Results 4,861-4,880 of 27,019 for speaker:Michael Noonan

Written Answers — Departmental Expenditure: Departmental Expenditure (23 Feb 2012)

Michael Noonan: Twenty people left the Department of Finance during 2011. The cost of lumps sums in respect of those retirees was €2.2m and of severance payments was €127k. The annual pension cost for these people is of the order of €0.725m. The pension related deduction which was paid by these staff while in employment was approximately €99k per annum and their pension contribution was...

Written Answers — EU-IMF Programme: EU-IMF Programme (23 Feb 2012)

Michael Noonan: I would not agree with the conclusion outlined above. Ireland's Programme of external support, which is a three year programme designed to return us to market based financing, is on track. We are meeting our targets under the Programme and continuing to do so is the best means of ensuring that we emerge successfully from this programme. A substantial number of actions - over 90 - have...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (23 Feb 2012)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing arising from difficulty in meeting their mortgage commitments. The Government, therefore, has established a Steering Group to oversee and drive the implementation of the recommendations contained in the report of the Inter-Departmental Working Group on Mortgage Arrears across Government. The...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (23 Feb 2012)

Michael Noonan: I am informed by NAMA that full due diligence and final loan valuations have been completed on the first five tranches of loans to be transferred (with nominal loan balances of €59 billion) and that the due diligence and valuation process is close to completion on the residual tranches. On the first five tranches, NAMA paid consideration of €26.363 billion for loans that are secured by...

Written Answers — Consultancy Contracts: Consultancy Contracts (23 Feb 2012)

Michael Noonan: I am informed that NAMA, as a contracting authority, is subject to EU Directive 2004/18/EC as implemented in Ireland by the European Communities (Award of Public Authorities' Contracts) Regulations 2006 (the "Regulations"), in respect of the procurement of goods, works and services above certain values (the "EU Thresholds"). The principles underpinning the Regulations are equal treatment,...

Written Answers — Consultancy Contracts: Consultancy Contracts (23 Feb 2012)

Michael Noonan: NAMA informs me that it cannot provide all the details requested by the Deputy in the time available. NAMA has undertaken to provide me with this information within the next week and, accordingly, I will issue a reply to the Deputy at that stage.

Written Answers — Tax Code: Tax Code (23 Feb 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that reviews of the person's income tax and universal social charge for 2010 and 2011 will be carried out shortly. All income tax and universal social charge overpaid will be refunded to him.

Written Answers — Fiscal Policy: Fiscal Policy (23 Feb 2012)

Michael Noonan: Annual public spending, that is voted and non-voted spending, is set out in summary and aggregate form in the Finance Accounts. Likewise the Accounts show the revenues of the State, which are made up of taxes and non-tax income. Under Section 4 of the Comptroller and Auditor General (Amendment) Act, 1993, the Finance Accounts are compiled annually by my Department, audited by the Comptroller...

Written Answers — Consumer Protection Code: Consumer Protection Code (23 Feb 2012)

Michael Noonan: The decision on whether or not to grant individual mortgages must remain a commercial decision for individual lending institutions. It is important that each lending institution is allowed to assess properly and independently the individual risks that it is considering accepting. Mortgage lending must be undertaken on a sustainable and prudential basis by financial institutions and conform...

Written Answers — Mineral Oil Tax Regulations: Mineral Oil Tax Regulations (28 Feb 2012)

Michael Noonan: The taxation and designation of marked gas oil for specific uses is in line with the EU Energy Taxation Directive and Ireland's environmental obligations. In addition, I am informed by the Revenue Commissioners, who are responsible for the collection of mineral oil tax and for tackling the illicit trade in mineral oil products, that they are acutely aware of the various illegal activities...

Written Answers — Mortgage Arrears: Mortgage Arrears (28 Feb 2012)

Michael Noonan: A Steering Group, chaired by a Second Secretary General in my Department and comprising senior representation from Government Departments and the Central Bank, has been established to oversee and drive the implementation of the various recommendations contained in the report of the Inter-Departmental Working Group on Mortgage Arrears across Government. As part of this, separate working...

Written Answers — Ministerial Transport: Ministerial Transport (28 Feb 2012)

Michael Noonan: In the period in question the cost to my Department in relation to the use of my car for Ministerial travel was €76,168.14. This cost included mileage (which is to cover car related expenses), the salaries paid to civilian drivers and the travel and subsistence paid to the drivers. Under the guidelines, Overtime is not paid to Ministerial drivers. This amount is significantly below the...

Written Answers — Departmental Meetings: Departmental Meetings (28 Feb 2012)

Michael Noonan: I met with representatives of this company on one occasion in 2011.

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: I propose to take Questions Nos. 146 and 147 together. As I announced in the Budget, a single Stamp Duty rate of 2 per cent will apply to non-residential property transactions executed on or after Budget night 6 December 2011. I also announced a Capital Gains Tax (CGT) incentive for property purchased between 7 December 2011 and end 2013. Where such property is held for seven years, the...

Written Answers — Tax Collection: Tax Collection (28 Feb 2012)

Michael Noonan: Unfortunately, it was not possible to provide the information required for this answer in the time allowed. The Revenue Commissioners will provide the answer directly to the Deputy as soon as possible.

Written Answers — Pension Provisions: Pension Provisions (28 Feb 2012)

Michael Noonan: As part of the move to the greater use of shared services in the public sector in order to drive efficiencies, the Paymaster General's Office, which is part of my Department, took over the payment, on an agency basis, of pensions of the retired staff of the Vocational Education Committees. Payment of these pensions was previously made through the Local Authorities. The Paymaster General's...

Written Answers — Tax Code: Tax Code (28 Feb 2012)

Michael Noonan: The position is as I stated in my Budget day speech, that the Government has now fulfilled its commitment contained in the Programme for Government to increase the rate of mortgage interest relief to 30 per cent for first-time buyers who took out their first mortgage in the period 2004 to 2008. I have sought to be as flexible as possible within the constraints pertaining. Under the current...

Written Answers — Tax Yield: Tax Yield (28 Feb 2012)

Michael Noonan: The following are the current arrangements which apply in relation to the taxation of retirement lump sums paid under Revenue approved pension arrangements. These arrangements apply in both the public and private sectors and were introduced in Budget and Finance Act 2011: · Retirement lump sum amounts up to €200,000 are paid free of tax. They are also paid free of the Universal Social...

Written Answers — Ministerial Transport: Ministerial Transport (28 Feb 2012)

Michael Noonan: The Deputy may be aware that since 1 May 2011 all Cabinet Minister with the exception of Taoiseach, Tánaiste and Minister for Justice & Law Reform now use their own cars on official business. The following table lists the kilometre claims made by me in the period May to December 2011. The basis on which Ministers record their mileage does not require them to list individual trips. Mileage...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (28 Feb 2012)

Michael Noonan: As the Deputy is aware IBRC has been provided with a total capital contribution of €34.6 billion. The Deputy will appreciate that much of the information requested in his question is subject to external factors and that it is not practical to be definitive in terms timelines or costs at this point. Suffice to say that the Board of the bank is charged with the work-out of the bank's assets...