Results 20,021-20,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Budget 2013 (9 Oct 2012)

Michael Noonan: I assume the Deputy is referring to Budget 2013 and on that basis I can advise him that I have received no such requests to date.

Written Answers — Department of Finance: Banking Operations (9 Oct 2012)

Michael Noonan: AIB has informed me that it is working with An Post on expanding its existing relationship to offer enhanced services, specifically cheque lodgements for personal and business customers, in c. 100 Post Offices in branch closure locations. The enhanced service does not include access to night safe facilities in Post Offices. Night safe facilities will continue to remain available in AIB's...

Written Answers — Department of Finance: Banking Operations (9 Oct 2012)

Michael Noonan: I assume that the Deputy is referring to the closure of the local AIB branch in Collooney. While I regret the closure of any bank branches, the Deputy will no doubt appreciate that the provision of services by banks, including the location of branches, is a commercial decision for the banks. Notwithstanding the fact that the State is a significant shareholder in some banks, it is imperative...

Written Answers — Department of Finance: NAMA Receivers (9 Oct 2012)

Michael Noonan: I am advised that staff of the National Asset Management Agency (NAMA) are employees of the National Treasury Management Agency (NTMA) who are assigned as officers of NAMA under the NAMA Act. In keeping with their obligations to their staff, including obligations under the Data Protection Acts, NTMA has been legally advised not to comment publicly on disciplinary matters.

Written Answers — Department of Finance: Tax Reliefs Cost (9 Oct 2012)

Michael Noonan: I am advised by The Revenue Commissioners that there are no outstanding claims from the person concerned requesting a refund under Med 1. The last claim was for 2011, which was submitted on the 24th January 2012. This claim was processed on 14th February 2012. The refund in the form of a cheque issued the following day, which was subsequently cashed.

Written Answers — Department of Finance: Financial Services Regulation (9 Oct 2012)

Michael Noonan: As I mentioned in reply to Parliamentary Question No 118 of 2 October 2012, I have been advised by the Central Bank that the company referred to by the Deputy is not currently regulated by the Bank. The Bank is currently engaging with debt management firms to assess if their business models fall within the scope of the European Communities (Payment Services) Regulations 2009 regarding the...

Written Answers — Department of Finance: Mortgage Repayments Issues (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, that the Government is very conscious of the difficulties some homeowners are facing in meeting their mortgage commitments. The Central Bank, both from a consumer protection and prudential regulation perspective, has a very significant role to play in addressing the problem of mortgage arrears. With regard to consumers in arrears or in danger of going into...

Written Answers — Department of Finance: Insurance Coverage (9 Oct 2012)

Michael Noonan: An interdepartmental working group has been established in relation to the matter of compensation for businesses affected by the recent flooding in Cork. This working group, which has representation from the Department of Finance, the Department of the Environment, Community and Local Government and the Department of Public Expenditure and Reform, is exploring the practicalities surrounding...

Written Answers — Department of Finance: Mortgage Interest Relief Application (9 Oct 2012)

Michael Noonan: The Revenue Commissioners administer mortgage interest relief through the Tax Relief at Source [TRS] system. The 30% rate of mortgage interest relief, applicable to people who took out their first qualifying home loan between 2004 and 2008, came into effect with the enactment of the Finance Act 2012. The regulations provide for the granting of the relief due to the borrower by the lender...

Written Answers — Department of Finance: Banking Sector Staff Issues (9 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 167, 168 and 172 together. As the Deputy will be aware this Government has not appointed any public interest directors to the boards of the Covered Banks since taking office. The dates that the existing public interest directors were appointed are shown in the table below. The legal position is that any director appointed to the board of the covered...

Written Answers — Department of Finance: Bank Charges (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Bank of Ireland’s policies in relation to lending rates is a matter for the board and management of the institution. Notwithstanding the fact that the State is a significant shareholder, I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as set out in the...

Written Answers — Department of Finance: Vehicle Registration Issues (9 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the specification for the identification mark (the “registration plate”) that must be displayed on vehicles is contained in the Vehicle Registration and Taxation (Amendment) Regulations, 1999 (Statutory Instrument No. 432 of 1999). These Regulations do not permit the application of special arrangements in relation to the...

Written Answers — Department of Finance: Tax Reliefs Availability (9 Oct 2012)

Michael Noonan: The most recent year for which detailed information is available on the number of taxpayers availing of income tax relief in respect of employing a person to take care of an incapacitated individual is for income tax year 2010. In that year an estimated 1,620 taxpayers benefited from the relief at an estimated cost to the Exchequer of €6.9 million. The numbers availing represent...

Written Answers — Department of Finance: Banks Recapitalisation (9 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Irish banks were required to raise €24.0bn in capital following the 2011 Prudential Capital Assessment Review (PCAR) in order to remain above a minimum capital target of 10.5% Core Tier 1 in the base scenario and 6% Core Tier 1 in the stress Scenario. The Central Bank made its decision on required recapitalisation based on loan-loss projections along...

Written Answers — Department of Finance: Mortgage Interest Rates Issues (9 Oct 2012)

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to interest rates is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...

Written Answers — Department of Finance: Bank Guarantee Scheme (9 Oct 2012)

Michael Noonan: AIB has informed me that the Bank has not availed of ELA facilities since H1 2011. Therefore no drawings of ELA funding were required in respect of the €1bn senior unsecured bond repayment of 2 October 2012. The bond repayment was effected from the bank's holding of liquid assets.

Written Answers — Department of Finance: Tax Yield (9 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 176 and 186 together. I am advised by the Revenue Commissioners that individuals who are not resident in Ireland for tax purposes, are liable to income tax in respect of income earned in Ireland (e.g. income from rental properties; income from a trade, profession or employment; fees from directorships), capital gains tax (CGT) in respect of gains from the...

Written Answers — Department of Finance: State Banking Sector Regulation (9 Oct 2012)

Michael Noonan: The AIB and Irish Life & Permanent Relationship Frameworks referenced were published on the Department of Finance website on 30 March 2012 and as previously advised to the Deputy are available at the following links: http://banking.finance.gov.ie/wp-content/uploads/Allied-Iris h-Banks1.pdf and http://banking.finance.gov.ie/wp-content/uploads/Irish-Life- and-Permanent1.pdf. The matters...

Written Answers — Department of Finance: Bank Debt Restructuring (9 Oct 2012)

Michael Noonan: The Government is of the view that it would not be in Irish interests to have AIB fail to meet a senior debt repayment obligation, be it to private investors or the Eurosystem. Furthermore and as the Deputy will be aware, any bank accessing standard or non-standard liquidity assistance from the European Central Bank is required to pledge collateral in return for funding. In any event AIB has...

Written Answers — Department of Finance: Bank Charges (9 Oct 2012)

Michael Noonan: The Deputy will be aware that the Bank’s policy in relation to interest rates is a matter for the management and board of the institution. I have no role in the day-to-day commercial and operational decisions of the banks, which include these matters. These decisions are taken by the board and management of the institution. Notwithstanding the fact that the State is a significant...