Results 5,701-5,720 of 27,019 for speaker:Michael Noonan

Written Answers — Investment Banks: Investment Banks (15 May 2012)

Michael Noonan: I assume that the Deputy is referring to the Strategic Investment Fund (SIF), the establishment of which was announced by the Government in September 2011. The SIF will channel commercial investment from the National Pensions Reserve Fund (NPRF) towards productive investment in the Irish economy. As well as money from the NPRF, the SIF will seek matching commercial investment from private...

Written Answers — Public Liability Insurance: Public Liability Insurance (15 May 2012)

Michael Noonan: As the Deputy is aware public liability insurance is not a compulsory requirement in Ireland at present. However, it is deemed an essential insurance cover by many bodies that authorise others to conduct work on their behalf, e.g. many primary contractors will refuse to allow sub contractors onto a site without proof that they hold adequate public liability cover, even though it is not a...

Written Answers — Tax Reliefs: Tax Reliefs (15 May 2012)

Michael Noonan: I am informed by my colleague, the Minister for the Environment, Community and Local Government, that the responsibility for zoning lands for specific purposes is a matter for planning authorities through their development plans and local area plans. Under the Planning Acts, the making, reviewing and varying of a development plan, and the making, amending or revoking of a local area plan is...

Written Answers — Banking Sector Restructuring: Banking Sector Restructuring (15 May 2012)

Michael Noonan: I propose to take Questions Nos. 179 and 181 together. As the Deputy can appreciate, officials from the Irish Authorities are in constant on-going dialogue, with all of the covered institutions with a view to considering and implementing structures and solutions which would seek to advance the overall financial system. As and when further measures are agreed/solutions emerge I will inform the...

Written Answers — Banking Sector Restructuring: Banking Sector Restructuring (15 May 2012)

Michael Noonan: I can confirm that neither I nor any officials from the Banking Division of my Department have had any contacts with that company in relation to Government plans for further restructuring of the State owned banking sector. I am also informed by AIB and PTSB that they also have not had any contact with that company in relation to further restructuring of the State owned banking sector. While...

Written Answers — National Car Testing Service: National Car Testing Service (15 May 2012)

Michael Noonan: I am informed by the Revenue Commissioners that section 131 of the Finance Act 1992 (as amended by section 104 of the Finance Act 2010) provided for the appointment of a "competent person" to carry out certain functions relating to the registration of vehicles in the State on behalf of the Revenue Commissioners, while section 109 of the Finance Act 2010 provided for the authorisation of such...

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (15 May 2012)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities. Ultimately the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of each lending institution, having due regard to their customers and the impact on...

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (15 May 2012)

Michael Noonan: As has been stated previously, I have no role in the day-to-day commercial and operational decisions, which include these matters. Ultimately, the pricing of financial products, including standard variable mortgage interest rates, is a commercial decision for the management team and board of IL&P, having due regard to their customers and the impact on profitability. Notwithstanding the fact...

Written Answers — European Finanical Stability Fund: European Finanical Stability Fund (15 May 2012)

Michael Noonan: Access to funds under the European Financial Stability Fund (EFSF) can be granted following an application to the EFSF for financial assistance. This assistance will be granted on the basis of a Financial Assistance Facility Agreement. Such an agreement, will be conditional upon the relevant euro-area Member States entering into a Memorandum of Understanding (MoU) with the European...

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

Michael Noonan: I propose to take Questions Nos. 186 to 189, inclusive, together. I have been informed by the Central Bank of Ireland that they are precluded under section 33AK of the Central Bank Act 1942, from disclosing information on individual financial service providers. The Fitness and Probity Regime applies to regulated financial service providers. Under section 21(1) of the Central Bank Reform Act...

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

Michael Noonan: As the Deputy is aware the Board of the bank is responsible for the day to day operation of the bank including communications with the bank's customers. Nonetheless when the matter of the text communication was raised in the context of the UK Court hearings I wrote to the Chairman of the bank seeking assurances in relation to the matter. I have been informed by the bank that IBRC uses...

Written Answers — Ministerial Transport: Ministerial Transport (15 May 2012)

Michael Noonan: In response to the Deputy's question the annual costs for the new scheme introduced for the provision of drivers for Ministers are a matter for each Department. In relation to the use of my car for Ministerial travel under this scheme, the total cost for the period May 2011- May 2012 has been €129,867.81. This cost includes mileage (which is to cover car related expenses), the salaries...

Written Answers — Departmental Correspondence: Departmental Correspondence (15 May 2012)

Michael Noonan: The Deputy's question raises a number of issues which are quite complex and which appear to fall under the responsibility of a number of Departments. From an initial analysis, it appears these Departments include the following: Jobs, Enterprise and Innovation; Justice and Equality; and Environment, Community and Local Government. As a result, it is not possible to provide the definitive...

Written Answers — National Asset Management Agency: National Asset Management Agency (15 May 2012)

Michael Noonan: NAMA launched its 80:20 Deferred Payment Initiative on 8 May 2012. This initiative is being made available initially on a pilot basis in respect of 115 houses located in residential developments in counties Dublin, Meath and Cork. Further details on the Initiative including eligible properties are available on NAMA's website, www.nama.ie. I am informed by NAMA that the pilot scheme will be...

Written Answers — National Asset Management Agency: National Asset Management Agency (15 May 2012)

Michael Noonan: I have been informed by NAMA that it estimates it received income in respect of 33% of its loan portfolio, representing a nominal value of €23.55 billion of the total nominal value of the portfolio of €71.19 billion. It is estimated that for 21% of the loan portfolio (a nominal value of €15.05 billion), loans are fully performing in accordance with their contractual obligations; for an...

Written Answers — Liquor Licensing Laws: Liquor Licensing Laws (15 May 2012)

Michael Noonan: I am advised by the Revenue Commissioners that all persons or entities who wish to obtain a publican's licence must hold a valid tax clearance certificate. Tax compliance issues, including the matter of outstanding liabilities, are dealt with through the tax clearance process. If an old licensee, who owes tax, and a proposed new licensee, are connected persons within the meaning of Section...

Written Answers — Appointments to State Boards: Appointments to State Boards (15 May 2012)

Michael Noonan: In the period in question the following appointments were made by me as Minister for Finance to bodies under the remit of my Department. NTMA Advisory Committee Mr. John Moran, Secretary General, Department of Finance, was appointed to the National Treasury Management Advisory Committee on the 6th March 2012. The post was not advertised because it has been the norm to appoint the...

Written Answers — Fuel Prices: Fuel Prices (16 May 2012)

Michael Noonan: I propose to take Questions Nos. 75 and 76 together. The excise rates (including the carbon charge) in Ireland on motor fuels are 58.8 cent per litre of petrol and 47.9 cent per litre of auto-diesel. However, our rates remain lower than many of our main trading partners and significantly lower than our nearest neighbour the UK. The rates for petrol and auto-diesel were increased with effect...

Written Answers — Mortgage Arrears: Mortgage Arrears (16 May 2012)

Michael Noonan: The Central Bank is engaging with all regulated mortgage lenders on the mortgage arrears resolution strategies project. This is a key element of the overall approach to address the mortgage arrears problem. The objective of this engagement is to ensure that each lender has an effective strategy and plan for dealing with its mortgage customers who are, or who are likely to be, in difficulty....

Written Answers — Departmental Functions: Departmental Functions (16 May 2012)

Michael Noonan: The revised Statement of Strategy for the Department sets out its mission: "to manage Government Finances and play a central role in the achievement of the Government's economic and social goals having regard to the Programme for Government. In this way we will play a leadership role in the improvement of the standards of living of our citizens". This Department is redirecting our own...