Results 8,781-8,800 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I have been advised by the Revenue Commissioners that contact has been made with the pension provider who has advised that a small amount of Universal Social Charge has been deducted in error from the pension. The error will be corrected and the amount deducted will be refunded.

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

Michael Noonan: The information requested by the Deputy could not be collated in the time available. My Department will respond directly to the Deputy as soon as possible.

Written Answers — Department of Finance: Mortgage Arrears Rate (5 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 280 and 281 together. The Central Bank of Ireland compiles and publishes data on a quarterly basis on mortgage arrears, repossessions and mortgage restructures on an aggregate basis across the State and the latest data was published in December 2012 for end Quarter 3, 2012. The Central Bank has advised me that it does not publish mortgage arrears data on a...

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

Michael Noonan: I am advised by the Revenue Commissioners that in line with other taxes such as Capital Gains Tax (CGT) and Capital Acquisitions Tax (CAT), where the market value of residential property is relevant to the assessment for a tax, the curtilage of the dwelling house includes an area of up to one acre. This is regarded as land which is enjoyed as an amenity with the dwelling-house and includes...

Written Answers — Department of Finance: Consultancy Contracts (5 Feb 2013)

Michael Noonan: As the Deputy is aware discussions in relation to the Promissory Notes have been on-going for some time. This has been part of a wider range of considerations on national debt sustainability and the cost of recapitalising and supporting the Irish banking industry. A number of resources external to the civil service have been retained since March 2011 to assist in technical and strategic...

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

Michael Noonan: I have been advised by the Revenue Commissioners that, as the person concerned did not pay income tax or Universal Social Charge during 2012, there is no rebate due.

Written Answers — Department of Finance: Budget 2014 Issues (5 Feb 2013)

Michael Noonan: In 2011, EU countries launched the European Semester cycle as agreed at the European Council in June 2010. The aim of the Semester is that EU-level discussions on fiscal policy, macroeconomic imbalances, financial sector issues, and growth-enhancing structural reforms will now always take place before governments draw up their draft budgets and submit them to national parliamentary debate in...

Written Answers — Department of Finance: Mortgage Interest Rates (5 Feb 2013)

Michael Noonan: I, as Minister for Finance, have no statutory role in the setting of the standard variable mortgage interest rates charged by regulated financial institutions. It is a commercial matter for each lending institution concerned. The standard variable mortgage interest rates that financial institutions operating in Ireland charge to customers are determined as a result of a commercial decision...

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

Michael Noonan: The legislation governing Local Property Tax (LPT) is contained in the Finance (Local Property Tax) Act 2012 which was enacted on 26 December 2012. The legislation sets out in detail how the tax is to be administered and provides how a residential property is to be valued for LPT purposes. There is no specific exemption from the Local Property Tax for the type of cases outlined in the...

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

Michael Noonan: I assume the Deputy is referring to the Health Contribution which was introduced in the Health Contributions Act, 1979. The position is that the Universal Social Charge, introduced in Budget 2011 replaced the Health Contribution and Income Levy. Therefore, I am unable to provide the data sought by the Deputy.

Written Answers — Department of Finance: Insurance Costs (5 Feb 2013)

Michael Noonan: Pricing of insurance is generally determined by an assessment an insurer will make of the risks involved. Generally I understand that previous claims experience will have a major influence on such matters. Therefore, if there has been a major increase in claims in a particular area, then this will be reflected in an increase in premiums. Competition in the market place acts as a...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I move: "That the Bill be now read a Second Time." I thank the Deputies for their attendance at such short notice and at such a late hour. As I have consistently informed the House, the Government has been in ongoing discussions with the European Central Bank to reach an agreed position on resolving the promissory note satisfactorily for all sides, namely, the Irish State, the European...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I wish to emphasise that the reason these steps are being taken is entirely distinct from the performance or direction of the board or management of the IBRC. It is simply compelling in the larger public interest to now take this action and the Government has made its decision on that basis alone. I wish to acknowledge, with much appreciation, the significant efforts the directors and staff...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: That will be done by the liquidator.

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: We straightened NAMA out and freed it up.

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I thank everyone who contributed to the debate. I appreciate that the hour is late and the time limited. I ask Deputies one question initially. Did they ever hear of a liquidation that was announced on one day and not implemented for several days or weeks? Are all liquidations not announced when the liquidator has moved in? Is it not simple to understand why that is? If that is not...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I am making a serious point. Let us look at the purpose of the Bill. It is to put a special liquidator with special powers into IBRC first thing tomorrow morning when the President has signed the Bill so that Irish taxpayers' assets of, potentially, €14 billion are protected. Let us think of the purpose of the Bill. We can go on to the detail later, when we have a short Committee...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: If we did not have a stamped copy of the Bill, we could not bring it into the House so ipso facto, it is constitutionally proofed by the Attorney General. A number of Deputies have drawn attention to potential difficulties they see in section 17. This would be a serious issue if it was not part of our law already. Under section 17, powers are transferred from the Minister for Finance of...

Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I realise the difficulties for the staff. The legal position is as I outlined in my introductory remarks. The liquidator will require the specialist expertise of the staff who are familiar with the portfolios within the banks and they will be hired on a contract basis by the liquidator. As well as that, in running down certain portfolios, NAMA will be recruiting from the staff who have...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: In the first instance, Deputy Doherty's question refers to section 1 - the interpretation section - and asks me to define "security". On page 6 of the Bill it is already defined. It states:"security" includes -(a) a charge, (b) a guarantee, indemnity or surety, (c) a right of set-off, (d) a debenture, (e) a bill or exchange, (f) collateral, (h) any other means of securing -(i) the...