Results 7,901-7,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Operations (26 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. As way of background on the transaction referred to in the question, following a meeting between officials from my Department and senior management of IBRC held on 31 May 2012 it was agreed that my Department would review this transaction to better understand the decisions taken by IBRC. This review took place, by way of a meeting...

Written Answers — Department of Finance: IBRC Operations (26 Mar 2015)

Michael Noonan: As part of parliamentary question 97 which was answered on 12 March 2015, the Deputy is aware of the process which was undertaken to introduce a revised Relationship Framework for IBRC and the reasons behind this. In relation to the sale of the company referred to in the question, it was after representations made by an unsuccessful bidder in the process and subsequent meetings...

Written Answers — Department of Finance: Tax Rebates (26 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that Finance Act 2014 inserted a new section 266A into the Taxes Consolidation Act (TCA) 1997.  That section provides for a repayment of Deposit Interest Retention Tax (DIRT) on certain savings held by a qualifying first time purchaser prior to the purchase of a home, where that purchase is made between 14 October 2014 and 31 December 2017. A...

Written Answers — Department of Finance: NAMA Expenditure (26 Mar 2015)

Michael Noonan: A breakdown of the professional fees sought by the Deputy is set out by category of expense for each year from inception to end-2014. The figures for 2015 will be collated and reported in accordance with NAMA's scheduled financial reporting.  Legal, Consultants and advisory €'000 €'000 €'000 €'000 €'000 €'000 Actual 2010 Actual 2011 Actual...

Written Answers — Department of Finance: NAMA Staff Data (26 Mar 2015)

Michael Noonan: Under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. Accordingly, as the Deputy is aware, all NAMA staff are employees of the NTMA. I am advised that the number of staff assigned by the NTMA to NAMA is as follows: End 2010 - 100; End 2011 - 193; End 2012 - 224; End 2013 - 331; End 2014 - 369; End February 2015 - 363.

Written Answers — Department of Finance: NAMA Staff Remuneration (26 Mar 2015)

Michael Noonan: Under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA.  Accordingly, as the Deputy is aware, all NAMA staff are employees of the NTMA.  I am advised that the number of staff assigned by the NTMA to NAMA that were earning over €100,000 at each year end for 2010, 2011, 2012, 2013 and 2014 are as follows: End 2010 - 51; End 2011 - 87;...

Written Answers — Department of Finance: Mortgage Lending (26 Mar 2015)

Michael Noonan: I am informed by the Central Bank of Ireland that the basis of the new macro-prudential mortgage lending regulation (S.I. 47 of 2015) is dependent on the value of the property and therefore due consideration must be given to ensure the accuracy of the calculation of the 'Loan-to-Value' of the loan at the date of drawdown. The shorter the time differential between the date of valuation...

Written Answers — Department of Finance: NAMA Debtor Agreements (26 Mar 2015)

Michael Noonan: As set out in detail in NAMA's 2010 Annual Report, the outcome of the review of some debtor business plans included possible incentivisation arrangements which would only be triggered if the debtors met very ambitious or 'stretch' financial targets which were set for them.  Such arrangements include amendment to or release of personal guarantees where maximum value has...

Written Answers — Department of Finance: NAMA Debtors (26 Mar 2015)

Michael Noonan: I am advised by NAMA that of the 178 remaining NAMA-managed debtor connections, which make up 89% of NAMA debt, 146 connections have personal guarantees in place.  The remaining NAMA-managed connections comprise mainly Special Purpose Vehicles (SPVs).   As regards the debtor connections managed on NAMA's behalf by AIB and Capita, I am advised that there is...

Written Answers — Department of Finance: NAMA Debtors (26 Mar 2015)

Michael Noonan: I am advised that NAMA is working on a consensual basis with 70% of its debtors by value.  Consensual strategies include full restructure, partial restructure or connection management agreement (CMA), and support.  Support is the most common consensual strategy requiring debtors to implement agreed milestones in relation to debt reduction without the need for either partial or full...

Written Answers — Department of Finance: Insurance Coverage (26 Mar 2015)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing or provision of insurance products. The provision of insurance cover and the price at which it is offered is a commercial matter for insurance...

Written Answers — Department of Finance: Tax Code (26 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 94 to 97, inclusive, together. I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' new, enhanced, Statistics webpage: . In relation to the Deputy`s questions, detailed information on potential costs can be found in the post-Budget 2015 Ready Reckoner: . While the Ready Reckoner does not...

Written Answers — Department of Finance: Tobacco Smuggling (26 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the number of criminal convictions for smuggling and illegal selling of tobacco in the years in question, and the total values of those fines, are as set out in the following table. - 2013 Number of Prosecutions Total Fines 2014 Number of Prosecutions Total Fines Cigarette Smuggling 56 €75,750 57 €108,969 Illegal Selling of...

Written Answers — Department of Finance: Public Relations Contracts Expenditure (26 Mar 2015)

Michael Noonan: The NTMA have advised me that they do not maintain an internal press office. Instead, its internal communications resources are supported by an external service provider (appointed following a public procurement process) currently Gordon MRM - in order to offer a full press office and communications service (including out-of-hours contacts for the media). This press office and...

Written Answers — Department of Finance: Tax Reliefs Application (26 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that they will shortly finalise a report for presentation to me in relation to the Special Assignee Relief Programme for 2012 and 2013, which I intend to publish in due course.  I will draw the Deputy's attention to the report when available. I am also informed by the Revenue Commissioners that a similar report will be prepared in relation to...

Written Answers — Department of Finance: Stability and Growth Pact (26 Mar 2015)

Michael Noonan: The expenditure rule referred to by the Deputy was introduced into the Stability & Growth Pact by the six-pack reforms adopted in 2011. The 'expenditure benchmark' as it is generally known was also referenced in the Fiscal Compact. Budget 2016 will be the first budget that Ireland will produce whilst subject to the revised preventive arm of the Stability & Growth...

Written Answers — Department of Finance: Departmental Contracts Data (26 Mar 2015)

Michael Noonan: My Department and the agencies under its aegis have not awarded any contracts or tenders to a company (details supplied) since 1 January 2004.

Written Answers — Department of Finance: Money Laundering (25 Mar 2015)

Michael Noonan: Section 33 of the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, as amended, sets out the requirements in relation to customer due diligence ('CDD').  Pursuant to section 33, designated persons are required to identify the customer and verify the customer's identity on the basis of documents (whether or not in electronic form), or information, that the has...

Written Answers — Department of Finance: Departmental Contracts (25 Mar 2015)

Michael Noonan: The information requested by the Deputy could not be collated in the time available. I will respond directly to the Deputy as soon as possible.

Written Answers — Department of Finance: Mortgage Interest Rates (25 Mar 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or to the mortgage interest rates charged.  It is a commercial...