Results 3,341-3,360 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Recruitment: Banking Sector Recruitment (12 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 42 to 44, inclusive, together. The Minister for Finance has no role in recruitment of staff and hiring of consultants of the Central Bank of Ireland. However, I have been informed by the Central Bank of the following: Number of appointments on an annual basis since 2008. Year No. of appointments 2008 126 2009 85 2010 265 2011 173.4 Number of consultants...

Written Answers — Consultancy Contracts: Consultancy Contracts (12 Oct 2011)

Michael Noonan: I am informed by the Central Bank that in the context of the Financial Measures project, consultancy advice was provided in relation to all the relevant aspects of the stress testing exercise undertaken for AIB, EBS, Bank of Ireland and Irish Life and Permanent including mortgages. This work was undertaken by a team of consultants from three companies namely - Blackrock, BarCap and BCG.

Written Answers — Appointments to State Boards: Appointments to State Boards (12 Oct 2011)

Michael Noonan: The Information requested by the Deputy in relation to appointments to bodies under the aegis of my Department is contained in the following tables. 2009 Name of Body Name of appointee Date appointed /reappointed National Development Finance Agency (NDFA) Mr John Corrigan (Chairman) Chief Executive, (NTMA) ex-officioMr Brian Murphy( Chief Ececutive) Director, (NTMA) ex-officio 4 Dec...

Written Answers — Tax Code: Tax Code (12 Oct 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the EU VAT Directive, with which the VAT law in EU Member States must comply, provides for a margin scheme for auctioneers of works of art. Under the margin scheme, VAT is charged on the commission or margin received by the auctioneer and not the full value of the item being supplied as would be the case under normal VAT rules. However, it is...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (12 Oct 2011)

Michael Noonan: The legal basis for the Deposit Guarantee Scheme in Ireland is set out in the European Communities (Deposit Guarantee Scheme) Regulations 1995 (S.I. No. 168 of 1995) as amended. These Regulations implement the European Union Directive on Deposit Guarantee Schemes (Directive 94/19/EC) as amended. As a statutory scheme implemented under EU law, the Deposit Guarantee Scheme is in place on an...

Written Answers — Legislative Programme: Legislative Programme (12 Oct 2011)

Michael Noonan: The material supplied by the Deputy refers to recent amendments to the Credit Union Act 1997 which were brought forward at Committee Stage of the Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011. The primary purpose of these amendments is to enhance the Central Bank's existing powers to issue regulatory directions. On foot of concerns raised by credit union...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (12 Oct 2011)

Michael Noonan: On 25 July 2011, I announced the successful conclusion of negotiations by the Government with private investors who, subject to appropriate regulatory clearances being obtained, committed to buy up to €1.123 billion of the NPRF's holding of Bank of Ireland ordinary stock. The investors committed to both initially purchase approximately €0.2 billion of stock and subsequently purchase the...

Written Answers — Tax Code: Tax Code (12 Oct 2011)

Michael Noonan: I assume that the Deputy is referring to the current annual earnings cap of €115,000 which operates to limit the level of tax-relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension...

Leaders' Questions (13 Oct 2011)

Michael Noonan: Tell us how you are going to do it.

Leaders' Questions (13 Oct 2011)

Michael Noonan: It is the all-island economy.

Written Answers — Disabled Drivers: Disabled Drivers (13 Oct 2011)

Michael Noonan: The initial application for a Primary Medical Certificate under the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994, is made to the Senior Medical Officer of the relevant local Health Service Executive administrative area. If the Primary Medical Certificate has been refused in this case, the named person may appeal the refusal to the Disabled Drivers Medical Board...

Written Answers — Motor Fuels: Motor Fuels (13 Oct 2011)

Michael Noonan: Marked gas oil, commonly known as green diesel, is subject to Mineral Oil Tax at the rate of €88.66 per 1,000 litres, while the rate for auto-diesel is €465.70 per 1,000 litres. In addition, marked gas oil is subject to a lower VAT rate of 13.5 per cent. The resulting total tax differential is around 50 cent a litre. Marked kerosene is subject to a rate of Mineral Oil Tax, €38.02 per...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (13 Oct 2011)

Michael Noonan: The Government decided to establish NewERA on a non-statutory basis as a Shareholder Executive within the NTMA. The NTMA has the necessary specialist skills to manage NewERA and its business model provides it with the flexibility to compete in the market to recruit additional specialist staff as required. The policy objective behind NewERA is to modernise the manner in which Government...

Written Answers — Motor Fuels: Motor Fuels (13 Oct 2011)

Michael Noonan: This question relates to potential Budgetary measures. It is the usual practice for the Minister for Finance not to speculate or comment in advance of the Budget what it will contain and I do not propose to deviate from that practice. The Deputy may wish to note that in relation to potential Budgetary measures such as this that cross-border issues are taken into consideration.

Written Answers — Bank Assets: Bank Assets (13 Oct 2011)

Michael Noonan: Part 5 of the Credit Institution (Stabilisation) Act 2010 ("CIS Act") provides the Minister with the power to transfer assets and/or liabilities of a "relevant institution" - i.e. an institution within the scope of the CIS Act - to another institution, subject to the approval of the Court. Part 5 of the Central Bank and Credit Institutions (Resolution) (No. 2) Bill ("the Bill") provides the...

Written Answers — Credit Unions: Credit Unions (13 Oct 2011)

Michael Noonan: The Interim Report of the Commission on Credit Unions was provided to me on 30 September 2011. I presented the Report to Government on 11 October 2011 and it will be published tomorrow, Friday 14 October 2011.

Written Answers — Tax Collection: Tax Collection (13 Oct 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the number of audits carried out in relation to Medical Practice activities in each of the Years 2007 to 2011 (to August), and the related yield across all tax heads, business and personal, is as follows: 2007 - 99 - €2.69m [62 yielding/63%] 2008 - 89 - €2.54m [65 yielding/75%] 2009 - 87 - €3.59m [66 yielding/75%]* 2010 - 156 -...

Written Answers — Appointments to State Boards: Appointments to State Boards (13 Oct 2011)

Michael Noonan: In response to the Deputy's question I have made no appointments to state boards since I was appointed as Minister for Finance.

Written Answers — Mortgage Arrears: Mortgage Arrears (13 Oct 2011)

Michael Noonan: There are a number of measures in place to assist people who are having genuine difficulties in meeting their mortgage repayments. The Central Bank's revised Code of Conduct on Mortgage Arrears (the Code) applies to mortgage lending activities with borrowers in respect of their principal private residence in the State. Compliance with the Code is mandatory on all mortgage lenders registered...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (13 Oct 2011)

Michael Noonan: The Central Bank have informed me that as no formal measures or proposals have been announced by the authorities or the EBA they are not in a position to advise on possible future capital requirements arising. The Central Bank has advised me that as agreed in the Memorandum of Understanding (MoU) and the Memorandum of Economic and Financial Policies (MEFP) with our external partners, a...