Results 20,841-20,860 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Jun 2012)

Michael Noonan: SI 395 of 1992 requires every credit institution to have robust governance arrangements taking into account the technical criteria set out in Annex V to the Capital Requirements Directive (Directive 2006/48/EC). Under Annex V, credit institutions are required to adopt policies and processes to evaluate and manage exposures to operational risk, including low-frequency high-severity events....

Written Answers — European Council Meetings: European Council Meetings (28 Jun 2012)

Michael Noonan: At last week's ECOFIN meeting it became clear that EU-wide unanimity on the Commission's Financial Transactions Tax (FTT) proposal would not be achieved and a number of member states will now seek EU agreement to introduce an FTT on an "enhanced co-operation" basis. Ireland opposes enhanced co-operation in tax matters and will not be one of the enhanced co-operation countries. However, I...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Jun 2012)

Michael Noonan: I am advised by NAMA that for a debtor to avail of bankruptcy in any given jurisdiction he/she must first of all establish that jurisdiction as his/her centre of main interest (COMI). The establishment of COMI is a matter for the relevant authorities in the jurisdiction in which bankruptcy is sought. NAMA further advises that in its position as a secured creditor it is generally neutral on...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (28 Jun 2012)

Michael Noonan: As the Deputy is aware four senior, unsecured and unguaranteed bonds with a total value of €1.1bn fall due for redemption by IBRC this week. This senior debt, unsecured as it is, is an obligation of the bank and the bank will redeem the bonds as they fall due. Following the redemption of the four bonds this week IBRC will have approximately €160m in unsecured, unguaranteed bonds which are...

Written Answers — Personal Public Service Numbers: Personal Public Service Numbers (28 Jun 2012)

Michael Noonan: I have been informed by the Revenue Commissioners that they were aware two PPS numbers were in use but they had been linked in their records. However, the numbers have now been consolidated under the Department of Agriculture number and the Department of Social Protection has been informed of this.

Written Answers — Mortgage Protection Policies: Mortgage Protection Policies (28 Jun 2012)

Michael Noonan: I have been informed by the Financial Services Ombudsman that, since 1 January 2007, his Office has received the following number of complaints in relation to mortgage protection insurance policies: Year Total number of complaints received 2007 91 2008 80 2009 129 2010 182 2011 200 2012 (to date) 88 As the Deputy will be aware, the Ombudsman is independent in...

Written Answers — Job Assist Scheme: Job Assist Scheme (28 Jun 2012)

Michael Noonan: Sections 472A and 88A of the Taxes Consolidation Act 1997 provide tax incentives for both employers and employees, to help the long-term unemployed to return to employment. The relevant information available in relation to the numbers of employees and employers who availed of the Revenue Job Assist scheme for the income tax years 2010 and 2011 respectively, the latest years for which the...

Written Answers — Departmental Staff: Departmental Staff (28 Jun 2012)

Michael Noonan: The management of sick leave is taken most seriously in my Department, and the procedures in place, and entitlements to sick leave (including the applicable limits), are as set out in my Department's Circular 09/2010 - Management of Sick Leave. Sick leave absences and any patterns emerging are monitored and analysed through my Department's Human Resources Management System (HRMS), using...

Written Answers — Public Sector Reform: Public Sector Reform (28 Jun 2012)

Michael Noonan: The Integrated Progress Report on the Action Plan for my Department and its agencies under the Croke Park Agreement is available on www.finance.gov.ie. It outlines the summary of main progress achieved in the 12 month period 1 April 2011 to 31 March 2012 among them being the appointment of a new Secretary General in March 2012. Following this appointment, the Department was restructured. ...

Written Answers — Credit Availability: Credit Availability (27 Jun 2012)

Michael Noonan: The Central Bank publishes quarterly figures on credit advanced by Irish resident credit institutions to Irish resident SMEs. The figures are available to download at http://www.centralbank.ie/polstats/stats/cmab/Pages/Business Credit.aspx and the latest table is also attached. In relation to the total outstanding stock of loans to SMEs, there are three figures for consideration, as shown...

Written Answers — Credit Availability: Credit Availability (27 Jun 2012)

Michael Noonan: As the Deputy is aware, the banking system restructuring plan creates capacity for the two Pillar Banks, Bank of Ireland and AIB, to provide lending in excess of €30 billion in the period 2011-2014. SME and new mortgage lending for these banks is expected to be in the range of €16-20bn over this period. This lending capacity is incorporated into the banks' deleveraging plans which allow...

Written Answers — Additional Voluntary Contributions: Additional Voluntary Contributions (27 Jun 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 determine...

Written Answers — Tax Credits: Tax Credits (27 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that they have received correspondence dated 11 June 2012 in respect of the named person (details supplied) in County Westmeath. In relation to the claim for incapacitated child tax credit, further medical information is required in order to determine if this credit is due. A letter has issued to the parents concerned requesting this information.

Written Answers — Tax Reliefs: Tax Reliefs (27 Jun 2012)

Michael Noonan: My reply is based on the understanding that your query relates to the tax reliefs available to an individual who owns a dwelling and has rented it out and is also in the process of building a new dwelling that is to be used as his or her principal private residence. I am informed by the Revenue Commissioners that a person in receipt of rental income is assessed to income tax on the profit...

Written Answers — Ministerial Transport: Ministerial Transport (27 Jun 2012)

Michael Noonan: In response to the Deputy's question the amounts spent on ministerial transport by my Department in the period in question are as follows: 2009 Approximately €6,942 was spent by my Department on ministerial transport in 2009. €6,337 was spent in relation to the provision of transport for my predecessor Minister Lenihan while attending various meetings held in Brussels, Paris, London,...

Written Answers — Pension Provisions: Pension Provisions (26 Jun 2012)

Michael Noonan: The submission referred to in the question is a copy of a letter on behalf of the trustees of a pension scheme to a retired scheme member outlining proposed adjustments to his pension on foot of the pension fund levy introduced last year for a period of 4 years. The payment of the levy is treated as a necessary expense of a pension scheme and the trustees or insurer, as appropriate, are...

Written Answers — Tax Code: Tax Code (26 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 159 and 160 together. I am advised by the Revenue Commissioners that the full year yield, estimated by reference to the income tax year 2012, from imposing a further income levy of 1% on all income that is currently liable to the Universal Social Charge (USC) would be of the order of €760 million. If the new 1% levy is confined to incomes in excess of...

Written Answers — Disabled Drivers: Disabled Drivers (26 Jun 2012)

Michael Noonan: I would draw the Deputy's attention to the fact that the criteria relating to the engine size of a vehicle and the relief available for vehicles which qualify under the Disabled Drivers Passenger Scheme have been in place since 1989. The purpose of the scheme was to provide for ways in which people with a physical disability could become more mobile; it is felt that the present limit of...

Written Answers — Disabled Drivers: Disabled Drivers (26 Jun 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Section 134(3) of the Finance Act 1992 (as amended) and Statutory Instrument No: 353 of 1994 (Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (as amended) provide for permanent relief from the payment of specified maximum amounts of VAT and VRT for persons registered under the scheme. The legislation states that...

Written Answers — EU-IMF Programme: EU-IMF Programme (26 Jun 2012)

Michael Noonan: Under Ireland's EU-IMF Programme, which is due to expire at the end of 2013, a total of €67.5 billion in loans will be provided from EU facilities, bilateral loans and the IMF. At the 15th of June 2012, Ireland's liabilities under the EU/IMF Programme amount to €51 billion. In relation to the details of moneys drawn down to date from the EU-IMF programme; the dates on which the...