Results 1,961-1,980 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Tax Collection: Tax Collection (29 Sep 2010)

Brian Lenihan Jnr: As the Deputy is aware, for reasons of taxpayer confidentiality, the Revenue Commissioners do not comment on individual cases. However, I have been advised by the Revenue Commissioners that revenue audits are conducted in accordance with legislation and the published Code of Practice for Revenue Auditors. The Code of Practice for Revenue Auditors contains details of the procedures to be...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2010)

Brian Lenihan Jnr: The Deputy will be aware that I am bringing a Statutory Instrument before the Houses of the Oireachtas today which extends the Eligible Liabilities Guarantee Scheme to 31 December 2010. This is an important support to the Irish banking system, facilitating its access to both short and longer term funding to help maintain the overall stability of the banking sector and complements the broad...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 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 — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the estimated full year gain from increasing the rate of Capital Gains Tax (CGT) from 25% to 40% is €240 million. This estimate assumes no behavioural changes on the part of taxpayers. CGT is very dependent on individual behaviour and a change in rate may not produce a corresponding increase or decrease in tax yield. In current economic...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 10%, based on the Budget estimate of €240 million for 2010, could be in the region of €96 million. However, it should be noted that this estimate is based upon an assumption that there would be no behavioural impact of such an increase, which...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the deductions and reliefs which are allowable for tax at an individual's marginal rate of income tax and for which estimates of cost can be provided are set out below together with estimated costs for the year 2006, the most recent year for which the necessary detailed information is available. If relief for these deductions and reliefs was...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: It is assumed that the Deputy is referring to the abolition of the tax relief on future expenditure in relation to the following property based tax incentive schemes that remain in the tax code: Qualifying Specialist Palliative Care Units (subject to Commencement Order) and certain tourism infrastructure under the Mid-Shannon Scheme (only 80% of expenditure can qualify in certain areas). I am...

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: It is estimated that the yield to the Exchequer from increasing the DIRT rate by 5 per cent to 30% is €123m in a full year, assuming no significant behavioural change by depositors or a change in interest rates applied by financial institutions to savings.

Written Answers — Fiscal Policy: Fiscal Policy (29 Sep 2010)

Brian Lenihan Jnr: It is assumed that the question relates to the application of betting duty to bets placed with on-course bookmakers at horse and greyhound race meetings. Based on an estimate of around €150 million of bets having been placed with on-course bookmakers at race meetings over the twelve month period to September 2010, it is estimated that applying the 5% betting duty to such bets would have...

Written Answers — Exchequer Savings: Exchequer Savings (29 Sep 2010)

Brian Lenihan Jnr: Based on the current membership of both Houses of the Oireachtas, the estimated saving in a full year from capping salaries of TDs at €80,000 would be €2.5m, while the estimated saving in a full year from capping salaries of Senators at €60,000 would be €0.4m. Ministers and Ministers of State receive an Office Holder salary in addition to their salary as a TD. If a cap of €120,000...

Written Answers — Exchequer Savings: Exchequer Savings (29 Sep 2010)

Brian Lenihan Jnr: The estimated full year savings to the Exchequer if a cap of €100,000 were applied to public service salaries would be around €350m. The estimate takes account of the reductions in pay arising from the Financial Emergency Measures in the Public Interest (No. 2) Act, 2009. The estimate does not include staff of commercial State -sponsored bodies since the Minister for Finance is not...

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2011 incomes, of changing the higher rate of tax by 1% would be approximately €180 million. This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2008 adjusted as necessary for income and employment trends for the year 2011. It is...

Written Answers — Tax Yield: Tax Yield (29 Sep 2010)

Brian Lenihan Jnr: The yield in a full year to the Exchequer from increasing the current standard rate of Corporation Tax from 12.5 per cent to 13.5 per cent is tentatively estimated to be in the region of €235 million. The yield includes the effect of increasing the standard rate for manufacturing companies from 12.5% to 13.5%, with the termination of the 10% rate of Corporation Tax for these companies with...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2010)

Brian Lenihan Jnr: This commitment included in the Government's recapitalisation programme has been advanced in the first instance through the work of the Advisory Group on the National Payments Implementation Programme which examined as part of its work a number of important issues relating to the design, scope and provision of basic banking accounts in Ireland. The assessment and recommendations of the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2010)

Brian Lenihan Jnr: As part of the restructuring plan process currently underway with the European Commission it has been proposed that the domestic banking sector will be required to support and promote the availability of a basic bank account. This is to be done in the context of the implementation of the Government's strategy on financial inclusion in the State. Work has commenced on a review of the options...

Written Answers — Financial Services Regulation: Financial Services Regulation (29 Sep 2010)

Brian Lenihan Jnr: At present, moneylenders are covered by a range of provisions under the Consumer Credit Act 1995, (the Act), including the annual licensing process and the register of licensed moneylenders system as administered by the Financial Regulator. Consumers who avail of loans from moneylenders, licensed under the Act, are entitled to a considerable amount of information in relation to such loans....

Written Answers — Departmental Bodies: Departmental Bodies (29 Sep 2010)

Brian Lenihan Jnr: The Deputy will be aware that the Government's policy is to promote the increased use of electronic payments throughout the economy, with the longer-term objective of significant reductions, over a number of years, in the volume of paper-based payments in use throughout the economy. This policy is fully aligned and is developing in tandem with market and regulatory developments at EU level,...

Written Answers — Financial Services Regulation: Financial Services Regulation (29 Sep 2010)

Brian Lenihan Jnr: I. as Minister for Finance, have no statutory function in relation to the issue raised by the Deputy. Under the Prosecution of Offences Act 1974, the Director of Public Prosecutions acts independently in the performance of his functions and makes decisions on prosecutions independent of all Government Departments and Institutions, including An Garda Síochána. The Financial Regulator (FR)...

Written Answers — Pension Provisions: Pension Provisions (29 Sep 2010)

Brian Lenihan Jnr: The National Pensions Reserve Fund was established in 2001 under the National Pensions Reserve Fund Act 2000. The purpose in establishing the Fund was to meet 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. The Act provided for the establishment of the National Pensions Reserve Fund...

Written Answers — Public Service Staffing: Public Service Staffing (29 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. Table 1: Public Service Numbers at end-year 2000-2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 247,343 269,799 279,274 279,609 284,787 292,129 304,512 312,131 319,440 309,791 *Note that the above figures are on a whole-time equivalent basis, and are subject to...