Results 24,561-24,580 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (5 Jul 2011)

Michael Noonan: As I stated in my reply to questions on the same subject on 29 June 2011 (Ref. Nos. 17942/11 and 17943/11) the search for a new Chief Executive Officer (CEO) at Allied Irish Banks (AIB) is on-going. I am keen that a successful outcome is achieved shortly as AIB is a fundamental part of the announced Government strategy to restructure the banking sector and any proposed appointee would play a...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The level and timeframe of any tax changes in the excise area, including in the carbon tax rate, will be determined in the context of the annual Budget cycle.

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2011)

Michael Noonan: I would like to inform the Deputy that there are a number of measures in place to assist mortgage holders who are in genuine difficulties with regard to the payment of their mortgages. The Deputy will be aware of the work of the Expert Group on Mortgage Arrears and Personal Debt. This Group published its final Report in November 2010. All of the Expert Group's recommendations are listed in...

Written Answers — Tax Yield: Tax Yield (5 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the information furnished on tax returns does not generally require the yield from a particular sector or sub-sector of economic activity to be identified. In these circumstances the amount of tax revenues relating to works of art cannot be separately identified. There is, therefore, no statistical basis on which the information requested by...

Written Answers — Tax Compliance: Tax Compliance (5 Jul 2011)

Michael Noonan: The level and timeframe of any taxation changes in this area will be determined in the context of Budgets over the lifetime of the Government.

Written Answers — National Asset Management Agency: National Asset Management Agency (5 Jul 2011)

Michael Noonan: NAMA has a commercial remit and a statutory objective to generate a return for the taxpayer. However, within the context of its commercial remit and consistent with section 2 of the National Asset Management Agency Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives. Thus NAMA is open to facilitating the work of public...

Written Answers — Banks Restructuring: Banks Restructuring (5 Jul 2011)

Michael Noonan: The Deputy will appreciate that it is an inevitable, but unfortunate, consequence of the necessary restructuring of the banking system that job losses will arise. Essentially the banks will be smaller operations than previously with the focus being on the creation of the two universal full-service pillar banks with a more domestic remit and a restructured Irish Life & Permanent. My...

Written Answers — State Banking Sector: State Banking Sector (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 58 and 158 together. As I said in a reply to a question from Deputy Flanagan on 21 June, 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...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The EU/IMF Programme of Financial Support for Ireland under its fiscal consolidation measures commits to the introduction of a property tax for 2012 and to an increase in the property tax for 2013. Decisions have yet to be taken on the precise legal mechanism to be used to introduce a property tax, what form that tax will take, and whether it will be introduced in tax legislation such as...

Written Answers — Debt Crises: Debt Crises (5 Jul 2011)

Michael Noonan: While the underlying economic and fiscal situations in Ireland and Greece are very different, both countries clearly have to restore their economy to health and their public finances to a sustainable position. For example, the EU Commission Spring Forecasts project that Irish General Government Debt will be 112% of GDP at end-2011, while Greek General Government Debt will be some 158% of GDP....

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: As provided for in the Finance (No. 2) Act 2011, a second reduced VAT rate of 9% came into effect on a temporary basis in respect of certain services and goods mainly related to tourism on 1 July 2011 for the period up to end 2013. Specifically the 9% rate will apply to restaurant and catering services; hotel and holiday accommodation; various entertainment services such as admissions to...

Written Answers — Mortgage Assistance: Mortgage Assistance (5 Jul 2011)

Michael Noonan: This Government is fully aware of the difficulties that many homeowners, through no fault of their own, are having in meeting their mortgage repayments in respect of their principal private residence. There are a number of existing measures in place to assist homeowners in difficulty. These measures include the Central Bank of Ireland's Code of Conduct on Mortgage Arrears, the services...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: As the Deputy will be aware we are seeking a reduction in the interest rate being charged on EU funds and have already explained our position in this regard to Christine Lagarde in her previous role as French Finance Minister. I am confident she is aware of our position but the IMF has no direct role in the decision on the interest rate for EU funds. As the Deputy is aware Ireland supported...

Written Answers — Jobs Initiative: Jobs Initiative (5 Jul 2011)

Michael Noonan: The Jobs Initiative 2011 brought forward a number of sectoral measures and tax/PRSI changes. The purpose of these measures is to assist in employment generation, to provide opportunities for those who have lost their jobs and thus generate confidence in the economy. The Jobs Initiative should be viewed as one element of a wider strategy to support economic activity. The Finance (No. 2) Act...

Written Answers — State Visits: State Visits (5 Jul 2011)

Michael Noonan: There were no costs to my Department arising from the visits of Queen Elizabeth and President Obama. I understand that the Office of Public Works and the Departments which incurred the major costs arising from these visits will respond to the Deputy on their own behalf.

Written Answers — Constitutional Amendments: Constitutional Amendments (5 Jul 2011)

Michael Noonan: The Programme for Government contains a commitment to a referendum to protect the right of citizens to communicate in confidence with public representatives. In addition, there is a commitment that we will legislate and change Dáil standing orders to support the confidentiality of information entrusted to members of the Dáil by their constituents or informants. The Minister for Public...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending...

Written Answers — Departmental Funding: Departmental Funding (5 Jul 2011)

Michael Noonan: As the Deputy is aware, I recently announced this Government's Jobs Initiative. The Initiative provided for a further €30 million for school works and associated works in 2011 over the existing allocation. Some €20 million of this is being reallocated by the Minister for Education and Skills from within his own Department's allocation. A further €10 million of Exchequer funding has been...

Written Answers — Debt Crises: Debt Crises (5 Jul 2011)

Michael Noonan: The main channel through which the Greek sovereign debt crisis is impacting on Ireland is through a widening of sovereign bond spreads. It must be remembered, however, that Ireland is not dependent upon market financing at the moment, so that higher yields are simply notional as opposed to actual costs. In the various discussions that I have had with our EU partners, I have stressed the...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. As part of the Memorandum of Understanding (MOU) on Specific Economic Policy Conditionality of the Joint EU/IMF Programme of Financial Support for Ireland, actions for the fifth review or to be completed by the end of the fourth quarter of 2011 include the presentation of a Budget for 2012 to include budgetary consolidation measures...