Results 1,521-1,540 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Code: Tax Code (20 Oct 2010)

Brian Lenihan Jnr: The scheme mentioned by the Deputy has not been considered. However, in my view, it would not be appropriate to offer a tax incentive to lenders where loans are provided to family members on a commercial basis. The interest repayable on such loans should act as a sufficient incentive in itself. The Business Expansion scheme is already available to encourage investments in certain small and...

Written Answers — Budget Submissions: Budget Submissions (20 Oct 2010)

Brian Lenihan Jnr: There are many documents related to the budget deficit that are not confidential. My Department has not provided any confidential documentation in relation to the budget deficit to the person referred to in the Deputy's question. As is well known, I have always consulted widely, and confidentially, on matters related to my brief which helps ensure that I have as broad a perspective as...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Oct 2010)

Brian Lenihan Jnr: The Government's State Savings products consist of the National Solidarity Bond, Savings Certificates, Savings Bonds, Prize Bonds, Instalment Savings and Deposit Accounts (POSB). The total amount invested in the State Savings products on Monday, 18 October 2010 was €12.029 billion, made up of €265 million in the National Solidarity Bond, €3.808 billion in Savings Certificates, €3.972...

Written Answers — Departmental Agencies: Departmental Agencies (20 Oct 2010)

Brian Lenihan Jnr: I brought proposals to Government regarding the establishment of a Review Group to examine and advise the Government on the extent to which the current arrangements governing the remuneration of chief executives of commercial State-sponsored bodies remains appropriate having regard to changes in economic circumstances, the commercial environment in which the companies operate and labour...

Written Answers — Public Service Pay: Public Service Pay (20 Oct 2010)

Brian Lenihan Jnr: The Public Service Agreement 2010 - 2014, or Croke Park Agreement, provided for the establishment of an Implementation Body to oversee progress on the implementation of the agreed transformation measures across the Public Service. Mr. P.J. Fitzpatrick, was appointed in July as independent chairman of the Implementation Body with 3 nominees each from Public Service Management and the Public...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Oct 2010)

Brian Lenihan Jnr: Section 53 of the National Asset Management Agency Act 2009 requires NAMA to submit an annual statement to the Minister for Finance 3 months before the commencement of the year to which it relates, with the exception of the financial year 2010 which had to be submitted before 1 July 2010. Section 55 of the Act requires NAMA to make a quarterly report to the Minister for Finance within 3...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (20 Oct 2010)

Brian Lenihan Jnr: The Deputy will be aware that my Department and Mr. Trethowan of the Credit Review Office receive monthly progress reports from the two banks which allow us to monitor their lending to viable businesses in all sectors of the economy and in every area of the country. This information is commercially sensitive. The banks have 12 months to reach their targets and the overall results of their...

Written Answers — Departmental Staff: Departmental Staff (20 Oct 2010)

Brian Lenihan Jnr: In relation to my Department, the details of persons employed on fixed term or fixed purpose temporary contracts are as follows: Year No. of persons on temporary contract Annual cost 2008 5 € 343,261 2009 8 € 688,655 Some people were employed on contracts for a duration exceeding one year and are therefore included for both years. While some people may have been...

Written Answers — Vehicle Registration: Vehicle Registration (20 Oct 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that under the revised registration procedures (operated by the National Car Testing Service (NCTS) since 1 September 2010) a total of 22 NCT Centres were initially configured for registration purposes to replace the 22 Revenue Vehicle Registration Offices (VROs) that previously performed the registration function. These NCT Centres are, for the most...

Written Answers — Tax Code: Tax Code (20 Oct 2010)

Brian Lenihan Jnr: The cost of extending to the computer game industry a tax relief similar to the scheme for film relief operating under section 481 would depend on the level of uptake by investors and the amounts invested. I am not therefore in a position to provide such an estimate. I have no plans to extend Section 481 to the video game industry.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: The Central Bank has identified that the capital needs for Anglo Irish Bank in the proposed restructured state will be €29.3 billion. There will be some reduction in the figure taking into account the contribution to be derived by burden sharing by the holders of subordinated debt. However, we are also conscious that we must agree the final restructuring plan with the European Commission...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: The mutual model therefore does not have a very good record in the context of what we have seen and witnessed in the two institutions.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: That is correct but whether the model is sustainable in terms of corporate governance to prevent a repetition of that type of activity is an issue on which we will all have to reflect.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: So be it, but the directors were elected by the depositors. That is the model. On the interest that has been expressed in the Educational Building Society, I understand the National Treasury Management Agency has finalised a list of two preferred bidders. I have yet to see its submission but I understand it has prepared one in that regard. The Educational Building Society will continue to...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I will come to that in a moment.

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: One of the institutions was referred to by Deputy Broughan. I take it he was referring to Irish Life & Permanent. The matter to which he referred is under investigation by the Garda Síochána. It is far from clear that there was any criminal conduct involved but the matter is under investigation. There is no suggestion that the episode necessarily taints the validity of any bid it might...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: I agree with Deputy O'Sullivan that €1.3 billion to €1.7 billion a year in cash terms is a significant figure. It is a most regrettable figure. However, apart from that figure, the gap this year is €19 billion. The gap between State receipts and expenditures, leaving the issue of the banks aside, is a very wide one. The figure speaks for itself. I assure the Deputy that I received...

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: Given that the fundamental issue of confidence that has to be addressed-----

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: -----in this country is how we recreate confidence in those abroad that we are able to manage our own affairs and that we are not going to have a continuing gap of €20 billion between expenditure and income----

Statements re Minister for Finance's announcement on banking of 30 September 2010: Questions (20 Oct 2010)

Brian Lenihan Jnr: If one is anxious about the release of €90 billion in deposits I suggest that promising marginal tax rates of between 60% and 80% will not procure their release.