Results 2,561-2,580 of 27,019 for speaker:Michael Noonan

Written Answers — Consultancy Contracts: Consultancy Contracts (14 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. The tables below show amounts that were paid to the company referred to in question 20582 by my Department and the Comptroller and Auditor General in the past decade. Department of Finance Year Amount Detail (Company Mentioned in 20582) 2002 26,156 Training Course 2002 103,697 BFI Regulatory Structures & Disposal 2002 9,218 Change...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Jul 2011)

Michael Noonan: I am informed by NAMA that the contractual details of all contracts between the agency and individual service providers are negotiated on a case-by-case basis, are commercially sensitive and are confidential. I am advised by NAMA that legal and consultancy fees incurred in 2009 in setting up NAMA were €1.63m and relate to legal and consultancy expenses associated with the establishment of...

Written Answers — Parliamentary Questions: Parliamentary Questions (14 Jul 2011)

Michael Noonan: I am not aware of any study having been carried out into the cost to the Exchequer of answering a Parliamentary Question. Whether such a study would produce meaningful financial information is debatable. The cost of answering a Parliamentary Question will vary considerably according to the nature of the question asked. This would inevitably result in significant differences in the costs...

Written Answers — Consultancy Contracts: Consultancy Contracts (14 Jul 2011)

Michael Noonan: I take it that the Deputy is referring solely to public relations costs and not to advertising costs that would be incurred by my Department in the normal course of business, such as entries into telephone directories, the placing of advertisements in national newspapers, recruitment advertising, advertising associated with the national development plans, e-tenders etc. The table below...

Written Answers — Banking Sector: Banking Sector (14 Jul 2011)

Michael Noonan: I would point out to the Deputy that as part of the Programme for Government we committed to restructuring bank boards and to replacing all directors who presided over the failed lending practices in the period to September 2008. As the Deputy is aware, Bank of Ireland is engaged in an ongoing programme of change, including renewal at management and board level. In the interests of...

Written Answers — Departmental Bodies: Departmental Bodies (14 Jul 2011)

Michael Noonan: The composition of a body such as a Fiscal Advisory Council is critical to its independence and credibility. A significant number of potential candidates from backgrounds such as academia and public finance was considered against a range of criteria. In this regard, appropriate technical knowledge and expertise as well as the background and experience of the potential nominees and the...

Written Answers — Banking Sector: Banking Sector (14 Jul 2011)

Michael Noonan: Some 480 expressions of interest were received by the closing date specified in response to the advertisement to the commitment in the Programme for Government to construct a pool of experienced directors to be inserted into non-executive positions in banks receiving State support. The shortlisting and evaluation work on this large volume of applications is at an advanced stage. The Deputy...

Written Answers — Banking Sector: Banking Sector (14 Jul 2011)

Michael Noonan: At the outset, I should state that the relationship between Anglo and the Quinn Group is a commercial one. Under the Relationship Framework put in place under the Anglo Irish Corporation Act 2009, which governs the relationship between the bank and its shareholder the State, issues relating to commercial activities at the bank are a matter for the board in respect of which, as Minister for...

Written Answers — Banking Sector: Banking Sector (14 Jul 2011)

Michael Noonan: At the outset, I should state that the relationship between Anglo and the Quinn Group is a commercial one. Under the Relationship Framework put in place under the Anglo Irish Corporation Act 2009, which governs the relationship between the bank and its shareholder the State, issues relating to commercial activities at the bank are a matter for the board in respect of which, as Minister for...

Written Answers — Company Administration: Company Administration (14 Jul 2011)

Michael Noonan: The Deputy should note that the Joint Administrators have indicated to my Department that no proposal was received from the Quinn family until the 5/4/2011 nearly 6 months after the deadline for expressions of interest. The Joint Administrators responded to the family on the 11/4/2011 setting out their concerns surrounding their proposal. They say that the proposal was highly conditional in...

Written Answers — Banking Sector: Banking Sector (14 Jul 2011)

Michael Noonan: The information supplied by the Deputy is not precise enough to allow for his question to be addressed. If he wishes to be more specific in his request I will see what data can be procured for him. Whilst it is difficult to address this question precisely, it can be say that, as agreed with the Trokia, steps have been taken by the Department to reduce the cost to the State through burden...

Written Answers — Company Administration: Company Administration (14 Jul 2011)

Michael Noonan: At the outset, it should be noted that the Joint Administrators were appointed by the High Court at the request of the Central Bank because of concerns about the solvency position of the company under the 1983 Insurance No.2 Act. These concerns have proved to be valid based on the recently published financial results for QIL for 2009 which indicated very serious losses much of which was...

Written Answers — Banking Sector Staff: Banking Sector Staff (14 Jul 2011)

Michael Noonan: The Deputy will be aware that the individual in question was nominated to be a public interest director by my predecessor under the provisions of the Credit Institutions (Financial Support) 2008 legislation and was subsequently appointed by AIB to their board in accordance with the rules and regulations for such appointments with effect from 22 January 2009. Eleven other public interest...

Written Answers — EU-IMF Programme: EU-IMF Programme (14 Jul 2011)

Michael Noonan: Quarterly reviews such as the one which started last week are a standard feature of financial support programmes. The purpose of the reviews is to assess the progress of the programme to date, and in particular to determine if the targets for the relevant quarter had been met. It also considered progress on targets which are due in subsequent quarters, to ensure sufficient progress is being...

Written Answers — Departmental Expenditure: Departmental Expenditure (14 Jul 2011)

Michael Noonan: The Department of Finance makes no payment directly to any trade union. Any funding or contribution made prior to the establishment of the Department of Public Expenditure and Reform will be covered in the response being provided by that Department. The Office of the Revenue Commissioners does not pay or supply funding directly or indirectly to trade unions or related bodies or causes....

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the possibility of an arrangement of the kind referred to by the Deputy has been examined in the context of substituting marked diesel with a general excise repayment scheme for qualifying consumers across all sectors. It was considered, however, that it would impose significant cashflow and administrative costs on businesses and consumers, pose...

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: The stamp duty levy of 0.6% applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. I cannot say what the precise impact of the levy will be on individual funds, schemes or members as this depends on whether and to what extent pension fund trustees and Life Offices decide to pass on the levy to...

Written Answers — Pension Provisions: Pension Provisions (19 Jul 2011)

Michael Noonan: I am informed by the Revenue Commissioners that Approved Minimum Retirement Funds (AMRFs) are part of the Approved Retirement Fund (ARF) regime introduced in 1999. The ARF regime gives a considerable degree of control, flexibility and personal choice to certain categories of individuals in relation to the drawing down of benefits from their pension plans. Access to the ARF regime was extended...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: Wood chips for domestic fuels are liable to VAT at the rate of 13.5%, as is the case with the supply of all fuel products used for home heating or light. No further tax is payable on the product. In addition, the supply and installation of wood pellet burners also apply for the most part at the 13.5% rate. In order for the reduced rate to apply the VAT-exclusive cost of the burner must not...

Written Answers — Tax Code: Tax Code (19 Jul 2011)

Michael Noonan: The tax code currently provides for various reliefs - from Capital Gains Tax, Capital Acquisitions Tax and Stamp Duty - on capital transfers within families. Capital Gains Tax (CGT): Transfers of assets between spouses do not give rise to a chargeable gain for CGT purposes. Instead the asset is treated in the hands of the receiving spouse as having the cost and acquisition date of the spouse...