Results 3,961-3,980 of 27,019 for speaker:Michael Noonan

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: In October there was a different vote.

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: Now the Deputy is basing all his argument on the October vote. Sinn Féin voted for the guarantee. The Deputy is the Bart Simpson of this operation.

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: They are always in denial. It is a case of, "No one saw me, it wasn't me, it was the other fellow". The record of the House shows that Sinn Féin voted. In my view, the Deputy is correct on the facts, because the House was misled on the night. When we asked whether it was a liquidity crisis or an insolvency crisis we were solemnly assured by the Minister that it was only a liquidity...

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: -----and it was all the fault of poor Joan; it was all Joan's fault because Sinn Féin voted for it on the night. That is not credible at all, for God's sake, Deputy. What kind of rubbish is that? I will not refer to Deputy Kelleher because we know Deputy Kelleher's speeches and they are all very entertaining. I thank Deputy Mick Wallace for a very reflective contribution. There is much...

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: I believe the Minister was misled himself and I agree with Deputy Ross on this point. I do not think the Minister had the full facts on the night but that is the way the Parliament made its decision. We are in a situation now where, effectively, the banking policy of the previous Government has proved to be disastrous. They left Government without reconstructing and recapitalising the...

Credit Institutions (Eligible Liabilities Guarantee) (Amendment) Scheme 2011: Motion (1 Dec 2011)

Michael Noonan: The Donegal man keeps shouting at me. It is like Donegal football, it is blanket defence.

Written Answers — Tax Yield: Tax Yield (1 Dec 2011)

Michael Noonan: The Universal Social Charge (USC) was introduced on 1 January 2011 and replaced the Income and Health Levies. The USC is not charged on State Pensions paid by the Department of Social Protection.

Written Answers — Tax Code: Tax Code (1 Dec 2011)

Michael Noonan: The Universal Social Charge is designed to apply on a wide base with no special exemptions. However, an exemption threshold at €4,004 per annum is included for administrative reasons. It is a long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Mortgage Arrears: Mortgage Arrears (1 Dec 2011)

Michael Noonan: There is no scheme in place to assist mortgage holders who are in negative equity but who can meet their repayments and do not wish to move house. Trade down mortgages were recommended in the recently published report of the Inter-Departmental Mortgage Arrears Working Group in appropriate circumstances. In order to ensure that proposals in relation to such mortgages are consistent with the...

Written Answers — Tax Reliefs: Tax Reliefs (1 Dec 2011)

Michael Noonan: It is long-standing practice of the Minister for Finance not to comment in advance of the Budget on any tax matters that might be the subject of Budget decisions.

Written Answers — Tax Code: Tax Code (1 Dec 2011)

Michael Noonan: Individuals in receipt of payments from the Department of Social Protection such as Widow/er's Contributory Pension, Widow/er's Non-Contributory Pension, Deserted Wife's Benefit, Deserted Wife's Allowance or the One Parent Family Payment were exempt from the Health Levy on non-Department of Social Protection income but are not exempt from the Universal Social Charge (USC) on this income. All...

Written Answers — Tax Yield: Tax Yield (1 Dec 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the application of a 5% levy to the total gross income of income earners earning in excess of €120,000 per annum would be of the order of €520 million. It should be notes that gross income is as defined in Revenue Statistical Report, 2009. These...

Written Answers — Tax Yield: Tax Yield (1 Dec 2011)

Michael Noonan: It is assumed that the threshold for the proposed new tax band mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the introduction of a new 55% rate...

Written Answers — Tax Yield: Tax Yield (1 Dec 2011)

Michael Noonan: I am advised by the Revenue Commissioners that the information requested, estimated by reference to the income tax year 2011, is set out in the following table: All income earners for Income Tax Year 2011 (provisional)Gross Income Range Gross Income Numbers Income Tax Liability € € € 0-50,000 36,479,003,462 1,663,341 2,255,222,703 50,001-100,000 25,835,893,121 380,204...

Written Answers — Income Statistics: Income Statistics (1 Dec 2011)

Michael Noonan: I am informed by the Revenue Commissioners that based on the incomes of income earners on the income tax record for the tax year 2009 the median gross income is €27,479. It should be noted that gross income is as defined in Revenue Statistical Report, 2009. The information on incomes is based on income returns on Revenue records at the time the data were compiled for analytical purposes,...

Written Answers — Housing Policy: Housing Policy (1 Dec 2011)

Michael Noonan: I am aware of the proposal to introduce a residential value protection scheme. The scheme as proposed would allow purchasers of new and second hand houses and apartments under €350,000 to insure against the risk of their property falling in value by up to 15 per cent over three years from the date of purchase. The risk would be shared in different proportions by government, financial...

Written Answers — Tax Code: Tax Code (1 Dec 2011)

Michael Noonan: I am informed by the Revenue Commissioners that a number of studies have been undertaken in the last few years to determine the level of cross-Border shopping and how much this affects Exchequer revenue. The Report on the Implications of Cross Border Shopping, which was undertaken on behalf of the Minister for Finance by the Revenue Commissioners and the Central Statistics Office, was...

Statements on Expenditure (5 Dec 2011)

Michael Noonan: That relates to the European Presidency.

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: Some minor amendments were made to the published draft of the speech so I will circulate a new copy to Members of the House, in the interests of being exact. On this day 90 years ago, 6 December 1921, the Treaty was signed. The Treaty restored Ireland's sovereignty which for so long had been lost. In the last days of the Treaty negotiations, the British conceded fiscal autonomy to Ireland....

Budget Statement 2012 (6 Dec 2011)

Michael Noonan: The Government has successfully protected this rate even under international pressure, given our fiscal state. The Government successfully negotiated a reduction of €10 billion in the interest rate margin that was far bigger than originally offered and the Taoiseach made no concession on the corporate tax rate in the course of those negotiations. Today, I want to say to our friends in the...