Results 21,781-21,800 of 27,019 for speaker:Michael Noonan
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: The Deputy made a criticism of the governance of the State on the basis that we did not know the exact wealth of each citizen. I do not see that as a criticism.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: I doubt it. Perhaps they would want it to know about their neighbours, but not about themselves.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: That is very simple - because surplus income is converted to wealth in normal situations.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: It is not-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: As I said to Deputy Peadar Toibín, Deputy Richard Boyd Barrett is at liberty to argue the case and put forward proposals to the electorate. I just disagree with him, but I am also pointing to the difficulties in his construction. We have wealth taxes - capital taxes - and they are imposed at high rates. If one transfers property or anything else to somebody else, there is gift tax at...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: I can help the Deputy on that point. The Department of Finance has agreed a multi-year joint research programme with the ESRI on taxation policy and the macro-economy. Under this research partnership, economists in my Department will work alongside ESRI researchers on various new tax-related research topics aimed at gaining a better understanding of the links between various taxes,...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: What I said was there was no base for a wealth tax available anywhere in the country, but we constantly upgrade our research.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: First, the local property tax is a tax on all property and so it includes multi-property owners, as described by the Deputy.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: To differentiate and isolate multi-property owners would not be, I suggest, to target the very wealthy. Many second homes are holiday homes that are owned by retired people and are located around the coast in places like Wicklow, Wexford, Connemara, Kerry and Donegal.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: Many of these houses are holiday homes bought by retired public servants through their pensions. That is the Deputy's definition of the wealthy. As well as that, since the famous Supreme Court case taken by a former President when practising at the law, a caravan is a residence rather than a vehicle such that mobile homes and caravans would be included as well. The Deputy needs to examine...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: The Deputy referred to a tax on second residences.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: For example?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: How long does the Deputy think deposits in excess of €1 million would remain in banks in Ireland if people were hit with a property tax of 3% or 4%? How long does the Deputy think those deposits would remain here in these days of electronic transfer of money?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: Deputy Boyd Barrett is visiting Greece too often.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: I must refresh myself on Sinn Féin's wealth tax proposal because the last time I read it, it contained a proposal in relation to the exemption of land. During his contribution just now Deputy Tóibín included land in the list of assets in respect of which the wealth tax would apply.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: Working land?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: What does the Deputy mean by "working farmland"?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: If the advised stocking level of a farm is 60 cows and associated calves, is the land of an elderly couple living on a farm which has 15 cows rambling around it working land?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: My Department is not making this proposal.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)
Michael Noonan: I thought the position of Sinn Féin was that the price of zoned land is too high and is making too big a contribution to the cost base of ordinary starter homes such that we need to reduce the price of land for starter homes rather than increase it by imposing a 4% tax on it.