Results 2,381-2,400 of 27,019 for speaker:Michael Noonan

Written Answers — State Banking Sector: State Banking Sector (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 58 and 158 together. As I said in a reply to a question from Deputy Flanagan on 21 June, ensuring that a strategic investment bank is operating in the domestic banking market, providing finance to large capital projects and acting as a conduit for venture capital as well as a lender to SMEs, is an objective in the programme for Government. A comprehensive...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The EU/IMF Programme of Financial Support for Ireland under its fiscal consolidation measures commits to the introduction of a property tax for 2012 and to an increase in the property tax for 2013. Decisions have yet to be taken on the precise legal mechanism to be used to introduce a property tax, what form that tax will take, and whether it will be introduced in tax legislation such as...

Written Answers — Debt Crises: Debt Crises (5 Jul 2011)

Michael Noonan: While the underlying economic and fiscal situations in Ireland and Greece are very different, both countries clearly have to restore their economy to health and their public finances to a sustainable position. For example, the EU Commission Spring Forecasts project that Irish General Government Debt will be 112% of GDP at end-2011, while Greek General Government Debt will be some 158% of GDP....

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: As provided for in the Finance (No. 2) Act 2011, a second reduced VAT rate of 9% came into effect on a temporary basis in respect of certain services and goods mainly related to tourism on 1 July 2011 for the period up to end 2013. Specifically the 9% rate will apply to restaurant and catering services; hotel and holiday accommodation; various entertainment services such as admissions to...

Written Answers — Mortgage Assistance: Mortgage Assistance (5 Jul 2011)

Michael Noonan: This Government is fully aware of the difficulties that many homeowners, through no fault of their own, are having in meeting their mortgage repayments in respect of their principal private residence. There are a number of existing measures in place to assist homeowners in difficulty. These measures include the Central Bank of Ireland's Code of Conduct on Mortgage Arrears, the services...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: As the Deputy will be aware we are seeking a reduction in the interest rate being charged on EU funds and have already explained our position in this regard to Christine Lagarde in her previous role as French Finance Minister. I am confident she is aware of our position but the IMF has no direct role in the decision on the interest rate for EU funds. As the Deputy is aware Ireland supported...

Written Answers — Jobs Initiative: Jobs Initiative (5 Jul 2011)

Michael Noonan: The Jobs Initiative 2011 brought forward a number of sectoral measures and tax/PRSI changes. The purpose of these measures is to assist in employment generation, to provide opportunities for those who have lost their jobs and thus generate confidence in the economy. The Jobs Initiative should be viewed as one element of a wider strategy to support economic activity. The Finance (No. 2) Act...

Written Answers — State Visits: State Visits (5 Jul 2011)

Michael Noonan: There were no costs to my Department arising from the visits of Queen Elizabeth and President Obama. I understand that the Office of Public Works and the Departments which incurred the major costs arising from these visits will respond to the Deputy on their own behalf.

Written Answers — Constitutional Amendments: Constitutional Amendments (5 Jul 2011)

Michael Noonan: The Programme for Government contains a commitment to a referendum to protect the right of citizens to communicate in confidence with public representatives. In addition, there is a commitment that we will legislate and change Dáil standing orders to support the confidentiality of information entrusted to members of the Dáil by their constituents or informants. The Minister for Public...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending...

Written Answers — Departmental Funding: Departmental Funding (5 Jul 2011)

Michael Noonan: As the Deputy is aware, I recently announced this Government's Jobs Initiative. The Initiative provided for a further €30 million for school works and associated works in 2011 over the existing allocation. Some €20 million of this is being reallocated by the Minister for Education and Skills from within his own Department's allocation. A further €10 million of Exchequer funding has been...

Written Answers — Debt Crises: Debt Crises (5 Jul 2011)

Michael Noonan: The main channel through which the Greek sovereign debt crisis is impacting on Ireland is through a widening of sovereign bond spreads. It must be remembered, however, that Ireland is not dependent upon market financing at the moment, so that higher yields are simply notional as opposed to actual costs. In the various discussions that I have had with our EU partners, I have stressed the...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 71 and 72 together. As part of the Memorandum of Understanding (MOU) on Specific Economic Policy Conditionality of the Joint EU/IMF Programme of Financial Support for Ireland, actions for the fifth review or to be completed by the end of the fourth quarter of 2011 include the presentation of a Budget for 2012 to include budgetary consolidation measures...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: The gradual reduction from marginal to standard rate tax relief on pension contributions commencing in 2012 forms part of the fiscal consolidation measures in the agreement with the EU, IMF and the ECB over the period 2011 to 2014. When introducing the temporary pension scheme levy to pay for the Jobs Initiative on 10 May last, I gave a commitment to examine the issue of reducing the tax...

Written Answers — Judcial Remuneration: Judcial Remuneration (5 Jul 2011)

Michael Noonan: This is a matter for the Revenue Commissioners. Section 161 of the Finance Act 2010 provides for a voluntary scheme that enables members of the Judiciary to make a gift to the State of an equivalent amount to the pension related deduction imposed on State employees under the Financial Emergency Measures in the Public Interest Act 2009. Subsection (8) of that Section provides that, inter...

Written Answers — National Asset Management Agency: National Asset Management Agency (5 Jul 2011)

Michael Noonan: As Minister for Finance I met with the NAMA Board on 13 April 2011 when I explained that I expect the agency to comply with the Government commitment to the highest standards of transparency to the maximum extent possible. This is an issue which I will be following closely. There are a range of statutory reporting requirements which ensure transparency of NAMA operations. Apart from the...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: The Programme for Government states that as part of the Government's fiscal strategy we will maintain the current rates of income tax together with bands and credits. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending...

Written Answers — Office of the Ombudsman: Office of the Ombudsman (5 Jul 2011)

Michael Noonan: The Ombudsman (Amendment) Bill 2008 was published in July 2008. The Bill completed all stages in the Dáil in June 2010 and is awaiting second stage in the Seanad. The primary purpose of the Bill is to extend the Ombudsman's remit. This Bill represents the most significant extension of the Ombudsman's remit in almost 30 years. The main areas being included are third level education...

Written Answers — Tax Code: Tax Code (5 Jul 2011)

Michael Noonan: Budget and Finance Act 2011 introduced a range of measures which reduced tax expenditures. Principal amongst these were: · Reduction of Income Tax credits, bands and exemption limits; · Removal of various Stamp Duty reliefs and exemptions; · Abolition of a scheme of accelerated capital allowances for farmers. I have initiated a public consultation as part of an economic impact assessment...

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2011)

Michael Noonan: As the Deputy will be aware, the EU – IMF support programme provides for a total of €85 billion in financial support from both internal and external sources – with €17.5 billion of this being provided from our own resources. When the programme was announced €50 billion was identified as being available for the exchequer funding with the remaining €35 billion identified as being...