Results 8,921-8,940 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — International Monetary Fund: International Monetary Fund (11 Nov 2008)

Brian Lenihan Jnr: The IMF has developed various loan instruments, or "facilities," that are tailored to address the specific circumstances of its membership. The bulk of IMF lending is to provide loans to countries experiencing balance of payments problems. This financial assistance enables countries to rebuild their international reserves; stabilise their currencies; continue paying for imports; and restore...

Written Answers — Computerisation Programme: Computerisation Programme (11 Nov 2008)

Brian Lenihan Jnr: The public procurement rules do not specify the number of copies of tender documents to be submitted but they do permit contracting authorities to require the submission of tenders solely by electronic means. The national public procurement website www.etenders.gov.ie, known as ''etenders" and provided by the National Public Procurement Policy Unit of the Department of Finance, has a facility...

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

Brian Lenihan Jnr: As the Deputy will be aware, in welcoming the European Central Bank's announcement on 6 November 2008 of a 0.5% reduction in its key interest rates, I highlighted that I would expect financial institutions to pass on these reductions to their customers including in particular to those purchasing properties on variable mortgages but also to small and medium-sized enterprises. This will help...

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

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the tax take on the listed products for the years 2005, 2006 and 2007 are as shown in the following table. The prices quoted are taken from the National Average Price Surveys as published by the Central Statistics Office except the prices for a Bottle of Stout where indicative prices are shown for your information. 2005 Price Excise Content...

Written Answers — Departmental Transport: Departmental Transport (11 Nov 2008)

Brian Lenihan Jnr: Since my appointment as Minister for Finance on the 7th May 2008, I have not used public transport while on official business.

Written Answers — Departmental Transport: Departmental Transport (11 Nov 2008)

Brian Lenihan Jnr: In 2007 and to date in 2008 approximately €42,000 has been spent by officials of my Department on rail and bus travel while on official travel both at home and abroad.

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The Credit Institutions (Financial Support) Scheme 2008 applies comprehensive control, monitoring and information provisions to the credit institutions covered by the scheme which will ensure enhanced coordination and close working between the Central Bank, the Regulatory Authority and my Department so as to ensure the realisation of the Scheme's objectives. This enhanced cooperation...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: As the Deputy will be aware, we have put in place a wide guarantee for the banking system in Ireland. The legislative scheme setting out the terms and conditions for the guarantee to support the long-term viability of the banking system in Ireland and safeguard the interest of taxpayers has been approved by both Houses of the Oireachtas. It has also been approved as being in compliance with...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: As Minister for Finance it would not be appropriate for me to comment on the performance or financial position of an individual credit institution. The Financial Regulator is responsible for the prudential supervision of credit institutions and is therefore best placed to access and analyse information regarding an institution's financial position. The Financial Regulator has advised the...

Written Answers — Public Service Pay: Public Service Pay (6 Nov 2008)

Brian Lenihan Jnr: I am keeping the public service paybill under continuous review and I have already taken steps to contain its growth. The draft pay agreement "Review and Transitional Agreement 2008-2009" provides for a pay pause of 11 months in the public service. The private sector pay pause provided for is to last for three months. Furthermore, public service employers are required to achieve a 3% cut...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The Scheme prepared under the Credit Institutions (Financial Support) Act 2008 requires each covered institution to prepare a plan to structure the remuneration packages of directors and executives, including total salary, bonuses, pension payments and any other benefits, so as to take account of the objectives of the Act. I will shortly establish the independent, three-member, committee, to...

Written Answers — Economic Competitiveness: Economic Competitiveness (6 Nov 2008)

Brian Lenihan Jnr: The deterioration in the economy's competitiveness relative to that of our main trading partners has been driven by a combination of factors. These include a strong euro, the global rise in commodity prices and wage increases in excess of productivity. The relatively high rate of inflation that we have experienced over the last number of years has also played a role. At this stage, price...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The consolidated dated subordinated debt figure in respect of the first group of banks and building societies to participate in the Credit Institutions (Financial Support) Scheme amounts to €12.4 billion. Details for each individual institution are available in their published financial statements. I do not have a list of the holders of such debt, which means that I cannot comment as to...

Written Answers — Budgetary Projections: Budgetary Projections (6 Nov 2008)

Brian Lenihan Jnr: The Budget day forecasts are for GDP to decline by 11⁄4 per cent this year, with GNP forecast to contract by 11⁄2 per cent. In terms of next year, GDP is forecast to decline by 3⁄4 per cent, while GNP is projected to decline by 1 per cent. The Budget day forecasts have not changed. In preparing these forecasts my Department considered the growth prospects in several of our major...

Written Answers — Pension Provisions: Pension Provisions (6 Nov 2008)

Brian Lenihan Jnr: Total expenditure on public service pensions in 2007 was of the order of €2.3bn and the most recent projections carried out by the Department of Finance are for expenditure on public service pensions to increase from around 1.3% of GDP in 2007 to 2.1% in 2025 and to 2.6% by 2050. The projected increase arises from the growth in public service employment in recent years and from increasing...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (6 Nov 2008)

Brian Lenihan Jnr: The written notification to six named financial institutions of the provision by the Government of a guarantee to their deposits and funding, which I referred to as a letter in the course of the debate on the Credit Institutions (Financial Support) Scheme 2008, was published by me on the morning of 30 September and is publicly available on my Department's website. On the 9th of October, I...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Nov 2008)

Brian Lenihan Jnr: The Central Bank Act, 1942 as amended provides the Financial Regulator with the power to administer sanctions in respect of prescribed contraventions by regulated financial service providers and persons concerned in the management of regulated financial service providers. The Financial Regulator is the competent independent statutory authority in the State for the supervision of compliance...

Written Answers — Tax Code: Tax Code (6 Nov 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 22 and 38 together. My Department and I are of course always mindful of any international developments that could potentially impact on foreign direct investment here. In that respect there is continuous liaison with the business community through domestic and overseas channels to monitor any potential changes. In terms of the United States of America, I am...

Written Answers — Public Service Modernisation: Public Service Modernisation (6 Nov 2008)

Brian Lenihan Jnr: Towards 2016 is a ten year framework agreement which sets out an agenda for the further modernisation of the Public Service. It commits the parties to the Agreement to continued co-operation with change and modernisation initiatives, as well as improved productivity across the Public Service. In approaching the recent Partnership talks the Government recognised that while significant...

Written Answers — Budgetary Projections: Budgetary Projections (6 Nov 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 24 and 105 together. The budgetary forecasts by my Department in Budget 2009 were based on the best information available at the time. For 2009 the Budget forecast a General Government Balance of -61⁄2% of GDP based on tax revenue growth of 1% and gross voted expenditure growth of 1.8%. Since Budget Day my Department has published the October Exchequer...