Results 19,401-19,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Universal Social Charge (15 Nov 2012)

Michael Noonan: To estimate the potential yield from applying the universal social charge (USC) to social protection payments it would be necessary to identify certain details in respect of each recipient of social protection payments such as the individual amount of these payments received, the amount of any other income potentially liable to USC, the age of each individual and whether there was an...

Written Answers — Department of Finance: Banking Sector Regulation (15 Nov 2012)

Michael Noonan: Further to Parliamentary Question No. 64 of 12 July 2012, the Central Bank has informed me that since that time it has not received a formal application, or formal plans, from Ulster Bank Ireland Limited to change its regulatory or legal status from that of a subsidiary of Royal Bank of Scotland Group.

Written Answers — Department of Finance: International Financial Services Industry (15 Nov 2012)

Michael Noonan: Membership of the Clearing House Group is comprised of public and private sector representatives and reflects a wide range of experience and expertise so that its objectives of identifying opportunities to develop sustainable business and employment in the various sectors of the international financial services industry can be achieved. The primary focus of the group is to identify and...

Written Answers — Department of Finance: Banks Recapitalisation (15 Nov 2012)

Michael Noonan: As this is a Eurosystem issue relating to the application of the collateral framework rules, it is not under the direction of the Minister. However, please see below the comments from President of the ECB, Mario Draghi, when asked about the matter at the ECB press conference following the Governing Council meeting on 8 November; “Let me first make a clarification, because there has...

Written Answers — Department of Finance: Departmental Consultations (15 Nov 2012)

Michael Noonan: Consultations are taken as a matter of course within the Department with industry groups, professional bodies, trade unions and social partners. I will set out the consultations that have taken place since the beginning of the current year. On foot of the Mazars report on SME lending demand, and in order to understand the situation on the ground and stimulate further ideas to get movement...

Written Answers — Department of Finance: European Banking Sector (15 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 93, 94 and 104 together. European Union Member States, in general, and euro area Member States, in particular, are obliged, under the treaties, to treat each others’ economic and financial affairs as matters of common interest. Further, Member States have committed themselves to undertake measures necessary to correct harmful imbalances. In a...

Written Answers — Department of Finance: Tax Yield (15 Nov 2012)

Michael Noonan: As detailed in the supplementary information published with the end-October Exchequer statement on 2 November, income tax, VAT, corporation tax, stamp duty and capital gains tax are all ahead of profile. Excise duty, capital acquisitions tax and customs duty are behind profile. The supplementary information contains a table which shows the exact performance of each tax head, both compared...

Written Answers — Department of Finance: Job Initiatives (15 Nov 2012)

Michael Noonan: It is a long-standing 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. However, I draw the Deputy’s attention to the following existing incentives in the tax code to encourage individuals to invest in schemes which can lead to job creation: The Employment and Investment Incentive (EII) The...

Written Answers — Department of Finance: Consumer Price Index (15 Nov 2012)

Michael Noonan: The latest data show that consumer price inflation remains moderate, with prices in October 1.2 per cent higher than in the same month in 2011. As measured by the harmonised index of consumer prices (HICP) – the comparable measure of inflation across the EU – prices in Ireland rose at an annual rate of 2.1 per cent in October. While the pass-through of the increase in global...

Written Answers — Department of Finance: Economic Growth (15 Nov 2012)

Michael Noonan: Ireland is continuing to record low, but positive growth. GDP expanded by ½ per cent in the first half of 2012 relative to the same period of last year. The shift in the composition of activity – away from domestic demand and into the exporting sectors – that has characterised developments in recent years is continuing. Support for overall activity is coming from the...

Written Answers — Department of Finance: Household Savings Rate (15 Nov 2012)

Michael Noonan: The household savings rate has been in double digits over the past three years and remains so in the year to date, while household indebtedness in Q2 2012 fell to the lowest level since Q1 2007. This reflects both households' efforts to reduce their high indebtedness built up during the boom years as well as precautionary motives due to the challenging economic environment. In terms of the...

Written Answers — Department of Finance: Economic Growth (15 Nov 2012)

Michael Noonan: Support for overall activity is coming from the exporting sectors, with services exports becoming an increasingly important engine of growth in recent quarters. This, in no small part, reflects the improvements in price and cost competitiveness that have been evident since the onset of the crisis. Such internal price adjustments are crucial for Ireland’s recovery, given that...

Written Answers — Department of Finance: Mortgage Protection Policies (15 Nov 2012)

Michael Noonan: My Department does not keep up to date information on the level of default by insurance companies with particular reference to mortgage or other debt protection. I have made enquiries with the Central Bank about this matter which I understand relates to cases such as where a couple has mortgage protection insurance policy and then fall on hard times and as a result can no longer afford to...

Written Answers — Department of Finance: Economic Competitiveness (15 Nov 2012)

Michael Noonan: My Department monitors the performance of all sectors of the economy on a continuous basis both in terms of official statistics from the CSO and also in terms of high frequency survey based indicators such as purchasing managers’ indices (PMIs) and consumer confidence. The Action Plan for Jobs 2012 sets out a whole-of-Government approach to the Government’s central policy of...

Credit Union Bill 2012: Referral to Select Committee (14 Nov 2012)

Michael Noonan: I move:That the Bill be referred to the Select Sub-Committee on Finance pursuant to Standing Order 82A(3)(a).

Credit Union Bill 2012: Second Stage (Resumed) (14 Nov 2012)

Michael Noonan: I thank all the Deputies who contributed to this very constructive Second Stage debate in which the importance of the credit union movement in Ireland was highlighted. As stated in my initial contribution, the Credit Union Bill 2012 is an important step towards placing the Irish credit union movement on a sustainable path for the longer term. The Government recognises the importance of the...

Seanad: Fiscal Responsibility Bill 2012: Second Stage (14 Nov 2012)

Michael Noonan: I thank all contributors to the debate. I have received some notes from my officials and I will go down through them. It was obviously a very constructive debate, which underlines the importance of the Fiscal Responsibility Bill. The Bill will implement the key provisions of the stability treaty, as voted for by the people. As Senator Reilly said, there might not have been any mass...

Seanad: Fiscal Responsibility Bill 2012: Second Stage (14 Nov 2012)

Michael Noonan: I am pleased to have the opportunity of introducing the Second Stage reading by the Seanad of the Fiscal Responsibility Bill 2012. I thank Members of the Seanad for agreeing to discuss it today. With regard to the topic of fiscal responsibility, the Seanad has a head start over the Dáil because of the Fiscal Responsibility (Statement) Bill 2011 which was introduced by Senator Barrett....

Written Answers — Department of Finance: Bank Debt Restructuring (14 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. To answer the Deputy's questions would necessitate an ability to identify those holders of securities guaranteed by the Irish Government, who were financial institutions with recourse to the German sovereign for support. I refer the Deputy to my previous reply on 13 November 2012 which outlined the difficulties in establishing the...

Written Answers — Department of Finance: Budget 2013 (14 Nov 2012)

Michael Noonan: Budget 2013 is the culmination of a year long budgetary process. The development of the Budget consists of many important elements, including the publication of the Stability Programme Update and the Medium-Term Fiscal Statement. Regarding the Budget, meetings take place throughout the year between my officials and officials of other organizations, such as the NTMA, the Revenue...