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Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: We cannot make an accurate assessment.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: Apocalyptic assessments are more in the Deputy's expertise than mine.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: Would the Deputy?

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: By what percentage?

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: The Deputy will find the Department of Social and Family Affairs made that forecast.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: One cannot hide success.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: At that stage, but certificates have since increased. The most up to date——

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: No. There are 116 individuals, 81 personal fund threshold certificates have been issued, five people have funds valued higher than €20 million, 35 cases remain under inquiry and three——

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: The position was accurate at the time. I am giving the Deputy the updated position.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: No. The personal fund threshold certificates have issued.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: Yes.

Finance Bill 2007: Report Stage (Resumed) and Final Stage (7 Mar 2007)

Brian Cowen: The 116 funds are pre-budget 2006. We are discussing the historical position, that is, the level of the funds were recorded on budget day and they were not created thereafter. I can arrange to provide the bands information. The SSIA scheme was an attempt to inculcate a savings culture and to determine how to develop simplified schemes. It worked well and, at the time, received the support...

Finance Bill 2007: Report Stage (Resumed) and Final Stage (7 Mar 2007)

Brian Cowen: The background to the decisions we made as regards BES and the seed capital scheme that was up for renewal was the Small Business Forum and much of the work it undertook under the chairmanship of Mr. Joe Macri. The forum came forward with very specific recommendations which were discussed with me and the Department of Enterprise, Trade and Employment. I was broadly supportive of the...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: Deputy Burton raised this matter on Committee Stage two weeks ago and I said I would reflect on it. The relief to which she referred was introduced last year and restricted to a person minding up to three children, not their own, in the minder's own home. As I understand the Deputy, her proposal is aimed at extending the exemption to persons minding larger numbers of children of school...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: I pointed out on Committee Stage that existing law already provides an exemption from an employee benefit-in-kind charge where employers provide free or subsidised child care for their employees. The exemption applies where child care facilities are made available solely in-house by the employer, jointly by the employer with other participants, by other persons in circumstances where the...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: As the House will be aware, organised child care facilities in the sense they have developed is a relatively recent phenomenon. We have come from a position where we had virtually no places six or seven years ago. As Deputy Bruton stated, if employer provided child care facilities are to be an increasing feature of how child care is delivered, attitudinal shifts will be required on the part...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: With regard to the Deputy's first amendment, I pointed out on Committee Stage that tax law provides an exemption for an employee benefit-in-kind tax charge where employers provide their employees with monthly or annual travel passes. For the exemption to apply, the employer must bear the cost of the travel pass. Subsequent to the introduction of the scheme, representations were made to...

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: As Deputy Boyle knows, purchasing carbon credits is a totally legitimate means by which one can meet one's international obligations under the Kyoto Protocol. It is not buying them out.

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: It is legitimate and is one of a number of approaches the Government is adopting. The new climate change strategy, which will be announced by the Minister and the Government shortly, will confirm all of those issues. We are making considerable progress in a range of areas and we will continue to do so. This continual attempt to denigrate the purchasing of carbon credits as if——

Finance Bill 2007: Report Stage (Resumed). (7 Mar 2007)

Brian Cowen: ——it was not legitimate is incorrect. It is totally legitimate and within the protocol. Many countries do so. The Department checked out whether any more flexibility could be obtained and what was possible. Administratively, it is not possible. The Government made the inquires some time ago with the transport companies to see if it was possible to deal with the situation about which...

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