Results 20,201-20,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Code (3 Oct 2012)

Michael Noonan: It became clear at the ECOFIN meeting in June that the European Commission’s proposal for an EU-wide Financial Transactions Tax (FTT) would not be agreed, and those countries who favour the tax will now try to introduce it by way of "enhanced co-operation", under which at least nine countries must participate. This requires those countries to write to the Commission asking it to...

Leaders' Questions (2 Oct 2012)

Michael Noonan: The Fianna Fáil handbook.

Written Answers — Department of Finance: Tax Reliefs Availability (2 Oct 2012)

Michael Noonan: It would be difficult to justify the introduction of additional tax reliefs for the disabled that would only apply to the self employed. However, I would point out that if an individual is in receipt of certain disability payments, they may be allowed to do work or training and keep their payment or part-payment on the grounds that it is considered rehabilitative or therapeutic. People with...

Written Answers — Department of Finance: European Investment Bank Loans (2 Oct 2012)

Michael Noonan: The purpose of this loan from the European Investment Bank (EIB) is to assist in funding the Department of Education and Skills’ capital investment programme. This loan will provide funding for the planned exchequer schools building programme, which involves the construction and upgrading of primary and secondary schools across the country. The EIB loan substitutes for other sources...

Written Answers — Department of Finance: Credit Availability (2 Oct 2012)

Michael Noonan: I have been informed that Permanent TSB continues to offer loans to new and existing customers, albeit at reduced volumes at present and that the bank’s credit policy now includes more robust assessment criteria than would have applied in the past. In the first six months of 2012 the bank advanced approximately €100m in new lending, as reported on Page 6 of the recently...

Written Answers — Department of Finance: Tax Code (2 Oct 2012)

Michael Noonan: I am advised by the Revenue Commissioners that rental income received by a property owner who is resident or ordinarily resident in the State from property located outside the State is taxable here under the provisions of the Taxes Consolidation Act 1997. Taxable rents from such property are generally computed on the full amount of the rent arising, after deducting allowable expenditure,...

Written Answers — Department of Finance: Tax Reliefs Cost (2 Oct 2012)

Michael Noonan: The following is the information requested insofar as it is available. Any estimates provided are calculated on the basis that each change mentioned in the question is taken in isolation. Reducing tax relief on pension contributions to the standard rate. I assume the Deputy is referring to individual pension contributions, the tax relief on which is allowed at the taxpayer’s...

Written Answers — Department of Finance: Departmental Staff Allowances (2 Oct 2012)

Michael Noonan: The following table outlines the details of allowances paid out to weekly and fortnightly paid staff in my Department in pay period 201239. As the allowances paid are not specific to my Department, no business case was made to the Department of Public Expenditure and Reform. Pay Code Description Total Child Allowance €60.62 Cost of Living Allowance €342.58 Delegates...

Written Answers — Department of Finance: Tax Yield (2 Oct 2012)

Michael Noonan: I am informed by the Revenue Commissioners that it is estimated that a €1 increase in excise duty on a bottle of wine would yield in the region of €59.8m and that a 50 cent increase in excise duty on a packet of cigarettes would yield in the region of €81.3m.

Written Answers — Department of Finance: Insurance Costs (2 Oct 2012)

Michael Noonan: At the outset the Deputy should note that neither I as Minister for Finance nor the Central Bank can prohibit or restrict an insurance company from increasing its annual premium rates, as this is a commercial decision for the company in question. Therefore it is not possible to introduce measures which will direct insurance companies to price in a particular way in response to the European...

Written Answers — Department of Finance: Tax Credits (2 Oct 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that all the tax credits of the person in question have been allocated to his and his spouse’s current employments. The taxpayer did not apply for a tax credit certificate in respect of the pension payment and accordingly the pension provider correctly operated the emergency basis of tax deduction on the pension payment. Revenue has...

Written Answers — Department of Finance: Financial Services Regulation (2 Oct 2012)

Michael Noonan: The Central Bank has informed me 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 provision of payment services or Part V of the Central Bank Act 1997 (as amended)...

Written Answers — Department of Finance: Price Inflation (2 Oct 2012)

Michael Noonan: Comparative consumer price level data across the EU are published by Eurostat. The data show that in 2011 Irish consumer price levels were around 17% higher than the EU27 average. Price levels in the UK were 2% higher than the EU average, implying that, broadly speaking, price levels in Ireland last year were around 15% higher than in the UK. This, however, compares with a gap of around...

Written Answers — Department of Finance: Tax Yield (2 Oct 2012)

Michael Noonan: As the Deputy may be aware the Department of Finance now has a publicly available databank on its website with comprehensive tax data where this information can be found (http://databank.finance.gov.ie/). Similarly GDP data can be found on the CSO website (www.cso.ie ). The information requested by the Deputy is provided as follows. Year Total Tax (€m) GDP (€m) Total...

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The information requested by the Deputy is provided as follows. NIE National Debt GDP current Prices National Debt as % GDP 1992* 33450 40,489 83% 1993* 36006 43,605 83% 1994* 37111 46,864 79% 1995 38358 53,787 71% 1996 37980 58,894 64% 1997 38966 68,154 57% 1998 37510 78,685 48% 1999 39851 90,683 44% 2000 36511 105,775 35% 2001 36183...

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The data requested by the Deputy for the period 1992-2011 is set out in the table. For consistency, the figures are presented in millions of euro. The Deputy might like to know that almost all of the data is contained in my Department’s Budgetary & Economic Statistics publication, the most recent edition of which was published in September 2011. The September 2011 and earlier...

Written Answers — Department of Finance: Household Debt Statistics (2 Oct 2012)

Michael Noonan: Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household income are taken from the quarterly Institutional Sector...

Written Answers — Department of Finance: Household Debt Statistics (2 Oct 2012)

Michael Noonan: Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household disposable income are taken from the quarterly...

Written Answers — Department of Finance: Pension Provisions (2 Oct 2012)

Michael Noonan: Additional Voluntary Contributions (AVCs) may be made by employees in addition to any regular or compulsory contributions which they may make to their pension scheme. AVCs are eligible for tax relief at the employee’s marginal rate of income tax in the same way as regular contributions subject to the application of the annual earnings and age-related percentage relief limits which...

Written Answers — Department of Finance: Mortgage Interest Rates (2 Oct 2012)

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