Results 23,961-23,980 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (4 Oct 2011)

Michael Noonan: The deferred consideration initiative was recently approved by the NAMA Board and the agency has written to me seeking my agreement to the initiative commencing. The details of the initiative are currently being reviewed within my Department and I will respond to NAMA when that review has been completed.

Written Answers — Departmental Expenditure: Departmental Expenditure (4 Oct 2011)

Michael Noonan: The Deputy has requested information in relation to payments made by the Department of Finance, the Central Bank, the NTMA and the NPRF to a number of firms. It is not possible to provide all this information in a short time frame. I have however requested this information from the relevant bodies and will send it to the Deputy shortly. I can however inform the Deputy that my Department has...

Written Answers — State Banking Sector: State Banking Sector (4 Oct 2011)

Michael Noonan: The restructuring of the domestic banking sector creates capacity for the pillar banks to lend in excess of €30 billion over the next three years in SME and other important sectors. This is in excess of Central Bank estimates of the likely demand for SME and mortgage credit over this period. Both pillar banks are concentrating on the Irish economy and need to issue credit to make profits...

Written Answers — Economic Competitiveness: Economic Competitiveness (4 Oct 2011)

Michael Noonan: The Deputy will be aware that this Government's overriding aim is to return the economy to sustainable growth which will underpin an improvement in the labour market. There are three key conditions for doing so: - restoring order to the public finances, - a functioning banking system, and - improving competitiveness. The Government is committed to restoring order to the public finances and...

Written Answers — State Banking Sector: State Banking Sector (4 Oct 2011)

Michael Noonan: As I said in a reply to a question from Deputy Nash on 27 September last, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the Programme for Government. A comprehensive programme of bank recapitalisation and...

Written Answers — EU-IMF Support Programme: EU-IMF Support Programme (29 Sep 2011)

Michael Noonan: As stated in the reply referenced, the first drawdown under the bilateral loan agreement with the UK is expected to take place shortly. This drawdown will be undertaken by the National Treasury Management Agency. The request for drawdown of the loan is made to the UK authorities on behalf of Ireland by the Minister for Finance. Under the UK loan agreement, the parties to the agreement...

Written Answers — Tax Code: Tax Code (29 Sep 2011)

Michael Noonan: I understand that the Deputy is interested in the 'grace period' and its effects. The Financial Emergency Measures in the Public Interest (No. 2) Act 2009 provided for a period within which pensions are unaffected by the pay cuts introduced in that Act. This 'grace period' was due to expire by the end of 2010. However, it was extended to 29 February 2012 to avoid too large a number of public...

Written Answers — Mortgage Arrears: Mortgage Arrears (29 Sep 2011)

Michael Noonan: Figures compiled by the Central Bank show that, at the end of June 2011, there were 55,763 private residential mortgages in arrears for more than 90 days. Of the 55,763 mortgage accounts in arrears, because of remortgages, top-ups etc., the actual number of households in arrears is somewhat lower with the Central Bank estimating the household number to be of the order of 45,000. There are a...

Written Answers — Tax Compliance: Tax Compliance (29 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that arrangements are in place to identify recipients of State and occupational pensions. On-going collaboration between Revenue and the Department of Social Protection is aimed at identifying recipients of all types of State pensions. Providers of occupational pensions, which are registered with Revenue as employers, make annual returns that allows...

Written Answers — Tax Collection: Tax Collection (29 Sep 2011)

Michael Noonan: This is a matter for the Revenue Commissioners. I am advised by Revenue that for reasons of taxpayer confidentiality and the potential that this information will identify the corporation concerned, it is not in a position to provide the information sought by the Deputy.

Written Answers — Central Bank Expenditure: Central Bank Expenditure (29 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 52 and 53 together. I am not responsible for expenditure by the Central Bank. However, the Central Bank has advised me in the following terms: The Central Bank does not have a specific entertainment budget. Based on available records the following estimated costs reflect expenses not directly related to business operations. These estimated costs include a...

Written Answers — Tax Reliefs: Tax Reliefs (29 Sep 2011)

Michael Noonan: Section 473A of the Taxes Consolidation Act 1997 provides, subject to certain conditions, tax relief at the standard rate of income tax (20%) as regards qualifying fees paid by an individual in respect of a third level education course including a postgraduate course. Qualifying fees means tuition fees in respect of an approved course at an approved college and includes what is referred...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2011)

Michael Noonan: I accept that it is not in the interest of Ireland Inc. to have these jobs outsourced. However, the Government operates at arms length from the institution referred to in the Deputy's question and does not consider it appropriate to direct a bank in how it should reduce its costs.

Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Sep 2011)

Michael Noonan: The Deputy will appreciate that the protection of the public interest is of primary concern of this Government and steps taken in relation to banking policy have the ultimate aim of protecting that interest. In particular I refer to the areas of the bank guarantee, recapitalization, mortgage assistance, bank remuneration and board membership. The Exchequer, and as such the taxpayer, has...

Written Answers — Copyright Law: Copyright Law (29 Sep 2011)

Michael Noonan: The copyright of the designs on Irish coins, including the national face of euro coins issued by Ireland, vests in the Minister for Finance under the Copyright and Related Rights Act, 2000. Accordingly, any person wishing to use these designs requires the permission of the Minister for Finance. Permission was not sought by the company referred to by the Deputy. This matter is being pursued.

Written Answers — Appointments to State Boards: Appointments to State Boards (29 Sep 2011)

Michael Noonan: In response to the Deputy's question each Department hold details in respect of board memberships in relation to boards that come under their aegis. Details of those appointed and their remuneration arrangements are held by the individual Departments. With regard to my own Department the following tables contain details of board members and their remuneration. National Treasury Management...

Written Answers — Tax Code: Tax Code (28 Sep 2011)

Michael Noonan: The Universal Social Charge, which came into effect on 1 January 2011, is a charge payable on gross income subject to certain exemptions. All individuals are liable to pay the Universal Social Charge if their gross income exceeds the threshold of €4,004 per annum. It is not levied on payments from the Department of Social Protection. I am advised by the Revenue Commissioners that the...

Written Answers — State Banking Sector: State Banking Sector (28 Sep 2011)

Michael Noonan: As the Deputy is aware, the day to day running of a bank's operations is a matter for the Board of the relevant bank. Commercial decisions such as the fixing of interest rates etc are matters in which I have no direct function. The rates of interest charged on mortgages are normally determined by the terms of the mortgage agreement. If a bank or mortgage provider unilaterally changes the...

Written Answers — Tax Yield: Tax Yield (28 Sep 2011)

Michael Noonan: The information the Deputy has requested is provided in the following table. 2010 2011 (f) 2012 (f) 2013 (f) 2014 (f) Tax/GNP Ratio 25% 28% 29% 30% 31% The tax projections for the years 2011-2014 are those technical forecasts set out in the April Stability Programme Update (SPU). The GNP figures upon which the ratios are based, are also taken from the time of the SPU. Revised economic and...

Written Answers — National Debt: National Debt (28 Sep 2011)

Michael Noonan: The information the Deputy requests is provided in the following tables, which have been compiled by the National Treasury Management Agency. National Debt 2008-2010: (€m) 2008 2009 2010 End-Q1 37,919 54,245 79,082 End-Q2 43,157 65,278 83,984 End-Q3 46,962 70,754 88,636 End-Q4 50,398 75,152 93,445 National Debt 2011: (€m) 2011 End-January 94,396 End-February 95,851...