Results 17,121-17,140 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Arrears Proposals (21 Mar 2013)

Michael Noonan: The Central Bank of Ireland when it published its mortgage arrears data for end of September 2012 also, for the first time, included data on buy-to-let properties. The focus by Government is primarily on formulating and implementing appropriate measures to assist those homeowners who are experiencing genuine difficulty with the mortgage repayments on their principal home. In that regard,...

Written Answers — Department of Finance: Economic Growth (21 Mar 2013)

Michael Noonan: In 2012, the slowdown of the European economy was larger than expected. However, fourth quarter data suggest that the euro area economy bottomed out at the end of 2012. Recent high-frequency indicators have provided some positive signals: euro area PMI data improved significantly in January to reach a 10-month high, the European Commission’s Economic Sentiment Indicator has increased...

Written Answers — Department of Finance: IBRC Liquidation (21 Mar 2013)

Michael Noonan: I can advise the Deputy that providing previous legal services to IBRC would not in itself preclude a firm from advising in support of the preparation of the IBRC legislation and the arrangement involving the IBRC Promissory Notes. As the Deputy is aware, there is a small pool of sufficiently resourced legal firms operating in Ireland and it is likely that a number of these would have...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (21 Mar 2013)

Michael Noonan: I am advised that it is the intention of the Special Liquidators to package and sell the mortgage book as a portfolio. Borrowers (whose total debt is in excess of an amount to be determined by the Special Liquidators), third parties and other financial institutions will be given the opportunity to bid for specific portfolios (or component parts thereof) as part of an open and transparent process.

Written Answers — Department of Finance: Strategic Investment Bank Establishment (21 Mar 2013)

Michael Noonan: The establishment of the Strategic Investment Fund (SIF) was announced by the Government in September 2011. Resources from the National Pensions Reserve Fund (NPRF) will be channeled through the SIF towards productive investment on commercial terms in the Irish economy. The SIF will seek matching commercial investment from the private sector in order to maximise the resources of the NPRF. ...

Written Answers — Department of Finance: Economic Policy (21 Mar 2013)

Michael Noonan: The Irish Presidency of the Council of the EU has secured agreement on 20th February 2013, on behalf of euro area member countries, with the European Parliament and the European Commission, on two proposed regulations – the “two-pack”. It is expected that the measures will be formally adopted in May or June 2013. One of the proposals is on the monitoring and assessment...

Written Answers — Department of Finance: European Investment Bank Loans (21 Mar 2013)

Michael Noonan: There has been continued close engagement with the European Investment Bank (EIB) since President Werner Hoyer’s visit last July when he met with the Taoiseach as well as the Minister for Public Expenditure and Reform and myself. This visit led to the establishment of a Joint High Level Working Group between my Department and the EIB to enable close collaboration on projects aimed at...

Written Answers — Department of Finance: European Stability Mechanism (21 Mar 2013)

Michael Noonan: On 29th June 2012 the Euro Area Heads of State or Government (HoSG) agreed that “... it is imperative to break the vicious circle between banks and sovereigns”. The same statement also made explicit reference Ireland, noting the need to further improve “the sustainability of the well-performing adjustment programme”. They also stated “when an effective...

Written Answers — Department of Finance: Mortgage Arrears Rate (21 Mar 2013)

Michael Noonan: The Central Bank of Ireland publishes mortgage arrears statistics on both principal private residences and “buy to let” properties. The most recent available data indicates that, at the end of 2012, 11.9% of PDH and 18.9% of BTL mortgage accounts were in arrears of more than 90 days. The Central Bank has informed me that it does not publish a geographical breakdown of these...

Written Answers — Department of Finance: Banks Recapitalisation (21 Mar 2013)

Michael Noonan: The European Stability Mechanism Bill was published in May 2012 and enacted in July 2012. Subsequently, the inaugural meetings of the Board of Governors and Board of Directors of the ESM took place in the margins of Ecofin on the 8th and 9th October 2012. The Eurogroup has discussed the issue of direct recapitialisation by the ESM on three occasions this year (21st January, 11th February...

Written Answers — Department of Finance: EU-IMF Programme of Support Issues (21 Mar 2013)

Michael Noonan: As part of its response to the global economic and financial crisis, the EU has adopted a number of measures. The first of these is EU2020, the EU’s growth strategy for the decade which aims to make the EU a smart, sustainable and inclusive economy. This was followed by the European Semester to which was added the Euro Plus Pact and the so-called ‘six-pack’ which came...

Written Answers — Department of Finance: Property Taxation Exemptions (21 Mar 2013)

Michael Noonan: Section 10A of the Finance (Local Property Tax) Act 2012 (as amended) provides for an exemption for a temporary period from the charge to Local Property Tax (LPT) for residential properties that have been certified as having significant pyritic damage. I am advised that the Minister for Environment, Community and Local Government will be making regulations shortly setting out the methodology...

Written Answers — Department of Finance: Tax Code (21 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that tax administration in Ireland operates under a code of Self-Assessment where tax entities are obliged by law to declare and pay the correct tax on a timely basis. Failure to either make a correct return/declaration or pay the correct amount in full will result in action to recover any additional tax and, where appropriate, the application of...

Written Answers — Department of Finance: An Ghníomhaireacht Mhapaíochta Náisiúnta (21 Mar 2013)

Michael Noonan: Comhairlíonn na Coimisinéirí Ioncaim dom gur tionscadal rathúil comhoibritheach idir na Coimisinéirí Ioncaim agus Suirbhéireacht Ordanáis Éireann (SOÉ), an Ghníomhaireacht Mhapaíochta Náisiúnta, é an suíomh idirlín um threoir luachála. Comhairlítear dom freisin go bhfuil gach iarracht á...

Written Answers — Department of Finance: Motor Tax Yield (21 Mar 2013)

Michael Noonan: Motor tax receipts for 2011 were €1.012bn and for 2012 were €1.043bn. All monies collected from motor tax are paid into the Local Government Fund. In 2011 no money was transferred to the Exchequer; in 2012 a sum of €46.5m was transferred from the Local Government Fund to the Exchequer. Approximately 34% of the Fund is transferred to the Department of Transport,...

Written Answers — Department of Finance: IBRC Account Holders (21 Mar 2013)

Michael Noonan: Neither I nor the Special Liquidators are able to discuss the circumstances of individuals who had accounts with IBRC and it would not be appropriate to discuss such matters through Dáil business. However I would suggest that individual customers take up their concerns with the Special Liquidators and IBRC (in liquidation) directly. I have been advised that the Liquidator is aware of...

Written Answers — Department of Finance: Property Taxation Exemptions (21 Mar 2013)

Michael Noonan: The Non-Principal Private Residence (NPPR) Charge is a matter for my colleague, the Minister for the Environment, Community and Local Government. Section 4(6) of the Local Government (Charges) Act 2009 provides an exemption from payment of the NPPR Charge in the case of a residential property that is occupied as a sole or main residence by a relative or relatives of the owner of the property...

Written Answers — Department of Finance: Mortgage Arrears Rate (21 Mar 2013)

Michael Noonan: In their quarterly mortgage arrears and repossession statistics, the Central Bank also publishes data on the number of mortgages that have been restructured. In the most recent data that was published on 7 March last, the Central Bank indicated that, in aggregate, as at the end of December 2012, some 79,852 PDH mortgages and 21,800 BTL mortgages were restructured. However, the Central Bank...

Written Answers — Department of Finance: Tax Reliefs Availability (21 Mar 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the total identifiable costs to the Exchequer which are currently available relate to income tax and corporation tax allowances, reliefs, exemptions and tax credits available as set out in the following tables for 2008 and 2009, the most recent year for which the necessary detailed historical information is available. It should be noted that...

Written Answers — Department of Finance: Budget 2012 (21 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 75 and 81 together. As stated at the time, Budget 2012 was designed in such a way as to encourage sustainable growth and to be as job-friendly as possible. In accordance with this objective a number of sectoral measures were introduced to support employment creation as part of Budget 2012, targeting job-rich sectors such as agriculture and construction. I...