Results 8,621-8,640 of 16,537 for speaker:Brian Lenihan Jnr
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)
Brian Lenihan Jnr: Lending by banks is, in the first instance, a commercial decision for individual financial institutions who will evaluate loan applications submitted by small and medium enterprises (SMEs). Through the introduction of the Bank Guarantee Scheme the Government have sought to maintain an environment where the financial markets can continue to function normally and banks can continue to support...
- 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: review the scope for reducing or discontinuing Expenditure Programmes with a view to eliminating the current budget deficit by 2011; to this end, analyse and make recommendations on reducing the numbers employed in each area of the...
- Written Answers — Tax Code: Tax Code (11 Dec 2008)
Brian Lenihan Jnr: It is assumed that the Deputy is referring to the Judgment of the European Court of Justice in Case C-253/07 â Canterbury Hockey Club and Canterbury Ladies Hockey Club v The Commissioners for H.M. Revenue and Customs. In that case the European Court of Justice considered the scope of the exemption from VAT provided by Article 13A(1)(m) of the EU Sixth VAT Directive, now Article 132(1)(m)...
- Written Answers — Economic Forecasts: Economic Forecasts (11 Dec 2008)
Brian Lenihan Jnr: At the current juncture, there is greater uncertainty than normal attached to any set of forecasts, given the scale of the shocks to which the global and domestic economies have been subjected to. In this context, the Stability Programme Update, published alongside the Budget, highlighted that the Budget day economic forecasts were more uncertain than normal, with risks to the outlook firmly...
- Written Answers — Tax Code: Tax Code (11 Dec 2008)
Brian Lenihan Jnr: In my Budget speech on 14 October, I announced the introduction of a new tax incentive scheme to facilitate the removal and relocation of Seveso-listed industrial facilities which hinder the residential and commercial regeneration of Docklands in urban areas. The EU Seveso Directive seeks to protect public safety by placing land-use restrictions on new residential and commercial development...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 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. To ensure the effective implementation of the Scheme, and to ensure that covered institutions are meeting their obligations under the Scheme, my officials and I are in regular contact with the covered institutions. In addition, the Central...
- Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (11 Dec 2008)
Brian Lenihan Jnr: The National Pensions Reserve Fund, as a large diversified global investor, has invested in over 2,500 stocks globally. As required by the National Pensions Reserve Fund Act 2000, the National Pensions Reserve Fund Commission publishes a detailed list of the assets of the Fund at end-year, including its holdings in banking stocks. The Report, which is available on the Fund's website...
- Written Answers — Tax Code: Tax Code (11 Dec 2008)
Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the most recent year for which the necessary detailed statistical information is available in relation to the Rent-a-Room Scheme is the income tax year 2005. In that year, an estimated 2,820 claimants availed of the tax exemption at an estimated cost to the Exchequer of â¬3.3 million.
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (11 Dec 2008)
Brian Lenihan Jnr: I have no role in relation to payment terms for commercial debt (including credit card debt) which, for the generality is a matter, for the parties concerned. While the overall level of debt on credit cards has been rising, the pace at which it has been growing has declined significantly. From a high of almost 20% year on year growth in March 2007, the equivalent data for outstanding...
- Written Answers — Pension Provisions: Pension Provisions (11 Dec 2008)
Brian Lenihan Jnr: Under the Pensions Act 1990 the Pensions Board reports to the Minister for Social and Family Affairs â rather than the Minister for Finance â on all matters relating to the functions assigned to the Board under that Act and on matters relating to pensions generally. I have not met with the Pensions Board but my Department has regular contact with the Executive of the Board on a range of...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)
Brian Lenihan Jnr: As outlined in my statement of 28 November, I have asked the covered banks to examine their options to attract or raise private capital to underpin their long term sustainability and support their lending to the economy. I am not promoting or supporting any particular proposal nor would it be appropriate for me to do so. I have however asked all the covered institutions to engage actively...
- Written Answers — Tax Code: Tax Code (11 Dec 2008)
Brian Lenihan Jnr: As the Deputy may be aware, I have made a number of changes to the capital gains tax code in my recent Budget and Finance Bill (as initiated). These include changes to the payment dates in respect of disposals made on or after 14 October 2008 and also an increase in the rate of capital gains tax from 20% to 22%. I have no plans at this time to make further changes to the capital gains tax code.
- Written Answers — Live Register: Live Register (11 Dec 2008)
Brian Lenihan Jnr: The latest Live Register figures relate to November 2008, when the number of people on the Register reached 277,200 on a seasonally-adjusted basis. This represents an annual increase of 106,800. This corresponds to a standardised unemployment rate of 7.8%. Both the scale and the speed of the deterioration point to the continued difficult economic conditions pertaining. The latest Quarterly...
- 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:â 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 — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)
Brian Lenihan Jnr: The Scheme is a major benefit not only to the banks but also to their customers and, of course, the economy as a whole. Of course, the Scheme includes the application of strict terms and conditions on covered institutions to ensure that the public interest, which includes the taxpayer, the general consumer and small business sector, is paramount. As I have stated previously, the cost of...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)
Brian Lenihan Jnr: The Guarantee Scheme for financial institutions put in place by the Government has been successful in safeguarding the stability of the Irish banking sector and in restoring its liquidity position in order to support its normal lending activities. The Scheme is intended to provide a detailed framework for the positive and constructive changes that must flow from this to restore and uphold...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 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 — Economic Competitiveness: Economic Competitiveness (11 Dec 2008)
Brian Lenihan Jnr: 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 rate in Ireland or to reduce the rate to the UK level of 15%. It must be recognised that our starting point is different from the UK's. We already...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (11 Dec 2008)
Brian Lenihan Jnr: In my discussions with the covered institutions I have asked all the banks to examine their options to attract or raise private capital to underpin their long term sustainability and support their lending to the economy. I am not promoting or supporting any particular proposal nor would it be appropriate for me to do so. I have however asked all the covered institutions to engage actively...
- Written Answers — Tax Code: Tax Code (11 Dec 2008)
Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the value and the amounts of goods that a person travelling to Ireland from outside the EU may bring into the country free of VAT and excise duties are governed by the European Communities (Tax Exemption for Certain Non-Commercial Goods Imported in the Personal Luggage of Travellers from Third Countries) Regulations 2008 (S.I. No. 480 of 2008)...