Results 22,061-22,080 of 27,019 for speaker:Michael Noonan

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: Sinn Féin wants to abolish it. Even if the tax was on a house worth €10 million, Sinn Féin wants to have it abolished. Its position is illogical. The domicile levy introduced in budget 2010 also constitutes a wealth tax. It is aimed at high wealth individuals with a substantial connection to Ireland, regardless of whether they are tax resident, to ensure they make a tax...

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: The wealth is in the farmyard, it includes such things as the milking parlour, the machinery and tractors.

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: Will Senator Cullinane inform the House whether he is taxing it or not? His proposal as published would imply that he is not exempting it, so therefore he is taxing it. There is also a proposal to tax money on all deposits in excess of €1 million. I do not know many people who have €1 million on deposit, but even those who have it now will be gone at the press of an electronic...

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: It is an asset.

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: I did not say that.

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: Those are the questions that people are going to ask.

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: I already said in my answer that the Department of Finance has an arrangement with the ESRI to do a full survey of what would be described as wealth. For the first time, the Department is taking steps to have the kind of base the Senator is talking about. We are not doing it for the purposes of introducing a wealth tax. It is useful information to know the distribution of income and wealth...

Seanad: Finance Bill 2015: Committee Stage (Resumed) (10 Dec 2015)

Michael Noonan: The local property tax, LPT, is designed to provide a more sustainable system of funding for local government and place the provision of local services on a sounder financial footing. It will lead to greater transparency and accountability at a local level and it is certain that the stronger democratic relationship and clearer lines of accountability created can only have a beneficial impact...

Seanad: Finance Bill 2015: Report and Final Stages (11 Dec 2015)

Michael Noonan: The rationale behind the changes referred to in the recommendation was explained on Committee Stage, and officials in the Department of Finance furnished further information to Senators Darragh O'Brien and Mark Daly as requested. I reiterate that the employment and investment incentive, EII, is targeted at job creation and retention and is available to the majority of small and medium-sized...

Seanad: Finance Bill 2015: Report and Final Stages (11 Dec 2015)

Michael Noonan: Senator O'Brien's amendment was one worth considering and, in the interest of debating the legislation properly, we welcomed it. At the end of the day, however, we had to design the scheme in accordance with the regulations which are now being applied by the European Commission and they narrow the intended scope of the scheme. We would wish it had been broader but in my experience, it is...

Written Answers — Department of Finance: Flood Risk Insurance Cover (15 Dec 2015)

Michael Noonan: I am very much aware of the difficulties that the absence of flood insurance cover can cause to householders and businesses. However, neither I nor the Central Bank of Ireland, have the power to direct insurance companies to provide flood cover to specific individuals. With this in mind, the Government's strategy on insurance and flooding is focused on ways to...

Written Answers — Department of Finance: NAMA Social Housing Provision (15 Dec 2015)

Michael Noonan: I would refer the Deputy to my response to Parliamentary Question 72 of 10th December 2015, among others, on the same topic. In that response,  I pointed out that NAMA  is not a property developer. NAMA's role is, like the owner of any non-performing loan, that of a secured lender which makes a commercial decision to advance funding to maximise its...

Written Answers — Department of Finance: Tax Code (15 Dec 2015)

Michael Noonan: The levels of discretionary revenue measures for the period 2015 to 2021 are set out in Table A6 on page C.49 of the Budget 2016 book. A breakdown of measures for the period 2017 - 2021 is set out in the following table. Discretionary revenue Measures 2017 2018 2019 2020 2021 € billion Carryover of Budget 2016 measures -0.30 Carryover of 2016 non-indexation of Tax system...

Written Answers — Department of Finance: Departmental Staff Data (15 Dec 2015)

Michael Noonan: I wish to inform the Deputy that my Department is committed to the Civil Service Workforce Planning process, has a robust Recruitment and Selection policy which feeds into an ongoing Resource Review conducted and directed by the Executive Board. This process identifies on a case by case basis, both current and upcoming resource requirements in my Department. As part of the workforce...

Written Answers — Department of Finance: Central Bank of Ireland Staff (15 Dec 2015)

Michael Noonan: The Central Bank has provided me with the below information about 56 vacancies that exist in the organisation. This would translate into an overall vacancy rate at the Bank of approximately 3% of its total staff complement. Directorate Competition Name Campaign Open Since: No. of Roles: Time Open (weeks): Credit Institutions Supervision Senior Supervisor 03/11/2015 1 5.3 Head of Banking...

Written Answers — Department of Finance: Credit Unions Regulation (15 Dec 2015)

Michael Noonan: The Credit Union and Co-operation with Overseas Regulators Act 2012 (2012 Act) was signed into law by the President in December 2012. It was agreed at that time that it would be neither practical nor feasible to commence the 2012 Act in its entirety in one fell swoop. Following on from that, an implementation timetable for the 2012 Act was devised in consultation with...

Written Answers — Department of Finance: Departmental Bodies Expenditure (15 Dec 2015)

Michael Noonan: In response to the Deputy's query I would like to advise that as the Office of Public Works manages and maintains the State's property portfolio the Minister with responsibility for the Office of Public Works is better placed to advise you on ground rents paid with respect to all properties managed by that Office. My Department and certain bodies under...

Written Answers — Department of Finance: Tax Reliefs Data (15 Dec 2015)

Michael Noonan: I am informed by the Revenue Commissioners that, due to their obligation to observe the confidentiality of taxpayers' information and the low numbers availing of this scheme, it is not possible to provide the information requested by the Deputy on a county by county basis. However, to provide some indication of the distribution of the scheme, the Deputy may be interested in the indicative...

Written Answers — Department of Finance: Living City Initiative (15 Dec 2015)

Michael Noonan: I refer to the individual's letter in relation to the Living City Initiative scheme. The Living City Initiative was first introduced in 2013 for the Limerick and Waterford areas. The scope of the Initiative was subsequently extended to Dublin, Cork, Galway and Kilkenny and broadened to incorporate houses constructed prior to 1915.  A tax relief must be designed within certain...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (15 Dec 2015)

Michael Noonan: The responsibility for grant funding for such projects would not be a matter for me as Minister for Finance. Such grant funding may fall under the remit of the Local Enterprise Office (e.g the Business Expansion Grant may be available subject to eligibility).  Standard capital allowances may also be available regarding a refurbishment subject to the relevant legislation, guidelines...