Results 21,841-21,860 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Code: Tax Code (27 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that their records indicate that this individual is not exempt from the Universal Social Charge (USC) based on the quantum of his income, as returned by his employer. An individual becomes liable for USC once their income, excluding social welfare payments, exceeds €10,036 per annum.

Written Answers — Tax Code: Tax Code (27 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 138 and 153 together. Ireland, as with other countries, has experienced an increase in the cost of petrol and auto-diesel. The increase in fuel prices is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices...

Written Answers — Haulage Sector: Haulage Sector (27 Mar 2012)

Michael Noonan: A fuel rebate system could not under EU law be restricted to Irish licensed hauliers but would have to be extended to all vehicles intended exclusively for the carriage of goods by road with a maximum permissible gross laden weight of not less than 7.5 tonnes. In addition, the rebate would have to include the carriage of passengers by a motor vehicle of category M2 or category M3 as defined...

Written Answers — National Asset Management Agency: National Asset Management Agency (27 Mar 2012)

Michael Noonan: I am advised by NAMA that it currently holds cash balances of €4.3 billion. NAMA have advised me that cash is either placed on deposit with approved counterparties or the Central Bank or it is invested in Qualifying Liquid Assets (Short-term Irish Government securities). It is necessary for NAMA to invest in highly liquid, lower risk and therefore lower yielding assets as NAMA must ensure...

Written Answers — National Asset Management Agency: National Asset Management Agency (27 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 141 and 142 together. NAMA issued a Guidance Note on Upward Only Commercial Leases on 6 December 2011. The Guidance Note was intended to deal with situations where tenants of NAMA debtors could show that the rents they were paying were in excess of current market levels and, as a result, the viability of their businesses was threatened. In such...

Written Answers — National Asset Management Agency: National Asset Management Agency (27 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 143 and 144 together. Properties under the control of receivers or other insolvency professionals appointed by NAMA are listed on its website at http://www.nama.ie/PropertiesEnforced.php. The site includes properties located in Mayo, including Castlebar and Mulranny. This list is searchable by region and is updated on a monthly basis. Where relevant,...

Written Answers — Consultancy Contracts: Consultancy Contracts (27 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 145 to 147, inclusive, together. The Deputy will be aware that Deloitte Consultants have been appointed to undertake an External Review of the €3.6bn General Government Debt issue. A fixed price of €50,000 has been agreed with the company; this is exclusive of VAT and any associated expenses which are capped at a maximum of 10% of the contract price. At...

Written Answers — Departmental Staff: Departmental Staff (27 Mar 2012)

Michael Noonan: The table outlines the number of positions that have been filled by promotion in my Department from Assistant Principal upwards since I took office on 9 March 2011. Under the Ministers and Secretaries Act, 2011, the Department of Public Expenditure and Reform was formally established on 6th July 2011. (My replies to previous Parliamentary Questions from the Deputy refer). Grade Number...

Written Answers — General Government Debt: General Government Debt (27 Mar 2012)

Michael Noonan: Buying out the West Link Toll Bridge in 2008 allowed the removal of the toll plaza on the Westlink and its replacement by a barrier free tolling arrangement which facilitated the upgrading of the M50, resulting in the State and the travelling public, rather than NTR, being the direct beneficiary of the tolls. The terms of the contract are that NTR will receive annual payments of €50...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Mar 2012)

Michael Noonan: Following the collapse of Home Payments (HPL) the Central Bank commenced an investigation into the matter. Home Payments Limited ('HPL') was not authorised or licensed by the Central Bank of Ireland ('Central Bank') and as such, customers of HPL are not eligible for recourse to statutory compensation. Joint liquidators have been appointed to HPL (KPMG and Leahy & Co.) and in relation to the...

Written Answers — State Banking Sector: State Banking Sector (27 Mar 2012)

Michael Noonan: The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff...

Written Answers — Tax Code: Tax Code (27 Mar 2012)

Michael Noonan: An annual stamp duty levy of 0.6% applies in each of the four years from 2011 to 2014, to the market value of assets under management in pension funds and pension plans approved under Irish tax legislation, including Occupational Pension Schemes, Retirement Annuity Contracts and Personal Retirement Savings Accounts. The value of most pension fund assets subject to the levy for 2011 was the...

Written Answers — Financial Services Regulation: Financial Services Regulation (27 Mar 2012)

Michael Noonan: Illegal money lending is a criminal offence and a matter for An Garda Síochána to investigate. Licensed moneylenders are subject to strict legislative requirements. In this regard, the following position applies: · Licensed moneylenders are subject to provisions in the Consumer Credit Act 1995 (the Act) and the Central Bank's Consumer Protection Code for Licensed Moneylenders (the ML...

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

Michael Noonan: Section 481 film relief is one of the longest running sector specific tax reliefs and was first introduced in the Finance Act of 1987 to support the indigenous film sector. Finance Act 2011 provided for a further extension of the scheme to the end of 2015 to afford a medium term certainty to the industry, which exists in a competitive international environment. The scheme makes a positive...

Written Answers — Tax Code: Tax Code (27 Mar 2012)

Michael Noonan: The Revised Estimates Volume, which was presented to the Oireachtas on 23 February, contains a full and detailed breakdown of every area of public spending. I should add that this year, the Book of Estimates includes an unprecedented amount of new material, making clear the outputs and impacts that the public is seeing as a result of this expenditure. This new initiative is in keeping with...

Written Answers — Currency Exchange: Currency Exchange (27 Mar 2012)

Michael Noonan: Irish pound notes and coins ceased to be legal tender with effect from 9 February 2002. Of the Irish pound notes and coins remaining in circulation at that point, IR£185m in banknotes and IR£98m in coin had not been converted to euro by 15 March 2012 and remain outstanding. This represents 7.5% of the total amount of Irish pound notes and coins in circulation at end 2001. Irish pound...

Written Answers — Currency Circulation: Currency Circulation (27 Mar 2012)

Michael Noonan: The information requested by the Deputy is set out as follows: Value (IR£m) 1995 1996 1997 1998 1999 2000 2001 Circulation of Irish Pound Coin 165.05 180.71 202.14 222.87 255.04 295.11 305.48 Circulation of Irish Pound Notes 1,926.50 2,105.94 2,416.38 2,816.00 3,562.81 3,935.51 3,421.02

Written Answers — National Lottery Funding: National Lottery Funding (27 Mar 2012)

Michael Noonan: My Department does not receive any funding from the National Lottery.

Written Answers — Appointments to State Boards: Appointments to State Boards (27 Mar 2012)

Michael Noonan: In response to the Deputy's question in the period in question 5 appointments made to the Fiscal Advisory Council. Of the five members appointed four were males including the Chairperson. In respect of the Irish Banks Resolution Corporation two new members were appointed as Directors both of whom were males. Currently there are eight directors sitting on the board all of whom are males. In...

Written Answers — Departmental Equipment: Departmental Equipment (27 Mar 2012)

Michael Noonan: IT is now provided on a shared service basis between the Department of Public Expenditure & Reform and the Department of Finance. There are 55 laptops and 1 tablet in use across the two Departments. Laptops are not upgraded, they are replaced when they fail.