Results 24,581-24,600 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: The gradual reduction from marginal to standard rate tax relief on pension contributions commencing in 2012 forms part of the fiscal consolidation measures in the agreement with the EU, IMF and the ECB over the period 2011 to 2014. When introducing the temporary pension scheme levy to pay for the Jobs Initiative on 10 May last, I gave a commitment to examine the issue of reducing the tax...

Written Answers — Judcial Remuneration: Judcial Remuneration (5 Jul 2011)

Michael Noonan: This is a matter for the Revenue Commissioners. Section 161 of the Finance Act 2010 provides for a voluntary scheme that enables members of the Judiciary to make a gift to the State of an equivalent amount to the pension related deduction imposed on State employees under the Financial Emergency Measures in the Public Interest Act 2009. Subsection (8) of that Section provides that, inter...

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

Michael Noonan: As Minister for Finance I met with the NAMA Board on 13 April 2011 when I explained that I expect the agency to comply with the Government commitment to the highest standards of transparency to the maximum extent possible. This is an issue which I will be following closely. There are a range of statutory reporting requirements which ensure transparency of NAMA operations. Apart from the...

Written Answers — Fiscal Policy: Fiscal Policy (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 — Office of the Ombudsman: Office of the Ombudsman (5 Jul 2011)

Michael Noonan: The Ombudsman (Amendment) Bill 2008 was published in July 2008. The Bill completed all stages in the Dáil in June 2010 and is awaiting second stage in the Seanad. The primary purpose of the Bill is to extend the Ombudsman's remit. This Bill represents the most significant extension of the Ombudsman's remit in almost 30 years. The main areas being included are third level education...

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

Michael Noonan: Budget and Finance Act 2011 introduced a range of measures which reduced tax expenditures. Principal amongst these were: · Reduction of Income Tax credits, bands and exemption limits; · Removal of various Stamp Duty reliefs and exemptions; · Abolition of a scheme of accelerated capital allowances for farmers. I have initiated a public consultation as part of an economic impact assessment...

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

Michael Noonan: As the Deputy will be aware, the EU – IMF support programme provides for a total of €85 billion in financial support from both internal and external sources – with €17.5 billion of this being provided from our own resources. When the programme was announced €50 billion was identified as being available for the exchequer funding with the remaining €35 billion identified as being...

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

Michael Noonan: Ireland, as with other countries, has experienced an increase in the cost of petrol and auto-diesel. The increase in fuel prices is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as...

Written Answers — Illicit Trade in Fuel: Illicit Trade in Fuel (5 Jul 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 fuel products, that they are very conscious of the ongoing threat to the Exchequer posed by the laundering of markers from mineral oil and the onward sale and supply of the laundered product as auto diesel. I wish to inform the Deputy that a...

Written Answers — Moneylender Regulation: Moneylender Regulation (5 Jul 2011)

Michael Noonan: Persons operating as unlicensed moneylenders are in breach of the law. Any evidence of their activities should be brought to the attention of An Garda Siochana. If legislation is required to deal with unlicensed moneylenders, that will be a matter, in the first instance, for my colleague, the Minister for Justice and Equality. I will consider any subsequent follow-up regulatory requirements,...

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

Michael Noonan: The section in the Finance Act 2010 that provides for the application of the carbon tax to solid fuels (coal and commercial peat) is subject to a Ministerial Commencement Order. This approach was primarily adopted by the previous Government in order to allow time for a robust mechanism to be put in place to improve the control of high sulphur coal being sourced from Northern Ireland...

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

Michael Noonan: I am advised by the Revenue Commissioners that the person (details supplied) must make an application for Revenue Job Assist on form RJA1 to his Revenue Office, Government Offices, Pearse St, Athlone, Co. Westmeath. Part 1 of form RJA1 must be completed by the named person and Part 2 must be completed by the named person's employer. The completed application will be processed as quickly as...

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

Michael Noonan: The Programme for Government contains a commitment to the holding of a referendum to amend the Constitution to reverse the effects of the Abbeylara judgement to enable Oireachtas committees to carry out full investigations. The Taoiseach said in this House on the 25th May that the Government believed that this Referendum should be held on the same day as the Presidential Election. The...

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

Michael Noonan: The position is that whilst public bodies may use a prospective contractor's turnover to assess a company's financial capacity, there are no centrally imposed requirements for a minimum turnover. Such requirements would normally be developed on a case by case basis with reference to the specific needs of the contract. If the Deputy has examples of what he regards as inappropriately high...

Written Answers — European Central Bank: European Central Bank (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 123 and 154 together. As the Deputy is aware, the ECB is independent and this independence is set out in Article 282 (3) of the Treaty, which states that the European Central Bank "shall be independent in the exercise of its powers and in the management of its finances". Currently there are no proposals on the table for reform of the European Central Bank...

Written Answers — European Central Bank: European Central Bank (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 124, 126, 128 and 150 to 153, inclusive, together. The ECB is independent and this independence is set out in Article 282 (3) of the Treaty, which states that the European Central Bank "shall be independent in the exercise of its powers and in the management of its finances". The Executive Board of the European Central Bank comprises the President, the...

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

Michael Noonan: I assume that the Deputy is referring to the recently published Commission proposals on the next Multi-Annual Financial Framework for the EU post 2013. The negotiation of the next Multi-annual Financial Framework will be one of the key engagements for the Government at EU level over the next few years. Engagement in the negotiations will be an ongoing process and we will work effectively with...

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

Michael Noonan: The Department of Finance has recently been advised that the Department of the Taoiseach will be represented on the Tax Strategy Group by Mr. John Shaw, Mr. Mark Kennelly, Mr. Andrew McDowell and Mr. Martin Fraser.

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

Michael Noonan: I propose to take Questions Nos. 129 and 176 together. Performance-related pay has been an integral part of the NTMA approach to remuneration, reflecting the approach to remuneration in the private sector organisations with which the NTMA competes for staff. At the same time, public sector organisations must operate having due regard to the wider public policy context, which includes general...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (5 Jul 2011)

Michael Noonan: The Deputy will be aware that on 1 April 2011, the Central Bank published the total senior and subordinated debt issuances by those banks covered by the Guarantee as at March 2011. This information is available on the Central Bank's website at www.centralbank.ie. The Central Bank published the individual figures on a once-off basis and they were disclosed with the consent of the financial...