Results 5,041-5,060 of 27,019 for speaker:Michael Noonan

Written Answers — Banking Sector Regulation: Banking Sector Regulation (14 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 46 and 47 together. As the Deputy is aware, the Government has imposed lending targets on the two domestic pillar banks for the three calendar years, 2011 to 2013. Both banks were required to sanction lending of at least €3 billion in 2011, €3.5 billion this year and €4 billion in 2013 for new or increased credit facilities to SMEs. I can confirm to the...

Written Answers — Pension Provisions: Pension Provisions (14 Mar 2012)

Michael Noonan: A number of proposals have been made that individuals should be allowed access to their pension savings prior to retirement. Various rationales have been advanced to justify these proposals including that such access would allow those individuals to pay down mortgage and other debt and would otherwise provide a boost to economic activity. This is not a simple matter. During 2011, at the...

Written Answers — Drug Enforcement: Drug Enforcement (15 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the Joint Task Force established under the Memorandum of Understanding concerning the relationship between the Customs & Excise service of the Revenue Commissioners and the Garda Síochána with respect to Drugs Law Enforcement dated 2 January 1996, and approved by the ad-hoc group in May of 1996, is charged to operate as a partnership. The Joint...

Written Answers — Tax Collection: Tax Collection (15 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that their Sligo Revenue office received notification of the death of the person in question on 4th February 2011 from the solicitors acting on behalf of the estate. Pages 1 to 5 of form CA 24 were also enclosed. The office replied to this correspondence on 28 February 2011 asking for a copy of the Will and Grant of Probate as well as the outstanding...

Written Answers — State Banking Sector: State Banking Sector (15 Mar 2012)

Michael Noonan: I have been informed by individual Institutions that they are unable to provide this information as they do not provide public disclosure on the numbers or arrears levels of specific products. Disclosures in relation to each of the covered institutions' mortgage books is provided in their published Annual statements.

Written Answers — State Banking Sector: State Banking Sector (15 Mar 2012)

Michael Noonan: AIB has informed me that the documents to which the Deputy refers were not formal investigations intended for publication, nor were they prepared employing the processes and procedures which would be employed had they been undertaken with a view to publication. They would also contain views and opinions which those expressing them would have reasonably and legitimately expected to be treated...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (15 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 8 and 9 together. There are measures in place to assist guarantors of mortgages. I have no plans to introduce additional measures. The Central Bank has in place a Consumer Protection Code. The Code contains a number of provisions that are relevant to the guarantors of loans to private consumers. For example, provision 4.26 of the Code states that where credit...

Written Answers — Departmental Staff: Departmental Staff (15 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a total of 7 staff who were based in their offices located in County Clare retired in February 2012 out of a total of 265. The Revenue Commissioners are constantly reviewing their processes and procedures, including in County Clare, to ensure that they are delivering their services in the most efficient and effective manner. This is currently...

Written Answers — Tax Code: Tax Code (15 Mar 2012)

Michael Noonan: As I stated in my recent Budget speech, I intend to keep the contentious issue of so-called "tax exiles" under constant review, and to that end a public consultation will be undertaken on possible changes to our tax residence rules to ensure such individuals make a fair contribution. Measures which will be considered will include possible changes to the day counting rules for residence,...

Written Answers — Bank Stress Tests: Bank Stress Tests (15 Mar 2012)

Michael Noonan: I refer the Deputy to my replies to recent parliamentary questions (Nos. 122 of 22 November 2011, 42 to 44, inclusive, of 6 December 2011 and 166 of 21 Feb 2012), which address the query raised in his latest question. The position as regards this matter has not changed. I am advised by the Central Bank of Ireland (CBI) that it assisted the European Banking Authority (EBA) in carrying out a...

Written Answers — Promissory Notes: Promissory Notes (15 Mar 2012)

Michael Noonan: As the Deputy will be aware, the Promissory Note arrangement is essentially an arrangement between the Government and IBRC. The Government has provided Promissory Notes to IBRC and undertaken to repay the principal and interest payments in accordance with a repayment schedule. However, the Promissory is accepted as collateral for the Exceptional/emergency Liquidity Assistance (ELA) by the...

Written Answers — Credit Facilities: Credit Facilities (15 Mar 2012)

Michael Noonan: As the Deputy is aware, the Government has imposed lending targets on the two domestic pillar banks for the three calendar years 2011 to 2013. Both banks were required to sanction lending of at least €3 billion in 2011, €3.5 billion this year and €4 billion in 2013 for new or increased credit facilities to SMEs. I can confirm to the Deputy that both banks have achieved their 2011...

Written Answers — Tax Code: Tax Code (15 Mar 2012)

Michael Noonan: The letter signed by the Finance Ministers of nine EU Member States (Austria, Belgium, Finland, France, Germany, Greece, Italy, Portugal and Spain) supported the introduction of a Financial Transactions Tax (FTT) and asked the current Danish Presidency of the EU to accelerate discussions on the current draft proposal from the EU Commission. I will not be making a formal submission in response...

Written Answers — State Banking Sector: State Banking Sector (15 Mar 2012)

Michael Noonan: The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff...

Written Answers — Financial Products: Financial Products (15 Mar 2012)

Michael Noonan: As the Deputy is aware the Government is committed to reviewing the approach to the Promissory notes with a view to reducing the overall cost to the State. The Troika have agreed to engage in a process with Irish Officials to produce a common paper which will consider all options for restructuring the notes in terms of the source of funding, the duration of the notes, the interest rate etc....

Written Answers — European Stability Mechanism: European Stability Mechanism (15 Mar 2012)

Michael Noonan: The ESM Treaty was signed by Euro Area Member States on 2 February 2012. The original version of the Treaty was signed on 11 July 2011, but it has been modified to incorporate decisions taken by the Heads of State or Government (HoSG) of the Euro Area on 21 July and 9 December 2011, aimed at improving the effectiveness of the mechanism. The Treaty will have to be ratified by the 17 Euro Area...

Private Members' Business. European Stability Mechanism: Motion (21 Mar 2012)

Michael Noonan: I thank the Sinn Féin Party for moving this motion this evening. It gives me the opportunity to put some material in the public domain. First, there is a matter I wish to bring to the attention of the House as the Government has always committed itself to informing the Dáil about any development concerning the payment of the promissory note at the end of this month. In recent months we...

Private Members' Business. European Stability Mechanism: Motion (21 Mar 2012)

Michael Noonan: By that time it was clear also that a permanent mechanism would be needed, and the discussion started on the ESM.

Private Members' Business. European Stability Mechanism: Motion (21 Mar 2012)

Michael Noonan: Those lads walking from Donegal will have to get the bus home. At the same time, there was a clear understanding that these types of support measures for countries in difficulty needed to be complemented by measures to promote more sustainable public finances. The six-pack is the new set of rules on enhanced EU economic governance which entered into force on 13 December 2011. The six-pack...

Written Answers — Tax Code: Tax Code (21 Mar 2012)

Michael Noonan: I am advised by the Revenue Commissioners that these services (taxi booking service, hire of radios and the provision of administration) are liable to VAT at the standard rate of 23%. However, the transport of passengers and their accompanying baggage is exempt from VAT under Paragraph 14(3) of Schedule 1 to the Value-Added Tax Consolidation Act 2010. Accordingly, the provision of a taxi...