Results 7,761-7,780 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Fiscal Policy: Fiscal Policy (18 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 59 and 146 together. The recently published Addendum to the Stability Programme Update set out revised forecasts for the period 2009-2013. On foot of the revised projections, the Government has taken substantive immediate action to address the fiscal and economic situation by setting out the details of the expenditure savings of up to €2 billion in a full...

Written Answers — Motor Industry: Motor Industry (18 Feb 2009)

Brian Lenihan Jnr: I am conscious of the decline in new car sales both in Ireland and internationally, due to the contraction in economic activity. The condition of the motor industry is the subject of ongoing discussions between my Department and the Society of the Irish Motor Industry.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Feb 2009)

Brian Lenihan Jnr: The European Investment Bank (EIB) announced on 3 October 2008 that it was increasing its support for Europe's small and medium-sized enterprises (SMEs), to help mitigate the effects of the current credit crisis, through the establishment of a €30 billion facility to provide loans to SMEs through commercial banks. Participation in the facility is a commercial decision for individual...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Feb 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 63 and 101 together. As part of the banks recapitalisation scheme Allied Irish Bank and Bank of Ireland have committed to a range of measures to maintain a flow of credit to small businesses. They have committed to increase lending capacity to small to medium enterprises by 10% and to providing an additional 30% capacity for lending to first time buyers in...

Written Answers — Foreign Direct Investment: Foreign Direct Investment (18 Feb 2009)

Brian Lenihan Jnr: The relationship between Ireland and the United States is unique in terms of our political, economic and cultural links. The Government and I attach the highest importance to strengthening that relationship and in consolidating and growing the economic partnership between our two countries. That partnership has contributed enormously to the very significant trade and investment ties with the...

Written Answers — Banking Sector Investigations: Banking Sector Investigations (18 Feb 2009)

Brian Lenihan Jnr: Under the terms of the Guarantee Scheme, there are reporting requirements for all covered institutions, including Anglo Irish Bank, to monitor compliance with the objectives of the Scheme, which include maintaining financial stability and minimising the potential cost to the Exchequer and taxpayers. Also, as the Deputy will be aware, PricewaterhouseCoopers were commissioned by the Financial...

Written Answers — Insurance Sector Regulation: Insurance Sector Regulation (18 Feb 2009)

Brian Lenihan Jnr: The Financial Regulator has informed me that information on insurance companies operating in Ireland is collected for prudential supervision purposes under legislation. All non-life insurance companies that hold an authorisation and whose head office is in the State must produce to the Financial Regulator an annual account covering the types of operation specified in the Schedule to...

Written Answers — Departmental Agencies: Departmental Agencies (18 Feb 2009)

Brian Lenihan Jnr: There are no plans under development in my Department to establish a new State enterprise agency. Responsibility for State enterprise is a matter for my colleague, the Tánaiste and Minister for Enterprise, Trade and Employment, Deputy Mary Coughlan.

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (18 Feb 2009)

Brian Lenihan Jnr: The Government believes that pay restraint is important in the overall context of the economy and the financial supports being provided by the taxpayer to the covered institutions under the Credit Institutions (Financial Support) Scheme 2008 (the Scheme). Section 47 of the Scheme requires each covered institution to prepare a plan to structure the remuneration packages of directors and...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (18 Feb 2009)

Brian Lenihan Jnr: The Government believes that pay restraint is important in the overall context of the economy and the financial supports being provided by the taxpayer to the covered institutions under the Credit Institutions (Financial Support) Scheme 2008 (the Scheme). Section 47 of the Scheme requires each covered institution to prepare a plan to structure the remuneration packages of directors and...

Written Answers — Pension Provisions: Pension Provisions (18 Feb 2009)

Brian Lenihan Jnr: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare and public service pensions to be paid from the year 2025 until at least 2055. The National Pensions Reserve Fund Commission controls, manages and invests the assets of the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (18 Feb 2009)

Brian Lenihan Jnr: A well functioning financial system is a key ingredient of our economy and the Government has provided decisive action in this regard. The Government is committed to providing a platform for a well regulated, profitable banking industry of high repute in Ireland that operates in a national and international financial services environment. Our vision for the banking sector is that the banks...

Written Answers — Proposed Legislation: Proposed Legislation (18 Feb 2009)

Brian Lenihan Jnr: My proposals on cuts in the levels of fees will be set out in detail in legislation to be published within the next few days.

Written Answers — Pension Provisions: Pension Provisions (18 Feb 2009)

Brian Lenihan Jnr: The estimated full year saving from the application of the pension related deduction across the public service is some €1.35bn. When the proposals were submitted for consideration to the social partners on Monday evening, 2 February, it was explained that tax relief would apply.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Feb 2009)

Brian Lenihan Jnr: The recapitalised banks have committed to increase lending capacity to small to medium enterprises by 10% and to providing an additional 30% capacity for lending to first time buyers in 2009. In order to monitor these commitments, the banks are required to make quarterly reports to the Financial Regulator and the Department of Finance. The first report covering the period to end March 2009...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Feb 2009)

Brian Lenihan Jnr: As the Deputy will be aware the level of impairment of assets in financial institutions has, from the outset, been a key consideration in the assessment of the risks and the appropriate interventions by Government required to address and correct the particular difficulties being faced by financial institutions in Ireland. The Financial Regulator engaged PricewaterhouseCoopers to examine...

Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (18 Feb 2009)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that as a general rule all vehicles imported permanently into the State must register for Vehicle Registration Tax (VRT) purposes within one working day of arrival. This rule applies equally to vehicles imported by EU and non EU persons. In practice, Revenue allows latitude of a maximum of seven days for registration. However, Section 135(a) of the...

Written Answers — National Lottery Funding: National Lottery Funding (18 Feb 2009)

Brian Lenihan Jnr: The Government decides on an annual basis how much funding is to be allocated to subheads which are part-funded by the proceeds of the National Lottery. This occurs in the context of decisions on the Estimates for Public Services for the following year. The proceeds of the National Lottery are treated as an item of non-tax revenue and partly fund such expenditure. Accordingly, no...

Written Answers — Pension Provisions: Pension Provisions (18 Feb 2009)

Brian Lenihan Jnr: I am satisfied that the pension related deduction for the public service is equitable, including for those on middle incomes. The pension related deduction applies generally across the public service, given that public servants enjoy the benefits of a public service pension which provides for greater security and more favourable terms than the generality of private sector pensions. Due to...

Written Answers — Tax Code: Tax Code (18 Feb 2009)

Brian Lenihan Jnr: Rates on commercial properties are already levied by local authorities in accordance with the Valuation Acts. Furthermore, in Budget 2009, I announced the Government's intention to introduce an annual charge of €200 on non principal private residences. This charge will be levied and collected by local authorities, and will be underpinned by legislation to be introduced by the Minister for...