Results 25,641-25,660 of 27,019 for speaker:Michael Noonan

Written Answers — State Savings Products: State Savings Products (5 Apr 2011)

Michael Noonan: The 10-year National Solidarity Bond was launched 11 months ago on 1 May 2010 and the 4-year Bond was launched 2 months ago on 1 February 2011. The Solidarity Bonds are part of the range of State Savings products offered by the National Treasury Management Agency (NTMA) to personal savers. I understand from the NTMA that the uptake on both bonds has been strong and that the total amount...

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

Michael Noonan: The section in the Finance Act 2010 that provides for application of the carbon tax to solid fuels (coal and commercial peat) is subject to a Ministerial Commencement Order. This approach was primarily adopted 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 suppliers. The Department of...

Written Answers — Proposed Legislation: Proposed Legislation (5 Apr 2011)

Michael Noonan: The position is that legislation to provide the same tax treatment for civil partners as that provided for spouses is currently in preparation. It is intended that the legislation will have effect for the tax year 2011 and subsequent years. As the Deputy is aware the shortened timescale for this year's Finance Act meant that it was not possible to include the legislation in that Act but it...

Written Answers — Departmental Staff: Departmental Staff (5 Apr 2011)

Michael Noonan: I am informed by the Public Appointments Service (PAS) that the most recent competition to fill Temporary Clerical positions in the civil service was advertised by the PAS in February 2011. The competition was announced on 24th February 2011 and closed on 2nd March 2011. In excess of 13,500 applications were received. A selection process to put in place panels to fill temporary clerical...

Written Answers — Proposed Legislation: Proposed Legislation (5 Apr 2011)

Michael Noonan: The Deputy will be aware that the Construction Contracts Bill which was introduced by Senator Feargal Quinn passed Committee and remaining stages in the Seanad on 8 March. I understand that the Seanad debate highlighted a number of matters relating to the Bill that require further consideration. It would also be imperative that the full regulatory impact of such a piece of legislation be...

Written Answers — Public Sector Pay: Public Sector Pay (5 Apr 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 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 school secretaries (and other non-teaching staff) referred...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: I have been informed by the Central Bank that issues such as the process in place in respect of the setting of interest rates are usually covered in the terms and conditions applying to a particular mortgage. The Consumer Protection Code, issued by the Central Bank, requires that a regulated entity must provide each consumer with the terms and conditions attaching to a product or service,...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: The Solicitors (Professional Practice, Conduct and Discipline (Commercial Property Transactions) Regulations 2010 prohibits the provision of certain undertakings by solicitors in relation to commercial property transactions but this prohibition does not apply where the liability is less that €75,000. These regulations followed much publicised difficulties in relation to undertakings...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: While the Minister is the holder of special investment shares in Irish Nationwide Building Society, the Society remains an independent entity and the Minister's intervention in the conduct of the Society's business is limited to that necessary to protect the public interest. Therefore, subject to that overall framework, the Society's board and management retains responsibility for the...

Written Answers — Personal Debt: Personal Debt (5 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 101, 103 and 104 together. As agreed in the Programme for National Recovery 2011 to 2016, the Government will examine a number of proposals aimed at helping mortgage-holders in difficulty. These will include: · Increasing mortgage interest relief to 30% for First Time Buyers in 2004-2008 (from the current sliding scale of 20% to 25% depending on the year the...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: I stated in my announcement of 31 March 2011, to the Dáil on banking matters, that the banking system must be the enabler of economic recovery by restoring public and market confidence in its financial health, management competence and ethical integrity. The Prudential Capital Assessment Review (PCAR) and Prudential Liquidity Assessment Review (PLAR) examinations undertaken by the Central...

Written Answers — Departmental: Departmental (5 Apr 2011)

Michael Noonan: The whole time equivalent staffing level within the civil service at each grade from Assistant Secretary to Clerical officer in January 1998, 2008, 2011 is set out in the table. Main General Service Grades January 1998 January 2008 January 2011 Assistant Secretary 94.00 146.60 134.00 PO Total 351.00 749.75 645.90 AP Total 1,036.50 2,050.36 1,888.35 HEO Total 2,032.50 3,284.45...

Written Answers — Departmental: Departmental (5 Apr 2011)

Michael Noonan: I assume that where the Deputy refers to non-technical civil service promotion panels he is seeking information on general service interdepartmental promotion panels in the civil service. Such competitions are run by the Public Appointments Service. During the past 24 months panels from the following competitions were closed: Circular 11/2007: Confined competition for appointment to posts...

Written Answers — Departmental: Departmental (5 Apr 2011)

Michael Noonan: Within the central government area, the Accounting Officer is normally the Secretary General or civil service head of a Department or Office to whom the Minister for Finance has assigned responsibility for preparing the annual Appropriation Account for each vote under his/her charge. The Accounting Officer has responsibilities, amongst other things, for regularity and propriety of the...

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: I thank all the Deputies for their contributions. It was an interesting debate. I am sorry it had to be so late on a Thursday evening, when people are anxious to get away, but the announcements could not be made by the Central Bank until after the markets had closed.

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: That is what delayed matters until this hour of the evening.

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: Deputy Brian Lenihan was correct in saying that the stress tests were based on conservative assumptions. The BlackRock consultancy group, from the United States, which is the lead consultant in this regard, took a conservative approach, assuming, for example, a further 30% drop in property values over the test period, which is beyond what most domestic economists would say. They did so...

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: However, there is one thing that should be said in the House. We will deleverage down to a point at which there will be headroom for further borrowing. Such a proportion of bank borrowing at present is dedicated to the construction and development industry that it crowds out all other lending. If we can do that, we will create the headroom. What is built into the model is sufficient...

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: There are not any profitable banks.

Banks Recapitalisation and Restructuring: Statements (31 Mar 2011)

Michael Noonan: That is the problem. There are no profitable banks.