Results 22,741-22,760 of 27,019 for speaker:Michael Noonan

Written Answers — Economic and Monetary Union: Economic and Monetary Union (18 Jan 2012)

Michael Noonan: As the Deputy is aware, the ECB is independent and its remit is set out in Article 282 of the Treaty. Article 282 (2) states that "The primary objective of the European System of Central Banks shall be to maintain price stability. Without prejudice to that objective, it shall support the general economic policies in the Union in order to contribute to the achievement of the latter's...

Written Answers — Job Creation: Job Creation (18 Jan 2012)

Michael Noonan: In September 2011 the Government announced the establishment of the New Economy and Recovery Authority (NewERA) within the NTMA and the establishment of the Strategic Investment Fund. NewERA will centralise the management of Government holdings in the commercial semi-state sector (initially the companies within NewERA's remit are ESB, EirGrid, Bord Gáis, Bord na Móna and Coillte ) from a...

Written Answers — State Bonds: State Bonds (18 Jan 2012)

Michael Noonan: Data supplied to my Department by the Central Bank and the National Treasury Management (NTMA) show that the State has issued Government bonds with maturities of 30 years or more. A Government bond with a maturity of 38 years, a 6.5% Exchequer stock, was issued in 1967. This bond was redeemed early, in 2000. The most recent bond with a maturity of 30 years was an 8.75% Housing Finance Agency...

Written Answers — Personal Debt: Personal Debt (18 Jan 2012)

Michael Noonan: It is not appropriate for me, as Minister for Finance, to become involved in the detailed mortgage position of an individual borrower and lender. However in the case mentioned by the Deputy, I note from a copy of a letter dated 29 December 2011, that accompanied the Deputy's question, that the decision of Permanent TSB not to grant an alternative repayment arrangement in this case can be...

Written Answers — State Banking Sector: State Banking Sector (18 Jan 2012)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (18 Jan 2012)

Michael Noonan: I am informed by the National Treasury Management Agency, as the Manager of the National Pensions Reserve Fund, that, on 31 December 2011, the total value of the National Pensions Reserve Fund was €14.5 billion, comprising the Discretionary Portfolio of €5.4 billion and the Directed Portfolio currently held at €9.1 billion pending completion of an independent valuation review of the...

Written Answers — Fiscal Policy: Fiscal Policy (18 Jan 2012)

Michael Noonan: I propose to take Questions Nos. 73 and 74 together. Budget 2012 estimated that the Exchequer deficits in the years 2012-2014 would be €18.9 billion, €14.1 billion and €10.2 billion respectively. By contrast, the 2011 Exchequer deficit was €24.9 billion. It is the case that the global economic and financial environment is subject to a great deal of uncertainty at present and there are...

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

Michael Noonan: I propose to take Questions Nos. 75 and 76 together. I am informed by the Revenue Commissioners that individuals are not required when completing their tax returns to separately identify the country of origin of a foreign pension. I am further informed by the Revenue Commissioners that income tax returns for the 2008 tax year and earlier tax years did not require a distinction to be made...

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

Michael Noonan: As the Deputy is aware a number of reports have been produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. A report was also been provided to the Garda in this...

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

Michael Noonan: I have not raised this matter with Permanent TSB. The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due...

Written Answers — Motor Fuels: Motor Fuels (18 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), which is...

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

Michael Noonan: The information requested by the Deputy is set out in the following table. I understand the question, in relation to payments that will be made by the covered institutions and State in 2012, to refer to payments to bondholders of the covered institutions, and payments by the State to relate to payments in respect of the provision of capital to the covered institutions. Bond Maturity for...

Written Answers — Troika Staff: Troika Staff (18 Jan 2012)

Michael Noonan: The staffing of the quarterly reviews by the European Commission, the ECB and the IMF are entirely a matter for the bodies concerned.

Written Answers — Fiscal Policy: Fiscal Policy (17 Jan 2012)

Michael Noonan: 1I understand that the Deputy is referring to the possibility of securing private capital, both from home and abroad, to establish a fund which would help stimulate growth and provide jobs. As previously outlined in my reply to the Deputy on 11 January, one of the primary avenues the Government has used to explore such possibilities is through the Global Irish Economic Forum. The first...

Written Answers — Copyright Law: Copyright Law (17 Jan 2012)

Michael Noonan: 1In response to the Deputy's question I can confirm that copyright protection in relation to the National Anthem will run out in December 2012. The main purpose of ownership by the State of the copyright to the original version of the National Anthem was to ensure that it was freely available for general use. The situation will remain unchanged on the expiry of copyright. Records show that...

Written Answers — Tax Code: Tax Code (17 Jan 2012)

Michael Noonan: 1The amount on which VAT is chargeable, in accordance with section 37(1) of the Value-Added Tax Consolidation Act 2010, is the total consideration receivable by the supplier, "including all taxes, commissions, costs and charges whatsoever" but not including the VAT itself. VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. Article 78 of the VAT Directive...

Written Answers — Tax Code: Tax Code (17 Jan 2012)

Michael Noonan: 2057I am informed by the Revenue Commissioners that, having reviewed the circumstances of the person in question, they have arranged for the issue of an amended certificate of tax credits for the year 2012 which will reflect the correct DSP pension that is payable in respect of the person and his spouse and allocate the correct amount of tax credits due to the person. I understand that...

Written Answers — Tax Collection: Tax Collection (17 Jan 2012)

Michael Noonan: 1I propose to take Questions Nos. 129, 131 and 140 together. I am informed by the Revenue Commissioners that the data in question was supplied by the DSP to Revenue and at the end of November 2011, Revenue advised my Department that the aggregate amount of additional tax likely to be collected from the exchange of pensions data from the DSP to Revenue and other compliance activities with the...

Written Answers — Tax Code: Tax Code (17 Jan 2012)

Michael Noonan: 1I am advised by the Revenue Commissioners that the supply of printed material, including UK publications, is liable to VAT. The general position is that books are zero-rated, newspapers and periodicals are subject to VAT at the reduced rate (currently 9%) and stationery and other printed material are liable at the standard rate (currently 23%).

Written Answers — Departmental Staff: Departmental Staff (17 Jan 2012)

Michael Noonan: 1I propose to take Questions Nos. 132, 133 and 146 together. I am advised by the Revenue Commissioners that the telephone calls resulting from the issuing of letters to pensioners following the updating of DSP pension information onto Revenue's records are being handled through the Commissioners general PAYE lo-call telephone service. The number of staff engaged on PAYE telephone duties...