Results 1,441-1,460 of 16,537 for speaker:Brian Lenihan Jnr

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: As I indicated, I am not aware of the normal commercial operations of the bank. On the question concerning the promissory note, I have not received any submission to date regarding the precise terms surrounding the execution of this note. Therefore, I am not in a position to advise the Deputy at this stage as to what precise interest rate will be charged or how it will be computed.

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: I answered the Deputy's question when I indicated I had not received a submission in the matter yet. On Deputy Creighton's question, the ratio between expenditure, both current and capital, and taxation, will be set out in the national plan. It is, however, a matter of general economic wisdom that a correction is more effective if it leans on the expenditure rather than taxation side....

Macroeconomic and Fiscal Outlook: Statements (Resumed) (28 Oct 2010)

Brian Lenihan Jnr: On the Croke Park agreement, I do not have a figure to hand. The various matters raised in the agreement are being implemented through the relevant bodies. The agreement contains an assurance that there can be no compulsory redundancies or pay reductions for those who are taking the benefit of the agreement. However, I have made it clear to the staff side that the savings that must be...

Written Answers — Croke Park Agreement: Croke Park Agreement (27 Oct 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 183 and 200 together. The Implementation Body provided for under the Croke Park Agreement comprises the independent chair, Mr. P.J. Fitzpatrick, whose appointment was agreed by the parties, and nominees representing both public service management and the Public Service Committee of the Irish Congress of Trade Unions. The nominees to the Implementation Body...

Written Answers — National Pension Reserve Fund: National Pension Reserve Fund (27 Oct 2010)

Brian Lenihan Jnr: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 with the objective of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until at least 2055. According to the National Pensions Reserve Fund Commission, which is responsible for...

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the number of income earners earning in excess of €100,000, estimated by reference to 2011 incomes, is estimated at 111,500. This represents approximately 5% of all income earners. The total gross income of income earners earning in excess of €100,000 is estimated at €20 billion. Some 63% of this group earn below €150,000 per annum....

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2011 incomes, of a 1% point increase in the top rate of income tax for those with income over €100,000 would be of the order of €69 million. Consequently, the top rate of income tax would need to increase to 84% for tax units with income in excess of €100,000 to yield...

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that section 76 of the Finance Act 1982 inserted a new subsection (4A) in section 5 of the Value-Added Tax Act 1972. The measure dealt with the VAT treatment of the supply of services by barristers. When a barrister supplies a service he or she is not legally entitled to receive a fee in respect of that supply, even though appropriate steps may be...

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a tax credit certificate will issue to the person concerned shortly.

Written Answers — National Asset Management Agency: National Asset Management Agency (27 Oct 2010)

Brian Lenihan Jnr: I am advised by NAMA that, for two reasons, the names of any companies whose loans have transferred to NAMA may not be disclosed. The first reason is that companies and individuals whose loans have transferred to NAMA are entitled to have this information kept confidential. This is normal practice with regard to creditors and, as NAMA is stepping into the shoes of the bank from which the...

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: It is assumed that the threshold for the proposed new tax band mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2011 incomes, of the introduction of a new 48% rate...

Written Answers — Tax Code: Tax Code (27 Oct 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the latest relevant available information relates to the income tax year 2007. In that year, an estimated 2,650 claimants availed of the artists' exemption scheme at an estimated cost to the Exchequer of €27 million. It should be noted that this figure takes account of the restriction of reliefs measure as applied to the exemption of certain...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Oct 2010)

Brian Lenihan Jnr: In my role as Minister for Finance I have responsibility for the development of the legal framework governing the regulation of financial institutions in Ireland. The day to day responsibility for the supervision of these financial institutions is a matter for the Central Bank which is independent in the exercise of its regulatory functions. The Central Bank issues licences to moneylenders...

Written Answers — Fiscal Policy: Fiscal Policy (27 Oct 2010)

Brian Lenihan Jnr: Taking into account the various indirect tax changes, the consumer price index fell by 5.9 per cent between October 2008 and September of this year, thus supporting consumer spending power. Over this period there have been some increases in direct taxes, notably with the introduction of the income levy. However, it is not possible to say what the precise impact has been as this would...

Written Answers — Fiscal Policy: Fiscal Policy (27 Oct 2010)

Brian Lenihan Jnr: The information requested by the Deputy is set out in the tables following: 1. Value of bonds that matured and were redeemed at full face value in the period between September 2008 and September 2010: Type Value € Senior Bonds 14.6 bn Subordinated Bonds NIL 2. Subordinated Debt Bought Back Prior to Maturity (30/09/2008 - 30/09/2010) Dated Subordinated Debt Nominal Repurchased€ % of...

Written Answers — Motor Industry: Motor Industry (27 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that 45,055 used vehicles were registered in the State in 2009. In so far as 2010 is concerned, up to 30 September 2010, a total of 30,115 used vehicles had been registered in the State. The requirement to have all used vehicles presented for pre-registration examination has presented some new challenges for both Revenue and the NCTS. In...

Written Answers — Budget Submissions: Budget Submissions (27 Oct 2010)

Brian Lenihan Jnr: I have received a pre-Budget submission from the Irish Farmers Association. Its contents will be considered in the context of the forthcoming Budget and Finance Bill. As Deputies are aware it would not be appropriate for me to comment in advance of the Budget on possible Budget decisions.

Written Answers — Budget Submissions: Budget Submissions (27 Oct 2010)

Brian Lenihan Jnr: I have received a pre-Budget submission from the practice mentioned in the details suplied. Its contents will be considered in the context of the forthcoming Budget and Finance Bill. As Deputies are aware it would not be appropriate for me to comment in advance of the Budget on possible Budget decisions.

Written Answers — Local Authority Rates: Local Authority Rates (27 Oct 2010)

Brian Lenihan Jnr: The Valuation Act, 2001 which came into effect on 2nd May, 2002, provides for the revaluation of all commercial and industrial property in the State. The Commissioner of Valuation has sole responsibility for all valuation matters under the Act, which includes the implementation of the revaluation programme. This is a major project in nature and scale, all the more so given that such a...

Written Answers — Budget Submissions: Budget Submissions (27 Oct 2010)

Brian Lenihan Jnr: It is normal practice for officials of my Department to meet with various interest groups, especially in the run-up to the annual Budget. In that context, officials of my Department met with representatives of the tobacco industry in September 2010.