Results 3,381-3,400 of 27,019 for speaker:Michael Noonan

Written Answers — EU-IMF Programme: EU-IMF Programme (18 Oct 2011)

Michael Noonan: The fourth quarterly review of the EU/IMF Programme of Financial Support for Ireland is still under way and is due to finish on 21st October 2011. The review comprises a series of meetings to evaluate all the elements of the programme covering fiscal developments including the Comprehensive Review of Expenditure and potential asset disposal, the macroeconomic outlook, progress on commitments...

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

Michael Noonan: The Central Bank has informed me that there are no formal proposals from the European authorities or otherwise in this regard. They have also 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 further Prudential Capital Assessment Review (PCAR 2012) will be carried out in 2012 to assess...

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Oct 2011)

Michael Noonan: I stated in the Seanad recently that I do not propose to change the NAMA legislation yet and that in the last three months, NAMA has been working more efficiently than was previously the case. The Deputy will also be aware that a senior international banker has been examining NAMA. I will consider his advice before deciding whether to initiate any changes to the objectives of NAMA.

Written Answers — Croke Park Agreement: Croke Park Agreement (18 Oct 2011)

Michael Noonan: Under the Public Service Agreement 2010-2014, detailed action plans have been developed across each sector of the public service to underpin the change and reform process envisaged by the Agreement. The Action Plans were first developed in October 2010 and subsequently revised in January 2011. Public service bodies in each sector were required to prepare their first detailed report on the...

Written Answers — Pension Provisions: Pension Provisions (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 89 and 94 together. These questions relate to the flexible options on retirement first introduced in Finance Act 1999. Prior to that Act, any person taking a pension under a defined contribution (DC) scheme or a Retirement Annuity Contract was required to purchase an annuity with their remaining pension pot after drawing down the appropriate tax-free lump...

Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (18 Oct 2011)

Michael Noonan: The National Pensions Reserve Fund (NPRF) was established on 2 April 2001 under the National Pensions Reserve Fund Act 2000 for the purpose of meeting as much as possible of the cost to the Exchequer of social welfare pensions and public service pensions to be paid from the year 2025 until the year 2055, or such other year as may be specified by order. Subsequent amendments to the National...

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

Michael Noonan: As the Deputy is aware the Board of the bank is responsible for the day to day operation of the bank, including the appointment of and assignment of staff within the bank. The Minister's approval is required in relation to the appointment of senior management at the bank. The person to whom the Parliamentary Question refers is not or and has never been a member of the senior management team...

Written Answers — Public Service Pensions: Public Service Pensions (18 Oct 2011)

Michael Noonan: In response to the Deputy's question, based on 2011 figures there would be a saving of €638,000 per annum to the Exchequer if pension payments to former employees of the National Treasury Management Agency, National Pensions Reserve Fund, National Development Finance Agency, National Asset Management Agency and State Claims Agency were capped at €35,000 per year.

Written Answers — State Investment Fund: State Investment Fund (18 Oct 2011)

Michael Noonan: Following a decision by the Government, I, along with my colleagues Mr Brendan Howlin, TD, Minister for Public Expenditure and Reform, and Mr Fergus O'Dowd, TD, Minister of State for NewERA, announced on Thursday, 29 September, the establishment of NewERA and the Strategic Investment Fund under the National Treasury Management Agency (NTMA). The Strategic Investment Fund, which will be the...

Written Answers — Tax Collection: Tax Collection (18 Oct 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that, based on records available, no tax rebate is due to the person concerned as no tax has been paid during the tax years 2007 to date.

Written Answers — Tax Reliefs: Tax Reliefs (18 Oct 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the taxpayer had previously claimed, and was granted, rent tax credit for all years from 2007 to 2010 inclusive. No claim has been submitted for 2011.

Written Answers — Pension Provisions: Pension Provisions (18 Oct 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 — Tax Collection: Tax Collection (18 Oct 2011)

Michael Noonan: The Internal Review has finished and its conclusions were issued on the 26th September 2011. The decision was that the person in question would qualify if the conditions to Section 472 Taxes Consolidation Act 1997 were met. These conditions are: the employee is a "specified employed contributor" as defined in Section 472 or that the Income Tax (Employments) (Consolidated) Regulations 2001...

Written Answers — Financial Products: Financial Products (18 Oct 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 products were in the long term interest of consumers...

Written Answers — Tax Yield: Tax Yield (18 Oct 2011)

Michael Noonan: The Income Levy was collected by the Revenue Commissioners as a component of Income Tax. I am informed by the Revenue Commissioners that it is estimated that €1,446 million was collected from the Income Levy in the calendar year 2010. However, as is normal, it would have been expected that the total Income Levy liability for the income tax year 2010 would be higher at €1,710 million and...

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

Michael Noonan: Revenue currently deploys 9 marked vehicles, including 2 mobile scanner units, and 164 other vehicles for operational purposes countrywide. Operations cover a range of Revenue activities including Customs and Excise work. Unmarked vehicles may be temporarily 'marked' using appropriate signage when operational requirements prove necessary.

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 103 and 104 together. In March 2011, the Exchequer provided a combined €3.06 billion to Anglo Irish Bank and INBS, representing the first instalment of the Promissory Notes committed to those institutions in 2010. In June 2011, the Exchequer provided €25 million to EBS, representing the first instalment of the Promissory Note committed to that institution...

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Oct 2011)

Michael Noonan: The National Pensions Reserve Fund (NPRF) has also received the following payments in 2011. Directed Portfolio (Public Policy Investments made at the direction of the Minister for Finance) - €214 million in respect of dividends on preferences shares in Bank of Ireland. Discretionary Portfolio (the Fund excluding Public Policy Investments made at the direction of the Minister for Finance)...

Written Answers — Credit Unions: Credit Unions (18 Oct 2011)

Michael Noonan: I propose to take Questions Nos. 106 to 111, inclusive, together. As Minister for Finance, my role is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. It would not be appropriate for me, as Minister for Finance, to examine or adjudicate on whether the placing of lending restrictions is necessary on a case by...

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

Michael Noonan: In response to the Deputy's question, savings of approximately €1.121 million could be made if State agency board members' annual payments were rescinded in respect of State agency boards which come under the remit of my Department.