Results 1,921-1,940 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Credit Availability: Credit Availability (30 Sep 2010)

Brian Lenihan Jnr: The withdrawal of any bank from the Irish market is a matter of regret because it reduces the level of competition between banks and causes disruption for the customers of the bank concerned. I note, however, that other banks are mounting campaigns to attract those customers and that at least one other foreign owned bank has reaffirmed its commitment to the Irish market. The availability of...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: No funding was transferred to the covered financial institutions under the bank guarantee scheme. Total liabilities guaranteed under the ELG Scheme amounted to €153 billion at the end of June. The comparable figure at end June for the CIFS Scheme was €103 billion. However, the covered institutions have paid fees to the State in respect of the guarantee - as at end August 2010 €730m has...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: I refer the Deputy to my statement today which sets out in detail the final costs associated with repairing the banking system and the additional support which will be required by some of our banks and building societies.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer of all income tax and corporation tax allowances, reliefs, exemptions and tax credits available are set out in the following tables for 2006, the most recent year for which the necessary detailed historical information is available. Relevant notes relating to items in the tables are also included....

Written Answers — Tax Reliefs: Tax Reliefs (30 Sep 2010)

Brian Lenihan Jnr: The position is that, under section 469 of the Taxes Consolidation Act 1997, expenses incurred in respect of medical or dental treatment (as defined in the Act) outside the State are eligible for income tax relief, provided the treatment is carried out by a practitioner who must be entitled under the laws of the country where the care is provided to practice medicine or dentistry there....

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 132 to 134, inclusive, together. I am informed by NAMA that the debtors whose loans were acquired as part of the first and second tranche transfers are at various stages of progress in terms of the submission and review of their business plans. The task of the NAMA Board is to assess, for each debtor, the ultimate viability of that debtor, given the scale of...

Written Answers — Public Sector Staff: Public Sector Staff (30 Sep 2010)

Brian Lenihan Jnr: The Public Service Numbers reported to my Department for each of the past 10 years are set out in table 1 below. The moratorium on recruitment and promotion was introduced by the Government at the end of March 2009. Since the introduction of the moratorium the numbers employed in the public service have steadily decreased and the latest numbers reported to my Department for end-June 2010 were...

Written Answers — Excise Duties: Excise Duties (30 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners who are responsible for the collection of tobacco products tax, and for tackling the illicit trade in cigarettes and tobacco products that the information requested by the Deputy is as follows. Firstly, the Revenue Commissioners acknowledge that there is no internationally recognised method for precisely determining the amount of tax lost as a...

Written Answers — Mortgage Relief Schemes: Mortgage Relief Schemes (30 Sep 2010)

Brian Lenihan Jnr: The Government is conscious of the high value Irish people place on owning their own homes and is currently providing support for a number of initiatives designed to assist homeowners who are finding it difficult to meet their mortgage repayments and to prevent home repossessions. I refer in particular to the Mortgage Interest Supplement Scheme (MIS) funded by the Department of Social...

Written Answers — Insurance Industry Regulation: Insurance Industry Regulation (30 Sep 2010)

Brian Lenihan Jnr: Life assurance companies are governed by the Insurance Acts 1909 to 2000 and regulations relating to insurance made under section 3 of the European Communities Act 1972. This body of legislation deals with a range of issues including authorisation provisions, prudential supervision and governance matters. The day to day responsibility for ensuring that the insurance industry complies with...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: To date the banks have paid fees totalling €730m under the Credit Institutions (Financial Support) Scheme 2008. We have also received €296m under the ELG Scheme. This money, and that due under the next payment, will be transferred to the Exchequer in October. I do not expect to receive significant sums in relation to CIFS for Q3 as a credit still applies for overpayments of the CIFS...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (30 Sep 2010)

Brian Lenihan Jnr: €3.5bn was invested by way of preference shares in AIB on 13 May 2009. On the 13 May 2010 the NPRFC received 198 million ordinary shares of AIB in lieu of a cash payment of the dividend on the preference shares. The payment was made in the form of ordinary shares as the European Commission requested that discretionary coupon payments on Tier 1 and Upper Tier 2 capital instruments in Bank of...

Written Answers — State Banking Sector: State Banking Sector (30 Sep 2010)

Brian Lenihan Jnr: As indicated in my statement of the 8th September the Government believes that it is essential to identify, with as much certainty as possible, the final cost for the restructuring and resolution of the bank. This will underpin international financial confidence in Ireland. Accordingly, the Central Bank/Financial Regulator was asked to determine the appropriate levels of capital needed in...

Written Answers — National Debt: National Debt (30 Sep 2010)

Brian Lenihan Jnr: The National Treasury Management Agency (NTMA) advise that the national debt was €75.2 billion at end-2009 and was €87.2 billion at end-August 2010. The weighted average cost of bonds raised in 2010 to date is 4.7% which is the same as the average cost achieved in 2009. The weighted average maturity of the debt is 7.6 years. Based on the Budget 2010 estimates, Table 1 below outlines the...

Written Answers — Economic Growth: Economic Growth (30 Sep 2010)

Brian Lenihan Jnr: As I've already indicated, my Department is assessing all relevant information and will publish revised macro-economic forecasts in the coming weeks. The Government has a clear economic growth strategy in place. The four key elements of the strategy are: fiscal consolidation in order to put the public finances on a sustainable path; repairing the banking system to ensure that credit is...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (30 Sep 2010)

Brian Lenihan Jnr: On 30 March 2009 I directed the National Pensions Reserve Fund Commission to invest €3.5 billion in preference shares issued by Bank of Ireland and on 12 May 2009 I directed the Commission to invest €3.5 billion in preference shares issued by Allied Irish Banks plc (AIB). I gave these directions having consulted the Governor of the Central Bank and the Regulatory Authority and having...

Written Answers — Financial Services Regulation: Financial Services Regulation (30 Sep 2010)

Brian Lenihan Jnr: The Financial Regulator has advised me that the number of licences granted each year from 2008 to end August 2010 is as follows:- No of licensed moneylenders 2008 52 2009 52 2010 51 (as at 31 August 2010) The Deputy might wish to note that money lending licences must be renewed annually and that the number of valid licences at a particular time does not vary significantly....

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that statistical data is not available to distinguish the amount of dividends associated with pension funds. Accordingly, the specific information requested by the Deputy is not available.

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that sufficiently detailed figures are not captured on the statutory return of DIRT filed by the financial institutions in such a way as to provide a basis for compiling estimates of the impact on the Exchequer from the change mentioned in the question. Accordingly, the specific information requested by the Deputy is not available. An individual aged...

Written Answers — Tax Code: Tax Code (30 Sep 2010)

Brian Lenihan Jnr: I propose to take Questions Nos. 151 and 152 together. I am informed by the Revenue Commissioners that the aggregate amount of trading losses for Corporation Tax returned by companies for accounting periods ending in 2008 (the latest year for which figures are available) was approximately €17.4 billion and the aggregate amount of losses carried forward from earlier accounting periods was...