Results 19,241-19,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: National Asset Management Agency (21 Nov 2012)

Michael Noonan: NAMA informs me that it cannot provide all the details requested by the Deputy in the time available. NAMA has undertaken to provide me with this information within the next week and, accordingly, I will issue a reply to the Deputy at that stage.

Written Answers — Department of Finance: Tax Reliefs (21 Nov 2012)

Michael Noonan: The position is, as I stated in my Budget day speech on 6 December 2011, and on many occasions in this House since, that mortgage interest relief for principal private residences will no longer be available to house purchasers who purchase after the end of 2012 and will be fully abolished from 2018. This means that a loan will have to be drawn down on or before 31 December 2012 in order to...

Written Answers — Department of Finance: Ministerial Meetings (21 Nov 2012)

Michael Noonan: The information is set out in the table below. Institution No. of meetings Date Attendees Chairman CEO PTSB 3 17 May 2011 10 June 2011 11 July 2012 Previous CEO & Chairman Previous CEO & Chairman CEO Mr Alan Kelly Mr Alan Kelly Mr Kevin Murphy* Mr Kevin Murphy Mr Jeremy Masding* AIB 1 19 Sept 2011 CEO & Chairman Mr David Hodgkinson Mr David Duffy BOI 4 29...

Written Answers — Department of Finance: Exchequer Revenue (21 Nov 2012)

Michael Noonan: Ireland is generally considered to be a particularly open economy with imports accounting for over three quarters of GDP. A considerable share of spending by households and firms leaves the economy on imported goods, while at the same time a considerable share of the outputs of Irish firms is exported abroad leading to payment coming into Ireland. Evidence of the high import content of...

Written Answers — Department of Finance: Semi-State Sector Remuneration (21 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 67 and 68 together. The table sets out the information requested by the Deputy. Semi-State and State agency executives and employees that have salaries of more than €100,000 per year The legislation which established the NTMA in 1990 deliberately positioned it outside of public service structures with operational freedom to negotiate market-competitive...

Written Answers — Department of Finance: Semi-State Sector Remuneration (21 Nov 2012)

Michael Noonan: NTMAemployees are members of the NTMA defined benefit superannuation scheme or else have Personal Retirement Savings Accounts. The pension benefits of members of the NTMA superannuation scheme prior to 1 January 2010 are based on final salary. The pension benefits of members who joined the scheme on or after 1 January 2010 are based on career average earnings. Unlike most public pension...

Written Answers — Department of Finance: Property Ownership (20 Nov 2012)

Michael Noonan: The Central Bank of Ireland has advised me that it does not collate statistics on the amount of land repossessed by financial institutions. The Central Bank publishes mortgage arrears and repossession statistics in respect of houses only. The latest figures for end Quarter 2 are available on the Central Bank’s website. Policy and information in relation to mineral rights on...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides for a scheme of tax relief for donations to eligible charities and other approved bodies. An “eligible charity” means any charity which is authorised in writing by the Revenue Commissioners for the purposes of this scheme. An authorisation will not issue unless the applicant charity: - is a body of persons or trust...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: It is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. The Deputy will be aware that tax relief is already available at the taxpayers’ marginal rate in respect of the cost of employing a person (including a person whose services are provided by or through an agency) to take...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: In its interim report of June 2011, the Bank disclosed that it had made a provision of €67m following an internal review of historical interest rate setting procedures as applied to certain loan accounts. I have been advised that this internal review, which was conducted in 2010, addressed the period from 1996 to 2004, to determine whether interest rates applied to customer loan...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: The issue of whether or not the statute of limitation applies to any specific scenario is a legal question, to be determined by a Court on the basis of the relevant legislation, the specific fact set and applicable timelines. I have been informed that following the Bank’s historical interest rate review project, undertaken in 2010, a decision was taken by the Bank not to rely upon the...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (20 Nov 2012)

Michael Noonan: I have been advised by IBRC that the Historical Interest Rate Review project, carried out a tender process for the appointment of an external advisor to conduct an independent third party review of the project. KPMG were subsequently appointed and carried out their review in two phases during 2011. Phase 1 covered the period 1996 to 2004 and KPMG reviewed the following: - Project set up -...

Written Answers — Department of Finance: Tax Yield (20 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 177 to 179, inclusive, together. The Government introduced a temporary levy on funded pension schemes and personal pension plans in order to fund the measures introduced in last year’s Jobs Initiative. The measures introduced as part of the Jobs Initiative include a new 9% VAT rate on certain activities, the halving of the lower rate of PRSI and...

Written Answers — Department of Finance: Budget 2013 (20 Nov 2012)

Michael Noonan: I am aware of the concerns about the impact of the current Budget timetable on Christmas trading volumes. The budget generally takes place in the first week of December in order to ensure that it is underpinned by the most robust data available including the very significant proportion of corporation and income tax revenues that are paid into the Exchequer in November. This enables an...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: AIB has informed me that it is in an on-going process of writing to former senior executives of both AIB and EBS requesting a voluntary reduction in their pension levels. The individuals served in senior management, lending or control positions across the institutions during the period 2005-2008. AIB is not disclosing the names of the individuals on confidentiality grounds but the Bank has to...

Written Answers — Department of Finance: Banking Sector Remuneration (20 Nov 2012)

Michael Noonan: The Deputy should note that I have already provided the information he seeks when responding to his parliamentary question of 15 November 2012 (Ref No 50590/12) on the same subject. For his convenience I am including the information below. “The Deputies will be aware that my Department is presently engaged in a Review of Remuneration Practices and Frameworks at the covered...

Written Answers — Department of Finance: Tax Reliefs (20 Nov 2012)

Michael Noonan: The position is that the dual abode allowance was introduced as and from the income tax year 1966/67. The allowance was granted under Rule 3 of Schedule 2 to the Income Tax Act 1967, now section 114 of Taxes Consolidation Act 1997. Section 851A of the Taxes Consolidation Act 1997, which was inserted by the Finance Act 2011, placed on a formal statutory basis the long-standing and accepted...

Written Answers — Department of Finance: Credit Unions Regulation (20 Nov 2012)

Michael Noonan: I am not aware of other OECD countries which set out terms limits and board restrictions in primary legislation. The Commission on Credit Unions was charged with bringing forward recommendations for the Irish credit union sector. It was not bound to limit its thinking to approaches in place in other financial sectors or in other jurisdictions. The Report is tailored to the Irish credit union...

Written Answers — Department of Finance: Public Sector Pensions (20 Nov 2012)

Michael Noonan: The institutions referred to in your question have supplied me with the following information: Due to data protection legislation I cannot release personal data and therefore I can only supply the information in the following table in response to the question. It includes all staff in AIB, BOI, PTSB, IBRC, NTMA, and NAMA. Number of staff retired since 2008 in receipt of pension payments...

Written Answers — Department of Finance: Public Sector Pensions (20 Nov 2012)

Michael Noonan: In relation to your enquiry regarding the number of current staff who will receive pension payments on retirement of between €100,000 and €200,000, between €200,000 and €300,000 and €300,000 and €400,000 and the number with more than €500,000 at each of the covered banking institutions, the National Treasury Management Agency and National Asset...