Results 5,221-5,240 of 27,019 for speaker:Michael Noonan
- Written Answers — Tax Code: Tax Code (29 Mar 2012)
Michael Noonan: I have been advised by the Revenue Commissioners that Deposit Interest Retention Tax (DIRT) deducted for the years 2003 to 2006 inclusive has already been refunded to the person concerned during the years 2006, 2007 and 2008. The Revenue Commissioners will write to the person concerned shortly with full details.
- Written Answers — Government Bonds: Government Bonds (29 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 — Government Bonds: Government Bonds (29 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 — Departmental Reports: Departmental Reports (29 Mar 2012)
Michael Noonan: In regard to the Internal Report, this is being prepared by management in my Department with the professional support of the Department's Internal Audit Unit. It is my understanding that this work is near completion following its circulation to relevant parties involved, who were given sufficient time to provide their final comments on it. Deloitte Consultants have been appointed to...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)
Michael Noonan: Notwithstanding the State's significant shareholding in the bank, AIB operates at arm's length from the State in relation to commercial issues. It is a matter for the individual board and management to determine and implement operational policy in their organisation. Therefore, such commercial matters are solely a decision for the bank. However, I would note that the merger of AIB and EBS...
- Written Answers — Banking Sector Remuneration: Banking Sector Remuneration (29 Mar 2012)
Michael Noonan: I provided the answers to the questions raised by the Deputy in my replies to Parliamentary Questions (refs: 7364/12 and 9897/12) of 9 and 22 February 2012 respectively. I would not consider it appropriate to publish incomplete interim data at this stage. I am not in a position to specify when the review will be completed. However, as I have stated previously, I fully recognise that there...
- Written Answers — EU Funding: EU Funding (29 Mar 2012)
Michael Noonan: 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. In addition, further amendments to the EFSF framework have removed the interest rate margin on EFSF funds and were...
- Written Answers — Pension Provisions: Pension Provisions (29 Mar 2012)
Michael Noonan: I am advised by the Revenue Commissioners that deductions of income tax for 2012 continue to be made by relevant employers/pension providers in accordance with instructions issued to them in late December 2011 which would have taken account of up-to-date DSP pensions information supplied to the Commissioners by the DSP. In addition, the Commissioners advise that they have issued tax...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (29 Mar 2012)
Michael Noonan: The bank recapitalisation commitments made by the State to date are set out in the following table: â¬bn AIB/EBS BoI IL&P IBRC (Anglo/INBS) Total Government preference Shares (2009) - NPRF 3.5 3.5* - - 7.0 Capital contributions (with Promissory Notes as consideration) /Special Investment Shares (2010) â Exchequer ** 0.9 - - 30.7 31.6 Ordinary Share Capital (2009) â Exchequer - - -...
- Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (29 Mar 2012)
Michael Noonan: The bank guarantee schemes to which the Deputy refers that have been in place since 2008 are the Credit Institutions Financial Support Scheme 2008 (CIFS Scheme), which was in operation between 30 September, 2008, and 29 September, 2010, and the Eligible Liabilities Guarantee Scheme (ELG Scheme) which came into operation on 9 December, 2009, and has a current issuance end date of 30 June,...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 Mar 2012)
Michael Noonan: The Central Bank advise me that there has been no further developments of significance since this question was last responded to on 21st February, 2012. The Central Bank Reform Act 2010 provides for new powers to be exercised by the Bank to ensure the fitness and probity of nominees to key positions within financial service providers and of key office-holders within those providers. The new...
- Written Answers — Credit Availability: Credit Availability (29 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 â¬3 billion in 2011, â¬3.5 billion this year and â¬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 — Mortgage Arrears: Mortgage Arrears (29 Mar 2012)
Michael Noonan: I am advised by the Central Bank that the total outstanding balance of buy-to-let mortgages advanced to Irish resident private households (including securitised loans serviced by Irish resident institutions) at end December 2011 was â¬28.8bn (â¬31.5bn at end December 2010). While the Central Bank publishes a detailed data series on the arrears position of primary residential mortgages, it...
- Written Answers — European Stability Programmes: European Stability Programmes (29 Mar 2012)
Michael Noonan: As part of the European Semester, Member States are required to submit updated Stability Programmes in April of each year. My Department is currently working on the 2012 update for Ireland, which will be published at the end of April.
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (29 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 — Fiscal Policy: Fiscal Policy (29 Mar 2012)
Michael Noonan: The forthcoming Stability Programme Update will contain updated economic and budgetary forecasts for this year and for the period 2013-15. Officials from my Department are currently assessing the implications of the quarterly national accounts data, published last week by the CSO, for the 2012 budgetary projections. This, along with other information that has become available since Budget...
- Written Answers — Local Authority Charges: Local Authority Charges (29 Mar 2012)
Michael Noonan: The latest available information as at 4 p.m. yesterday Wednesday March 28th indicates that â¬42,659,900 has been paid under the household charge so far. A further â¬5.5m in postal applications were on hand to be processed. The Budget Day arithmetic allowed for â¬160 million to be collected under this charge. As has been stated several times, any persons who are liable for the charge and...
- Written Answers — Bank Debt Restructuring: Bank Debt Restructuring (29 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 — National Treasury Management Agency: National Treasury Management Agency (29 Mar 2012)
Michael Noonan: I have been informed by the National Treasury Management Agency (NTMA) that all members of the NTMA senior management team - ten people including the Chief Executives of the NTMA, NDFA and NAMA â have agreed to my request that NTMA employees whose salaries exceed â¬200,000 waive 15% of salary or such amount of salary as exceeds â¬200,000 if application of the full 15% reduction would...
- Written Answers — Banking Sector Regulation: Banking Sector Regulation (29 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...