Results 24,241-24,260 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Regulation: Banking Sector Regulation (14 Sep 2011)

Michael Noonan: The Central Bank's Consumer Protection Code requires entities regulated by the Central Bank to act honestly, fairly and professionally in the best interests of their customers. Regulated entities must not recklessly, negligently or deliberately mislead a customer as to the real or perceived advantages or disadvantages of any product or service. In accordance with common rule 12 of the...

Written Answers — Debt Levels: Debt Levels (14 Sep 2011)

Michael Noonan: The Central Bank's Quarterly Financial Accounts data show that households had outstanding loans amounting to €184.9 billion in the first quarter of the year, representing 147 per cent of forecast GNP for 2011. The stock of household loans has declined by €18 billion or 9 per cent since peaking in the final quarter of 2008. The same data source reveals that non financial corporations had...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (14 Sep 2011)

Michael Noonan: As the Deputy is aware, under the previous Government, some €43.6 billion was injected into the Irish banks by the end of 2010. The Prudential Capital Assessment Review (PCAR), which was carried out by the Central Bank and reported in March 2011, identified an additional capital requirement of €24 billion. This means that the expected total capital needs in March 2011 amounted to...

Written Answers — Departmental Investigations: Departmental Investigations (14 Sep 2011)

Michael Noonan: The Temple Bar Cultural Trust is a private limited company whose shares are held by Dublin City Council and the Council is responsible for appointing its Board of Directors. Any issues specific to the Trust should therefore be raised with the Minister for the Environment, Community and Local Government in the first instance.

Written Answers — Proposed Legislation: Proposed Legislation (14 Sep 2011)

Michael Noonan: With the approval of the Government and subject to confirmation by the Oireachtas, I signed the Amendment to the EFSF Framework Agreement on behalf of Ireland on 8th September 2011. The Amendment agreement provides for the implementation of the measures announced by the Heads of State or Government on 21 July last. These include increasing the flexibility of the EFSF in the euro area, to...

Written Answers — Strategic Investment Bank: Strategic Investment Bank (14 Sep 2011)

Michael Noonan: As I said in a reply to questions from Deputies Tóibín and Conway on 21 July 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...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Sep 2011)

Michael Noonan: NAMA was established on 21 December 2009 and, by the end of that year, seven staff had been assigned to it by the NTMA. By the end of 2010, the NTMA had recruited for NAMA 104 staff with experience and expertise in the areas of lending, property, accountancy, law, banking and credit. Its current staff complement stands at 190 and it plans to recruit an additional ten staff before the end of 2011.

Written Answers — National Archives: National Archives (14 Sep 2011)

Michael Noonan: The allocation of funding for the National Archives is a matter for the Minister for Arts, Heritage and the Gaeltacht. However, issues concerning the statutory protection of medical records and investigation into hospital archives are a matter for the Minister for Health in the first instance.

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: I am informed by the Commission for Communications Regulation (ComReg) that no projections are made for mobile telephone usage, whether calls or texts. The only basis for estimating the yield from a tax on text messages is the figures for mobile telephone usage per quarter supplied by the companies to ComReg. In the 12 months to end March 2011, the last 12 month period for which figures are...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: It was announced in last years Budget that the necessary arrangements are being made to ensure that bets placed on the internet by domestic punters are subject to the same level of betting duty as applies to high street betting shops. This will serve to broaden the tax base and increase betting duty receipts. The Finance Act 2011 provides for the taxation of bets that remote bookmakers...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: I understand that the Deputy is referring to airport passenger charges that apply at Irish airports. Such charges, which are regulated at Dublin Airport by the independent Commission for Aviation Regulation but otherwise set by individual airport authorities on a competitive commercial basis, are normal fees applied by airports the world over for the use of facilities. They are what pay for...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: The position is that most social welfare allowances, pensions and benefits, including the carer's allowance, awarded by the Department of Social Protection are taxable. The extent of tax due depends on the level of an individual's tax credits. The following Department of Social Protection payments are taxable: * State Pension (Contributory); * State Pension (Non-Contributory); * State...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Sep 2011)

Michael Noonan: NAMA participated in the Working Group set up by the Government to examine the issue and extent of unfinished estates in Ireland. The Group's report was published by the Minister for Housing in June 2011.That report identified 2,800 unfinished estates that were categorised by reference to the extent to which they required remediation work. The report identified about 225 Category 4 estates...

Written Answers — State Claims Agency: State Claims Agency (14 Sep 2011)

Michael Noonan: I am informed by the State Claims Agency that the amount spent on legal fees by the Agency in each of the past five years is as follows: Legal Costs 2006(€m) 2007(€m) 2008(€m) 2009(€m) 2010(€m) Defence Legal Costs 3.9 4.7 8.2 8.6 12.0 Plaintiff Legal Costs 5.0 3.3 10.4 12.8 18.1 Total 8.9 8.0 18.6 21.4 30.1 The legal cost of the clinical claims portfolio has been increasing...

Written Answers — Motor Fuels: Motor Fuels (14 Sep 2011)

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 their officers are empowered under section 134 and 135 of the Finance Act 2001 to stop vehicles for the purpose of examining and taking fuel samples. The Revenue Commissioners office continually review the sampling procedures...

Written Answers — Departmental Expenditure: Departmental Expenditure (14 Sep 2011)

Michael Noonan: The following is the list of replied that we have received to date. The complete list will be forwarded to the Deputy within the next few days. Financial Services Ombudsman Budget for 2011 €5,820,000 Staff Numbers 34. Financial Services Ombudsman Council Budget for 2011 Nil Staff...

Written Answers — Pension Provisions: Pension Provisions (21 Jul 2011)

Michael Noonan: While the purpose of approved pension arrangements is to provide for an income in retirement, I am advised by the Revenue Commissioners that, in some cases, the member's entitlements under an occupational pension scheme may be too small to justify the pension set up costs (e.g. purchase of an annuity). Revenue recognises the difficulty this can cause and will allow full commutation of the...

Written Answers — EU Funding: EU Funding (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 62 and 63 together. As the Deputy may be aware, agreement was reached at the European Council meeting on the 24th June 2011 on the text of the European Stability Mechanism. On the 11th July 2011, Euro Area Finance Ministers signed the Treaty at a Eurogroup meeting subject to the completion of national parliamentary procedures. Under the proposed European...

Written Answers — Strategic Investment Bank: Strategic Investment Bank (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 64 and 97 together. As I said in a reply to a question from Deputy Flanagan on 21 June and Deputy McGuinness on 5 July, 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...

Written Answers — Tax Code: Tax Code (21 Jul 2011)

Michael Noonan: I wish to point out that there is currently a greater parity between the VAT rates in Ireland and the UK than previously. The UK standard VAT rate at 20% is only 1 percentage point lower than the Irish standard VAT rate of 21%. At 5% the UK reduced VAT rate is lower than our reduced rates of 9% and 13.5%. However, Ireland applies reduced rates of VAT to a much wider range of goods and...