Results 24,801-24,820 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (23 Jun 2011)

Michael Noonan: There are sufficient provisions in the NAMA legislation to ensure appropriate accountability to me as the Minister for Finance and to the Oireachtas. The NAMA legislation provides for various reporting mechanisms that underpin the accountability of the Agency to the Oireachtas, including: section 59 which makes provision for the Chairperson and CEO of NAMA to appear before a Committee of...

Written Answers — Departmental Bodies: Departmental Bodies (23 Jun 2011)

Michael Noonan: The Government is committed to a wide-ranging agenda of reform in relation to its budgetary architecture. The commitment is set out both in the Programme for Government and the Joint EU/IMF Programme of Financial Support for Ireland, and includes the establishment of a Fiscal Advisory Council. As the Deputy may be aware, the Memorandum of Understanding on Specific Economic Policy...

Written Answers — Pension Provisions: Pension Provisions (23 Jun 2011)

Michael Noonan: Public servants who are members of public service pension schemes are liable to pay the pension-related deduction legislated for in the Financial Emergency Measures in the Public Interest Act 2009. The applicability of the deduction to staff at the academy referred to by the Deputy arises from section 1 of the Act, by way of the definition of 'public service body', which includes, at...

Written Answers — Croke Park Agreement: Croke Park Agreement (23 Jun 2011)

Michael Noonan: Under current standard terms of employment, public servants generally can earn a pension of up to half their final salary and a lump sum of up to one and one half times that salary depending on years served. The precise calculations of the amount involved as sought by the Deputy are not available to me at this time. However, the relevance of this to the estimated sum of €289 million in...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (23 Jun 2011)

Michael Noonan: I propose to take Questions Nos. 61 to 65, inclusive, together. The Government's policy with regard to senior bondholders is consistent and has not changed from the position I set out in my Statement on Banking on 31 March last. All senior bondholders in the pillar banks AIB/EBS and Bank of Ireland, and Irish Life and Permanent, whether guaranteed or unguaranteed, will be repaid in full....

Written Answers — EU-IMF Programme: EU-IMF Programme (23 Jun 2011)

Michael Noonan: There is no question of the Government restructuring its debt. We are determined to work with our European colleagues to find a common, shared approach to the issue of the sovereign debt crisis. We are committed to taking the steps necessary to restore our public finances to a sustainable position and implementing the policies that will assist this economy in returning to growth and...

Written Answers — EU-IMF Programme: EU-IMF Programme (23 Jun 2011)

Michael Noonan: As I have previously outlined in relation to similar questions in the recent past, it is the stated intention of the National Treasury Management Agency (NTMA) to return to sovereign debt markets as soon as market conditions permit. The steps necessary to enable such a return include resolution of the banking sector issues and continued progress in the reduction of the budget deficit in line...

Written Answers — Fiscal Policy: Fiscal Policy (23 Jun 2011)

Michael Noonan: The Credit Reviewer in his last quarterly report referred to his proposals to raise the current cap on the refusals which can be reviewed by his Office to €500,000. The current threshold of €250,000 is specified in S.I. 127 of 2010. My officials have already been in correspondence with the Central Bank on this issue and the matter is under active consideration in my Department at present.

Written Answers — Banks Recapitalisation: Banks Recapitalisation (23 Jun 2011)

Michael Noonan: I propose to take Questions Nos. 69 and 70 together. In 2009, the Exchequer funded a €4 billion capital injection into Anglo Irish Bank. In 2010, €30.85 billion was committed to Anglo Irish Bank, Irish Nationwide Building Society (INBS) and Educational Building Society (EBS) by way of Promissory Notes but there was no Exchequer expenditure associated with these Promissory Notes in 2010....

Written Answers — Banks Recapitalisation: Banks Recapitalisation (23 Jun 2011)

Michael Noonan: The sum of €1,932,370,435 has been paid into the Exchequer in respect of all fees and interest accumulated under Credit Institutions (Financial Support) Scheme (CIFS) and the Eligible Liabilities Guarantee Scheme 2009. Bank of Ireland paid €214.5 million to the NPRF in February 2011 in respect of a divided on the State's remaining preference shares, no payment was made in 2010 due to the...

Written Answers — Financial Services Sector: Financial Services Sector (23 Jun 2011)

Michael Noonan: As I informed the Deputy previously, as bonds are usually issued in bearer form the purchasers of the bonds are unknown to the issuing bank. When a bank issues a bond, whether by private placement or public issue, it would be usual practice for a securities depository company, such as Clearstream and Euroclear, to purchase the bond on behalf of their customers and the banks would not...

Written Answers — State Banking Sector: State Banking Sector (23 Jun 2011)

Michael Noonan: The €750 million bond that matured on 31 January 2011 was issued in January 2006 (the bond settled on 31 January 2006). This was a senior unsecured bond which was guaranteed by the Irish Government from September 2008 until September 2010 under the CIFS scheme. The €750million was repaid to the bond holders who held the bond on its maturity date. The bank's medium term debt is publicly...

Written Answers — Freedom of Information Act: Freedom of Information Act (22 Jun 2011)

Michael Noonan: The Deputy may be aware that the Programme for Government proposes to extend the Freedom of Information Acts, to ensure that all statutory bodies, and all bodies significantly funded from the public purse, are covered. The Department of Public Expenditure and Reform is reviewing the Freedom of Information Acts, in light of the Programme for Government commitment to inform the preparation of...

Written Answers — Departmental Schemes: Departmental Schemes (22 Jun 2011)

Michael Noonan: The cycle to work scheme is available all year round, there is no restriction on when a bicycle may be purchased. However, I would point out that it is a matter, in the first instance, for employers to implement the scheme having regard to their own administrative requirements. While Circular 16/2009 provides instructions on the implementation of the cycle-to-work scheme in the Civil...

Written Answers — Proposed Legislation: Proposed Legislation (22 Jun 2011)

Michael Noonan: Ireland has a long-established budgetary framework which has undergone a series of reforms in recent years to assist in making the budgetary process more transparent and effective. Moves have been made in the last year or so to accelerate this process of reform and the bringing forward of the draft Fiscal Responsibility legislation will be central in this regard. While the matter has yet to...

Written Answers — Insurance Industry: Insurance Industry (22 Jun 2011)

Michael Noonan: The question of providing cover to new policyholders or renewing it for existing ones is a matter for each insurance company to decide on a case by case basis. This allows a company to assess properly the risk it is considering accepting. Consequently, I am not in a position to comment on particular cases as neither the Central Bank nor I, as Minister for Finance, have any influence over...

Written Answers — Tobacco Prices: Tobacco Prices (22 Jun 2011)

Michael Noonan: I am informed by the Revenue Commissioners that the annual increases in the retail price category of the most popular price category of 20 filter tipped cigarettes since 1999, together with the requested breakdown, are set out in the following table.

Written Answers — Public Procurement: Public Procurement (22 Jun 2011)

Michael Noonan: Under EU Directives contracting authorities are obliged to advertise contracts valued above certain thresholds in the Official Journal of the European Union as well as on the national public procurement website www.etenders.ie . The current EU Directive threshold for public works contracts (exclusive of VAT) is €4,845,000. Therefore projects of the value referred to by the Deputy are not...

Written Answers — Criminal Prosecutions: Criminal Prosecutions (22 Jun 2011)

Michael Noonan: I am informed by the Revenue Commissioners who have primary responsibility for tackling cigarette smuggling, including the investigation of related offences, that the seizure referred to by the Deputy was part of Operation Samhna which was carried out in Greenore, Co Louth, in October 2009. This operation focused on a general cargo vessel, which arrived from the Philippines carrying over 120...

Written Answers — Social Insurance: Social Insurance (22 Jun 2011)

Michael Noonan: I am advised by the Revenue Commissioners that all payments made to that office in respect of PRSI Contributions for the individual concerned are on the records of the Department of Social Protection and have been correctly credited by that Department to the individual's PRSI records.