Results 10,801-10,820 of 19,445 for speaker:Brian Cowen

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: As outlined in Annex D to the Summary of 2008 Budget Measures, the revised VRT system to take greater account of CO2 emissions is being introduced on a broadly revenue neutral basis. It is being introduced as an environmental measure and not to increase the revenue yield from the purchase of cars. Neither, of course, is the VRT revision meant to result in a loss in revenue from VRT, all...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: The 2008 expenditure allocation for the Exchequer social welfare Jobseekers Allowance scheme is almost €1,020 million. I am aware of the recent upward pressure on the Live Register and this will, depending on developments over the remainder of the year, have implications for expenditure on this scheme. However, Jobseekers Allowance is only one of a number of demand led schemes that are...

Written Answers — Appointments to State Boards: Appointments to State Boards (24 Apr 2008)

Brian Cowen: The arrangements for appointments to the boards of State bodies are normally set out in the legislation establishing the bodies in question and are designed to ensure the efficient management of the organisation. Appointments to the boards are generally made by the Minister with responsibility for the body in question, subject to the consent of the Minister for Finance. In making...

Written Answers — Programmes for Government: Programmes for Government (24 Apr 2008)

Brian Cowen: As I have indicated in previous responses, the Programme for Government is a five year programme in which a number of guiding principles in relation to economic and budgetary matters have been set out. As the Deputy is aware, the first instalment of the delivery of this five year Programme for Government — Budget 2008 — was published in December. Budget 2008 announced all new spending...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 25 and 76 together. The Programme for Government sets out a commitment to reduce the standard rate of income tax to 18 per cent and the top rate of income tax to 40 per cent over the lifetime of the Government, provided economic resources allow. It is clear that we have now entered a period of lower economic growth than was generally envisaged in the early...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: The OECD report contained a generally positive assessment of the Irish economy. While recognising the challenges facing Ireland in the period ahead, the report acknowledges the remarkable performance of the Irish economy over the past decade. Of particular note is that the OECD report states that the economic fundamentals — including a skilled workforce, a flexible labour market, moderate...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: At Budget time, an economic growth rate of 3.0 per cent in GDP terms was forecast. However, a number of risks to the economic forecasts were identified, including the possibility of a sharper slowdown in the US, the possibility of adverse exchange rate movements, the possibility that financial market difficulties could persist for longer than assumed and the possibility of a sharper...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: Government Policy over the last number of years in relation to low paid workers has been to keep them out of the tax net entirely. As a result, in 2008 it is projected that a total of 878,100 or 37.6% of income earners will be outside the tax net. As provided in the Programme for Government, this Government's priority is to keep low earners out of the standard rate band and average earners...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Apr 2008)

Brian Cowen: The Irish League of Credit Unions (ILCU) has since 1989 operated a savings protection scheme (SPS) for credit unions. The SPS aims to protect the individual savings of members by ensuring that credit unions are financially and administratively sound and provides for savings protection for each individual credit union member. It is important to note that under the SPS regime no member of a...

Written Answers — Expenditure Reviews: Expenditure Reviews (24 Apr 2008)

Brian Cowen: Value for Money and Policy Reviews are part of a package of changes that I have introduced to the Estimates and Budget processes in recent years to move resource allocation policy away from a narrow focus on financial inputs, on to a broader consideration of performance and the delivery of outputs and outcomes. The Government approved some 90 formal Value for Money Reviews to be carried out...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (24 Apr 2008)

Brian Cowen: The role and functions of the Financial Services Ombudsman (FSO) in dealing with consumer complaints complements that of the Financial Regulator in protecting the interests of consumers of financial services as a whole. During the passage of the FSO legislation through the Oireachtas in 2004 it was stated, on behalf of the Minister for Finance, that the Ombudsman's remit essentially is to...

Written Answers — Expenditure Reviews: Expenditure Reviews (24 Apr 2008)

Brian Cowen: In June 2006 the Government approved some 90 formal Value for Money Reviews to be carried out for the period 2006-2008. This programme of reviews focuses on significant areas of expenditure and major policy issues. To date 37 Reviews have been completed. Details of the reviews by Department including those completed and the original scheduled completion dates of remaining reviews are set...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I propose to answer Questions Nos. 33, 36 and 67 together. I want to assure the House that the Government's position on our corporate tax regime is unambiguous. Corporate taxation matters are and will remain within the competence of Member States. Our corporation tax system is protected, in an EU context, by the principle of unanimity in taxation matters. This principle is underpinned in the...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: In recent years, domestic demand was the main driver of growth, in part due to very high levels of residential construction. The high level of completions in this sector over the period was necessary in order to ensure more modest house price inflation by achieving a greater balance between housing demand and supply. I would also point out that higher levels of completions also resulted in...

Written Answers — Tax Yield: Tax Yield (24 Apr 2008)

Brian Cowen: Taxes were €35 million above target at the end of January, €552 million behind target in the month of February and €84 million behind target in the month of March. Overall tax receipts were around €600 million, or 5.1 per cent behind target in the first three months of 2008. Over half of this shortfall is due to the poor performance of Capital Gains Tax which reflects the more adverse...

Written Answers — Departmental Expenditure: Departmental Expenditure (24 Apr 2008)

Brian Cowen: As the Deputy is aware, there are two forms of accounting in the public service. The accounts of Government Departments and Offices are prepared on a cash basis while Local Authorities and Commercial State-Sponsored Bodies, for example, prepare their accounts on an accrual basis which includes the charging of depreciation. The Appropriation Accounts for central Government Departments and...

Written Answers — Tax Code: Tax Code (24 Apr 2008)

Brian Cowen: I am informed by the Revenue Commissioners that while there have been recent contacts between officials in the Revenue Commissioners and the US Treasury about updating the existing US-Ireland income tax treaty, no dates have been agreed for a meeting between officials. Given that no discussions have yet taken place, it is not possible to estimate any possible impact, positive or negative, at...

Written Answers — Home Repossessions: Home Repossessions (24 Apr 2008)

Brian Cowen: The Deputy will appreciate that reports relating to court proceedings for property repossessions need to be interpreted with caution, given the variety of circumstances that give rise to such cases and the fact that not all of the proceedings relate to residential property. It should also be noted that even where such orders are secured some are not enforced. The number of orders granted by...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: I propose to take Questions Nos. 40, 81, 90, 91 and 107 together. The Irish financial system has been positively assessed by the Central Bank and Financial Services Authority of Ireland in its Financial Stability Report and more recently by the OECD. The OECD's Economic Survey of Ireland, 2008 points out that Irish banks entered the current period of international financial turmoil in a very...

Written Answers — Fiscal Policy: Fiscal Policy (24 Apr 2008)

Brian Cowen: I have noted the findings of the ESRI in the Spring Quarterly Economic Commentary. In this Commentary, lower levels of new housing output and the deterioration in the international environment are the main factors weighing on growth this year. The market consensus is now for GDP growth of around 2.25 per cent for 2008. However, there is currently a wide range of forecasts for economic...