Results 8,741-8,760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Redundancy Payments (31 Jan 2013)

Michael Noonan: The person in question is a civil servant, and as the Deputy will be aware in the context of the Civil Service Code of Standards and Behaviour, canvassing on behalf of civil servants is not appropriate. I am advised by the Revenue Commissioners that retirement benefits are being processed in accordance with the terms of the Superannuation Scheme for Civil Servants.

Written Answers — Department of Finance: Overseas Development Aid (5 Feb 2013)

Michael Noonan: I assume that the Deputy is referring to the contribution of €20m (over a nine-year period beginning in 2013) which Ireland has pledged to the current replenishment of the Asian Development Fund (ADF), the concessional lending arm of the Asian Development Bank (ADB) of which Ireland has been a member since 2006. The ADF assists development in the poorest countries of Asia and the...

Written Answers — Department of Finance: Property Taxation Exemptions (5 Feb 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 provides for a number of specific exemptions from the charge as well as the possibility of deferring the charge in certain cases of hardship. Exemptions from or deferral of the Local Property Tax only apply in the circumstances provided for in the legislation. A requirement to pay management fees is not relevant in determining liability. ...

Written Answers — Department of Finance: Tobacco Control Measures (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 234, 286, 287 and 288 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tacking the illicit trade in tobacco products, that they attach a high priority to dealing with this criminal activity. Their “Strategy on Combating the Illicit Tobacco Trade (2011-2013) which is published on...

Written Answers — Department of Finance: EU-IMF Agreement (5 Feb 2013)

Michael Noonan: There is no specific reference to this in the programme documentation. However, as outlined previously, the Government considered burden sharing with unguaranteed bondholders in Irish Bank Resolution Corporation (IBRC). The Government always stated that we would not act unilaterally and we would only proceed with the agreement of the ECB and our EU partners. In this regard, as you are well...

Written Answers — Department of Finance: Bank Guarantee Scheme (5 Feb 2013)

Michael Noonan: The Central Bank of Ireland has advised me that as of 18th February 2011 (the nearest available date to end February), the total unguaranteed senior debt issued by the covered institutions was €36,452m of which €20,039m was unguaranteed senior secured and €16,413m was unguaranteed senior unsecured. This information was published on the Central Bank of Ireland website in...

Written Answers — Department of Finance: Bank Debt Restructuring (5 Feb 2013)

Michael Noonan: IBRC provides details of their outstanding liabilities in their published accounts. This cumulative figure amounted to €50.4bn at 30 June 2012 including €45.2bn representing sale and repurchase agreements with banks and central banks. This amount will have to be repaid over time, mainly from annual instalments on the Promissory Notes. The realisable value on the remaining IBRC...

Written Answers — Department of Finance: Bank Codes of Conduct (5 Feb 2013)

Michael Noonan: All regulated financial institutions must comply with the provisions of the Central Bank’s ‘Code of Conduct on Mortgage Arrears’ and the ‘Mortgage Arrears – A Consumer Guide to Dealing with your Lender’, and they include the number of times a lender may contact a borrower who is in arrears or in pre-arrears. As the Deputy can appreciate, it is not...

Written Answers — Department of Finance: Promissory Note Negotiations (5 Feb 2013)

Michael Noonan: As the Deputies are aware, the Irish Government has been working extremely hard to secure a deal on the Irish bank debt with our European partners and detailed work will continue to ensure that positive moves in Europe are harnessed to maximise the benefit to the Irish taxpayer. The focus of the on-going detailed discussions have progressed to consideration of all options in relation to the...

Written Answers — Department of Finance: Capital Expenditure Programme (5 Feb 2013)

Michael Noonan: The capital allocation for my Department for 2013 is €0.150m. None of this budget is allocated for construction projects. The remainder of the €5m that you refer to is allocated to the Office of the Revenue Commissioners.

Written Answers — Department of Finance: Departmental Properties (5 Feb 2013)

Michael Noonan: My functions, as Minister for Finance, under the State Property Act 1954 in relation to the assets of dissolved companies were transferred to the Minister for Public Expenditure and Reform under the Ministers and Secretaries (Amendment) Act 2011 and S.I. no. 418/2011. I have asked the Minister for Public Expenditure and Reform to look into the details of the case referred to by the Deputy...

Written Answers — Department of Finance: Non-Principal Private Residence Charge (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 242, 256 and 290 together. The inter-Departmental Group chaired by Dr Don Thornhill on the design of a property tax (the “Thornhill Group”) recommended that the Non-Principal Private Residence charge (NPPR) should be absorbed into the Local Property Tax (LPT) as a separate supplemental tax in addition to the LPT at the existing level applying...

Written Answers — Department of Finance: Tax Reliefs (5 Feb 2013)

Michael Noonan: The tax affairs of individual companies are a matter for the Revenue Commissioners and the companies concerned. I am informed by the Revenue Commissioners that their obligation to observe confidentiality in relation to the tax affairs of individual taxpayers and companies precludes them from providing the information requested by the Deputy in respect of individual companies. However, the...

Written Answers — Department of Finance: Sale of State Assets (5 Feb 2013)

Michael Noonan: As the Deputy will be aware Goldman Sachs has been retained to advise the State on matters relating to the sale of Irish Life since April 2011 and this engagement, details of which have already been disclosed, is continuing. As I have stated previously the State intends to dispose of its holding in Irish Life as soon as market conditions permit. If a sale was to arise I would expect to be...

Written Answers — Department of Finance: State Banking Sector (5 Feb 2013)

Michael Noonan: As I stated in response to PQ 51139/12, the State paid consideration of €1.3 billion to acquire a 100% interest in Irish Life in June 2012. The shares are held at this value in the Finance Accounts and do not get revalued on a regular basis. In arriving at the consideration agreed in March 2012, information available to us from the sale process which was postponed in late 2011 was...

Written Answers — Department of Finance: Sale of State Assets (5 Feb 2013)

Michael Noonan: I will not refer to specific personnel but I can confirm that the State’s investment in Irish Life is managed by officials within my Department.

Written Answers — Department of Finance: Departmental Staff Redeployment (5 Feb 2013)

Michael Noonan: In accordance with the Ethics Acts (i.e. Ethics in Public Office Act 1995, Standards in Public Office Act 2001), any civil servant intending to be engaged in or connected with (i) any outside business with which he or she had official dealings or (ii) any outside business that might gain an unfair advantage over its competitors by employing him or her, must inform the appropriate authority of...

Written Answers — Department of Finance: Bank Guarantee Scheme (5 Feb 2013)

Michael Noonan: The covered institutions have supplied the following information in response to the Deputy's questions: PTSB has informed me that no legal actions have been initiated by the holders of subordinated or senior bonds in respect of PTSB. AIB has informed me that one claim has been initiated by a New York based entity. It commenced litigation in the United States District Court for the Eastern...

Written Answers — Department of Finance: European Financial Stability Facility (5 Feb 2013)

Michael Noonan: I refer the Deputy to the answer I gave to Question No. 73 of 30 January 2013 in which I outlined the background to the proposals to which he refers. I also set out the assumptions underpinning my assertion that an extension of our EFSF and EFSM loans could yield significant further savings, over time. In my answer on 30 January I noted that the savings arising will depend on a number of...

Written Answers — Department of Finance: NAMA Transactions (5 Feb 2013)

Michael Noonan: I would like to draw the Deputy’s attention to Table 3 on page 33 of the 2011 Annual Report. This table details NAMA's loan acquisitions by institution. It shows that NAMA paid a consideration of €5.6 billion for loan balances of €9.9 billion in the case of BOI. I am advised that, when it granted its approval to the NAMA scheme in February 2010, the European Commission...