Results 6,301-6,320 of 27,019 for speaker:Michael Noonan

Written Answers — Bank Debt Restructuring: Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: As the Deputy is aware, the Government has been fully committed to reviewing the arrangements that were put in place to capitalise IBRC. The purpose of this review was to determine if there is a way to reduce the overall cost to the State. In tandem with this review the Troika have opened a discussion on how best the Irish banking system and the Irish State can benefit from having further...

Written Answers — Mortgage Interest Rates: Mortgage Interest Rates (5 Jul 2012)

Michael Noonan: Notwithstanding the fact that the State is a significant shareholder in the covered institutions, I must ensure that the banks are run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset to the State, as per the Memorandum on Economic and Financial Policies agreed with the EU Commission, the ECB and the IMF. Relationship Frameworks have now been...

Written Answers — Credit Unions Regulation: Credit Unions Regulation (5 Jul 2012)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions. Within his independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my role is...

Written Answers — Credit Unions Regulation: Credit Unions Regulation (5 Jul 2012)

Michael Noonan: The General Scheme of the Credit Union Bill 2012 was approved by Government on June 26 and published on June 28 following consultation with the Commission on Credit Unions and engagement with key stakeholders. The General Scheme has been forwarded to the Office of the Attorney General for formal drafting. It is also being referred to the Oireachtas Joint Committee on Finance, Public...

Written Answers — Departmental Staff: Departmental Staff (5 Jul 2012)

Michael Noonan: In my Department, no staff member who retired in the last six months has been rehired. I am advised by the Revenue Commissioners that there have been no such cases since 1 March 2012. However, they have advised that two officials who retired within the last six months have recently worked for them in an advisory capacity on a pro bono basis.

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: I acknowledge the importance of the haulage industry to our export-led economy. As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters...

Written Answers — Banking Sector Staff: Banking Sector Staff (5 Jul 2012)

Michael Noonan: It is deeply regrettable, for all concerned, that the proposed action of shedding of jobs, even on a voluntary basis in these challenging economic times, at Allied Irish Banks and Bank of Ireland as announced, has had to be taken. This is an inevitable consequence of the necessary restructuring of the banking system to render it fit to better serve personal and business customers throughout...

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2012)

Michael Noonan: Last October the Government published the Report of the Inter-Departmental Working Group on Mortgage Arrears ("Keane Report") and the implementation of its recommendations is now a significant part of the Government's overall efforts to tackle mortgage difficulty. As announced last week, a number of significant milestones have now been achieved in the implementation of the report's...

Written Answers — Promissory Notes: Promissory Notes (5 Jul 2012)

Michael Noonan: As the Deputy is aware, the Government has been fully committed to reviewing the arrangements that were put in place to capitalise IBRC. The purpose of this review was to determine if there is a way to reduce the overall cost to the State. In tandem with this review the Troika have opened a discussion on how best the Irish banking system and the Irish State can benefit from having further...

Written Answers — Bank Debt Restructuring: Bank Debt Restructuring (5 Jul 2012)

Michael Noonan: 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 Houses as appropriate. The recent very welcome Euro...

Written Answers — Promissory Notes: Promissory Notes (5 Jul 2012)

Michael Noonan: As the Deputy is aware, the Government has been fully committed to reviewing the arrangements that were put in place to capitalise IBRC. The purpose of this review was to determine if there is a way to reduce the overall cost to the State. In tandem with this review the Troika have opened a discussion on how best the Irish banking system and the Irish State can benefit from having further...

Written Answers — Credit Unions Regulation: Credit Unions Regulation (5 Jul 2012)

Michael Noonan: The Government established the Commission on Credit Unions in May 2011 to review the future of the credit union movement and to make recommendations in relation to the most effective regulatory structure for credit unions. The Commission, which included two members of the Irish League of Credit Unions (ILCU), met on 29 occasions before publishing its Final Report on 18 April 2012....

Written Answers — Fiscal Policy: Fiscal Policy (5 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 40, 57, 58 and 71 together. 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 that I have repeatedly pressed for at EU meetings. This message has been echoed by the Taoiseach, the Tánaiste and other...

Written Answers — Tax Code: Tax Code (5 Jul 2012)

Michael Noonan: It was announced in Budget 2011 that the necessary arrangements are being made to ensure that bets placed on the internet by domestic punters are subject to the same level of betting duty as applies to high street betting shops. This will serve to broaden the tax base and increase betting duty receipts. The Finance Act 2011 provides for the taxation of bets that remote bookmakers enter into...

Written Answers — Economic Policy: Economic Policy (5 Jul 2012)

Michael Noonan: I regularly meet with my EU and euro area counterparts to discuss fiscal, banking and economic issues affecting both the EU and the euro area. These typically take the format of scheduled monthly meetings of the Ecofin council and the Eurogroup. In addition, I participate in teleconferences of Finance Ministers when important issues arise that require immediate discussion. In relation to...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Fuel Prices: Fuel Prices (5 Jul 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised. I note the recent trend in falling oil prices and I hope that this...

Written Answers — Job Creation: Job Creation (5 Jul 2012)

Michael Noonan: 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. Measures to be implemented at national level include the full implementation of the country-specific recommendations from the European Semester as well as pursuing...

Written Answers — Mortgage Arrears: Mortgage Arrears (5 Jul 2012)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing arising from difficulty in meeting their mortgage commitments. The Deputy will be aware that the Interdepartmental Report on Mortgage Arrears indicated that the reform of personal insolvency legislation is a central catalyst to the resolution of the mortgage arrears problem. In particular, it...