Results 8,581-8,600 of 16,537 for speaker:Brian Lenihan Jnr

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: The majority of persons who are 70 years of age or more——

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: This is the biggest single expense——

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: Assuming that such people are insured, this is the biggest expense they face. The majority of persons who are 70 years of age or more have no liability at the higher rate and many are exempt from tax altogether. I am informed by the Revenue Commissioners that approximately 90% of all income earners over 70 do not have a liability at the higher rate and, therefore, would not be in a position...

Finance (No. 2) Bill 2008: Report and Final Stages (16 Dec 2008)

Brian Lenihan Jnr: As for Deputy Burton's point, higher rate relief is of no benefit to standard rate taxpayers who seek IVF treatment and the reintroduction of higher rate relief is not the answer in this respect. The Government must examine whether a scheme that will help both higher and standard rate taxpayers in the same way is feasible. An expenditure-based scheme would be required, were this to be...

Finance (No. 2) Bill 2008: Order for Report Stage (16 Dec 2008)

Brian Lenihan Jnr: I move: "That Report Stage be taken now."

Written Answers — Departmental Agencies: Departmental Agencies (11 Dec 2008)

Brian Lenihan Jnr: In my Budget Statement on 14 October last, I announced that the Government had decided to implement 30 rationalisation decisions spread across 11 Government Departments. The details of the rationalisations, which will result in a reduction of some 41 bodies, were set out in Annex D of the Summary Budget Measures. Implementation of these rationalisation decisions, which are a matter for the...

Written Answers — House Repossessions: House Repossessions (11 Dec 2008)

Brian Lenihan Jnr: I have no plans to introduce such a scheme. As the Taoiseach said in the House earlier this week, the Government has been pro-active in seeking to safeguard the interests of households that experience difficulties in meeting their mortgage payments owing to circumstances beyond their control. A particular priority is to ensure as much as possible that difficulties in relation to mortgage...

Written Answers — Foreign Direct Investment: Foreign Direct Investment (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 11 and 41 together. I understand that President-elect Obama is at present concentrating on the appointment of his Cabinet and that it will be some time before we have a firm idea of the make up of the specific policy teams in the various Government Departments. In the circumstances I think the Deputies will appreciate that it is too early to be seeking...

Written Answers — Tax Yield: Tax Yield (11 Dec 2008)

Brian Lenihan Jnr: The Budget increase of 0.5% in the standard VAT rate is estimated to yield the Exchequer €208 million in 2009 and €227 million in a full year. As part of a fiscal stimulus package, the UK Government reduced their standard VAT rate from 17.5% to 15% on a temporary basis with effect from 1 December 2008 to 31 December 2009. I have no plans to make a similar reduction in the standard VAT...

Written Answers — Public Service Review: Public Service Review (11 Dec 2008)

Brian Lenihan Jnr: I refer the Deputy to the Government Statement on Transforming Public Services of 26 November 2008 which stated that the objectives of the Special Group are to:— a. Review the scope for reducing or discontinuing Expenditure Programmes with a view to eliminating the current budget deficit by 2011. b. To this end, analyse and make recommendations on reducing the numbers employed in each area...

Written Answers — Capital Projects: Capital Projects (11 Dec 2008)

Brian Lenihan Jnr: The Central Expenditure Evaluation Unit (CEEU) in my Department has undertaken a substantial programme of direct spot checks of individual capital projects encompassing over 20 projects across six different Departments — Transport; Environment, Heritage and Local Government; Education and Science; Health and Children; Enterprise, Trade and Employment; and Arts, Sport and Tourism. On...

Written Answers — House Repossessions: House Repossessions (11 Dec 2008)

Brian Lenihan Jnr: I refer the Deputy to my answer to Dail Question No. 10 (Ref: 45358/08) of 11th December 2008. I would add that for 2007 as a whole, the total number of houses repossessed by mainstream lenders in Ireland was of the order of 50. My Department understands that the number of repossessions in 2008 to date is in line with this trend. The Deputy may wish to note that the level of repossessions in...

Written Answers — Economic Forecasts: Economic Forecasts (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 16 and 34 together. As I indicated in my response to an earlier question, the Budget forecasts were that the economy would contract by 1 per cent in 2009. Forecasts produced at the time by the ESRI and by the Central Bank set out a similar economic assessment. Reflecting the unprecedented recent economic developments since then, by end-November the consensus...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)

Brian Lenihan Jnr: Nobody wants a situation where viable businesses fail because banks will not lend them money. At my meetings with certain financial institutions over the last two weeks, I asked those institutions covered by the Government's guarantee Scheme to consider the contribution that they can make to the economy through appropriate credit initiatives in relation to small and medium sized businesses...

Written Answers — EU Recovery Plan: EU Recovery Plan (11 Dec 2008)

Brian Lenihan Jnr: I welcome the Commission's Plan as an important signal to EU consumers and business that Member States and the Commission are working together to help boost demand and to support business in these difficult times. The Plan recognises, however, that not all Member States are in the same position to help by a further fiscal stimulus but it also says that for those that have such scope they...

Written Answers — Departmental Programmes: Departmental Programmes (11 Dec 2008)

Brian Lenihan Jnr: Since the publication of the report referred to, the following measures have been taken by my Department: Firstly, as recommended by the Reach Review, the functions of Reach and the Public Service Broker were transferred to my Department in April, following which the recommendations of the Review regarding simplification and the use of off-the-shelf software were implemented. Secondly, early...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (11 Dec 2008)

Brian Lenihan Jnr: At the outset, I would point out to the Deputy that the Government has taken steps last October under Section 19 of the Markets in Financial Instruments and Miscellaneous Provisions Act, 2007, which amended Part V of the Central Bank Act, 1997, to provide for an appropriate system of authorisation and supervision by the Financial Regulator of retail credit firms engaged in specialist or...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)

Brian Lenihan Jnr: The terms and conditions of the Scheme include paragraph 26 of the Scheme, which states "Each covered institution shall, at such frequency as the Minister shall determine, confirm in writing to the Minister its compliance with the Irish Banking Federation Code of Practice on Mortgage Arrears and the Consumer Protection Code issued by the Regulatory Authority." Moreover, the Scheme requires...

Written Answers — Fiscal Policy: Fiscal Policy (11 Dec 2008)

Brian Lenihan Jnr: The NTMA have advised me that their annual net funding requirement is determined by the level of the Exchequer Balance and the amount of maturities of existing loans. Based on Budget 2009 projections, the NTMA has advised the market of its funding plans for 2009 which includes a €5 billion bond repayment in April 2009. As such a gross debt issuance requirement of €18.4 billion next year...

Written Answers — Decentralisation Programme: Decentralisation Programme (11 Dec 2008)

Brian Lenihan Jnr: As I announced in the Budget, the Government has reviewed the Decentralisation Programme in light of the changed economic circumstances and identified priority elements on which implementation should proceed at this time. The Government's decision will result in the relocation of approximately 6,000 posts to over 40 locations outside of Dublin in the current phase of the programme. This is...