Results 8,961-8,980 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Legal Costs: Legal Costs (6 Nov 2008)

Brian Lenihan Jnr: The following table sets out expenditure in 2007 and to date in 2008 on contracts for legal services by my department and the related offices. Name of Office/Agency 2007 2008 (YTD) €,000 €,000 The Department of Finance 394 230 Valuation Office 20 54 Comptroller & Auditor General 43 13 Commission for Public Service Appointments 130 65 State Laboratory — 103 Public Appointments...

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

Brian Lenihan Jnr: The Deputy will be aware that in matters relating to the VAT rating of goods and services, I am constrained by the requirements of EU VAT law with which Irish VAT law must comply. In relation to the VAT rate that applies to defibrillators, the position is that under the VAT Directive, Member States may retain the zero rates on goods and services which were in place on 1 January 1991, but...

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

Brian Lenihan Jnr: As I stated in my Budget speech, there is a need for commercial development and investment if we are to create jobs and stimulate economic activity. I also said that this change was being introduced as the Government's contribution towards providing an impetus to the commercial property market. The impact of the change cannot be specifically quantified at this point, as it depends on overall...

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

Brian Lenihan Jnr: The Credit Institutions (Financial Support) Scheme provides a guarantee for covered institutions until 29 September 2010. The scheme places a strict obligation on every covered institution to reimburse the Minister immediately for any payment made under the Guarantee in respect of that particular covered institution's liabilities. The scheme also includes the principle that any payment not...

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

Brian Lenihan Jnr: In Budget 2009, I announced a significant reduction in the annual earnings limit for tax relieved pension contributions from just over €275,000 to €150,000. This reduced limit will apply for 2009 to all individuals contributing to private pension arrangements. The annual earnings cap acts, in conjunction with age-related percentage limits, to determine the value of pension contributions...

Written Answers — Debt Levels: Debt Levels (6 Nov 2008)

Brian Lenihan Jnr: My Department has been informed by the NTMA that the national debt is forecast as follows: Year end 2008 2009 2010 National Debt (€m) 49,260 62,872 74,309 National Debt as % GNP 31.2% 39.7% 45.2%

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

Brian Lenihan Jnr: The main purpose of the scheme is the provision of a guarantee to certain liabilities of covered institutions for a two year period in the interests of financial stability. The health of our financial institutions is linked to our economy as a whole. The scheme therefore includes the application of strict terms and conditions on covered institutions to ensure that the public interest, which...

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

Brian Lenihan Jnr: I assume the Deputy is referring to a recent media report on the Opinion of the European Central Bank of 15 October 2008 on a draft Credit Institutions (Financial Support) Scheme. I would like to point out that the opinion of the ECB, which is published on the ECB website, was given in response to a request received from me on 10 October 2008. It would be utterly wrong to interpret the points...

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

Brian Lenihan Jnr: The detailed provisions of the car parking levy are currently being finalised and will be included in the Finance (No. 2) Bill 2008, which will be published on 20th November next.

Written Answers — Customs Service: Customs Service (6 Nov 2008)

Brian Lenihan Jnr: Revenue's Customs Service has primary responsibility for the prevention, detection, interception and seizure of controlled drugs at importation. This Service has particular responsibility for implementing import and export controls at all points of entry/exit to/from Ireland, including ports, airports and the land frontier with Northern Ireland. I am advised by the Revenue Commissioners...

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

Brian Lenihan Jnr: When I introduced the Credit Institutions (Financial Support) Legislation to this House, I made it clear that the disruption in international financial markets required a strong and decisive response by the Government to underpin the commitment of the authorities to Ireland's financial stability. This Government moved swiftly to put in place a guarantee to ensure Irish financial...

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

Brian Lenihan Jnr: The Credit Institutions (Financial Support) Scheme provides a guarantee for covered institutions until 29 September 2010. Participation in the scheme is open to all eligible credit institutions and it is a matter for each institution to make its own decision on whether or not it wishes to join the scheme. In the process of establishing the scheme, there has been regular contact between my...

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

Brian Lenihan Jnr: The position is that the income levy will be applied to gross income except social welfare payments and contributory and non-contributory social welfare pensions. It is also proposed to exempt those on low incomes from the income levy. Full details on the levy will be set out in the forthcoming Finance Bill. In relation to information requested by the Deputy, I am informed by the Revenue...

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

Brian Lenihan Jnr: The guarantee has been introduced to remedy a very serious situation in relation to the financial institutions, for the benefit of the economy as a whole. The charge for the provision of the guarantee is derived from the Government funding cost. While it would be possible in theory to estimate a market value for the guarantee, such an estimate would be based on a number of important...

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

Brian Lenihan Jnr: I have regular contact with the Financial Regulator as circumstances require. In addition I am kept closely in touch with developments through ongoing dialogue at official level.

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

Brian Lenihan Jnr: The Financial Regulator has informed me that there was a large response to its recent advertisement for additional staff. It is currently reviewing the applications submitted and expects to be holding interviews in the next few weeks with initial placements occurring shortly after that depending on any notice period staff may have to provide to their current employer. In the meantime, staff...

Written Answers — Exchequer Borrowing: Exchequer Borrowing (6 Nov 2008)

Brian Lenihan Jnr: The projections for the years 2008, 2009 and 2010 for the Exchequer Balance and the General Government Balance, the latter being the relevant measure in the context of the Stability and Growth Pact, are detailed in Table 1 "Summary of Current and Capital Budgets 2008 to 2011" in the Budget 2009 publication and are as follows: 2008 Post-Budget 2009 Projection Forecast 2010 Projection €m...

Written Answers — Supplementary Budget: Supplementary Budget (6 Nov 2008)

Brian Lenihan Jnr: I propose to take Questions Nos. 66, 108, 111 and 114 together. Budget 2009 was presented to the Dáil on 14 October last. The Budget sets out a medium-term strategy with the clear intention of stabilising and restoring balance to the public finances as soon as possible by, amongst other things, reducing and prioritising public expenditure and adjusting taxation levels to reflect the changed...

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

Brian Lenihan Jnr: I have regular contact with the representatives of the financial sector — both domestic and international banks. In addition, I am kept closely in touch with developments through ongoing dialogue at official level. I do not believe it would be helpful to discuss individual meetings or correspondence. I am sure that the Deputy will recognise the strong potential for misinterpretation and...

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

Brian Lenihan Jnr: I propose to take Questions Nos. 68 and 101 together. In my Budget speech, I announced that the current single payment date for preliminary corporation tax for large companies (those whose corporation tax liability in their previous accounting period is more than €200,000) will be split into two instalments. This will apply to accounting periods commencing on or after Budget Day, 14...