Results 8,601-8,620 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Public Sector Staff: Public Sector Staff (11 Dec 2008)

Brian Lenihan Jnr: On 26 November 2008 the Government published the Report of the Task Force on the Public Service, Transforming Public Services, along with a major policy statement which sets out how the recommendations of the Task Force will be implemented. The Government statement recognises the need to be able to redeploy people in one part of the Public Service from activities which are no longer...

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

Brian Lenihan Jnr: Apart from the increase in the rate of the tax credit from 20% to 25 %, which I announced in my Budget Statement, the Finance Bill includes a number of other very significant changes to the R&D tax credit scheme including: an option to carry-back unused tax credits for set-off against the previous year's corporate tax liability, thus generating a tax repayment; a further option, where there...

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

Brian Lenihan Jnr: I propose to take Questions Nos. 27, 54 and 69 together. In the period since the Budget was presented to this House, the economic environment has become considerably more difficult. Many of our trading partners have entered recession and projections for demand in our key export markets have been revised downwards significantly. To put this into perspective, the IMF now expects economic...

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

Brian Lenihan Jnr: I propose to take Questions Nos. 28 and 71 together. In common with virtually all the world's advanced economies, Ireland is facing substantial economic and fiscal challenges in the immediate future. Ireland, however, is particularly badly affected and our scope to have a further fiscal stimulus on top of what we are already doing is extremely limited. Our first priority must be to stabilise...

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

Brian Lenihan Jnr: It is proposed that the new public procurement unit to be based in the Office of Public Works will (i) oversee procurement on the part of central Government Departments and Offices, agencies and non-commercial State bodies so that they can acquire a range of goods and services more effectively, efficiently and with better value for money; (ii) provide professional procurement advice across...

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

Brian Lenihan Jnr: I propose to take Questions Nos. 30, 40 and 45 together. I announced in Budget 2009 that an air travel tax will come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of €10 per passenger will apply, with a lower rate of €2 for shorter journeys. The Finance Bill confirms the introduction of an air travel tax from 30 March 2009....

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

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that investigations carried out under the various legacy enquiries revealed the use of offshore trusts in the settlement of funds by Irish residents on non-resident trustees. The existence of such trusts came to light in the probing and examination of financial records and transmission of funds in individual cases. These investigations highlighted the...

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

Brian Lenihan Jnr: No specific provision has been made for the cost of the first phase (3.5%) of the new agreement: Towards 2016 — Review and Transitional Agreement 2008-09, scheduled for 1st September 2009. The cost arising would have to be found from within existing allocations. There is also a pay contingency amount of €40m provided for in 2009. No additional provision has been made for increments for...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (11 Dec 2008)

Brian Lenihan Jnr: I announced in my Budget speech that I was conducting a review of the National Pensions Reserve Fund in the context of recent economic and fiscal developments. I asked Mr Maurice O'Connell, former Governor of the Central Bank, to conduct the review. Mr O'Connell has now submitted his review to me and I am considering his conclusions. As I stated in my Budget speech, any changes requiring...

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

Brian Lenihan Jnr: The levy will apply where employers provide parking facilities for employees in the urban centres of Cork, Dublin, Galway, Limerick and Waterford. The specific areas to which the levy will apply and the date from which the levy will apply will be designated by me by way of Order. This will be done after appropriate consultation has been carried out. I can, however, confirm at this stage that,...

Written Answers — State Borrowing: State Borrowing (11 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 (11 Dec 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 39, 59 and 78 together. 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 28th November, I indicated that it would be...

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

Brian Lenihan Jnr: The Credit Institutions (Financial Support) Scheme provides that each covered institution shall pay a charge to the Exchequer for the guarantee provided under the Scheme. The charge for the provision of the guarantee is structured to cover the Government funding cost, which is regarded as the closest measure possible to what could be considered an appropriate price in the current financial...

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

Brian Lenihan Jnr: In relation to the general question of small and medium enterprises (SMEs) being able to access finance, I am very conscious of the difficulties that are being faced by Irish businesses in this regard. 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...

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

Brian Lenihan Jnr: An important aim of the Bank Guarantee Scheme is to ensure that we have a banking system that as a whole works effectively, efficiently and competitively in facilitating all the day-to-day ordinary economic transactions of commercial, business, family and social life. At a round of meetings with the banks covered by the guarantee scheme on 28 November I asked them to come back to me with...

Written Answers — Public Private Partnerships: Public Private Partnerships (11 Dec 2008)

Brian Lenihan Jnr: The general tightening of credit markets has implications for all privately funded projects, including PPPs. These include an increase in the cost of private finance, changes to the terms and conditions of finance deals and a reduction in the number of lenders in the infrastructure market. These challenges have to date required more detailed contract negotiation. It is still too early to...

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

Brian Lenihan Jnr: I am presuming the Deputy is referring to the parking levy. The specific areas to which the levy will apply will be designated by me by way of Order. This will be done after appropriate consultation has been carried out. I can, however, confirm at this stage that, in accordance with the terms of the legislation, the levy will apply only to areas which are within the administrative areas of...

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

Brian Lenihan Jnr: In terms of the operation of performance related award (PRA) schemes in non commercial State Bodies, the role of the Minister and Department of Finance is to approve the introduction of such schemes where the relevant Board and parent Department are of the view that the remit of the State body in question is such as can meet the principles laid down by the Review Body on Higher Remuneration...

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

Brian Lenihan Jnr: The position is that health expenses relief will be granted at the standard rate only in respect of expenses incurred from 1 January 2009 with the exception of nursing home expenses which will continue to be granted at the marginal rate. Issues relating to financial support for health care are a matter in the first instance for the Minister for Health and Children.

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

Brian Lenihan Jnr: The Budget introduced a general package of revenue-raising measures to fund key public services, one measure of which was increasing the standard VAT rate by 0.5% to 21.5% from 1 December 2008. The VAT increase is estimated to yield the Exchequer €208 million in 2009 and €227 million in a full year. With regard to assessing the impact of the VAT increase in consumer spending, consumer...