Results 20,741-20,760 of 27,019 for speaker:Michael Noonan

Written Answers — Economic Policy: Economic Policy (5 Jul 2012)

Michael Noonan: I regularly meet with my EU and euro area counterparts to discuss fiscal, banking and economic issues affecting both the EU and the euro area. These typically take the format of scheduled monthly meetings of the Ecofin council and the Eurogroup. In addition, I participate in teleconferences of Finance Ministers when important issues arise that require immediate discussion. In relation to...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Job Creation: Job Creation (5 Jul 2012)

Michael Noonan: Heads of State or Government in the EU decided on a compact for growth and jobs at the European Council on 28th June. This involves action by Member States and at EU level in order to boost growth, investment and employment. Measures to be implemented at national level include the full implementation of the country-specific recommendations from the European Semester as well as pursuing...

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2012)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing arising from difficulty in meeting their mortgage commitments. The Deputy will be aware that the Interdepartmental Report on Mortgage Arrears indicated that the reform of personal insolvency legislation is a central catalyst to the resolution of the mortgage arrears problem. In particular, it...

Written Answers — Sovereign Debt: Sovereign Debt (5 Jul 2012)

Michael Noonan: The study referred to by the Deputy concerns one possible approach to the debt crisis that Europe is trying to deal with at the moment. The particular approach envisaged would involve the effective mutualisation of eurozone sovereign debt above the level of 60% of GDP. As the Deputy will be aware, the statement issued following the Euro Area Summit on 29 June envisages the European...

Written Answers — Tax Credits: Tax Credits (5 Jul 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the original Tax Credit Certificate was not correct. The person in question drew the matter to attention and a revised Tax Credit Certificate for 2012 issued on the 21st June. This revised certificate deleted the reference to pension made on the previous certificate. A balancing statement for the year 2011 will also issue shortly correcting any...

Written Answers — Financial Services Ombudsman: Financial Services Ombudsman (5 Jul 2012)

Michael Noonan: As the Deputy is aware, I do not comment on specific cases. However, I would advise that if an individual has made a formal complaint to the bank in question about the matter referred to and if they are not satisfied with the reply then I suggest that they contact the Financial Services Ombudsman in relation to this matter. The Financial Services Ombudsman is an independent office established...

Written Answers — Bank Debt Restructuring: Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: The Deputy will be aware that I have always stated that our problems are part of a wider European dilemma and any solution to address the Irish situation must be as part of an overall Eurozone/global solution. The recent shift in European policy in terms of breaking the vicious circle between the banks and the sovereign is to be welcomed and represents a major step forward. While the...

Written Answers — Tax Code: Tax Code (5 Jul 2012)

Michael Noonan: From 1 January 2012, the Revenue Commissioners have substantially modernised the operation of Relevant Contracts Tax (RCT). Key features of the new scheme are a streamlining of the processes for the submission of information and payments to Revenue and the introduction of a new RCT rate at the standard rate of 20%. The latter was designed to improve the cash-flow position of tax compliant...

Written Answers — Tax Collection: Tax Collection (5 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 61 and 62 together. The information requested by the Deputy in relation to the yield from Stamp Duty on residential and non-residential property, together with the numbers of duty paid transactions, is as set out in the following tables. As indicated below, a breakdown between residential and non-residential transactions is not available for 2010 and 2011....

Written Answers — Tax Collection: Tax Collection (5 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible to furnish precise figures of the VAT take from residential property transactions, as the information furnished on VAT returns does not require the yield from particular sectors of trade to be identified. However, based on data published by the Department of the Environment, Heritage and Local Government, the estimated yield...

Written Answers — Budget Targets: Budget Targets (5 Jul 2012)

Michael Noonan: Under the terms of the ECOFIN Council decision of December 2010, the State's General Government deficit must not exceed 8.6 per cent of GDP this year. This is the main quantitative budgetary target set for 2012. While there will inevitably be some pluses and minuses in the various revenue and expenditure areas, I am satisfied, primarily on the basis of the Exchequer Returns for the first...

Written Answers — Economic Competitiveness: Economic Competitiveness (5 Jul 2012)

Michael Noonan: Substantial progress has been made in terms of improving our competitiveness. Relatively lower price inflation over the last number of years means that Irish price levels have fallen relative to our major trading partners. At the same time there has been a significant improvement in our cost competitiveness. Indeed, the European Commission recently forecast that our nominal unit labour...

Written Answers — Tax Collection: Tax Collection (5 Jul 2012)

Michael Noonan: The performance of Exchequer tax revenues against target in the period to end-June is set out in the following table. Exchequer Tax Revenues End-June2012 Target€m End-June 2012Outturn €m Excess/ Shortfall €m Excess/Shortfall% Income Tax 6,846 7,061 215 3.1% VAT 5,160 5,189 29 0.6% Corporation Tax 1,706 1,980 274 16.1% Excise 2,244 2,209 -35 -1.6%...

Written Answers — Economic Growth: Economic Growth (5 Jul 2012)

Michael Noonan: Following three successive years in which output fell, positive growth returned to the Irish economy last year. The recovery is expected to continue this year, and to both broaden and gain ground in 2013. Over the medium term, a return to robust and more sustainable growth is foreseen. While exports are expected to continue supporting economic activity, a gradual pick-up in domestic demand...

Written Answers — National Asset Management Agency: National Asset Management Agency (5 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 73 and 74 together. I have advised the House previously that the NAMA Board has recently completed a review of its strategy in light of developments in the Irish economy and in the property markets since it published its first business plan in July 2010. Key factors considered by the Board as part of its strategic review include the performance of the various...

Business of Dáil (5 Jul 2012)

Michael Noonan: I so move.

Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: Last week's announcement following the euro area summit in Brussels represents a major shift in European policy in terms of breaking the link between recapitalising the banks and the sovereign, a policy change for which I have repeatedly pressed at European Union meetings. This message has been echoed by the Taoiseach, Tánaiste and other Ministers in meetings with their EU colleagues. The...