Results 7,941-7,960 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Job Losses (22 Nov 2012)

Michael Noonan: The sale of the Quinn Insurance Ltd (QIL) to Liberty Insurance was a matter for the Joint Administrators subject to the approval of the High Court. As Minister for Finance I was not a party to the transaction. Consequently, I sought clarification from the QIL Joint Administrators on whether any commitment was given by Liberty Insurance at the time of the sale in relation to the retention of...

Written Answers — Department of Finance: Tax Compliance (22 Nov 2012)

Michael Noonan: I am advised by the Revenue Commissioners that their tax and duty compliance programmes are under constant review to ensure that they are focused on the areas of greatest risk, including risks from fraudulent activity. In the construction sector, Relevant Contracts Tax (RCT) applies to payments made by a principal contractor to a subcontractor under a relevant contract (this is a contract...

Written Answers — Department of Finance: Tax Code (22 Nov 2012)

Michael Noonan: Without specific details, it is not possible to estimate the effect on inflation of a sugar tax. With regard to reducing the VAT rate on healthier foods, I would point out that the VAT rating of various foods already provides for such a distinction. Most food products sold by retail shops are liable to VAT at the zero rate, including basic foodstuffs, for example, bread, butter, tea,...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: I refer the Deputy to PQs 48795, 49499, 50511 and 50513 which I have answered in the last few weeks and which provide information on the basic salaries in the covered banking institutions. With reference to the further information requested the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: I refer the Deputy to PQ 51068 [No. 187] which I answered on Tuesday 20th and which provides information on the remuneration packages in AIB, BOI, PTSB, IBRC, NAMA and NTMA. With reference to the further information requested the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: The Deputy should note that I have already provided the latest available information when responding to an earlier parliamentary question on 20 November (Ref: 51230/12) [No. 205]. The latest available information for the institutions are as follows: - Salary € (‘000) Pension € (‘000) Other benefits/ remuneration €(‘000) Amount Waived Total...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: As the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the information you have requested. My officials and the banks have provided a very significant level of detail on remuneration and pensions in the Covered Banks and other institutions in tight timeframes. We have received over 50...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: As the Deputy will be aware, officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the information you have requested. My officials and the banks have provided a very significant level of detail on remuneration and pensions in the Covered Banks and other institutions in tight timeframes. We have received over 50...

Written Answers — Department of Finance: Banking Sector Remuneration (22 Nov 2012)

Michael Noonan: As the Deputy will be aware officials in my Department and Mercer have been working on a remuneration review of the Covered Banks and do not currently have the information you have requested. My officials and the banks have provided a very significant level of detail on remuneration and pensions in the Covered Banks and other institutions in tight timeframes. We have received over 50...

Written Answers — Department of Finance: Tax Code (27 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that Stamp Duty is chargeable at the rate of 2% (non-residential) on the open market value of land, which is being transferred. However, the transfer between a parent and child currently qualifies for consanguinity relief (i.e. half the normal rate of duty that would otherwise apply), and accordingly the effective rate of tax in this case is likely...

Written Answers — Department of Finance: Customs and Excise Controls (27 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that their Customs Service currently deploys 15 detector dog teams at strategic locations throughout the country. This figure includes two new teams, which are in the course of being commissioned and which will be fully operational from December 2012. The dogs are used to detect drugs, tobacco and cash and are used at ports, airports, mail centres,...

Written Answers — Department of Finance: Disabled Drivers (27 Nov 2012)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of a car adapted for the transport of a person with specific severe and permanent physical disabilities, to those who meet certain disability criteria. The disability criteria for eligibility for the tax concessions under this scheme are set out in...

Written Answers — Department of Finance: Credit Availability (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 193, 195 and 255 together. The Government has imposed SME lending targets on the two domestic pillar banks for the three calendar years, 2011 to 2013. Both banks were required to sanction lending of at least €3 billion in 2011, €3.5 billion this year and €4 billion in 2013 for new or increased credit facilities to SMEs. Both banks...

Written Answers — Department of Finance: Transport Costs (27 Nov 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the Irish Road Haulage Association and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry including the matter of an essential users rebate. I have received a submission from the group. I have also recently met with representatives of...

Written Answers — Department of Finance: Promissory Notes (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 196 and 198 together. As the deputy is aware, the Promissory Note repayments, both capital and interest, are made to IBRC. As IBRC is wholly owned by the State, any return to the State will be by way of dividends from IBRC or from the projected final net asset position for IBRC. The bank previously informed me that the projected final net asset position for...

Written Answers — Department of Finance: Budget 2013 (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 197 and 234 together. With regard to budgetary matters, when focusing on the primary objectives of reducing the deficit and returning sustainability to the public finances, it has been of vital importance to the Government to spread the burden of the adjustments made in as fair and equitable a manner as possible, while also seeking to minimise their negative...

Written Answers — Department of Finance: Securities Ownership (27 Nov 2012)

Michael Noonan: Unlike in the case of shares, the holders of banks senior and subordinated debt instruments are not subject to a disclosure regime. When a bank issues a bond, whether by private placement or public issue, it would be usual practice for these to be settled through intermediaries and held by custodians, for example Clearstream or Euroclear. These securities are traded in the open market and...

Written Answers — Department of Finance: Bank Debt Restructuring (27 Nov 2012)

Michael Noonan: It is a matter for the borrower and lender, in the contract agreement for credit or in any subsequent agreement to change or revise that contract, to agree the terms of that arrangement including, as appropriate, the repayment provisions of the loan having regard, inter alia, to the circumstances of the borrower. Any guidelines that a lender may develop to assist it in making commercial...

Written Answers — Department of Finance: Pension Provisions (27 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 201 and 202 together. The legislation the Deputy refers to – the Financial Emergency Measures in the Public Interest Act 2010 (No 38) – implemented a reduction in public service pensions to certain retired public servant pensioners. It only applies to members of public services pension schemes and does not apply to semi-states or the private...

Written Answers — Department of Finance: Financial Institutions Support Scheme (27 Nov 2012)

Michael Noonan: I assume the Deputy’s question refers to those banks participating in the Government guarantee schemes and reference to the ‘cost of the guarantee’ relates to the Credit Institutions Financial Support Scheme 2008 (CIFS Scheme) which was in operation between 30 September, 2008 and 29 September, 2010, and the Eligible Liabilities Guarantee Scheme (ELG Scheme) which came...