Results 7,401-7,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: National Asset Management Agency (6 Nov 2012)

Michael Noonan: The National Asset Management Agency informs me that since its inception it has, through the National Treasury Management Agency, recruited 227 staff, 14 of whom have been recruited directly from the Irish Bank Resolution Corporation or its predecessor entities.

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I am advised by Bank of Ireland that the information the Deputy seeks is as follows: Period Staff Costs (€m) * Reported Staff Numbers at period end 6 Months ended 30 June 2012 443 13,397 Year ended 31 Dec 2011 862 13,234 12 month period ended 31 Dec 2010 1,003 14,235 9 month period ended 31 Dec 2009** 780 14,847 For the year ended 31 March 2009 1,197 15,487 *...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 258 and 259 together. I have been advised by the bank of the following information regarding the number of employees and remuneration for Anglo Irish Bank, Irish Nationwide and IBRC. 12 mths 12 mths 15 Mths 12 mths 12 mths 6 mths Sep-07 Sep-08 Dec-09 Dec-10 Dec-11 Jun-12 Anglo / IBRC Staff Costs €'m €'m €'m...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 260 and 261 together. I am advised by the institution that the information the Deputy seeks is as follows: Period/Institution Staff Costs (€m) * Average number of Staff reported at period end 6 Months ended 30 June 2012 (Ptsb) 72 2,176 Year ended 31 Dec 2011 (IL&P) 410 4,323 Year ended 31 Dec 2010 (IL&P) 342 4,338 Year ended 31...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I can inform the Deputy that Irish Life provides disclosure on the number of its employees and the total remuneration each year in its financial statements. It does not disclose this information in its interim accounts. The total wages and salaries for staff in 2011 was €138 million and the average number of employees for that year was 2,185. The Deputy will find this and additional...

Written Answers — Department of Finance: Banking Sector Staff (6 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 263 to 265, inclusive, together. I am advised by Allied Irish Banks that the information requested by the Deputy is as follows: AIB Group – Incl. EBS Period Staff Costs (€m)* Average FTE ** 6 months ended 30 June 2012 730 14,840 Year ended 31 December 2011 956 14,612 AIB Group- continuing operations (BZWBK has been excluded for all...

Written Answers — Department of Finance: Tax Code (6 Nov 2012)

Michael Noonan: It is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions. However, the Deputy will be aware of the high income individuals’ restriction, which is already in place. The most recent report by the Revenue Commissioners on the restriction is in respect of the 2010 tax year. This...

Written Answers — Department of Finance: Universal Social Charge (6 Nov 2012)

Michael Noonan: The position is that payments made in lieu of Department of Social Protection payments, such as Community Employment Schemes paid by the Department of Jobs, Enterprise and Innovation, are exempt from the Universal Social Charge. I am advised by the Revenue Commissioners that Revenue records indicate that the individual concerned commenced with the employment scheme on 15 Oct 2012 and was...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The Department of Finance conducted an extensive economic impact assessment during the summer and autumn of 2011 relating to “legacy” property-based tax relief schemes. This involved: -An analysis of all available data from the Revenue Commissioners on claims to date in respect of legacy property reliefs; -An analysis of Central Bank and financial institution data in respect of...

Written Answers — Department of Finance: Tax Reliefs (6 Nov 2012)

Michael Noonan: The level at which interest repayments can be claimed against tax for residential rental properties was reduced from 100% to 75% in section 5 of the Finance Act 2009. There is no specific proposal in the Programme for Government to decrease the amount of interest on borrowings that can be offset against rental income for tax purposes, however, as a matter of course all such taxation...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield, estimated by reference to 2012 incomes, from imposing a further income levy of 5% on all income that is currently liable to the Universal Social Charge (USC) would be of the order of €920 million. The estimated yield is based on applying a 5% levy to all the income of income earners who earn in excess of...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the Domicile Levy was introduced by section 150 of the Finance Act 2010. Returns and payments in respect of the Domicile Levy for any tax year are made in the following year. In 2011, returns and payments in respect of the Domicile Levy for the tax year 2010 (the first year for which the levy applied) were made by 11 persons who paid a total of...

Written Answers — Department of Finance: Tax Yield (6 Nov 2012)

Michael Noonan: I have been provided by the Revenue Commissioners with information in relation to the amounts of value added tax on new housing and on the amounts of stamp duty on residential property for the years 2008 to 2012 to date. Based on data published by the Department of the Environment, Community and Local Government, the estimated yield of Value Added Tax from residential property...

Written Answers — Department of Finance: Pension Provisions (7 Nov 2012)

Michael Noonan: I am aware of the proposal from IBEC for pre-retirement access to be allowed for individuals to certain forms of pension saving arrangements, subject to conditions. This proposal is being examined although there are various difficulties associated with permitting early access to pension savings to which I have referred in previous replies to parliamentary questions on this issue. It is not...

Written Answers — Department of Finance: VAT Rates (7 Nov 2012)

Michael Noonan: The Finance (No. 2) Act 2011 provided for a second reduced VAT rate, of 9%, on a temporary basis in respect of certain tourism-related services and goods for the period 1 July 2011 to 31 December 2013. This measure is aimed at contributing towards boosting tourism and the creation of additional jobs in that sector. Initial analysis of the impact of 9% VAT rate indicates that employment...

Written Answers — Department of Finance: Insurance Costs (7 Nov 2012)

Michael Noonan: At the outset the Deputy should note that individual decisions on pricing and underwriting are a commercial matter for insurance companies and neither I, nor the Central Bank, has any influence over this matter. I have been informed that each application for flood cover is considered on a case by case basis, as this allows an insurance company to properly assess the risk it is accepting....

Written Answers — Department of Finance: Departmental Meetings (7 Nov 2012)

Michael Noonan: My Department has supplied me with the following list of dates in 2011 and 2012 that my officials met with officials of the Irish Bankers Federation. 2011 3 February (1 meeting) 15 March (1meeting) 13 April (1 meeting) 14 April (1 meeting) 15 April (1 meeting) 18 April (1 meeting) 25 May (1 meeting) 12 July (1 meeting) 11 August (1 meeting) 29 August (1 meeting) 22...

Written Answers — Department of Finance: Banking Sector Remuneration (7 Nov 2012)

Michael Noonan: I have been advised by the Bank of the following information with regard to staff’s annual salary as at 31st December 2011. (Salary only) Staff No’s # as at 31 Dec 2011 Ireland, UK and US €0 - €99,000 1060 €100,000 - €149,000 108 €150,000 - €199,000 23 €200,000 - €299,000 21 €300,000 -...

Written Answers — Department of Finance: Banking Sector Remuneration (7 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 44 to 46, inclusive, together. I have been advised by IBRC that the CEO, Mike Aynsley, is a permanent employee of the Bank. Mr Aynsley’s contract was entered into in August 2009 and was effective from 7 September 2009. The normal termination date of the contract is upon the CEO’s 60th birthday which is 24 March 2018. Standard termination...

Written Answers — Department of Finance: Banking Sector Remuneration (7 Nov 2012)

Michael Noonan: At a meeting on the 5th April 2012, I asked the Chairman of IBRC, Mr Alan Dukes, if the Board of the Bank would consider a reduction of 15% in senior management salaries. Mr Dukes subsequently informed me that reductions in pay levels for individual staff in IBRC, (the entity tasked with winding down the former Anglo Irish Bank and INBS), had been considered by the Board of the Bank and that...