Results 22,581-22,600 of 27,019 for speaker:Michael Noonan

Written Answers — EU-IMF Programme: EU-IMF Programme (31 Jan 2012)

Michael Noonan: Table 2.1 on page 20 of the Medium-Term Fiscal Statement outlines the amount of consolidation required over the period 2012-2015 to meet the targets agreed under the EU/IMF Programme – link: http://budget.gov.ie/budgets/2012/Documents/Medium%20Term%20 Fiscal%20Statement%20November%202011.pdf Technical General Government Deficit Projections and Amount of Consolidation Required to Achieve...

Written Answers — Tax Collection: Tax Collection (31 Jan 2012)

Michael Noonan: I am advised by the Revenue Commissioners that, where telecommunications providers incorrectly apply VAT to charitable donations made via SMS text messages, as distinct from applying it to any fees charged by them, VAT legislation allows for the telecommunications providers to refund to their customers the VAT overcharged, provided that their systems and records are capable of identifying the...

Written Answers — Revenue Commissioners: Revenue Commissioners (31 Jan 2012)

Michael Noonan: The Revenue Commissioners have provided me with a table in relation to the information sought by the Deputy: Table 1: Head count* of Revenue staff, by grade, gender and age at 31/12/11. Age Grade Gender 20-29 30-39 40-49 50-59 Over 60 Grand Total PO F 7 7 17 2 33 M 3 11 64 6 84 PO Total 10 18 81 8 117 AP F 2 29 34 62 6 133 M 2 4 55 201 24 286 AP Total 4 33 89 263 30 419 HEO/AO F 10...

Written Answers — Customs and Excise: Customs and Excise (31 Jan 2012)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of taxes and duties and for tackling the smuggling of dutiable and prohibited goods, including tobacco products and narcotics, that they regard anti-smuggling prevention as a high priority area. The use of enforcement equipment such as mobile x-ray scanners, Revenue cutters and other detection technologies is...

Written Answers — Financial Services Regulation: Financial Services Regulation (31 Jan 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 role...

Written Answers — Tax Reliefs: Tax Reliefs (31 Jan 2012)

Michael Noonan: As I stated in my Budget speech, the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008. The technical detail of the legislation is currently being prepared for the Finance Bill and I will take the highlighted...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (31 Jan 2012)

Michael Noonan: As the Deputy is aware I am not in a position to provide a list of the bondholders who were repaid the gross payment of €1.25 billion. I am advised that the process of issuing new bonds is normally through underwriting, where one or more securities firms or banks form a syndicate buying the entire bond issue from the issuer and then re-selling to investors. Primary issuance is arranged by...

Written Answers — European Council Meetings: European Council Meetings (31 Jan 2012)

Michael Noonan: The Economic and Financial Affairs Council (Ecofin) usually meets monthly, although it can meet more frequently, if required. Formal Ecofin meetings are held in Brussels or Luxembourg; informal Ecofin meetings are convened in the country holding the six-monthly Presidency (usually April and October). Separately to the Ecofin meetings, Eurogroup meetings usually take place on the evening...

Written Answers — Tax Code: Tax Code (31 Jan 2012)

Michael Noonan: The Deputy will be aware that Ireland has the highest prices and excise duty levels for cigarettes in the EU and already applies a high specific duty element and a low ad valorem element in setting its excise duty for cigarettes relative to other Member States. However the question of re-balancing the excise tax structure will be examined in the context of the 2012 Finance Bill.

Written Answers — EU Directives: EU Directives (31 Jan 2012)

Michael Noonan: I am informed by the Central Bank that it does not see any material near-term impact on banks' capital levels or on their ability to work with mortgage holders in arrears from the draft Capital Requirements Directive provision on the definition of default (Article 174). In the current Capital Requirements Directive (Directive 2006/48/EC), which Ireland transposed through SI No.661 of 2006,...

Written Answers — Programme of Financial Support: Programme of Financial Support (31 Jan 2012)

Michael Noonan: To date, Ireland's nominal borrowings from the European Financial Stabilisation Mechanism and the European Financial Stability Facility under the EU/IMF Programme amount to €38.2 billion. The following table, provided by the NTMA, sets out the loans drawn down to date from each source under the EU-IMF programme of financial support for Ireland along with the interest rate for these loans....

Written Answers — National Anthem: National Anthem (31 Jan 2012)

Michael Noonan: In response to the Deputy's question, I have previously provided a response to a question put down by the Deputy on 11 May 2011 (ref: 10806/11) in relation to the translated version of the National Anthem that is commonly in use today. In that response I referred to an article that was written by Ms Ruth Sherry, Professor of English in the University of Trondheim in Norway entitled "The...

Written Answers — Departmental Offices: Departmental Offices (31 Jan 2012)

Michael Noonan: The Paymaster General's Office, which is part of my Department, has two operational units. One of the units provides a banking service to Departments and Offices. It is not involved in policy matters. Due to automation of processes and the decline in the number of paper payments (payable orders) from 4.2 million in 2001 to 295,000 in 2011, it has been possible to reduce the number of staff...

Written Answers — Departmental Offices: Departmental Offices (31 Jan 2012)

Michael Noonan: I can confirm that an important function of the Office of the Paymaster General is the provision of online reporting facilities, which enable Departments and Offices to generate reports to assist them with the reconciliation of their accounts. The appointed Accounting Officer of each Department or Office is accountable for the spending of the Department/Office and, in that regard, is...

Written Answers — Departmental Offices: Departmental Offices (31 Jan 2012)

Michael Noonan: Under the Schedule (first part) of the Ministers and Secretaries Act, 1924, the Office of the Paymaster General and Deputy Paymaster for Ireland was assigned to the Department of Finance. As such the position is vested in the Minister for Finance and no additional remuneration or pension entitlement arises. The Office of the Paymaster General has two operational arms: one provides a banking...

Written Answers — Mortgage Arrears: Mortgage Arrears (31 Jan 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 Government, therefore, established an Inter-Departmental Working Group on Mortgage Arrears to consider what additional measures could be introduced to assist people experiencing mortgage difficulty. The Group's report was...

Written Answers — Flood Insurance: Flood Insurance (31 Jan 2012)

Michael Noonan: I have no plans to introduce a type of Government-backed insurance scheme outlined by the Deputy. The possible introduction of a scheme to protect householders who cannot obtain flood insurance from insurance companies was examined in 2010. However, at that time the Government concluded that such an approach was not financially viable. In particular, there were concerns that, over time,...

Written Answers — Eurozone Crisis: Eurozone Crisis (31 Jan 2012)

Michael Noonan: The ESRI Quarterly Economic Commentary published in November suggested that there is a lack of coordinated action in the euro area and the situation contains elements reminiscent of policy making during the Great Depression. Since the start of the economic crisis, significant and bold policy actions have been undertaken by the ECB and by euro area Member States. As a result, an outright...

Written Answers — Eurozone Crisis: Eurozone Crisis (31 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 157, 166 and 172 together. The independence of the European Central Bank is enshrined in the Treaty and in this context it is important that this be respected when commenting on such matters. In terms of developments in recent months, I would highlight the key role that the ECB is already playing in addressing the crisis. For instance, it is important to...

Written Answers — Economic Growth: Economic Growth (31 Jan 2012)

Michael Noonan: My fellow European Finance Ministers and I regularly discuss at Eurogroup and Ecofin meetings the economic situation in the EU, eurozone and in individual Member States. This is a useful exercise and particularly important at the current juncture given the very uncertain environment in which we are operating. This uncertainty is reflected in the wide range of growth projections for this...