Results 2,761-2,780 of 27,019 for speaker:Michael Noonan

Written Answers — Financial Services Regulation: Financial Services Regulation (21 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 151 and 153 together. More than 32,000 people are directly employed in international financial services, in over 500 firms. Substantial indirect employment is also generated, and the sector contributes €2.1bn in corporate and payroll taxes to the Exchequer. Accounting for 10% of multi-national employment, international financial services represents an...

Written Answers — Credit Availability: Credit Availability (21 Jul 2011)

Michael Noonan: The Deputy will appreciate that I cannot do much to prevent the banking industry, which operates on a commercial basis and must compete for funding, from increasing the interest rates. However, as I have already stated in this House, the banks are engaging in cost cutting plans which are already underway. These cost reductions which will improve operating margins and permit the banks to...

Written Answers — Departmental Agencies: Departmental Agencies (21 Jul 2011)

Michael Noonan: I am not aware of any instance in which the annual fee payable to a State agency board member exceeds €50,000.

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: The EU/IMF Programme provides for a 1% increase in the standard VAT rate to 22% with effect from January 2013, and a further 1% increase in the standard VAT rate to 23% with effect from January 2014. The Programme for Government continues this VAT policy by limiting the top rate of VAT to 23%, but does not specify the timeframe for this increase. The level and timeframe of any increases in...

Written Answers — Liquor Licences: Liquor Licences (14 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 47 and 48 together. The Revenue Commissioners are responsible for the issue or renewal of public house licences. A licence may only be issued when the appropriate certificate has been issued by a District Court. The licensing year runs from the 1st October to the 30th September. The most recent period for which statistics are available is 2009/2010 when 914...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. Under the VAT Directive Member States may only apply the reduced VAT rate to those goods and services which are listed under Annex III of the VAT Directive. I understand that the major sectors within the Irish craft industry are pottery, glass, jewellery, textiles and...

Written Answers — Tax Collection: Tax Collection (14 Sep 2011)

Michael Noonan: The tax affairs of a particular company are a matter for the Revenue Commissioners and the company concerned. I am informed by the Revenue Commissioners that their obligation to observe confidentiality in relation to the tax affairs of individual taxpayers or companies precludes them from providing the information requested by the Deputy.

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

Michael Noonan: A total of €10,710 has been spent on taxi fares by my Department since the start of 2011. Taxis should only be used for official business purposes only. While it is not Departmental policy to pay taxi fares for outsiders, occasionally a journey, which begins from this Department, will include outsiders along with a Departmental official. This would be done as a means of reducing overall...

Written Answers — Credit Unions: Credit Unions (14 Sep 2011)

Michael Noonan: The Programme for Government sets out the Government's position with regard to the credit union sector. The Government recognises the importance of credit unions as a volunteer cooperative movement and the distinction between them and other financial institutions. The Government has established the Commission on Credit Unions to review the future of the movement and make recommendations in...

Written Answers — Legislative Programme: Legislative Programme (14 Sep 2011)

Michael Noonan: Section 13 of Finance Act 2011 provided for income tax relief at the standard rate for expenditure incurred by individuals on a range of works carried out to improve the energy efficiency of residential premises situated in the State. The underpinning legislation for the scheme was subject to Commencement Order. However, that legislation, on review, was found to have flaws and would have...

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

Michael Noonan: I am informed by NAMA that the person concerned is Mr. John Mulcahy, Head of Portfolio Management, NAMA.

Written Answers — Insurance Industry: Insurance Industry (14 Sep 2011)

Michael Noonan: Consumer issues relating to insurance matters are covered by the Central Bank's Consumer Protection Code. The Central Bank has informed me that there are life assurance products for which the benefits and premiums can vary over the life of the product. These are called 'Unit Linked Whole of Life Policies'. Each life protection policy is intended to pay out a sum of money to the beneficiary...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: As the Deputy is aware, there is a commitment in the Programme for Government to help homeowners in distress. The Government is examining a number of proposals in relation to this commitment. One of these proposals relates to increasing mortgage interest relief to 30% for First Time Buyers who bought between 2004 and 2008 and to finance this in part by abolishing mortgage interest relief...

Written Answers — Mortgage Products: Mortgage Products (14 Sep 2011)

Michael Noonan: The Central Bank has advised me that they wrote to all mortgage lenders to ascertain whether they were offering, or intended to offer, a mortgage product that would allow home owners to sell their existing home and transfer the negative equity portion of the original loan to the new loan. The Central Bank was concerned as to whether such a product was in the long term interest of consumers...

Written Answers — Proposed Legislation: Proposed Legislation (14 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 58, 63 and 113 together. The proposed Betting (Amendment) Bill, which is being drafted at present, will amend the 1931 Betting Act to inter alia establish the regulatory framework for the licensing of remote bookmakers and betting exchanges, including measures to enforce the regulatory framework. The extension of the opening hours of retail betting shops...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: The Deputy will appreciate that the Revenue Commissioners cannot comment on any particular individual's tax affairs. However, I understand that the details supplied in connection with the Deputy's question, which appears to be based on a newspaper report of 25 February 2011, may not have taken account of a subsequent report concerning the same matter that was published on the following day...

Written Answers — State Banking Sector: State Banking Sector (14 Sep 2011)

Michael Noonan: Anglo Irish Bank has filed proofs of claim in the US on 14 February 2011, which are a matter of public record, showing a debt owed to the bank by the person, to which the Parliamentary Question refers, of €8,454,779.27. As the Deputy is aware the individual filed for US bankruptcy on 14 October 2010 and since that time the bank has been engaged and participating in the US bankruptcy...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 61 and 80 together. The Universal Social Charge (USC) is a tax which replaces the income and health levies. It is intended to broaden the tax base in an equitable manner and applies to approximately 500,000 more income earners than the income and health levies. USC receipts are collected as part of income tax. The Budget 2011 projections for receipts are...

Written Answers — Tax Code: Tax Code (14 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 62 and 108 together. As I outlined in my reply of 30 June 2011, a review of the Universal Social Charge is a commitment in the Programme for Government. This review has commenced. The Terms of Reference of the review are broad and wide-ranging and include, but are not limited to, the following areas: · Low paid income earners; · Persons over 65; · Medical...

Written Answers — Pension Provisions: Pension Provisions (14 Sep 2011)

Michael Noonan: I propose to take Questions Nos. 64 and 65 together. Pensions policy falls within the remit of my colleague, the Minister for Social Protection. I have no role in relation to the regulation of pensions in Ireland, a role which is fulfilled by the Irish Pensions Board. Any proposals for a compensation fund for pensions would be a matter for that Minister and the Pensions Board. However, in...