Results 21,541-21,560 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I have been informed by the Revenue Commissioners that based on the information available the person is exempt from both Income Tax and Universal Social Charge. The person was notified of this in writing on 14 February 2012. An Amended Tax Credit Certificate – 2012 giving the same information was issued to the pension provider on 4 February 2012.

Written Answers — Departmental Staff: Departmental Staff (19 Apr 2012)

Michael Noonan: I am advised by the Revenue Commissioners they fill posts in accordance with Government policy on the civil service in place from time to time. The filling of such posts can be made internally by promotion, or externally, either by open recruitment, interdepartmental competition or redeployment from other public service bodies. The number of staff promoted following internal selection...

Written Answers — Bonds Markets: Bonds Markets (19 Apr 2012)

Michael Noonan: It has been stated repeatedly that the intention of the National Treasury Management Agency (NTMA) is to return to sovereign debt markets as soon as market conditions permit. In late January the Agency re-engaged with the bond market and extended the maturity of some €3.5 billion of debt which was due for repayment just after the end of the EU/IMF Programme. This is a significant first...

Written Answers — Social and Affordable Housing: Social and Affordable Housing (19 Apr 2012)

Michael Noonan: I am informed by NAMA that it engages with Local Authorities, through the Housing Agency, in relation to social housing. In December 2011, NAMA identified over 2,000 properties under the control of its debtors or receivers as being potentially suitable for social housing. I am advised by NAMA that interested housing authorities should contact the Housing Agency about potential social...

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

Michael Noonan: The advisory group on NAMA was set up to advise me on specific issues related to NAMA. The group's advice to me primarily relates to the strategy of NAMA as proposed by the board of NAMA; the appointment of directors to NAMA; the remuneration of the senior executives of NAMA and any further advice that I may seek on any matter relating to NAMA. I have met with the group on one occasion...

Written Answers — EU Treaties: EU Treaties (18 Apr 2012)

Michael Noonan: In relation to publication, the Taoiseach has given a commitment that legislative measures associated with the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (Stability Treaty) will be made publicly available in advance of the referendum. While a decision has yet to be taken on the publication date for the ESM Treaty ratification Bill it will be consistent...

Written Answers — Tax Collection: Tax Collection (18 Apr 2012)

Michael Noonan: I should point out that the Deputy has already received a reply to this question which was previously submitted for answer on 28 February 2012, Question Number 156 (PQ Reference 10896/12). On that basis, the reply which was provided on the 28 February 2012 is set out below: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: The Central Bank indicated in October 2011 that IBRC should not increase its usage of financing arrangements provided under open market operations with the ECB. At the end of 2011, IBRC had €2.1 billion borrowed under open market operations from the ECB. Furthermore the bank had €40.1 bn of Emergency Liquidity Assistance from the Irish Central Bank. The provision of this ELA by the...

Written Answers — Credit Union Regulation: Credit Union Regulation (18 Apr 2012)

Michael Noonan: The Commission on Credit Unions submitted its Report to me on schedule on the 31 March 2012. The Report was presented to Government yesterday and it was published this morning. I welcome the Report and commend the Commission for its professional approach to the review of the sector. The agreement of all Commission participants to recommendations on issues such as restructuring and a...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: As recently as last month – 29 March 2012 – I indicated to the Deputy, in response to his question on the matter, that I am not in a position to specify when the review will be completed. In the light of recent developments on redundancies issues I am presently considering how best to progress the review. I also indicated that I would not consider it appropriate to publish incomplete...

Written Answers — Tax Yield: Tax Yield (18 Apr 2012)

Michael Noonan: Tax revenue returned to growth in 2011 for the first time since 2007 and excluding some technical adjustments that have positively impacted on tax revenues, taxes are up an estimated €758 million (10.1%) year-on-year and are €351 million (4.4%) ahead of profile in the first quarter of 2012. It is encouraging to see that income tax is running marginally ahead of profile. The tax figures...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: There are significant advantages to the settlement of the March 2012 promissory note installment with the new Government bond including: · This payment was included in our debt repayment schedule for 2012 and this proposal removes the requirement for the exchequer to settle in cash, the €3.06 billion promissory note installment. · There is a significant cash flow benefit to the...

Written Answers — Household Debt: Household Debt (18 Apr 2012)

Michael Noonan: I propose to take Questions Nos. 18, 21, 28, 35 and 92 together. The Government is conscious of the significant difficulty some home owners are experiencing in meeting their mortgage obligations. This is an issue of the utmost concern and the Government is taking a number of significant measures to address the problem. However, the vast majority of homeowners wish and continue to meet...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: Settlement of the 2012 Promissory Note instalment to IBRC with a Government bond was not completed by end-March for the purposes of the Exchequer Statement. The end-March Exchequer Statement recorded activity up to and including the last working day of the month which was Friday 30th March. Under the terms of the Promissory Notes, as the due date for payment of 31st March fell on a...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (18 Apr 2012)

Michael Noonan: As a result of the March 2011 PCAR Irish Life and Permanent plc. t/a Permanent TSB ('PTSB') was required to raise total additional capital of €4 billion. In July 2011 €2.3 billion of this requirement was injected by way of a placing of shares to the Minister for Finance, leaving the Minister with his current holding of 99.24%. At this time a further €400 million was also injected into...

Written Answers — Tax Code: Tax Code (18 Apr 2012)

Michael Noonan: The pension fund levy was introduced for a temporary 4 year period in order to fund the measures introduced as part of the Jobs Initiative in May 2011. These measures include the new temporary reduced rate of VAT of 9%, aimed primarily at the tourism sector, the halving of the lower rate of employers PRSI and small additional amounts of current and capital expenditure. The levy raised €463...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: My Department is currently updating its macroeconomic and fiscal assessment for the forthcoming Stability Programme Update (SPU). The SPU will give an update of, amongst other things, the General Government deficit estimate for 2012, taking account of all of the latest available economic and fiscal data, both positive and negative. The SPU will be published at the end of the month. On foot...

Written Answers — Credit Union Regulation: Credit Union Regulation (18 Apr 2012)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: The Irish banks have been recapitalised to meet the requirements of the Central Bank of Ireland's 2011 Financial Measures Programme, which incorporated a 3 year stress test to 2013, and was among the most thorough and demanding such tests ever performed in Ireland or indeed anywhere. The Central Bank's 2011 stress test was fully endorsed by our external partners that the loan loss...

Written Answers — International Agreements: International Agreements (18 Apr 2012)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that the Memorandum of Understanding (MOU) signed between the National Treasury Management Agency (NTMA) and CIC International, a subsidiary of China Investment Corporation, China's sovereign wealth fund, provides that the parties will seek to work together in exploring investment opportunities in Ireland. The MOU builds on the...