Results 12,421-12,440 of 19,445 for speaker:Brian Cowen

Tax Yield. (20 Nov 2007)

Brian Cowen: The programmes put forward in the election by Deputy Bruton's party and other parties with which it wished to coalesce were not specific when it was pointed out they were €1.7 billion above its programme commitments during the second week of the campaign. This was not Fine Gael's fault. It came from the then leader of the Labour Party who promised the sun, moon and stars to everybody....

Tax Yield. (20 Nov 2007)

Brian Cowen: I did not interrupt Deputy Bruton. I was quite rightly asked what are my priorities if 4.5% growth is not achieved and I set them out clearly.

Tax Yield. (20 Nov 2007)

Brian Cowen: Unlike the Opposition at the time I received credit for the clarity which I applied to answering the question. With regard to the programme for Government, we have established the guiding economic principles for the next five years. We will aim to achieve further significant sustainable growth, operate a responsible fiscal policy, deliver the national development plan——

Tax Yield. (20 Nov 2007)

Brian Cowen: ——and we will invest in increasing the productive capacity of the economy. I intend to implement the capital investment programme in the national development plan——

Tax Yield. (20 Nov 2007)

Brian Cowen: ——with regard to all current spending. Deputy Bruton's critique is that I will not reduce current spending quickly enough. I do not know where this will leave his figures. I seek to accommodate all day-to-day expenditure in the context of a responsible fiscal policy which will not compromise capital investment because this was the mistake made by past successive Governments when faced...

Tax Yield. (20 Nov 2007)

Brian Cowen: No, there is not. Every programme for Government, including the one negotiated by Deputy Lowry prior to Deputy Bruton's brother becoming Taoiseach, has a covering budgetary context in which it is achieved. This is no different in this programme for Government. A programme would be meaningless if it did not have such a covering budgetary parameter which confirms what will be done in the...

Tax Yield. (20 Nov 2007)

Brian Cowen: The only fiction Deputy Bruton engaged in was that in which he engaged himself.

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: The Financial Stability Report 2007 published last week by the Central Bank and Financial Services Authority of Ireland, CBFSAI, is a comprehensive and detailed assessment of the impact of international financial market conditions on the Irish financial services sector and on financial conditions in the economy generally. I welcome the CBFSAI's conclusion that the financial system is well...

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: Special investment vehicles fall outside the remit of regulation and do not have an interface with the public in terms of taking deposits.

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: The issue raised by the Deputy pertains to the fact that complex financial vehicles and arrangements are in place and we have to regulate them in so far as it is possible and consistent with normal commercial arrangements to do so. With regard to the Stock Exchange, markets react to sentiments and events in the sub-prime market and across the world. Obviously, the inter-bank market has...

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: The Governor of the Central Bank spoke on the matter at the launch of the bank's financial stability report for 2007. He noted that while much depends on the possible evolution and duration of the current market turbulence, there are concerns that a prolonged period of market disruption could affect economic activity by increasing the cost of credit to firms and individuals and reducing the...

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: I am happy that we have a robust financial system in Ireland which is well regulated.

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: There is nothing, of which I am aware——

Financial Services Regulation. (20 Nov 2007)

Brian Cowen: If the Deputy wants a reply, I will give him one but if he asks ten further questions while I am answering, it will be difficult for anyone to know what is going on. I have given my reply and I concur with the Governor. The Central Bank and the regulatory authority continue constantly to monitor the situation. We have seen turbulence in financial markets but I am satisfied we have a well...

Tax Policy. (20 Nov 2007)

Brian Cowen: In budget 2006 I announced the introduction of a limit with effect from 1 January 2007 on the use of tax reliefs, including certain exemptions by some high-income individuals. This measure was designed to address the issue of a small number of individuals with high incomes who, mainly by means of the cumulative use of various tax incentive reliefs, have been able to reduce their income tax...

Tax Policy. (20 Nov 2007)

Brian Cowen: I do not comment on specific tax issues but I will answer Deputy Burton's questions to the extent that I can. The issue raised by the Deputy pertains to the roles tax relief schemes play in promoting economic and social development. She referred to a review which I asked to be conducted and which recommends that in the future, consideration should be given to tax incentive schemes on the...

Tax Policy. (20 Nov 2007)

Brian Cowen: The Deputy clearly made a specific interpretation of what I said. I was speaking about matters of general principle rather than specifically addressing any impending issues. The criteria set out in the tax review report, which I instigated, have a lot of merit.

Tax Policy. (20 Nov 2007)

Brian Cowen: I have accepted the recommendations on the one or two occasions I introduced specific schemes. The Deputy's question was not related to the question she tabled. Rather than surmise and be misinterpreted again, I ask the Deputy to table a question and I will give an accurate answer.

Tax Policy. (20 Nov 2007)

Brian Cowen: As I stated, I introduced restrictions on tax reliefs, the benefits of which will emerge in the statistics over time. Some of those who criticise me did not introduce these types of restrictions when they had an opportunity to do so. To respond to Deputy Bruton's point, an evaluation of the tax schemes I have introduced was published on the Department's website. I am, therefore, aware of...

Tax Code. (20 Nov 2007)

Brian Cowen: As the Deputy will be aware, it is a long-standing practice of the Minister for Finance not to comment in advance of the budget on any tax or expenditure matters that might be the subject of budget decisions. I am sure the Deputy will not wish me to depart from this practice given that budget day is so close. He will, however, recall that in my 2007 Budget Statement, I announced it was...