Results 6,801-6,820 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The information requested by the Deputy is provided as follows. NIE National Debt GDP current Prices National Debt as % GDP 1992* 33450 40,489 83% 1993* 36006 43,605 83% 1994* 37111 46,864 79% 1995 38358 53,787 71% 1996 37980 58,894 64% 1997 38966 68,154 57% 1998 37510 78,685 48% 1999 39851 90,683 44% 2000 36511 105,775 35% 2001 36183...

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The data requested by the Deputy for the period 1992-2011 is set out in the table. For consistency, the figures are presented in millions of euro. The Deputy might like to know that almost all of the data is contained in my Department’s Budgetary & Economic Statistics publication, the most recent edition of which was published in September 2011. The September 2011 and earlier...

Written Answers — Department of Finance: Household Debt Statistics (2 Oct 2012)

Michael Noonan: Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household income are taken from the quarterly Institutional Sector...

Written Answers — Department of Finance: Household Debt Statistics (2 Oct 2012)

Michael Noonan: Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household disposable income are taken from the quarterly...

Written Answers — Department of Finance: Pension Provisions (2 Oct 2012)

Michael Noonan: Additional Voluntary Contributions (AVCs) may be made by employees in addition to any regular or compulsory contributions which they may make to their pension scheme. AVCs are eligible for tax relief at the employee’s marginal rate of income tax in the same way as regular contributions subject to the application of the annual earnings and age-related percentage relief limits which...

Written Answers — Department of Finance: Mortgage Interest Rates (2 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Banks policies in relation to lending rates is a matter for the boards and management of each institution. Notwithstanding the fact that the State is a significant shareholder in various institutions, I must ensure that the banks are run on a commercial, cost effective and independent basis to ensure the value of each bank as an asset to the State, as set out...

Written Answers — Department of Finance: Banking Sector Regulation (2 Oct 2012)

Michael Noonan: As the Deputy will be aware, the Banks’ policies in relation to lending rates are a matter for the boards and management of each institution. Notwithstanding the fact that the State is a significant shareholder in various institutions, I must ensure that the banks are run on a commercial, cost-effective and independent basis to ensure the value of each bank as an asset to the State, as...

Written Answers — Department of Finance: Credit Review Office Appeal Numbers (2 Oct 2012)

Michael Noonan: I have been informed by the Credit Review Office that it has received 202 formal applications since the establishment of the Office. Of these 10 are proceeding through the review process and 19 have been abandoned or withdrawn leaving 173 cases which in which the Office issued a recommendation. The Credit Review Office recommended that the applicant was granted credit in 95 cases or 55% and...

Written Answers — Department of Finance: Credit Ratings (2 Oct 2012)

Michael Noonan: The Credit Reporting Bill 2012 was published last Friday, 28th September 2012. It was a commitment under the EU/ECB/IMF Programme of Financial Support to have the Bill published before end September. When the Bill is enacted and the necessary tendering processes are finalised, the Central Credit Register will be established. It is not possible at this early stage to give an accurate...

Written Answers — Department of Finance: Tax Yield (2 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 130 and 131 together. I am advised by the Revenue Commissioners that the relevant information that is readily available at this time in respect of the top 1%, 5%, 10%, 20% and 50% of income earners is as estimated by reference to the income tax year 2012, and is set in the following table: - Top 1% of income earners Top 5% of income earners Top 10% of...

Written Answers — Department of Finance: National Debt (2 Oct 2012)

Michael Noonan: The data requested by the Deputy for the period 2007-2015 is set out in the table. The current forecast horizon is out to 2015 and so forecasts post 2015 are not available at present. The 2012-2015 forecasts are taken from the Stability Programme Update published last April. I would also like to make the Deputy aware that my Department is currently updating its macroeconomic and fiscal...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (2 Oct 2012)

Michael Noonan: I am advised by NAMA that, apart from the recent case which has been referred to An Garda Síochána, it has not identified any other possible breaches of confidentiality involving an employee of the Agency. The Deputy may wish to also consider my response to a Parliamentary Question from Deputy Pearse Doherty (38531/12, 20th September 2012), which addresses the safeguards in place...

Written Answers — Department of Finance: NAMA Staff Transactions (2 Oct 2012)

Michael Noonan: I propose to take Questions Nos. 134 and 135 together. I am informed by NAMA that it is aware of only one transaction involving the sale of property by a NAMA debtor to a former employee. The deputy maybe aware that the aforementioned employee did not disclose the transaction to NAMA at any time either prior to or following the transaction. NAMA has also informed me that they have not...

Written Answers — Department of Finance: Mortgage Interest Relief Application (2 Oct 2012)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source [TRS] system. The 30% rate of mortgage interest relief for those who took out their first qualifying home loan between 2004 and 2008 came into effect with the enactment of the Finance Act 2012. The regulations provide for the granting of the...

Written Answers — Department of Finance: Debt Cancellation (2 Oct 2012)

Michael Noonan: I understand that in 2010 both the World Bank and the International Monetary Fund (IMF) cancelled all the outstanding liabilities that they were owed by Haiti. In the case of the World Bank this amount was USD 36 million; for the IMF it was USD 274 million. At the same as it cancelled Haiti’s liabilities, the IMF also approved a request from Haiti for a three-year Extended Credit...

Written Answers — Department of Finance: Tax Code (2 Oct 2012)

Michael Noonan: Irish VAT law is subject to the provisions of the EU VAT Directive with which it must comply. Up to 31 December 2011 admissions to historic houses and gardens, and open farms were treated for VAT purposes as lettings and regarded as exempt from VAT. Having regard to certain decisions of the European Court of Justice, where a letting was defined for VAT purposes, it was decided that such...

Written Answers — Department of Finance: GDP-GNP Levels (2 Oct 2012)

Michael Noonan: The information requested by the Deputy is provided as follows. NIE GDP Current Prices GNP Current prices 1992* 40,489 35,998 1993* 43,605 38,943 1994* 46,864 42,146 1995 53,787 47,634 1996 58,894 52,027 1997 68,154 59,660 1998 78,685 68,739 1999 90,683 77,133 2000 105,775 90,287 2001 117,643 98,668 2002 130,877 107,182 2003 140,827...

Written Answers — Department of Finance: Bank Charges (2 Oct 2012)

Michael Noonan: The Central Bank has advised me that under Section 149 of the Consumer Credit Act, 1995 (as amended), credit institutions and bureaux de change must notify the Central Bank if they wish to: - Introduce any new customer ‘charge’ for providing a service or - Increase any existing customer ‘charge’ for providing a service. The Central Bank assesses these charges...

Written Answers — Department of Finance: Departmental Staff Recruitment (3 Oct 2012)

Michael Noonan: Information regarding the number of retired public servants who have been re-hired is detailed in the Appropriation Accounts. The Appropriation Accounts are available online at www.audgen.gov.ie. During the period January 2012 to date, one former staff member provided contractual services to this Department for 1.5 days and was paid at a per diem rate. The Deputy may wish to contact other...

Written Answers — Department of Finance: Tax Code (3 Oct 2012)

Michael Noonan: Based on an estimate of around €170 million of bets having been placed with on-course bookmakers at race meetings in 2011, it is estimated that applying the 5% betting duty to such bets would yield the Exchequer approximately €8.5 million. However, this is a straight line calculation and does not take account of the impact of such a duty on betting activity, attendance at race...