Results 5,361-5,380 of 27,019 for speaker:Michael Noonan

Written Answers — State Assets: State Assets (18 Apr 2012)

Michael Noonan: As the Deputy is aware, following a series of discussions with the EU Commission/ECB/IMF (The Troika) on the matter, the Government achieved a significant breakthrough on how the proceeds of asset disposals are to be used. In return for committing to an asset disposal programme of up to €3bn, which is a more ambitious target than we had originally provided for in the Programme for...

Written Answers — European Banking Sector Regulation: European Banking Sector Regulation (18 Apr 2012)

Michael Noonan: The question of whether there is a credit crunch underway across Europe has been a subject of discussion in recent months, both at a European level and in wider public forums. This was largely the result of the sharp contraction in lending in the Eurozone during December. During this period of heightened stress, many financial institutions experienced great difficulty in raising funds in...

Written Answers — EU Treaties: EU Treaties (18 Apr 2012)

Michael Noonan: The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union was signed in Brussels on 1 March 2012 by the 25 Contracting Parties. As the Taoiseach and the Tánaiste have consistently made clear, there is no link between the new Treaty and current consideration of the IBRC promissory notes. The two issues are entirely separate, and each must be advanced on its own...

Written Answers — State Visits: State Visits (18 Apr 2012)

Michael Noonan: As the Deputy is aware the visit by the Chinese Vice President XI Jinping in February was a major opportunity to develop and expand relations with China. Discussions, which were generally at a high level, covered a wide range of proposals from the further development of a strategic partnership which would encourage greater levels of exchanges between Parliaments, Government Departments etc.,...

Written Answers — International Agreements: International Agreements (18 Apr 2012)

Michael Noonan: I am informed by the National Treasury Management Agency (NTMA) that the Memorandum of Understanding (MOU) signed between the National Treasury Management Agency (NTMA) and CIC International, a subsidiary of China Investment Corporation, China's sovereign wealth fund, provides that the parties will seek to work together in exploring investment opportunities in Ireland. The MOU builds on the...

Written Answers — Tax Yield: Tax Yield (18 Apr 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the excise receipts for the year 2011, month by month in respect of Petrol and Auto Diesel are as follows: 2011 Petrol Auto Diesel €m €m Jan 113.2 114.2 Feb 79.6 87.5 Mar 87.5 91.3 Apr 86.0 89.4 May 82.9 90.9 Jun 83.0 90.2 Jul 82.8 88.6 Aug 85.2 95.1 Sep 81.2 88.7 Oct 79.5 90.2 Nov 81.2 95.1 Dec 49.7 57.2 Total 992.0 1078.3...

Written Answers — Revenue Commissioners: Revenue Commissioners (18 Apr 2012)

Michael Noonan: I am advised by the Revenue Commissioners that a letter containing the information requested by the person was sent to him by Limerick Revenue District on 26 March 2012. An unavoidable delay arose in this case as, due to the age of the records requested, the information was not held locally and it was necessary to retrieve much of the detail from central archives.

Written Answers — Tax Code: Tax Code (18 Apr 2012)

Michael Noonan: The position is that under section 216B of the Taxes Consolidation Act 1997, income received by a qualified applicant under Sceim na bhFoghlaimeoiri Gaeilge is disregarded, i.e. exempt, for the purposes of the Income Tax Acts. That scheme is administered by the Minister for Arts, Heritage and the Gaeltacht. There are no special tax credits that apply specifically to someone living in or...

Written Answers — State Banking Sector: State Banking Sector (18 Apr 2012)

Michael Noonan: As the Deputy will be aware, notwithstanding State ownership of the institute in question, and as detailed in the Relationship Framework between the Department of Finance and IBRC published on 30 March 2012 on the Department's website, the Bank remains a separate economic unit with independent powers of decision and its Board and management team retain responsibility and authority for...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (18 Apr 2012)

Michael Noonan: The bank recapitalisation commitments made by the State to date are set out in the following table: €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) – Exchequer ** 0.9 - - 30.7 31.6 Ordinary Share Capital (2009) – Exchequer - - -...

Written Answers — Tax Code: Tax Code (18 Apr 2012)

Michael Noonan: The position is that neither the household charge of €100 per annum nor the non-principal private residence charge of €200 per annum are deductible expenses for the purposes of the dual abode tax deduction as provided for in section 836 of the Taxes Consolidation Act 1997. Therefore, as such charges are not tax deductible, there is no requirement to bring forward legislation to amend...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (18 Apr 2012)

Michael Noonan: I am informed by the respective covered institutions that the details that the Deputy seeks are set out in the recently published annual accounts for 2011 of the respective institutions. For ease of reference the relevant pages are: Institution Pages Allied Irish Banks 380 thru 384 Bank of Ireland 157 thru 168 IBRC 148 thru 153 IL&P 60 thru 65 In addition to the information...

Written Answers — Tax Reliefs: Tax Reliefs (18 Apr 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the number of persons who availed of the Stamp Duty exemption for first time buyers was 2,220 in 2011. The necessary detailed data is not currently available in such a manner as to provide a basis for compiling a breakdown of the figures by county as requested by the Deputy. The Stamp Duty exemption for first time buyers was abolished in...

Written Answers — State Banking Sector: State Banking Sector (18 Apr 2012)

Michael Noonan: The current State investments in each of the Irish banks are set out in the following table; Current State Ownership AIB/EBS BoI IL&P Anglo/INBS Total State Ownership of Ordinary Shares 99.8% 15.1% 99.2% 100% n/a Contingent Capital Notes (at cost) €1.6bn €1.0bn €0.4bn n/a 3.0 Preference Shareholdings (at cost) €3.5bn €1.8bn n/a n/a 5.3 These holdings have been raised as a...

Written Answers — State Banking Sector: State Banking Sector (18 Apr 2012)

Michael Noonan: Information regarding the remuneration of directors, including public interest directors, can be found in the published annual reports of each of the covered institutions, as follows: Bank Directors' Remuneration Report Public Interest Directors Fees 2011€ AIB From p380 of Annual Report 2011 Mr Dick Spring,Mr Declan Collier,Dr Michael Somers* 59,00071,000150,000 BOI From p160 of...

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Apr 2012)

Michael Noonan: I am advised by NAMA that rent abatements have typically been agreed for an initial fixed period of no more than twelve months and that thereafter they are subject to ongoing assessment by reference to factors such as turnover and business profitability. The objective of agreeing rent abatement in the first instance is to support the short-term viability of a business which is intrinsically...

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Apr 2012)

Michael Noonan: The Government is fully aware of significant difficulties some homeowners are facing in meeting their mortgage obligations and it is committed to advancing appropriate measures to assist those mortgage holders who are experiencing real and genuine difficulty. These include measures recommended in the "Keane Report" such as significant personal insolvency reform, the implementation of...

Written Answers — State Banking Sector: State Banking Sector (18 Apr 2012)

Michael Noonan: I propose to take Questions Nos. 140, 199, 202 and 204 together. The Deputies 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...

Written Answers — Consultancy Contracts: Consultancy Contracts (18 Apr 2012)

Michael Noonan: The IBRC have informed me that all details relating to engagements between IBRC and individual third party advisors are confidential and subject to non-disclosure agreements. As a result, the Bank cannot disclose any information in this regard.

Written Answers — National Asset Management Agency: National Asset Management Agency (18 Apr 2012)

Michael Noonan: I am advised by NAMA that it has established three panels of legal firms to advise it on various aspects its business, including legal due diligence associated with the loan acquisition process, enforcement and corporate legal services. In view of the relatively small size of the Irish legal sector, it is possible that some of these firms also provide services to individuals or companies...