Results 8,801-8,820 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: In the morning, the same person will be in communication with the staff. I understand the channel will be through the head of human resources, if that person is available in the morning. However, we are not acting on the spur of the moment. The negotiations have gone on for a very long time and it always was envisaged that this course of action would be the first step. Consequently, the...

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

Michael Noonan: They are preserved and the liquidator in the first instance will be mandated and will have the full powers to proceed with cases and maintain their continuity. Alternatively, if a point arrives at which it is in the interest of the State to settle, he may do that also. At some point, some of this responsibility will transfer to NAMA. However, I wish to assure the Deputy there is no need to...

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

Michael Noonan: No, it is in there.

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

Michael Noonan: It is a bit late at night for conspiracy theories.

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

Michael Noonan: With regard to Deputy Doherty's question, I read out the appropriate section which lists in detail what the security means under the terms of the Act. I understand the ministerial guarantees offered by my predecessor, the late Brian Lenihan, are not supported by e-mails, so that does not arise in this issue. There were fully formed letters exchanged and in so far as there is a ministerial...

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

Michael Noonan: A guarantee is a guarantee and we tend to honour them. That is not the primary issue, which is the promissory note process. That is where the commitment was made by the previous Government. There was an arrangement to repay the funding provided by the European Central Bank through emergency liquidity funding for the Central Bank of Ireland. The money which kept the IBRC where it is was...

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

Michael Noonan: I may be in a position tomorrow to answer some of the questions being asked now.

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

Michael Noonan: I am not in a position to answer those questions tonight. It is worth stating for the information of the House that if a deal had been done today, the first element would have been what we are doing tonight. There is no contention between the European Central Bank and the Governor of the Central Bank of Ireland or the Irish Government on the approach of liquidating IBRC, having one bad bank,...

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

Michael Noonan: Deputy Higgins has been calling for the liquidation of Anglo Irish Bank for years. It is a bit late in the night to talk about the workers when he sentenced them himself years ago.

Written Answers — Department of Finance: Tax Settlements (6 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that data are not maintained in a manner to enable all the details sought by the Deputy to be supplied. However, they have supplied me with the following information for the information of the Deputy. Tax Settlements made in accordance with Section 1086 of the Taxes Consolidation Act (TCA), 1997 are published in Iris Oifigiúil on a quarterly...

Written Answers — Department of Finance: Bank Debt Restructuring (6 Feb 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that I have no statutory role in relation to the sale of mortgage books by regulated financial institutions. This is a commercial matter for each institution concerned. The Central Bank’s Code of Conduct on Mortgage Arrears applies to mortgage lending activities with borrowers in respect of their principal private residence in the State....

Written Answers — Department of Finance: Tax Yield (6 Feb 2013)

Michael Noonan: The Standard Fund Threshold (SFT) is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements. The SFT was reduced in Budget and Finance Act 2011 by over 50% to a level of €2.3 million with effect from 7 December 2010 with transitional arrangements to...

Written Answers — Department of Finance: Departmental Staff (6 Feb 2013)

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. One former staff member is providing contractual services to this Department and is paid at a per diem rate. I am advised by the Revenue Commissioners that having examined their Personnel...

Written Answers — Department of Finance: Property Taxation Exemptions (6 Feb 2013)

Michael Noonan: The Thornhill Group, the interdepartmental group chaired by Dr Don Thornhill to consider the design of a property tax, recommended that “at least a portion” of the Local Property Tax paid in respect of a rented property should be deductible for income tax or corporation tax purposes, in a similar manner to commercial rates. This is not provided for in the Finance (Local Property...

Written Answers — Department of Finance: Bank Guarantee Scheme (6 Feb 2013)

Michael Noonan: As the Deputy may be aware, when the ELG (Amendment) Scheme 2012 was before the Houses of the Oireachtas late last year, Minister for State at my Department Mr.Brian Hayes, T.D. indicated that it was the Government’s intention to begin winding down the Scheme as soon as was practicable in 2013. This strategy has been agreed with the Troika and its implementation remains my clear...

Written Answers — Department of Finance: Illicit Trade in Tobacco (6 Feb 2013)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the collection of tobacco products tax. I am advised by the Revenue Commissioners that in the past they have used paid advertising to promote the confidential free phone number. More recently, it is promoted through their website and the phone number is included in press releases relating to cigarette and tobacco...

Written Answers — Department of Finance: Excise Duty Reliefs (6 Feb 2013)

Michael Noonan: The proposal to introduce an auto-diesel excise duty relief for licensed road hauliers that I announced in the Budget is confined to licensed and tax compliant hauliers. However, I have received a number of submissions from, and on behalf of, private coach operators seeking to have this relief extended to them. I will consider these proposals and the level of the rebate in the context of the...

Written Answers — Department of Finance: Departmental Banking (6 Feb 2013)

Michael Noonan: In response to the Deputy’s question I have received the following information in relation to bodies under the aegis of my Department. Irish Bank Resolution Company (IBRC) At 30 June 2012 IBRC held €0.2Bn of short term interbank placements and nostro accounts of which €0.1Bn is placed with entities covered under the Eligible Liabilities Guarantee (ELG) scheme (see...

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

Michael Noonan: I thank all Senators for their attendance this evening. It is very late and I appreciate their attendance. As Senators are aware the Government has been engaged in detailed discussions with the European Central Bank to agree a satisfactory solution to the issue of the promissory notes for the State, the European Central Bank and the eurozone. The ECB is considering a proposal from the...

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

Michael Noonan: I thank everyone who has contributed. There is a wide variety of views but they are all very interesting. The last speaker, Senator Cullinane, asked if there was any precedent for passing Bills as emergency legislation late at night. There has been a whole series of Offences against the State Acts, when the State was under threat from subversives-----