Results 22,641-22,660 of 27,019 for speaker:Michael Noonan
- Written Answers — Government Deficit: Government Deficit (26 Jan 2012)
Michael Noonan: The term 'structural deficit' refers to the general government deficit adjusted for the economic cycle and one-off measures. It is the deficit that would prevail if transitory elements in the headline deficit owing to economic fluctuations and temporary / one-off factors (e.g. State injections into the banking system) were removed. The structural deficit provides greater clarity regarding...
- Written Answers — EU-IMF Programme: EU-IMF Programme (26 Jan 2012)
Michael Noonan: The EU/IMF Programme covers Ireland's funding requirements from 2011 to 2013, provided of course that we continue to adhere to the terms and conditions of the Programme and meet targets. The most recent Exchequer deficit estimates for the years 2013-2015 were set out in Budget 2012 last December. Budget 2012 estimated that the Exchequer deficits in the years 2013-2015 would be â¬14.1...
- Written Answers — Tracker Mortgages: Tracker Mortgages (26 Jan 2012)
Michael Noonan: As the Deputy can appreciate, officials in my Department and in the Central Bank of Ireland are in constant on-going dialogue with all of the covered institutions in respect of implementing structures and solutions which would seek to enhance the overall financial system. As and when further measures are agreed/solutions emerge, I will inform the House as appropriate.
- Written Answers — EU-IMF Programme: EU-IMF Programme (26 Jan 2012)
Michael Noonan: As the deputy will be aware the covered banks are required to deleverage circa â¬70bn of assets by 31 December 2013. To date significant progress has been made in that regard. The two pillar banks met the 2011 deleveraging targets with almost â¬15 billion of these assets sold at significantly better pricing than anticipated in the PCAR/PLAR 2011 exercise. Total deleveraging achieved across...
- Written Answers — Tax Clearance Certificates: Tax Clearance Certificates (26 Jan 2012)
Michael Noonan: This is a matter for the Revenue Commissioners. I am advised by Revenue that the person concerned has a significant tax debt. The case is under discussion with an agent representing the person concerned with a view to agreeing an approach that is acceptable to Revenue. The proposals made to date have not been to Revenue's satisfaction and until such time as a satisfactory arrangement is in...
- Written Answers — State Banking Sector: State Banking Sector (26 Jan 2012)
Michael Noonan: My Department maintains close and on-going contact with the Central bank/Financial Regulator on all financial, stability and regulatory matters. Likewise, there is also close contact with appropriate external authorities. The Central Bank of Ireland and the Financial Regulator provided advice to the Minister at the time of nationalisation of Anglo Irish Bank and the effective...
- Written Answers — Tax Collection: Tax Collection (26 Jan 2012)
Michael Noonan: I have been advised by the Revenue Commissioners that, based on the tax credit certificate issued to the person concerned dated 30 December 2011, the person's tax credits are reduced by â¬47.60 per week.
- Written Answers — Jobs Initiative: Jobs Initiative (26 Jan 2012)
Michael Noonan: I propose to take Questions Nos. 83 and 84 together. The implementation of a jobs and growth strategy is a key priority of this Government. The Jobs Initiative contains a range of measures aimed at assisting in employment generation â providing opportunities for those who are out of work, to restore public morale and confidence in the economy and encourage spending by consumers. The Jobs...
- Written Answers — Jobs Initiative: Jobs Initiative (26 Jan 2012)
Michael Noonan: The labour market is still in a weak state, as confirmed by the latest CSO Quarterly National Household Survey data. The unemployment rate is unacceptably high and people are still losing jobs. At the same time, some jobs are being created though it is difficult to assess the number as official employment data are presented in net terms and information on gross flows into and out of...
- Leaders' Questions (26 Jan 2012)
Michael Noonan: There is no circus without a clown.
- Written Answers — Industrial Relations: Industrial Relations (25 Jan 2012)
Michael Noonan: As the Deputy will be aware, the Government are of the view that the inability to pay clause for Employment Regulation Orders (EROs) and Registered Employment Agreements (REAs) should be strengthened. In this regard, the Minister for Jobs, Enterprise and Innovation will shortly present an amendment to the legislation to provide an inability to pay clause that will allow two consecutive...
- Written Answers — Fuel Products: Fuel Products (25 Jan 2012)
Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are acutely aware of the various illegal activities that lead to loss to the Exchequer of mineral oil tax. The most serious risk in this regard is the large scale laundering of markers from mineral oil (diesel), and the...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (25 Jan 2012)
Michael Noonan: Throughout the entire process of issuing senior bonds the bond issuer itself remains unaware of the individual bondholders' details. The Central Bank has advised me that the process of issuing new senior 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...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (25 Jan 2012)
Michael Noonan: I am informed by the bank that Anglo Irish Bank Corporation Limited ("the Bank") carried out liability management exercises on certain of its subordinated debt securities in 2009 and 2010 whereby the Bank offered to purchase/exchange the securities for cash/government guaranteed securities at various prices (subject to the level of subordination of the securities and the year the offer was...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (25 Jan 2012)
Michael Noonan: As the information sought by the Deputy is of an operational nature it is not held by the Department. Accordingly, I contacted the respective covered institutions, on behalf of the Deputy, to source the requested information. The position in relation to the institutions is as follows: Institution Number Average(rounded) Range of top ten payments (rounded) AIB (overseas disposal of...
- Written Answers — Tax Code: Tax Code (25 Jan 2012)
Michael Noonan: I propose to take Questions Nos. 57 and 58 together. The Deputy is referring to services on which a taxi operator incurs VAT. These services (taxi booking service, hire of radios and the provision of administration) are liable to VAT at the standard rate of 23%. The transport of passengers and their accompanying baggage is exempt from VAT under Paragraph 14(3) of Schedule 1 to the...
- Written Answers — Tax Reliefs: Tax Reliefs (25 Jan 2012)
Michael Noonan: As I announced in the Budget, the proposed new 30% rate of tax relief comes into effect in respect of the 2012 tax year and subsequent tax years. The position is that the tax relief, including the proposed new 30% rate of relief, in respect of interest paid on qualifying loans is given by qualifying lenders. I am advised by the Revenue Commissioners that they have already, in advance of the...
- Written Answers — Tax Collection: Tax Collection (25 Jan 2012)
Michael Noonan: I am informed by the Revenue Commissioners that the most recent basic data available on incomes from which information of the type requested by the Deputy could be derived for all income earners on the income tax record are in respect of the income tax year 2009. The information requested on effective rates of income tax of all income earners in the specified income bands is set out as...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (25 Jan 2012)
Michael Noonan: As the Deputy is aware Anglo and INBS have been merged to form the Irish bank Resolution Corporation. For completeness I have included the relevant figures for INBS. In 2009 the Government provided capital in the amount â¬4 billion to Anglo Irish Bank. The capital was provided in the cash paid directly from the Exchequer. Further, during 2009 it was determined that Anglo and INBS required...
- Written Answers — Tax Code: Tax Code (25 Jan 2012)
Michael Noonan: The position is that with effect from 1 January 2012, the annual threshold for exemption from the Universal Social Charge (USC) has been increased from â¬4,004 to â¬10,036. An individual who will have income in the tax year 2012 that will not exceed this amount will not be chargeable to USC. However, where this threshold is exceeded, the entire amount is chargeable. Where an individual...