Results 21,081-21,100 of 27,019 for speaker:Michael Noonan

Written Answers — General Government Debt: General Government Debt (6 Jun 2012)

Michael Noonan: The information requested by the Deputy is available in the table set out below. The Exchequer balance figures for 2006-2010 are from the annual Finance Accounts. The 2011 figure is as per the end-December 2011 Exchequer Statement. The audited figure will be set out in the 2011 Finance Accounts which will be published later this year. The General Government Balance (GGB) figures for 2006...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jun 2012)

Michael Noonan: The tax exemptions for the travel pass scheme operates on two levels in order to ensure that the taxation benefits are given to employees. Firstly, where a travel pass is provided in addition to normal remuneration the taxable BIK that arises on its provision is exempt from tax in the hands of the employee under section 118(5A) of the Taxes Consolidation Act 1997. However, many travel pass...

Written Answers — Wage Rates: Wage Rates (6 Jun 2012)

Michael Noonan: At an aggregate level, my view is that over the medium term wages should move in line with productivity trends. In fact, one of the key problems in the past decade was that wage growth was far in excess of productivity gains. This undermined Ireland's competitive position and resulted in a sharp moderation in export growth from 2000 onwards. Encouragingly, however, some of this...

Written Answers — Mortgage Arrears: Mortgage Arrears (6 Jun 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 — European Stability Mechanism Fund: European Stability Mechanism Fund (6 Jun 2012)

Michael Noonan: The European Stability Mechanism (ESM) Treaty, was signed by Euro Area Member States on 2 February 2012. The original version of the treaty was signed on 11 July 2011, but it has been modified to incorporate decisions taken by the Heads of State and Government (HoSG) of the Euro Area on 21 July, 9 December 2011 and 2 March aimed at improving the effectiveness of the mechanism. In order to...

Written Answers — Ministerial Appointments: Ministerial Appointments (6 Jun 2012)

Michael Noonan: Since 1 March 2012, the following staff have been appointed to my Department: Grade Number of Staff Salary per annum Temporary Clerical Officer 4 €20,859 to €33,607 (on a 1 year contract) AO Graduate Recruits 2 €29,922 to €58,294 (1 Banking/Finance and 1 Economics)

Written Answers — Credit Access: Credit Access (6 Jun 2012)

Michael Noonan: Policy in relation to credit lending decisions in the bank referred to is a matter for the management and board of that institution. I have no role in the day-to-day commercial and operational decisions of the bank. Notwithstanding the fact that the State is a shareholder in the bank referred to, I must ensure that the bank is run on a commercial, cost effective and independent basis to...

Written Answers — Tax Collection: Tax Collection (6 Jun 2012)

Michael Noonan: The introduction of the USC, replacing the Income and Health Levies, reduced the top marginal tax rates for both PAYE and self-employed income earners by 4%. In the case of PAYE this allowed for the abolition of the PRSI ceiling and the restoration of the PAYE marginal rate to 52%. However, in the case of the self-employed, where there is no PRSI ceiling, the marginal rate remained reduced....

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: NAMA has advised me that it holds property as security adjacent to the business referred to in this case. A receiver was appointed to that property in March 2012. The receiver has indicated that he is not aware of any damage to properties adjoining those under his control. It may be more appropriate in this instance to contact the receiver, who is in control of the enforced property. A...

Written Answers — State Banking Sector: State Banking Sector (6 Jun 2012)

Michael Noonan: As the Deputy is aware the representations are received in a number of ways including representations through political representatives, from individuals directly, from legal representatives of clients of the bank etc. These representations are received through a number of channels including mail, e-mail and primarily by telephone contact. While the Department has records of written...

Written Answers — Strategic Investment Fund: Strategic Investment Fund (6 Jun 2012)

Michael Noonan: The Government announced the establishment of the Strategic Investment Fund (SIF) in September 2011. The SIF will channel commercial investment from the National Pensions Reserve Fund (NPRF) towards productive investment in the Irish economy. As well as money from the NPRF, the SIF will seek matching commercial investment from private investors and target investment in areas of strategic...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: NAMA debtors own property, which may include sites, in County Wicklow which is valued at €475 million by reference to a valuation date of November 2009. NAMA is prohibited by Sections 99 and 202 of the NAMA Act and by the normal rules of banking confidentiality from disclosing details relating to its debtors or their properties. The Deputy will also note that a number of properties...

Written Answers — Proposed Legislation: Proposed Legislation (6 Jun 2012)

Michael Noonan: The Government is conscious of the difficulties some homeowners are facing in meeting their mortgage commitments. In accordance with the conclusions of the Inter-Departmental Report on Mortgage Arrears, the key focus of attention is on the development of measures to assist people who are having genuine difficulty in meeting their mortgage payments as opposed to providing assistance for...

Written Answers — Tax Reliefs: Tax Reliefs (6 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that Section 462 of the Taxes Consolidation Act 1997 is the relevant legislation governing the one parent family credit. Section 462 (2)(c) of this Act provides that this credit shall not apply to a person who is cohabitating with another person. In this case, the taxpayer rang Revenue on 28th May 2012 and, in the course of the telephone conversation...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: The National Asset Management Agency has announced that it plans to invest up to €2 billion in development capital over the period to 2016 to preserve, enhance and complete commercial and residential projects and to develop Greenfield sites. NAMA have advised me that they are currently assessing a wide range of projects that may be suitable for development by reference to expected demand...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: I propose to take Questions Nos. 108 to 110, inclusive, together. NAMA have advised me that debtors own property in Meath which is valued at €500 million by reference to a valuation date of November 2009. A further breakdown of this figure into commercial and residential projects is not available at present. NAMA is prohibited by Sections 99 and 202 of the NAMA Act and by the normal rules...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: Information on NAMA's 80:20 Deferred Payment Initiative is available on NAMA's website, www.nama.ie, which confirms that 18 properties in Co. Meath were included in this pilot initiative. For reasons of debtor confidentiality, NAMA cannot confirm how many of these have been sold until such time as the pilot phase has been completed.

Written Answers — Tax Collection: Tax Collection (6 Jun 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the persons concerned have failed to file Income Tax returns for 2010 or VAT returns for 2011 or 2012 to date. In addition, Income Tax for 2007 and 2008 and Preliminary Tax for 2011 has not been paid. The persons concerned have recently been in contact with the Collector General's Office in relation to this matter. Arising from that contact,...

Written Answers — Endowment Mortgages: Endowment Mortgages (6 Jun 2012)

Michael Noonan: I have been informed by the Central Bank that where the proceeds of an endowment policy are insufficient to repay the capital element of an endowment mortgage, borrowers should be given ample time to make alternative repayment arrangements. In addition, borrowers are afforded the protections of the 'Code of Conduct on Mortgage Arrears' in cases where the mortgage is in arrears or in...

Written Answers — Mortgage Lending: Mortgage Lending (6 Jun 2012)

Michael Noonan: The decision on whether or not to grant individual mortgages remains a commercial decision for each individual lending institution and, as Minister for Finance, I have no function in such decisions. This is outlined in the Relationship Frameworks with the banks which provide that the State will not intervene in the day-to-day operations of the banks or their management decisions, including...