Results 8,481-8,500 of 16,537 for speaker:Brian Lenihan Jnr
- Written Answers — Public Private Partnerships: Public Private Partnerships (17 Dec 2008)
Brian Lenihan Jnr: The Deputy will be aware that my Department has put in place the overall PPP investment framework, including the framework for the appraisal, assessment, procurement and evaluation of projects. Individual Departments are responsible for the projects and programme in their areas, within that overall framework. The extent to which current market developments affect PPPs is a matter for each...
- Written Answers — Air Services: Air Services (17 Dec 2008)
Brian Lenihan Jnr: The Deputy will understand that there are constraints on any comments I can make about this matter at this stage because of the strict rules of disclosure which apply under the Irish Takeover Panel takeover code. I can say that Ryanair released its formal offer document on 15 December and, as the Deputy is aware from recent comments from the Minister for Transport, the Government will...
- Written Answers — Fiscal Policy: Fiscal Policy (17 Dec 2008)
Brian Lenihan Jnr: The National Treasury Management Agency have advised me that the current aversion to risk in global markets has led to an increase in the cost of insuring exposure to all counterparties, and the associated increase in credit spreads has more to do with the general sentiment in the credit markets than the financial position of individual issuers. Irish government debt has not been immune to...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Dec 2008)
Brian Lenihan Jnr: The thinking behind the Charging Model is set out in some detail in the Annexe to the Scheme. However, the main principle is that the Minister for Finance estimates an aggregate cost that the State will bear as a consequence of the guarantee and each covered institution will pay its share in accordance with its risk profile and the guarantee charging model, subject to the estimated cost to...
- Written Answers — Tax Code: Tax Code (17 Dec 2008)
Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the relevant information available on the cost to the Exchequer of income tax relief for individual investors in private housing is based on personal income tax returns filed by non-PAYE taxpayers for the years 2003 to 2006 inclusive, the latest year for which this information is available, indicating the amount of interest on borrowings claimed...
- Written Answers — Tax Code: Tax Code (17 Dec 2008)
Brian Lenihan Jnr: I am informed by the Revenue Commissioners that, prior to 31 December 2005, a non-domiciled individual could avail of the remittance basis of taxation in respect of the income from a non-Irish sourced employment. This applied, not only to non-domiciled business executives, but to all non-domiciled individuals working in the State. As the Deputy is aware, that type of remittance basis gave...
- Written Answers — Tax Code: Tax Code (17 Dec 2008)
Brian Lenihan Jnr: I am advised by the Revenue Commissioners that, in common with any trader engaged in taxable activities, property developers engaged in the building and selling of houses are entitled to deduct VAT incurred on their input costs. The position regarding property developers who, having deducted VAT incurred on the development of residential property, subsequently rent rather than sell completed...
- Written Answers — Financial Services Regulation: Financial Services Regulation (17 Dec 2008)
Brian Lenihan Jnr: In my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The day-to-day responsibility for the supervision of financial institutions is a matter for the Financial Regulator, which is statutorily independent in the exercise of its regulatory functions. The Financial Regulator is also obliged to treat as confidential...
- Written Answers — Financial Services Regulation: Financial Services Regulation (17 Dec 2008)
Brian Lenihan Jnr: A person is required to make a notification to the issuer and to the Irish Stock Exchange where their shareholding in that issuer, which is admitted to trading on a regulated market, reaches or passes certain percentage thresholds, expressed as a percentage of total voting rights in the capital of the issuer. The relevant threshold for Irish issuers is 3% and each 1% thereafter up to 100%....
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Dec 2008)
Brian Lenihan Jnr: The Government's Guarantee Scheme has been successful in safeguarding the stability of the Irish banking sector and in restoring its liquidity position. However, international capital market expectations in relation to capital levels in the banking sector have altered. In my statement on 28 November, I indicated that it would be appropriate for the State in certain circumstances, through...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Dec 2008)
Brian Lenihan Jnr: I have had no formal requests from any of the covered institutions to extend the Guarantee Scheme. However, I have been asked, in various discussions, as to the Government's intentions in this regard. The Guarantee Scheme is less than three months old and will run for two years. The operation of the Scheme will be kept under constant review.
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (17 Dec 2008)
Brian Lenihan Jnr: The Financial Regulator recently received reports, prepared by Price Waterhouse Coopers, on the financial and capital position of the institutions receiving support under the Credit Institutions (Financial Support) Scheme. These reports indicated that the capital position of each of the institutions reviewed was in excess of regulatory requirements as at 30 September 2008 and also concluded...
- Written Answers — Departmental Staff: Departmental Staff (17 Dec 2008)
Brian Lenihan Jnr: As indicated in PQ reply of 23 October 2008 (No.84) to Deputy Leo Varadker, the estimated cost of increments awarded to staff in my Department in 2008 was â¬227,000, and is expected to be of the order of â¬171,000 in 2009. These amounts do not include the cost of long service increments which are only payable after satisfactory service of 3 and 6 years at the highest points on incremental...
- Written Answers — Decentralisation Programme: Decentralisation Programme (17 Dec 2008)
Brian Lenihan Jnr: The following is the information requested by the Deputy in tabular form for my Department and the bodies under the aegis of my Department. Department of Finance Location Number Decentralised to date Total who will have decentralised by end 2009 Relocated from Dublin Relocated from elsewhere Tullamore 128* 130 90 24 Kildare 0 Approx 30** n/a n/a *Includes 14 staff recruited for...
- Written Answers — Departmental Staff: Departmental Staff (17 Dec 2008)
Brian Lenihan Jnr: The number of people currently working in my Department is 655. The following is the number of people in each salary band: Salary band No. in band Breakdown by grade Under â¬50,000 302 10 Asst Principal level â¬50,001 â â¬60,000 84 1 Principal level â¬60,001 â â¬70,000 37 1 Principal level â¬70,001 â â¬80,000 30 30 Principal level â¬80,001 â â¬90,000 88 4 Principal...
- Written Answers — Departmental Staff: Departmental Staff (17 Dec 2008)
Brian Lenihan Jnr: The following tables list the information requested by the Deputy in respect of my Department and agencies under the aegis of my Department. Department of Finance Year Number of Staff (full-time equivalents) 31/12/2002 622.52 31/12/2003 600.81 31/12/2004 587.39 31/12/2005 587.09 31/12/2006 622.43 31/12/2007 628.70 30/11/2008 613.91 Revenue Commissioners Year Staff Numbers (Full...
- Written Answers — Departmental Staff: Departmental Staff (17 Dec 2008)
Brian Lenihan Jnr: The following tables list the information requested by the Deputy in respect of my Department and agencies under the aegis of my Department. Department of Finance My Department currently has offices in Dublin and Tullamore, details as follows: Grade Dublin Tullamore Total Secretary General 1.00 1.00 Secretary General PSMD 1.00 1.00 Second Secretary 3.00 3.00 Assistant Secretary...
- Written Answers — Departmental Agencies: Departmental Agencies (17 Dec 2008)
Brian Lenihan Jnr: In response to the Deputy's question, there are no organisations or agencies under the remit of my Department which have been amalgamated or eliminated due to recent budgetary measures.
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (17 Dec 2008)
Brian Lenihan Jnr: Section 262 of the Taxes Consolidation Act 1997 already provides that a financial institution must, following a depositor's request, provide a statement to the depositor showing the gross amount of any relevant interest paid or credited to the depositor, the DIRT deducted, the net payment and the date of that payment. I have no plans to amend this legislative provision at this time. Section...
- Written Answers — Programmes for Government: Programmes for Government (17 Dec 2008)
Brian Lenihan Jnr: As a result of the very different international economic environment that we now face, it is clear that the short term prospects for economic activity are considerably less favourable than that envisaged when the Programme for Government was set out. We now face a position where tax revenues are back to 2005 levels while spending by 2009 is estimated to have increased by 35%. Clearly we have...