Results 25,261-25,280 of 27,019 for speaker:Michael Noonan

Written Answers — Bank Executives' Compensation: Bank Executives' Compensation (17 May 2011)

Michael Noonan: The Deputy may wish to note in relation to the matter of remuneration at the covered institutions that the NTMA have recently, on behalf of my Department, requested the CEOs of each of the covered institutions to review remuneration policy and practices in their institutions. In this context the covered institutions have been requested to consult with my Department in advance of giving any...

Written Answers — Public Sector Pay: Public Sector Pay (17 May 2011)

Michael Noonan: The Financial Emergency Measures in the Public Interest (No.2) Act, 2009 provided for the reduction in remuneration of public servants with effect from 1 January 2010. Section 7 of the Act requires that the Minister for Finance undertake a review of the operation, effectiveness and impact of this Act, having regard to the overall economic conditions in the State and national competitiveness,...

Written Answers — Public Sector Pay: Public Sector Pay (17 May 2011)

Michael Noonan: The Financial Emergency Measures in the Public Interest (No. 2) Act 2009 provides for the reduction in the pay rates of all persons employed by public service bodies within the meaning of the Act with effect from 1 January 2010. Such reductions apply irrespective of whether a particular post is funded in whole or in part through non-Exchequer funds or income. The staff of recognised schools...

Written Answers — Tax Code: Tax Code (17 May 2011)

Michael Noonan: The staff of recognised private fee-paying schools are deemed to be public servants for the purposes of the Financial Emergency Measures in the Public Interest (No. 2) Bill 2009. This position has been confirmed by legal advice. It is of course open to such schools to make a formal application seeking an exemption under Section 6 of the Act from the relevant Minister. The former Minister for...

Written Answers — EU-IMF Programme: EU-IMF Programme (17 May 2011)

Michael Noonan: Ireland is not a member of the G7, and does not participate in its discussions. I therefore have no record of the matter raised in the question. I do understand that there have, from time to time, been discussions about Ireland among various parties. However, Ireland's engagement in relation to our EU/IMF programme of support has been principally with the IMF and the EU institutions, along...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: I thank the Deputy for his question. The Deputy should not be criticising the Government for inactivity in its early days in office. We have already announced a bank restructuring programme of large proportion, renegotiated the IMF-EU agreement entered into by the previous Government, met the targets under that programme and have been assured we will be able to continue to access resources...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: -----and one's line managers would have to produce them. We are saying something entirely different, namely, the Government is not going to be able to create many jobs directly. What we must do is build confidence, taking the economy sector by sector and introduce initiatives which will allow the private sector to create jobs.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: Let me finish.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: I am answering the Deputy's question.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: I am answering the Deputy's questions. I will drop the economic theory.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: In terms of direct job creation, some of my colleagues in Government involved in the capital programmes mentioned in the initiative have produced estimates of in excess of 6,000 directly created jobs by the capital programme. I have also said that underpinning the programme for Government from 2011 to 2015, a net 75,000 to 100,000 jobs will be created. That is the net figure. Many jobs...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: The levy is not retrospective. It is being calculated on the annual value of each pension fund as of 1 January of each year from 2011 onwards. The levy is similar to stamp duty. It is on the value for the year and will be paid in two tranches each year. It will be paid in two tranches in 2011 for the full value of the fund and then each year thereafter, ending after four years. The...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: There is well over €80 billion in the pension funds. We are not speaking here about little pools of money. There is well in excess of €80 billion in the pension funds about which we are speaking. Many of those funds have been accumulated because of the tax relief. As I stated previously, I believe it is reasonable to take a small stamp duty for four years from the accumulated value of...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: The Government has made no commitment to introduce any such legislation.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: I answered that question before the Deputy came into the House.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: I will reply to the questions quickly and then reply to the debate. I would like to meet Deputy Richard Boyd Barrett sometime for a cup of coffee-----

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: -----in order that he can explain to me the difference between real wealth and having €5 million in a pension fund. In his definition, that is not wealth. We are putting a levy on pension funds, but he asks why we do not tax wealth. What is his new analysis?

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: Perhaps out on the Gold Coast ordinary workers have €5 million in pension funds but not down my way.

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: Deputy Barry Cowen asked about the capital programmes. We have explained the allocations. Some of the allocations for retrofitting, roads and schools are coming from the Departments' capital allocations and being veered to get more work done and produce extra economic activity from the expenditure. We are not hiding anything. We have laid it out. The Deputy also referred to energy related...

Jobs Initiative 2011: Statements (Resumed) (12 May 2011)

Michael Noonan: It would not wash with the European Union and the IMF. Fianna Fáil left a lot of snares and traps behind after it. The least the Deputy could do is acknowledge this, rather than lecture us about what we might or might not do. There are various arguments about pensions fund. I will meet representatives of the industry and ask them what their problems are. I will ask them why before...