Results 25,541-25,560 of 27,019 for speaker:Michael Noonan

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: The bank stress testing exercise, the results of which were announced by the Central Bank of Ireland on 31 March last, did include a detailed review of loan files on an appropriate sampling basis. As the Deputy will be aware, the Financial Measures Programme ("FMP") announced on 31 March 2011 included an independent loan loss assessment exercise performed by BlackRock Solutions...

Written Answers — Mortgage Arrears: Mortgage Arrears (19 Apr 2011)

Michael Noonan: I note that the Chairman of AIB has said that they are internally examining a number of measures including intergenerational mortgages and partial write off of the mortgage where the bank takes an equity share in the house. However, AIB will require the approval of the Central Bank and the Government before any of these measures are brought into effect. In assessing the suitability of any...

Written Answers — Tax Collection: Tax Collection (19 Apr 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that PAYE Balancing Statements (forms P21) for the years 2007 to 2010 will issue to the person concerned shortly. Additional information has been requested from the person concerned regarding their income for 2011. On receipt of this information a review will be carried out for 2011.

Written Answers — Tax Code: Tax Code (19 Apr 2011)

Michael Noonan: As there is no import duty applied to motor vehicles, I take the Deputy to mean the vehicle registration tax (VRT) payable on first registration of both new vehicles, and second hand vehicles which are imported into Ireland. I have no plans at present to immediately increase VRT.

Written Answers — Tax Collection: Tax Collection (19 Apr 2011)

Michael Noonan: As an individual's income tax contribution is based on a number of unique factors such as their taxable income and personal circumstances, it is not possible to state with absolute confidence the effect that a decrease in live register figures would have on the total labour taxes yield. Having said that, it is possible to make an estimate on the basis of reasonable, if somewhat stylised, set...

Written Answers — EU-IMF Fund: EU-IMF Fund (19 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 93 and 94 together. The first drawdown of IMF funds under the Programme took place on 18 January 2011. The amount was SDR 5,012,425,200, equivalent to some €5.8 billion at the time of drawdown. All funds drawn from the IMF under the Programme will be repaid by a series of twelve equal semi-annual capital repayments, beginning 4.5 years after the drawdown...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: Detailed discussions on all aspects of these proposals – e.g. voluntary, compulsory, terms and conditions, duration, level, etc – will have to be undertaken with all relevant parties. The Government will treat all stakeholders, including the taxpayer, with respect and consideration in these discussions. However it is not possible to be precise on the details or timing at this stage....

Written Answers — Pension Provisions: Pension Provisions (19 Apr 2011)

Michael Noonan: The Statutory Instrument under the Social Welfare and Pensions Act 2009 giving effect to the Pensions Insolvency Payment Scheme (PIPS) was signed by the then Minister for Finance on the 18th January 2010 and came into operation from 1st February 2010. It is a pilot scheme and will be in operation for three years. I can confirm that an application to the Pension Insolvency Payment Scheme...

Written Answers — Mortgage Arrears: Mortgage Arrears (19 Apr 2011)

Michael Noonan: The Final Report of the Expert Group on Mortgage Arrears and Personal Debt contained the following recommendation: "The Group notes that, for some mortgage holders who are in negative equity, trading down would produce a reduction in mortgage debt and more affordable monthly payments. The Group recommends that further consideration should be given by lenders to facilitating trading down by...

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

Michael Noonan: The decision to abolish the relief was taken in the light of a recommendation to this effect by the Commission on Taxation. The Commission's views on this relief were quite definitive. It found that it had not had the desired impact on innovation and R&D activity and that, despite various refinements to the scheme over the years, the relief was not a particularly well-targeted measure...

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

Michael Noonan: I am advised by the Revenue Commissioners that the estimated capital cost of purchasing two additional mobile X-ray container scanners is in the region of €6,000,000, or €3,000,000 per scanner, inclusive of VAT and standard 5-year maintenance service, based on current market trends. The estimated running costs of two scanners per annum, to include crew salaries, fuel costs, etc. is a...

Written Answers — Senior Bond Debt: Senior Bond Debt (14 Apr 2011)

Michael Noonan: The Deputy will be aware that on 1 April 2011, the Central Bank of Ireland published the total senior and subordinated debt issuances by those banks covered by the Bank 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 were disclosed with the consent of the...

Written Answers — Departmental Staff: Departmental Staff (14 Apr 2011)

Michael Noonan: Below are details of the numbers of staff (Full Time Equivalents (FTEs)) for the years 1995, 2000, 2005 & 2010 in respect of my Department: Department of Finance - Grade Title 1995 2000 2005 2010 SECRETARY GENERAL FINANCE 1.00 1.00 1.00 1.00 SECRETARY GENERAL PSMD 1.00 1.00 1.00 1.00 SECOND SECRETARY 3.00 3.00 3.00 3.00 ASST SECRETARY 10.00 11.00 15.00 12.00 PRINCIPAL OFFICER 42.00...

Written Answers — Tax Code: Tax Code (13 Apr 2011)

Michael Noonan: I am advised by the Revenue Commissioners that under the European common system of Value-Added Tax a VAT-registered trader in one Member State supplying goods to a VAT-registered trader in another Member State may zero-rate the supply and the customer must self account for VAT in that other Member State. The Value-Added Tax treatment of intra-EU cross-border sales of goods means that where,...

Written Answers — Local Authority Charges: Local Authority Charges (13 Apr 2011)

Michael Noonan: The charge on non-principal private residences is a matter for the Minister for the Environment, Heritage & Local Government. I understand from his Department that the Government decided in 2009 to broaden the revenue base of local authorities by introducing a charge on all non-principal private residences. The charge is payable by the owners of private rented accommodation, holiday homes...

Written Answers — Tax Code: Tax Code (13 Apr 2011)

Michael Noonan: A derogation under EU Directive 2003/96 on Energy Taxation allowed the application of a reduced rate of Mineral Oil Tax to fuel used for the purposes of certain road passenger services. That derogation has expired and the arrangement was, therefore, terminated by the Finance Act 2008. It would not be possible, having regard to the relevant provisions of EU law, to re-introduce a scheme of...

Written Answers — Mortgage Debt: Mortgage Debt (13 Apr 2011)

Michael Noonan: I am informed by the Central Bank that approximately 52 per cent of owner-occupier residential mortgage debt relates to trackers, 33 per cent to other variable rates and the remainder is on fixed rates of over one year duration.

Written Answers — Mortgage Debt: Mortgage Debt (13 Apr 2011)

Michael Noonan: I am informed by the Central Bank that they do not compile such statistics on a county basis.

Written Answers — Departmental Expenditure: Departmental Expenditure (13 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 72 to 78, inclusive, together. In terms of the recent banking announcement, it is not possible to be definitive at this time about the impact on the Exchequer position. The Government will require burden sharing from subordinated bond holders, will require capital generating asset disposals by banks and the banks will also be encouraged, where possible, to...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (13 Apr 2011)

Michael Noonan: In my Statement on Banking on 31 March 2011, I announced that the Government intends to combine the operations of AIB and EBS to build a second Pillar bank from the strengths of both institutions. This followed the announcement the previous day by the National Treasury Management Agency that the bid to purchase EBS did not represent good value for the State. The Government's decision...