Results 23,021-23,040 of 27,019 for speaker:Michael Noonan

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The 9% rate introduced in the jobs initiative for certain services and the 13.5% rate that applies to home heating oil, residential housing, general repairs and maintenance works will remain the same. When the Opposition is scaremongering the elderly about not being able to fill the oil tank for central heating, it would want to remember that the rate of VAT which applies to central heating...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: For the majority of the past 20 years the VAT differential between the Republic and Northern Ireland has been 3.5% and it was as high as 6.5% as recently as 2009. After the increase I am announcing, the differential will not be 3.5%, it will be 3%. On this basis, I do not expect any increase in cross-Border shopping as a result of the VAT increase. Some opponents of the VAT change - experts...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: ----- to the estimated VAT yield. Ensuring a Fair Distribution of the Tax Burden The programme for Government is committed to ensuring people with wealth pay their fair share.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: I am introducing a number of measures that will meet that objective. I am increasing the current rate of capital acquisitions tax from 25% to 30%; increasing capital gains tax from 25% to 30%; reducing the group A tax free threshold for capital acquisitions tax from €332,084 to €250,000; increasing DIRT from 27% to 30%, as we do not need to incentivise savings when the savings ratio has...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Consistent with our promise in the programme for Government, I am allowing farmers a double income tax deduction for increased costs arising from the change in carbon tax. Farmers will also be significant beneficiaries of the reduction in the universal social charge. A measure that will benefit businesses is a reduction in the VAT rate on district heating from 21% to 13.5%. This will bring...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: To protect vulnerable groups in society, it is proposed to provide a waiver for those on mortgage interest supplement and those residing in certain categories of unfinished housing estates.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Provision will also be made to allow payment of the charge in instalments.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: There have been significant reductions in revenues from VRT and motor tax as a result of, among other factors, the consumer movement towards buying cleaner and cheaper cars. I am initiating a consultation process with the motor industry and other interested parties to commence in early 2012 to review options for the improvement in VRT and motor tax revenues in future years. In the meantime,...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The details are in the documents accompanying the budget. Export Refund Scheme I propose to have my Department engage in a consultation process with the motor industry with a view to putting in place an export refund scheme that would allow for a refund of VRT contained in a vehicle on the permanent export of the vehicle to another member state. This would restore a balance to the sector in...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Therefore, I am removing the existing tax exemption for the first 36 days of illness benefit and occupational injury benefit in order that this incentive to absenteeism is removed. The Minister for Social Protection, Deputy Joan Burton, will in 2012 introduce proposals to deal with absenteeism in the public and private sectors. She will engage in discussions with all interested parties and...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Excise duty on a packet of 20 cigarettes is being increased by 25 cent from midnight. This increase will be applied to other tobacco products on a pro rata basis at the same time. While the VAT increase will apply to alcohol, I am not increasing excise on alcohol. There has been much discussion on the issue of low cost alcohol products being sold in off-licences, particularly supermarkets....

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The next provision is one for the non-puritan Members of the Opposition. I will introduce legislation to facilitate the extension of betting duty on remote betting and the introduction of betting intermediaries duty-----

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: -----to cover betting exchanges. Conclusion The core message of this Government is to get Ireland working again. It is the unifying goal of the new Fine Gael-Labour coalition Government. Last year, I said that the then Government had learned nothing and forgotten nothing. Twice in a generation, reckless spending on the back of irresponsible politics has landed our country in a fiscal...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: -----and in their hubris, the captains and kings of the development industry advised citizens of other countries on easy ways to get rich. If we need a role model it should be the economy of the mid to late 1990s where over 600,000 jobs were created and growth was based on competitiveness, high educational standards, a credit flow from the banks to enterprise and hard work.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: This Government will not repeat the mistakes of the past. We are changing the way politics works to make it more transparent, more accountable and designed to secure the best outcome for the Irish people. We are implementing our programme for Government commitments to improve the terms of the EU-IMF programme. This is a work in progress but our results to date include a reduction in the...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: -----a refocus on fairness through the restoration of the cut in the national minimum wage; and an additional year to bring the deficit below 3% of GDP.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The budget changes the economic strategy of the previous Government to put a much greater focus on growth and employment. It balances the need to restore confidence in Ireland's fiscal position with the key objective of supporting economic growth that delivers jobs. In conclusion, I would like to associate myself with the comments made by my colleague the Minister for Public Expenditure and...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Some minor amendments were made to the published draft of the speech so I will circulate a new copy to Members of the House, in the interests of being exact. On this day 90 years ago, 6 December 1921, the Treaty was signed. The Treaty restored Ireland's sovereignty which for so long had been lost. In the last days of the Treaty negotiations, the British conceded fiscal autonomy to Ireland....

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The Government has successfully protected this rate even under international pressure, given our fiscal state. The Government successfully negotiated a reduction of €10 billion in the interest rate margin that was far bigger than originally offered and the Taoiseach made no concession on the corporate tax rate in the course of those negotiations. Today, I want to say to our friends in the...

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: We promised this in the programme for Government and we will fulfil this commitment.