr. McCarthy has consulted the Comptroller and Auditor General but I will draw Deputy Bruton's suggestion to his attention. A Government decision has been made on the restriction of recruitment in the public sector and that decision was finalised over the weekend.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (26 Mar 2009)

Brian Lenihan Jnr: The Deputy may wish to note that the decision whether an institution operating in Ireland passes on ECB interest rate reductions to customers is primarily a commercial decision for the institution concerned. However, as the Deputy will be aware, I have publicly indicated that I expect institutions to pass on funding cost reductions to their customers as appropriate, including in particular to...

Written Answers — Motor Industry: Motor Industry (26 Mar 2009)

Brian Lenihan Jnr: I am conscious of the decline in the motor industry in Ireland and internationally due to the contraction in economic activity. I and my officials have had meetings with representatives of the motor industry on the matter. In the case of second-hand cars a special VAT scheme is in place in Ireland. This special scheme was introduced in 1994, following strong representations from the motor...

Written Answers — Insurance Industry: Insurance Industry (26 Mar 2009)

Brian Lenihan Jnr: I am aware of the reports referred to by the Deputy. Insurance costs reflect a broad range of factors, including for example, the level of cover, the number of claims, legal and administration costs, the cost of fraud as well as the overall cost level in the economy. My Department has been advised by the Financial Regulator that while the non-life insurance market performed well up to the...

Written Answers — Economic Forecasts: Economic Forecasts (26 Mar 2009)

Brian Lenihan Jnr: The Addendum to the Stability Programme Update, published on 9 January last, forecast total tax receipts in 2009 of approximately €37 billion. However, in light of the continuing weakness in the Exchequer Returns, my Department now anticipates that there could be a shortfall of up to €3 billion on this figure. This would mean that only €34 billion in tax receipts would be collected in...

Written Answers — Public Sector Redundancies: Public Sector Redundancies (26 Mar 2009)

Brian Lenihan Jnr: Proposals for Voluntary Early Retirement (VER) are being developed at present for the public service. However, I would point out that VER has to be seen in the wider context of the problems facing the public finances, and the related requirement for greater control and discipline in regard to public service numbers generally. The programme of rationalisation of State agencies, which I...

Written Answers — Customs Service: Customs Service (26 Mar 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 15 and 18 together. I am informed by the Revenue Commissioners that they are not in a position to provide a reliable estimate of the number and value of cigarettes smuggled into Ireland in each of the past three years due to the fact that there is no proven method for determining this figure. Estimating the tax gap or the amount of tobacco tax lost as a result...