Results 12,761-12,780 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Instruments (13 Feb 2014)

Michael Noonan: On 14 January 2014, the European Parliament and the Council reached a provisional agreement on a revision of the Markets in Financial Instruments Directive (MiFID II) and a new Markets in Financial Instruments Regulation (MiFIR). The Directive and Regulation are likely to enter into force sometime in the middle of 2014, with transposition into national law to follow within...

Written Answers — Department of Finance: National Debt (13 Feb 2014)

Michael Noonan: A time series on the outstanding stock of national debt and the servicing of national debt is available in the Budgetary & Economic Statistics, published by my Department in late December. However, as general government debt expressed as a percentage of gross domestic product is the standard metric internationally for assessing debt levels, this is the more appropriate metric to...

Written Answers — Department of Finance: Mortgage Arrears Proposals (13 Feb 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial matters.   I have been informed by AIB that the split mortgage product is just one of a number of sustainable solutions available to customers in arrears. Customers in arrears will be...

Written Answers — Department of Finance: NAMA Loan Book (13 Feb 2014)

Michael Noonan: I am advised by NAMA that the information is not currently available in the format sought by the Deputy but that it is currently collating the information in the format requested. I am further advised by NAMA that the informaiton will be provided to the Deputy, subject to any consideration of comericial senstivity,  by the 17th of February 2014.

Written Answers — Department of Finance: Banking Sector Issues (13 Feb 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the bank or their management decisions regarding commercial matters. I have been informed by AIB that the bank does not disclose this information. The bank manages corporate hospitality within its commercial business requirements. AIB has a Code of Conduct in...

Written Answers — Department of Finance: Financial Services Regulation (13 Feb 2014)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA), as Manager of the National Pensions Reserve Fund (NPRF), that State Street Global Advisors are a separate part of the State Street group from that involved in the overcharging issue. State Street Global Advisors managed a passive equity mandate for the NPRF. However, following the publication of the U.K. Financial Conduct...

Written Answers — Department of Finance: Tax Credits (13 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 94 to 96, inclusive, together. I am advised by the Revenue Commissioners that the number of individuals in receipt of the One Parent Family Credit (OPFC), for the years requested by the Deputy, are as set out below.OPFC Year - Number 2010 - 95,500 (Revenue Statistical Report) 2011 - 104,200 (Revenue Statistical Report) 2012 - 101,400 (Estimate) 2013 -...

Written Answers — Department of Finance: Banking Sector Remuneration (13 Feb 2014)

Michael Noonan: As the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in State supported banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses is not permitted. I can confirm that at a meeting which took place between AIB and officials...

Written Answers — Department of Finance: Tax Credits (13 Feb 2014)

Michael Noonan: The new Single Person Child Carer Credit (SPCCC) is of the same value i.e. €1,650 per annum as the one-parent family tax credit and it also carries the same entitlement to the additional €4,000 extended standard rate band, which increases it to €36,800 per annum, before liability to the higher rate of income tax arises. However, the credit is more targeted, in that...

Written Answers — Department of Finance: Living City Initiative (12 Feb 2014)

Michael Noonan: I announced in my Budget Statement that the Living City Initiative, which was enacted in the Finance Act 2013, would be extended to now include the cities of Dublin, Cork, Galway and Kilkenny as well the original target cities of Limerick and Waterford. The inclusion of these four cities within the Initiative followed the results of a thorough independent ex ante cost benefit analysis. ...

Written Answers — Department of Finance: VAT Rate Application (12 Feb 2014)

Michael Noonan: The transport of passengers and their accompanying baggage is exempt from VAT. This includes services provided by the coach and bus sector. This means that a person who provides a bus or coach service does not register for VAT and does not charge VAT on the supply of their services.  This also includes the hiring of a bus or coach with a driver.  Persons who are exempt from VAT...

Written Answers — Department of Finance: Tax Rebates (12 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners who have responsibility for the collection of mineral oil products tax that any rebate on mineral oil tax under national law must conform to the requirements of the EU Energy Tax Directive. That Directive obliges all member states to exempt jet fuel used by airlines and fuel used by shipping in Community waters from duty, but does not allow for a...

Written Answers — Department of Finance: Departmental Bodies (12 Feb 2014)

Michael Noonan: In response to the Deputy's question the following table contains a list of bodies under the aegis of the Department for which the Minister answers Parliamentary Questions pursuant to Standing Order 34. Name  of  Body National Treasury Management Agency  National Treasury Management  Agency Advisory Committee National Pensions Reserve Fund (NPRF) National Pensions...

Written Answers — Department of Finance: Ministerial Appointments (12 Feb 2014)

Michael Noonan: In response to the Deputy's question the following is a list of bodies to which I may appoint board members. Name  of  Body National Treasury Management  Agency Advisory Committee State Claims Agency Policy  Committee National Pensions Reserve Fund Commission National Development Finance Agency (NDFA) Financial Services Ombudsman National Asset  Management...

Written Answers — Department of Finance: Local Authority Functions (12 Feb 2014)

Michael Noonan: The following powers or functions have been conferred on local authorities by legislation introduced by the Department of Finance since June 2009:1. Sections 19 to 21 of the Finance (Local Property Tax) Act 2012 (as amended) confer a power on local authorities to vary the basic rate of Local Property Tax by + or - 15%. These provisions are due to commence with effect from July 2014.  ...

Written Answers — Department of Finance: National Debt (12 Feb 2014)

Michael Noonan: I am informed by the NTMA that a reduction of 50 basis points in the interest rates charged by the EFSF, EFSM, UK, Sweden and Denmark would result in savings on debt service costs of €5 million per annum for every one billion euro outstanding during any particular year.  However, it should be noted that the Government has already negotiated the removal of the interest rate margins...

Written Answers — Department of Finance: Budget Consultation Process (12 Feb 2014)

Michael Noonan: In my 2014 Budget speech, I stated that the 0.6% levy on pension fund assets would end this year but that I was introducing an additional levy of 0.15% for 2014 and 2015, in order among other reasons, to continue to help fund the Jobs Initiative which is being successful in creating and maintaining employment in the areas affected by the measures in the Initiative. Individuals and...

Written Answers — Department of Finance: Universal Social Charge Exemptions (12 Feb 2014)

Michael Noonan: All individuals are liable to pay the Universal Social Charge (USC) if their gross liable income exceeds the threshold of €10,036 per annum.  Each spouse or civil partner is treated individually for the year. The concept of joint assessment for a couple does not apply in relation to the USC. The amount of USC payable will depend on the individual's age and the amount of his or...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (12 Feb 2014)

Michael Noonan: I assume the Deputy to be referring to the Disabled Drivers and Passengers Tax Concession scheme. The criteria relating to the engine size of a vehicle and the relief available for vehicles which qualify under the Disabled Drivers Passenger Scheme have been in place since 1989.  The purpose of the scheme is to provide for ways in which people with a physical disability can become...

Written Answers — Department of Finance: VAT Rate Application (12 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 56 to 60, inclusive, together. The supply of coffins within the State is liable to VAT at the standard rate, which is currently 23%. However, the supply of a coffin by a funeral undertaker as part of a funeral service is exempt from VAT. Funeral undertaking includes transportation of the body before and after it has been placed in the coffin, organisation...