Results 6,241-6,260 of 27,019 for speaker:Michael Noonan

Written Answers — European Stability Programmes: European Stability Programmes (4 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 59, 63 and 64 together. I am in continuous contact with other European finance ministers and will attend Eurogroup and ECOFIN on the 9th and 10th of July to debate the proposals on Economic and Monetary Union agreed at last week's Council meeting. Officials in my Department have been in regular contact with their counterparts across the European Union for...

Written Answers — European Stability Programmes: European Stability Programmes (4 Jul 2012)

Michael Noonan: As the Deputy will be aware, agreement has been reached to provide loans of up to €100 billion for the recapitalisation of Spanish banks. Loans have not been requested to finance the Spanish sovereign. The financial assistance is to be provided by the EFSF until the ESM becomes available, at which stage it will be transferred to the ESM. The Deputy will also be aware that Heads of State...

Written Answers — Tax Code: Tax Code (4 Jul 2012)

Michael Noonan: The Government's position on Ireland's corporation tax rate is very clear and well known to our EU colleagues. In the context of the discussions on fiscal union, I would like to inform the Deputy that the current proposals on tax simply reflect existing arrangements and do not bring anything new, including corporation tax, to the table.

Written Answers — European Fiscal Union: European Fiscal Union (4 Jul 2012)

Michael Noonan: On June 25th, and in advance of the European Council on 28th/29th June, the President of the European Council published a report entitled Towards a Genuine Economic and Monetary Union. The report sets out a vision for the future of EMU and proposes to move, over the next decade, towards a stronger EMU architecture based on integrated frameworks for the financial sector, for budgetary matters...

Written Answers — Tax Code: Tax Code (4 Jul 2012)

Michael Noonan: Section 17 Finance Act 2003 inserted a new Section 865 into the Taxes Consolidation Act 1997 and subsection (4)(b) of that Section introduced a 4 year time limit as regards claims for repayment of tax made on or after 1 January 2005. At the same time that the 4 year time limit for claiming repayment of tax was introduced, the right of the Revenue Commissioners to raise assessments was also...

Written Answers — Cycle to Work Scheme: Cycle to Work Scheme (4 Jul 2012)

Michael Noonan: I am aware of recent reports of possible abuse of the cycle to work scheme. It would be inappropriate for me to comment on the process of administration of tax reliefs and schemes, which is a matter for the Revenue Commissioners. I am however, advised by the Revenue Commissioners that from time to time random checking is carried out on particular reliefs and schemes to ensure compliance with...

Written Answers — Prompt Payments: Prompt Payments (4 Jul 2012)

Michael Noonan: In response to the Deputy's question the average time lapse between receipt of invoices for goods and services and actual payment in my Department is 10.48 days. This information is taken from data compiled for Prompt Payments Returns to the Department of Jobs, Enterprise and Innovation, dealing with payments that issue to the private sector, as opposed to transfers to other parts of the...

Written Answers — Tax Code: Tax Code (4 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 69 to 72, inclusive, together. I am informed by the Central Bank that there are 5,199 Investment Funds domiciled in Ireland; 6% of their equity holdings are held by Irish investors. Of the total number of investment funds 86 are Money Market Funds; 9% of their equity holdings are domestically held. I understand that some 12,500 jobs are directly sustained by...

Written Answers — National Aquatic Centre: National Aquatic Centre (4 Jul 2012)

Michael Noonan: The process for reporting back to the Public Accounts Committee is the established accounting process of a Minute of the Minister for Public Expenditure and Reform. This process is in train in relation to the PAC Report on VAT Costs on the National Aquatic Centre, but has not been finalised. The Minute will provide a full response to the PAC report, including details of implementation of...

Written Answers — Tax Yield: Tax Yield (4 Jul 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2012 incomes, of increasing the higher rate of income tax by 1 percentage point would be approximately €205 million. This figure is estimated from the Revenue tax-forecasting model using actual data for the year 2009 adjusted as necessary for income and employment trends in the...

Written Answers — Tax Yield: Tax Yield (4 Jul 2012)

Michael Noonan: It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2012 incomes, of the introduction of a new 50% rate...

Written Answers — Departmental Staff: Departmental Staff (4 Jul 2012)

Michael Noonan: The awarding of an increment in my Department is subject to staff being assessed, on a number of grounds set out in both Department of Finance Circular 09/1987, Increments and in Civil Service Conciliation and Arbitration Scheme, General Council Report 1452, Integration of PMDS with HR Policies and Processes. Subject to all of these conditions being achieved satisfactorily an increment may...

Written Answers — Compact for Growth and Jobs: Compact for Growth and Jobs (4 Jul 2012)

Michael Noonan: As I have said before, my view is that measures to boost economic growth can play an important role in addressing the current crisis in the EU. In this context, Heads of State or Government in the EU decided on a compact for growth and jobs at the European Council on 28th June. This involves action by Member States and at EU level in order to boost growth, investment and employment....

Written Answers — Sale of State Assets: Sale of State Assets (4 Jul 2012)

Michael Noonan: The Government has now agreed the shape and scale of the asset disposal programme to be pursued as a commitment under the EU/IMF Programme, and as provided for in the Programme for Government. The Government has agreed with the Troika sale of state assets up to a value of €3 billion based on the guiding principles that there will be no fire sales, integral transmission and distribution...

Written Answers — Public Sector Staff: Public Sector Staff (4 Jul 2012)

Michael Noonan: In my Department, no staff member who retired in the last six months has been rehired.

Business of Dáil (5 Jul 2012)

Michael Noonan: I so move.

Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: Last week's announcement following the euro area summit in Brussels represents a major shift in European policy in terms of breaking the link between recapitalising the banks and the sovereign, a policy change for which I have repeatedly pressed at European Union meetings. This message has been echoed by the Taoiseach, Tánaiste and other Ministers in meetings with their EU colleagues. The...

Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: There are a number of specifics in the statement. The first decision is the principle now has been set out clearly at the highest political level in Europe that the vicious circle between banking debt and sovereign debt will be separated. The second decision is that in this context, Ireland's sustainability and success in the programme will be reviewed and third, it contains a reaffirmation...

Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: The best way to understand this is that Europe works in different ways at different times. Sometimes it examines the details of a problem and comes up with solutions and the sign-off is at the highest political level. At other times, when little progress is being made on the detail, the Heads of State and Government at the highest political level make a statement of principle in which they...

Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: Yes, it is tied into a banking supervisor being in place. However, it also is linked to President Van Rompuy's statement on a banking union. The banking union will develop a banking supervisor to supervise at least the main international banks in Europe, perhaps comprising 100 banks out of the 8,000 banks operating across the European Union. The timeline to have the banking supervisor in...