Results 20,501-20,520 of 27,019 for speaker:Michael Noonan

Written Answers — Sovereign Debt: Sovereign Debt (19 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 69 and 70 together. There has been speculation for some time now about the extent of the European Central Bank's (ECB) purchases of sovereign debt on the secondary markets. The Central Bank of Ireland maintains the register of holders of Irish Government bonds. As I outlined to the Deputy in response to a similar question back in February, I am informed by...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (19 Jul 2012)

Michael Noonan: I have been advised that confidential and legally privileged reports in relation to Irish Nationwide Building Society (INBS) have been provided to the Central Bank of Ireland (CBI) as the relevant regulatory authority for a building society. This information was relayed to the Gardaí. The Office of the Director of Corporate Enforcement regulates and enforces the Companies Acts and...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (19 Jul 2012)

Michael Noonan: I have been informed by the National Treasury Management Agency (NTMA) that the members of the NTMA senior management team waived any consideration for performance-related pay in respect of 2011 (as they did previously in respect of 2010). The NTMA made performance-related payments to five key staff in respect of 2011. These payments in aggregate totalled €62,610. This compares with...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2012)

Michael Noonan: The amount of senior bonds, secured and unsecured, repaid since the original bank guarantee of September 2008 to date in 2012 and the amount that remain unpaid at the present time are shown in the table below:- Maturities since 30 Sept 2008(€bn) Outstanding Balance(€bn) Secured Senior Bonds Unsecured Senior Bonds Secured Senior Bonds Unsecured Senior Bonds AIB 4.8 24.4 5.0 7.3 BOI*...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (19 Jul 2012)

Michael Noonan: In aggregate, the losses imposed to date on subordinated bondholders at the covered institutions since the introduction of the original bank guarantee in September 2008 is €13.9bn. The total gains from all Liability Management Exercises (LMEs) if one includes debt for equity swaps etc. in the same period is €15.5bn. A breakdown of the losses by institution was given in reply to...

Written Answers — Exchequer Deficit: Exchequer Deficit (19 Jul 2012)

Michael Noonan: The most recent Exchequer deficit estimates for the years 2013-2015 were presented in the April 2012 Stability Programme Update. They are also set out in the table below. The National Treasury Management Agency (NTMA) advises me that a list of outstanding Irish Government bonds can be accessed on its website. Outstanding Irish Government bonds due to mature over the period 2013-2015, as...

Written Answers — Tax Code: Tax Code (19 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the annual cost to the exchequer of the changes mentioned in the question are estimated as follows: Reduction Petrol €m Diesel €m 5c 80 98 10c 162 197 20c (18.33c diesel) 327 365 It should be noted that maximum decrease permissable for diesel is 18.33 cent. Accordingly the...

Written Answers — Tax Reliefs: Tax Reliefs (19 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the full year saving to the Exchequer from standard rating the income tax relief for donations to charities and other approved bodies would be of the order of €20 million.

Written Answers — Tax Reliefs: Tax Reliefs (19 Jul 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides for a scheme of tax relief for donations to eligible charities and other approved bodies. The precise arrangements for allowing tax relief on donations varies depending on whether the donor is a PAYE taxpayer, a person subject to self-assessment or a company. For PAYE-only taxpayers, the relief is given on a "grossed-up" basis to the...

Written Answers — Tax Reliefs: Tax Reliefs (19 Jul 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides a scheme for tax relief on donations to eligible charities and other approved bodies. The administration of the scheme is the responsibility of the Revenue Commissioners. The precise arrangements for allowing tax relief on donations vary depending on whether the donor is a PAYE taxpayer only, a chargeable person subject to...

Written Answers — Tax Reliefs: Tax Reliefs (19 Jul 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 (TCA 1997) provides for a scheme for tax relief on donations to approved bodies. The list of approved bodies for the purposes of section 848A, which includes eligible charities, bodies approved for education in the arts and eligible primary, secondary and third level institutions, is included in Schedule 26A of TCA 1997. I am informed by...

Written Answers — Tax Collection: Tax Collection (19 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that by virtue of their obligation to observe taxpayer confidentiality they are not in a position to provide information on this matter. The Commissioners have informed me that when Deputies make representations or ask Parliamentary Questions on behalf of individual taxpayers there must be, and generally there is, sufficient evidence to reasonably...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (19 Jul 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the total value of the Fund at 31 March 2012 was €15.1 billion and that the value of the Discretionary Portfolio was €5.8 billion. In announcing the Strategic Investment Fund (SIF) initiative in September 2011, the Government indicated a refocusing of the investments...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Jul 2012)

Michael Noonan: As the Deputy will be aware, the Euro Area Summit Statement of 29th June affirmed that it is imperative that the vicious circle between banks and sovereigns be broken. In addition, the Eurogroup Statement of 9th July stated that in order to break the vicious circle between banks and sovereigns, technical discussions on the future ESM direct recapitalisation instrument will start in...

Written Answers — Revenue Commissioners Investigations: Revenue Commissioners Investigations (19 Jul 2012)

Michael Noonan: For reasons of taxpayer confidentiality the Revenue Commissioners do not comment on or provide information in relation to the tax affairs of any particular individual or group of individuals. However, I assume the Deputy's question is based on a newspaper report of 8 July 2012. I am informed that enquiries in relation to this matter are ongoing at present and the Revenue Commissioners are not...

Written Answers — National Asset Management Agency: National Asset Management Agency (19 Jul 2012)

Michael Noonan: I am advised by NAMA that fees are not paid to receivers directly by banks or NAMA rather they are paid out of the proceeds of assets under receivership or the management thereof pending realisation. NAMA also advises that the costs incurred through the appointment of receivers to NAMA-managed debtor connection assets are as follows: 2010: €2 million 2011: €10.3 million The figure...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Jul 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the NPRF, that the total value of the National Pensions Reserve Fund (NPRF) at 30 June 2012 was €13.9 billion, made up as follows – · the Discretionary Portfolio, the investment of which remains the Commission's responsibility, was valued at €5.8 billion (41.7% of total); · the Directed Portfolio, investments in...

Written Answers — Bond Markets: Bond Markets (19 Jul 2012)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that it is the stated intention of the Agency to return to the capital markets as soon as circumstances permit. The conditions to allow for a successful return to the markets include the continued implementation of the programme agreed with the EU-IMF and progress in resolving the sovereign debt and banking crises in Europe. Our...

Written Answers — Bank Debt Restructuring: Bank Debt Restructuring (19 Jul 2012)

Michael Noonan: As I have stated on several occasions since the end-June euro area summit, including in responses to parliamentary questions and during last week's press conference at the end of the latest EU/IMF quarterly review mission, the amount of banking debt which could be considered as part of the discussions around breaking the link between recapitalising the banks and the sovereign will be...

Written Answers — Departmental Correspondence: Departmental Correspondence (19 Jul 2012)

Michael Noonan: I have no plans to publish records of the type mentioned in the Deputy's question. It is normal practice for states to protect the confidentiality of deliberations with international bodies particularly where sensitive issues are involved. Reflecting this principle the Freedom of Information Act provides for exemptions from release of records relating to, for example, negotiations with...