Results 14,281-14,300 of 19,445 for speaker:Brian Cowen

Estimates for Public Services 2006 (12 Dec 2006)

Brian Cowen: I move the following Supplementary Estimates:

Written Answers — Tax Code: Tax Code (7 Dec 2006)

Brian Cowen: The position is that elderly taxpayers are treated more favourably than the generality of taxpayers under the income tax code and this treatment was underlined in my 2007 Budget. After Budget 2007, elderly earners aged 65 or over may earn €19,000, if single, or €38,000, if married, without having any liability for income tax. Above these limits a system of marginal relief applies. The...

Written Answers — Tax Code: Tax Code (7 Dec 2006)

Brian Cowen: Section 86 of the Capital Acquisitions Tax (CAT) Consolidation Act 2003 provides an exemption from CAT, in certain circumstances, for persons who acquire their family home by way of gift or inheritance. The relief was introduced in order to reduce the tax burden faced by individuals on receipt of the family home. The relief does not apply a threshold to the value of property that is being...

Written Answers — Special Incentive Savings Scheme: Special Incentive Savings Scheme (7 Dec 2006)

Brian Cowen: The SSIA scheme commenced on 1 May 2001 and is administered by Qualifying Savings Managers in accordance with legislation and guidelines issued by the Revenue Commissioners. Individuals aged 18 and over who were resident in the State could open an SSIA account and in the case of a married couple, both spouses could open their own accounts. However, the SSIA rules do not deal specifically...

Written Answers — Tax Code: Tax Code (7 Dec 2006)

Brian Cowen: Section 469 of the Taxes Consolidation Act 1997 provides for relief from income tax in respect of certain qualifying health expenses incurred by an individual in respect of himself/herself and/or on behalf of his or her relatives or dependents in a tax year. Section 469(5) provides that where health expenses are incurred in one year but not paid until a following year, an individual has the...

Written Answers — Tax Code: Tax Code (6 Dec 2006)

Brian Cowen: The position is that charities and non-profit groups engaged in non-commercial activity are exempt from VAT under the EU Sixth VAT Directive, with which Irish VAT law must comply. This means they do not charge VAT on the services they provide and cannot recover VAT incurred on goods and services that they purchase. Essentially only VAT registered businesses which charge VAT are able to...

Written Answers — National Lottery Funding: National Lottery Funding (6 Dec 2006)

Brian Cowen: The amount of revenue generated for the Exchequer by the National Lottery in each of the years 2001 to 2005 is as follows: Year €m 2001 174.884 2002 171.263 2003 185.263 2004 187.069 2005 202.815 The Government decides on an annual basis how the surplus from the National Lottery is to be allocated in the context of the overall Estimates process. I refer the Deputy to Appendix I of...

Written Answers — Tax Code: Tax Code (6 Dec 2006)

Brian Cowen: I am advised by the Revenue Commissioners that the most recent estimated cost of making the main personal tax credits refundable when they are unused is broadly in the region of €2.1 billion annually. The main category of refund would relate to the employee credit where the annual cost of refunding the unused portion of the credit to income earners with insufficient income to fully absorb...

Written Answers — Financial Services Regulation: Financial Services Regulation (6 Dec 2006)

Brian Cowen: Firstly, I might explain that the present arrangements for investor compensation were introduced in 1998 on foot of an EU Directive. The Directive was transposed into Irish law by the Investor Compensation Act 1998, which established the Investor Compensation Company Ltd (ICCL) to ensure that clients of a failed investment firm receive compensation within the parameters set down in the Act....

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: "Won't you come out to play?"

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: He was not as good a singer as his father.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: I propose to increase the health levy from 2% to 2.5% on income exceeding €1,925 per week or just over €100,000 per year. This extra money will help fund services such as long-term care initiatives for the elderly. We need to act now to secure such funds and I believe it is only right that those best able to afford it make an increased contribution. This will raise €34 million in a...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In the case of the seed capital scheme, the annual investor limit is being increased to €100,000. I am increasing these limits in order to bring vital risk capital to the small business sector. As these schemes are approved State aids, their continuation and the changes proposed will require the approval of the European Commission. The full year cost of these measures is estimated at...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: Over 97% of Irish companies will have the benefit of this simpler and more straightforward system. It will help them to get on with their business without putting the State's cash flow at risk. I am also introducing measures proposed by Revenue whereby new start-up companies will not have to pay preliminary tax in respect of their first accounting period. In addition, I have asked Revenue...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: A further €270 million will be provided to fund a programme of purchases up to 2013 and this will be reflected in the Government's medium-term investment programme to be set out in the forthcoming national development plan.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: This provision will be kept under review. The purchase of carbon allowances is just one part of the overall strategy. We will shortly complete an updated version of the national climate change strategy.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: In more general terms, on the environment we have made progress on many fronts, including enhancing public transport facilities under Transport 21; setting an ambitious target of 30% electricity generation from renewable sources; making rapid improvements in drinking water quality; significantly increasing high-quality waste water treatment capacity resulting in 90% compliance with EU...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: ——and the nitrates action programme will resolve the problem of water pollution from the overuse of phosphates and nitrates and will also reduce our greenhouse gas emissions.

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: We have allocated €328 million in 2007 for the rural environment protection scheme. This includes provision for a new REPS 4 scheme, which will go to Brussels shortly for approval as part of Ireland's rural development programme for the period 2007 to 2013. The new scheme will include additional biodiversity elements and new supplementary measures designed to deliver further benefits to...

Budget Statement 2006 (6 Dec 2006)

Brian Cowen: I would like to mention a number of measures in the fiscal area which I am bringing forward. Environmental taxation In the case of vehicle registration tax, I intend to change the current rating system to relate it more closely to environmental policy objectives, in this case reducing carbon dioxide emissions. I intend that there should be some reward in the VRT system for choosing...