Results 5,621-5,640 of 27,019 for speaker:Michael Noonan
- Written Answers — State Banking Sector: State Banking Sector (3 May 2012)
Michael Noonan: As the Deputy will be aware, under the Relationship Frameworks, the banks are run on a commercial basis and I have no role in the day-to-day management or commercial decisions of the banks including matters relating to residential mortgage books. Nonetheless, the Government understands the severe difficulties that the residents of Priory Hall are facing. My Department has been in contact...
- Written Answers — Tax Collection: Tax Collection (3 May 2012)
Michael Noonan: I have been advised by the Revenue Commissioners that they do not have sufficient details to process the claim and have contacted the person concerned in relation to the matter.
- Written Answers — Tax Reliefs: Tax Reliefs (3 May 2012)
Michael Noonan: Section 13 of Finance Act 2011 provided for income tax relief at the standard rate for expenditure incurred by individuals on a range of works carried out to improve the energy efficiency of residential premises situated in the State. The underpinning legislation for the scheme was subject to Commencement Order. However, that legislation, on review, was found to have flaws and would have...
- Written Answers — National Asset Management Agency: National Asset Management Agency (3 May 2012)
Michael Noonan: I am advised by NAMA that details relating to Weston Aerodrome, which is subject to enforcement action, are provided on its website, www.nama.ie. KPMG is the appointed receiver and the property is currently available for sale through the sales agent, Savills.
- Written Answers — National Asset Management Agency: National Asset Management Agency (3 May 2012)
Michael Noonan: Taking account of its overriding commercial mandate as set out in Section 10 of the National Asset Management Agency Act 2009, NAMA has demonstrated its commitment and contribution to the achievement of wider social and economic policy objectives in line with Section 2 of the Act. This includes NAMA's policy to give first option to public bodies on the purchase of property which may be...
- Written Answers — Liquor Licences: Liquor Licences (3 May 2012)
Michael Noonan: I am informed by the Revenue Commissioners that they are responsible for the administration of the issue or renewal of Public House Licences. Revenue may only facilitate the issue of a Publican's licence where the appropriate certificate has been issued by a District or Circuit Court, and therefore do not have the authority to revoke a licence once issued. As the authority to revoke a...
- Written Answers — Tax Collection: Tax Collection (3 May 2012)
Michael Noonan: I am advised by the Revenue Commissioners that approximately 20,000 taxpayers were originally notified by letter in January 2012 that they might have a potential refund of tax due for 2011, and that Revenue would automatically carry out a review. This process could not begin until the pay and tax deducted details in respect of 2011 were submitted by employers on the annual P35 form and...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (3 May 2012)
Michael Noonan: In July 2011 a net amount of â¬16.5 billion was injected into Irish financial institutions. At the time of the end-September Maastricht return, it was indicated publicly that a full examination of the deficit-impacting amount of this transfer would be made before the next notification. The outcome of this exercise is that of the â¬16.5 billion injected in June 2011, â¬5.8 billion is...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (3 May 2012)
Michael Noonan: I am advised by NAMA that the estimated value of downward adjustments applied to the consideration paid to banks in respect of the acquisition of loans as a result of security defects identified in legal due diligence is â¬477 million. Only a minor part of this relates to legal undertakings provided by solicitors. I understand that as a consequence of the defects identified during the legal...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (3 May 2012)
Michael Noonan: The NAMA SPV was established with Eurostat approval and with Irish Life as one of the private owners. However, as Irish Life is now in public ownership, Eurostat attached a reservation to our Maastricht Returns in which it raised concerns about the private sector ownership of the NAMA SPV and consequently the treatment of NAMA for the purposes of calculating General Government Debt. I am...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (3 May 2012)
Michael Noonan: I propose to take Questions Nos. 73 and 74 together. I am informed by NAMA that other than for land which is under its direct control, NAMA itself does not sell property securing its loans. I am advised by NAMA that, up to end-March 2012, its debtors and receivers have completed 663 legally binding sales transactions of property located in Ireland, some of which relate to multiple properties...
- Written Answers — International Agreements: International Agreements (3 May 2012)
Michael Noonan: A Treaty to establish the European Stability Mechanism (ESM) has been agreed among euro area countries. This is an intergovernmental treaty that stands outside the EU Treaty framework. The ESM Treaty will enter into force when ratified by signatories whose subscriptions represent 90% of the total initial subscriptions. The target date for the Treaty entering into force is 1 July 2012....
- Written Answers — International Agreements: International Agreements (3 May 2012)
Michael Noonan: The EFSF has been created as a temporary institution. The EFSF Framework agreement as amended provides that "Euro-area Member States which are potential Borrowers may only request and enter into Loan Facility Agreements up to 30 June 2013 (provided that Loans may be disbursed after this date under Loan Facility Agreements entered into prior to this date)." It also provides that EFSF...
- Written Answers — National Asset Management Agency: National Asset Management Agency (3 May 2012)
Michael Noonan: In relation to the particular transaction to which the Deputy refers, NAMA has advised me that the sales agent was acting on behalf of the debtor and that a competitive sales process was undertaken. The debtor was not in liquidation. I understand from NAMA that the sale was managed and implemented on behalf of the debtor by a firm of professional sales agents. Following wide engagement with...
- Written Answers — Departmental Correspondence: Departmental Correspondence (3 May 2012)
Michael Noonan: I am assuming the Deputy is referring to the unfortunate and unacceptable leak which took place on February 29th this year. The document which leaked in February was the EU Commission Services Staff report on their assessment of the 5th review of Ireland's EU-IMF Programme of support. As a Commission document, the content of the staff report is the responsibility of the Commission staff, as...
- Written Answers — National Pensions Reserve Fund: National Pensions Reserve Fund (3 May 2012)
Michael Noonan: I am informed by the National Treasury Management Agency, as Manager of the National Pensions Reserve Fund (NPRF), that the provisional total value of the Fund at 30 March 2012 was â¬15.1billion, and the value of the Discretionary Portfolio was â¬5.8 billion including cash balances of â¬0.9 billion. Final valuations of the Discretionary Portfolio and the Directed Portfolio as at 31...
- Written Answers — Tax Yield: Tax Yield (3 May 2012)
Michael Noonan: I am informed by the Revenue Commissioners that the forecast for Carbon Tax 2012 and estimated VAT in respect of each category is as follows: Carbon Tax Estimated VAT 2012 â¬m â¬m Auto Diesel 130.63 3.00 Petrol 79.07 18.19 Aviation Gasoline 0.04 0.01 Fuel Oil 2.76 0.00 MGO 54.86 7.41 Kerosene 44.41 6.00 Auto LPG 0.20 0.05 LPG (Other) 3.94 0.53 Natural Gas 54.80 4.44 ...
- Written Answers — Unsafe Loan Undertakings: Unsafe Loan Undertakings (3 May 2012)
Michael Noonan: I presume the Deputy is referring to information made public by NAMA in March 2012. I am advised by NAMA that the estimated value of downward adjustments applied to the consideration paid to banks in respect of the acquisition of loans as a result of security defects identified in legal due diligence is â¬477 million. I cannot comment on particular transactions, however, I am assured by...
- Written Answers — Unsafe Loan Undertakings: Unsafe Loan Undertakings (3 May 2012)
Michael Noonan: As the Deputy will be aware, under the Relationship Frameworks, the Boards of the Banks are responsible for the day-to-day management and operation of the respective institutions including decisions regarding civil proceedings taken and I have no role in this matter. The question of whether an undertaking provided by a solicitor to a bank is 'false' is a matter of determination by a court of...
- Written Answers — Departmental Staff: Departmental Staff (3 May 2012)
Michael Noonan: My Department does not have any office in Waterford city or county. However, I am advised by the Revenue Commissioners that a total of thirteen staff retired from their offices in Waterford since 1 January 2012. Three of the thirteen staff had reached their normal course retirement age, nine of the staff availed of Cost Neutral Early Retirement and one retired on grounds of ill-health.