Results 14,561-14,580 of 19,445 for speaker:Brian Cowen
- Tax Code. (22 Nov 2006)
Brian Cowen: I heard the Deputy's comments about it. I will have to examine the situation.
- Fiscal Policy. (22 Nov 2006)
Brian Cowen: I welcome the publication by the Central Bank of its Financial Stability Report 2006 which reflects the bank's mandate to contribute to the stability of the financial system in Ireland. I note the report's main conclusion that Ireland's financial system continues to be in a good state of health. This is based on a detailed assessment of the risks facing borrowers, the financial position of...
- Fiscal Policy. (22 Nov 2006)
Brian Cowen: Of course one keeps a close eye on these matters, as one must and should. Interest rate policy, as a result of our euro membership, is a matter for the ECB in the first instance. Ireland is represented on the ECB by the Governor of the Central Bank. Mr. Trichet, President of the European Central Bank, when addressing the European Parliament's economic and monetary affairs committee â his...
- Fiscal Policy. (22 Nov 2006)
Brian Cowen: A soft landing is being encouraged by the continuing supply of houses to a market which continues to have strong fundamentals. Anecdotal evidence suggests the market is softening but we will not be able to ascertain until spring of next year whether interest rate increases are contributing to that situation. The important point is that we should not be predicting a hard landing when the...
- Fiscal Policy. (22 Nov 2006)
Brian Cowen: We are no longer facing the difficulties of the early and mid-1990s, when the real interest rate was as high as 7% above nominal inflation.
- Fiscal Policy. (22 Nov 2006)
Brian Cowen: I recognise that affordability is now an issue for people. Clearly, the repayment of the mortgage is the first charge on disposable income and the resulting impact in terms of less spending power for other activities can ultimately affect economic growth and revenues. However, we should remind ourselves that interest rates remain at historically low levels. The Central Bank has made it...
- Tax Code. (22 Nov 2006)
Brian Cowen: The Deputy's question is related to the calls made on occasion for the establishment of an independent individual or entity whose proposed role would include acting as an advocate for taxpayers who feel unfairly treated by the system. The statutory remit of the Ombudsman already incorporates both of the roles proposed for a taxpayer advocate, namely, acting for taxpayers and investigating...
- Tax Code. (22 Nov 2006)
Brian Cowen: There is nothing to prevent the Ombudsman from making general remarks about the efficiency and fairness of the system and such remarks have been made in the past. In regard to the general evaluation of tax administration, it is not clear what role a tax advocate could play that is not already provided in the existing political and administrative structures. In countries which have...
- Tax Code. (22 Nov 2006)
Brian Cowen: On Deputy Boyle's point, we have enough bureaucracy in the system and I do not believe we need more independent NGOs telling us what to do. The decisions on our tax system and the laws we pass are matters for the Oireachtas, the Members of which are accountable to the people. I do not buy into the concept that we must appoint someone who is answerable to nobody to tell us what to do. The...
- Tax Code. (22 Nov 2006)
Brian Cowen: Taxation is a political matter. I am making this general point because I am always amazed at the desire to set up more offices that are answerable to nobody in the view that they would be far wiser than the rest of us, even though the Parliament has been given a job to do.
- Tax Code. (22 Nov 2006)
Brian Cowen: I am often bemused by this sort of thinking. The Internal Revenue Service in the United States operates a taxpayer advocacy service headed by a national taxpayer advocate. However, the taxpayer advocate service is not external to the Internal Revenue Service. It deals with both individual taxpayers' problems and problems attracting multiple taxpayers, and with flaws in the tax code. The...
- Tax Code. (22 Nov 2006)
Brian Cowen: The chairman comes to see me.
- Tax Code. (22 Nov 2006)
Brian Cowen: I have a very good accountant who handles all my affairs.
- Air Services. (22 Nov 2006)
Brian Cowen: I am informed by the Revenue Commissioners that the review of approval conditions attached to licensed aerodromes is being dealt with as a priority. I outlined to the House on 18 October last in response to an earlier question that the review was likely to take approximately six weeks. The Revenue Commissioners now inform me the review is on target and should be completed within Revenue...
- Air Services. (22 Nov 2006)
Brian Cowen: This incident heightened sensitivity on the part of Revenue, and I am sure it has acted accordingly, although I do not have that information. The Revenue Commissioners are conducting a review of approval conditions attached to licensed aerodromes, and they are also concentrating on risks in the operation of, and procedures at, such aerodromes. They are focusing mainly on smaller licensed...
- Air Services. (22 Nov 2006)
Brian Cowen: I agree that drugs are a menace and a serious danger to the functioning of society, and we must do all that we can. Increased resources are being deployed to deal with them, by the gardaÃ, Customs and Excise and everyone else. The Deputy has asked whether the promised review has been completed and if I would make a statement on the matter. That review has not yet been completed, although...
- Mortgage Lending. (22 Nov 2006)
Brian Cowen: I am aware of the reports referred to by the Deputy. The sub-prime market exists to provide finance to those who have difficulty accessing mainstream credit, usually owing to an adverse credit history or difficulties proving income. Consequently, interest on such loans is normally higher than in the case of mainstream credit, as the lender must allow for a greater degree of credit risk. As...
- Mortgage Lending. (22 Nov 2006)
Brian Cowen: I understand the company to which the Deputy referred is one of a handful of companies operating in this sector, but I have no information on the intentions of such companies in what is essentially a commercial matter for themselves. In regard to the procedures used by the Financial Regulator to determine what charges it will allow a lender to impose, section 149 of the Consumer Credit Act...
- Mortgage Lending. (22 Nov 2006)
Brian Cowen: As I said, the Financial Regulator has a consumer protection remit in the area of financial services. It was established as a modern regulatory authority that would perform its function in an independent fashion.
- Mortgage Lending. (22 Nov 2006)
Brian Cowen: If a practice comes to the Deputy's attention which she believes is not in compliance with the statutes, she should raise it with the Financial Regulator.