Results 24,061-24,080 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Yield: Tax Yield (27 Sep 2011)

Michael Noonan: As announced under the Jobs Initiative, a second reduced VAT rate of 9% was introduced on a temporary basis in respect of certain services and goods mainly related to tourism for the period 1 July 2011 to end 2013. Specifically the 9% rate applies to restaurant and catering services; hotel and holiday accommodation; various entertainment services such as admissions to cinemas, theatres,...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (27 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 119 and 122 together. Unfortunately, it has not been possible to get the information from the covered institutions in the timeframe allowed by the Question. I will write to the Deputy in the near future with information provided by the institutions. I would caution however that one institution, at this point, has responded indicating that the information...

Written Answers — State Banking Sector: State Banking Sector (27 Sep 2011)

Michael Noonan: The promissory notes were issued in various tranches with different interest rates (four tranches for Anglo and 2 tranches for INBS. The total interest cost for the State for all tranches of the Anglo and Irish Nationwide promissory notes is circa €17 billion with annual repayments of €3.1 billion per annum. These annual repayments reduce over time as the various tranches of the...

Written Answers — General Government Debt: General Government Debt (27 Sep 2011)

Michael Noonan: The Deputy should be aware that the funds which become available to the State as a result of borrowing undertaken by the Exchequer are not generally assigned to one particular area of expenditure. Rather they are available, along with the funds sourced from revenues such as tax revenue, non-tax revenue and capital receipts, to fund overall expenditure. The figures for General Government...

Written Answers — Tax Yield: Tax Yield (27 Sep 2011)

Michael Noonan: The report "Economics of Tobacco: Modelling the Market for Cigarettes in Ireland " is based on analysis done by Revenue's Research and Analytics Branch. The research was conducted in 2010 and the report was published on the Revenue and Department of Finance websites in early 2011. Neither I nor the Revenue Commissioners are aware of any suggestion that the research is significantly at...

Written Answers — Disabled Drivers: Disabled Drivers (27 Sep 2011)

Michael Noonan: I am advised by the Revenue Commissioners that an application (Form DD1) under the Disabled Drivers Scheme from one of the named persons was received in the Central Repayments Office, Monaghan on 23rd September 2011. The necessary Primary Medical Certificate has also been received. The application form DD1 in question was incomplete but the applicant was contacted by telephone and has...

Written Answers — Tax Reliefs: Tax Reliefs (27 Sep 2011)

Michael Noonan: It is assumed that the Deputy is referring to the cost to the Exchequer of the following property based tax incentive schemes which remain in the tax code: certain tourism infrastructure under the Mid-Shannon Scheme (only 80% of expenditure can qualify in certain areas) and Qualifying Specialist Palliative Care Units (subject to Commencement Order). I am informed by the Revenue Commissioners...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (27 Sep 2011)

Michael Noonan: The Commission on Credit Unions is due to submit its interim report to me, as Minister for Finance, by 30 September 2011. This report will make initial recommendations on strengthening the regulatory framework for credit unions. The Commission will submit its final report to me by 31 March 2012. On the issue of lending restrictions, as Minister for Finance, my role is to ensure that the...

Written Answers — Departmental Strategy Statements: Departmental Strategy Statements (27 Sep 2011)

Michael Noonan: The Pre-Budget Outlook will be published in October although a precise date has not yet been set. The multi-annual fiscal projections which will be published in the Pre-Budget Outlook will cover the period 2012 to 2015.

Written Answers — General Government Debt: General Government Debt (27 Sep 2011)

Michael Noonan: There are quarterly Exchequer primary balance targets that we are required to meet under the terms of the EU-IMF Programme of Financial Support. These are set out in the Technical Memorandum of Understanding (TMU). As they are primary balance targets, they exclude Exchequer debt interest payments. They also allow for the exclusion of expenditure related to the banking sector...

Written Answers — Tax Yield: Tax Yield (27 Sep 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the re-introduction of the Income Levy at the same rates as applied in 2010 and confined to all income earners earning in excess of €40,000 per annum, with double that amount for married couples, would be of the order of €1,180 million. These figures...

Written Answers — Departmental Strategy Statements: Departmental Strategy Statements (27 Sep 2011)

Michael Noonan: As specified under the Public Service Management Act 1997, my Department has submitted to me its draft Statement of Strategy for the period 2011-2014. The finalisation of the Statement of Strategy will reflect the key policy commitments of the Government including the emerging decisions in the context of the Comprehensive Review of Expenditure currently underway. It is my intention to...

Insurance (Amendment) Bill 2011 [Seanad]: Second Stage (27 Sep 2011)

Michael Noonan: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address Dáil Éireann today on the Insurance (Amendment) Bill 2011, which was published on Tuesday, 13 September 2011. At the outset, I wish to outline the main reason it is necessary to have the Bill passed speedily by the Oireachtas. The joint administrators of Quinn Insurance Limited, QIL, hope to conclude...

Leaders Questions (27 Sep 2011)

Michael Noonan: That is not true.

Leaders Questions (27 Sep 2011)

Michael Noonan: The previous Government put in place a cap and then paid €700,000 while pretending to pay €500,000.

Leaders Questions (27 Sep 2011)

Michael Noonan: The previous Government put in place a cap of €500,000 and paid €690,000.

Written Answers — Motor Vehicle Registration: Motor Vehicle Registration (22 Sep 2011)

Michael Noonan: I am informed by the Revenue Commissioners that they have been assured by Applus that there are no delays in processing VRT payments at their centres in Cork. In order to register an unregistered vehicle (or one previously registered outside the State) an appointment must be made with the NCTS (Applus), within 7 days of its entry into the State, to have a pre-registration examination of the...

Written Answers — Credit Union Sector: Credit Union Sector (22 Sep 2011)

Michael Noonan: The strategy to which the Deputy refers was prepared in line with Ireland's targets under the EU/ECB/IMF Programme of Support for Ireland and presented to the EU Authorities and the IMF on 30 May 2011. This strategy continues to be subject to further discussion with the Troika and as a result it has not been presented to Government and will, for the time being, remain a confidential...

Written Answers — State Banking Sector: State Banking Sector (22 Sep 2011)

Michael Noonan: The duties of a mortgage lender to supply documents and information to a borrower are set out in section 130 of the Consumer Credit Act 1995. That section provides that ' a mortgage lender shall, in respect of a housing loan, issue to the borrower: (a) at the time the loan is made, or as soon as may be practicable thereafter a copy of the mortgage deed (including any contract relating...

Written Answers — Tax Code: Tax Code (22 Sep 2011)

Michael Noonan: I am advised by the Revenue Commissioners that a claim for a refund or repayment of VAT must be made within 4 years after the end of the taxable period to which it relates.