Results 3,361-3,380 of 27,019 for speaker:Michael Noonan

Written Answers — EU-IMF Support Programme: EU-IMF Support Programme (13 Oct 2011)

Michael Noonan: As the Deputy will be aware, the Euro Area Heads of State or Government (HOSG) agreed on 21 July 2011 to reduce the cost of the European Financial Stability Facility (EFSF) to lending rates equivalent to those of the Balance of Payments facility close to, without going below, the EFSF funding cost. The EFSF Amendments are currently the subject of ratification by all Euro Area Member...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (13 Oct 2011)

Michael Noonan: The latest publicly available figures on the amount of Eurozone Government bonds held by AIB, Bank of Ireland and Irish Life & Permanent were published as part of the EU wide bank stress tests on 15 July 2011. A link to the main release on the Central Bank of Ireland's website is below. http://www.centralbank.ie/press-area/press-releases/Pages/20...

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

Michael Noonan: During 2009 it was determined that Anglo and INBS required additional capital. A commitment was provided by the Minister to Anglo and separately to INBS to provide capital of €8.3 billion and €2.7 billion, respectively. This capital was provided on 31 March 2010. In relation to Anglo, this €8.3 billion of capital was injected by way of a capital contribution. This capital contribution...

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

Michael Noonan: Earlier this year, the Economic Management Council, of which I am a member, requested an Inter-Departmental Group to consider further necessary actions to alleviate the increasing problem of mortgage over-indebtedness. The Group's report was published yesterday and is available on my Department's website. The Government are proposing that the Dail be given an opportunity to debate the...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (13 Oct 2011)

Michael Noonan: The Central Bank has informed me that borrowing from the Eurosystem relating to monetary policy operations by the covered institutions stood at €68.430bn as of 31 August 2011. The figure for Exceptional Liquidity Assistance (ELA) is contained within the other assets of the Financial Statement of the Central Bank of Ireland. As at the 26th of August the figure for other assets was...

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

Michael Noonan: As the Deputy is aware, the Government is considering burden sharing with senior bondholders in both Anglo and INBS in consultation with our EU partners. In the current circumstances, the State is not in a position or minded to act unilaterally in this regard. I had the opportunity to meet with President Trichet on the margins of the Ecofin meeting in Poland on Saturday, 17th September. I...

Written Answers — EU Funding: EU Funding (13 Oct 2011)

Michael Noonan: Irish credit institutions access ECB liquidity under the same rules and subject to the same conditions as credit institutions around Europe, and it has not been suggested to me that this situation would change. Clearly the ECB has given very large amounts of liquidity assistance to Irish banks and it maintains a keen interest in the Irish banking sector. In this regard, I would point to the...

Written Answers — Official Engagements: Official Engagements (13 Oct 2011)

Michael Noonan: The Minister meets with and has telephone conversations with the Chief Executives, Chairpersons and Directors of covered institutions on a regular basis. These contacts are generally routine in nature but on occasion may address specific issues relating to the particular institution or to the financial system as a whole. The following entries appear in Minister Noonan's diary commencing from...

Written Answers — Tax Code: Tax Code (13 Oct 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 limits the standard rate of VAT to 23%, but does not specify the timeframe for this increase. The level and timeframe of any increases in the standard VAT rate...

Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) (Amendment) Order 2011: Motion (18 Oct 2011)

Michael Noonan: I move: That Dáil Éireann approves the following Order in draft: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) (Amendment) Order 2011, copies of which have been laid in draft form before Dáil Éireann on 12 October, 2011. Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) (Amendment) Order 2011, copies of which have been laid in draft form...

Report by the Interdepartmental Working Group on Mortgage Arrears: Statements (18 Oct 2011)

Michael Noonan: The Government last week published the report of the interdepartmental group on mortgage arrears. The group was requested by the economic management council to examine the further necessary actions that could be taken to address the increasing problem of mortgage over-indebtedness. The Government is aware of the increasing stress that some households are facing arising from difficulties in...

Written Answers — Departmental Appointments: Departmental Appointments (18 Oct 2011)

Michael Noonan: Having taken all relevant factors into account, the Government has nominated Mr. Kevin Cardiff, Secretary General at the Department of Finance, for appointment to the European Court of Auditors. Mr. Cardiff will attend a hearing of the European Parliament's Budgetary Control Committee before his nomination goes to the Council for approval. As the Taoiseach said in the Dáil last week, "Mr....

Written Answers — Appointments to State Boards: Appointments to State Boards (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 77 and 102 together. In the Revised Estimates for Public Services 2011 published in July, the Fiscal Advisory Council was provided with an allocation of €300,000 for 2011. As the Council was established at the end of June, this covers the six month period of July to December 2011 and covers a number of costs associated with establishing the Council. The...

Written Answers — Betting Regulations: Betting Regulations (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 78 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 over the...

Written Answers — Betting Regulations: Betting Regulations (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 79 and 112 together. I will not be amending the betting legislation to allow for the introduction of gaming or any other type of gambling other than that of bookmaking into betting shops. The Deputy may be aware that the Minister for Justice and Equality is currently preparing a comprehensive Bill on gambling; however, the Minister has stated that new...

Written Answers — Betting Regulations: Betting Regulations (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 80 and 114 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 drafting of the Bill, which is fairly complex, is well...

Written Answers — Customs and Excise: Customs and Excise (18 Oct 2011)

Michael Noonan: The Revenue participation in operations in Smithfield are part of our ongoing efforts to counteract the shadow economy with a focus on tax, customs and excise duty evasion. Many of the personnel participating on the operations did so as part of their normal duties. Some staff who took part in the operations were eligible for overtime and travel and subsistence payments. In 2011 these payments...

Written Answers — Financial Transactions Tax: Financial Transactions Tax (18 Oct 2011)

Michael Noonan: The European Commission recently published its proposal for a Financial Transactions Tax, or FTT. My Department is analysing the detailed proposals contained in the draft Directive. The draft Directive will now be subject to detailed discussions at EU level and, as always, we will participate constructively in those discussions. There is no consensus as yet among European Member States on...

Written Answers — Civil Service Staff: Civil Service Staff (18 Oct 2011)

Michael Noonan: On resignation from the Civil Service, the person will take up a post with the European Court of Auditors. Given that he is being assigned to a position abroad, he will not be entitled to the enhanced superannuation provisions under the TLAC retirement terms for Secretaries General provided for in the Government decision of 5 March 1987. He will in due course be eligible for the standard...

Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (18 Oct 2011)

Michael Noonan: The assessment of the report into bonus payments at Anglo Irish Bank has taken longer than expected. However, the assessment has now been finalised and I will be in a position to make the information available to the Deputy within the next week. I regret the delay in this instance. I can assure the Deputy, however, that details of the report have not been leaked by anyone in my...