Results 8,821-8,840 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: -----when the Dáil and the Seanad had to meet late into the night.

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

Michael Noonan: I am answering Senator Cullinane's question.

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

Michael Noonan: The Senator challenged me to come up with a precedent where the Houses of the Oireachtas sat through the night to pass emergency legislation.

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

Michael Noonan: If Senator Mary White thinks I can sit here and be abused late into the morning but not be allowed to reply to a simple question with a truthful answer, I do not think that is the way the Seanad should proceed. This is an open forum and there is an exchange of views. I am entitled to reply, especially when confirming the truth.

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

Michael Noonan: I know the truth hurts but that is no reason not to express the truth occasionally. This is stand-alone legislation. I do not know whether the European Central Bank will agree a deal on the promissory notes tomorrow. The ECB will discuss it tomorrow and discussed it this evening. The ECB may agree or may not and there may be no deal. This is a stand-alone item of legislation which, on...

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

Michael Noonan: They will not be acting in the interest of the Irish taxpayer. That is why the language is couched in this fashion. If the Senator wants an explanation of where we are coming from, he should just read the Long Title. He will see that a Long Title always outlines the scope of a Bill and its position. If this were normal legislation, I would be first to the agree with Senator Barrett's...

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

Michael Noonan: Senator Ó Clochartaigh, ar an gcéad dul síos, ní raibh ísliú riamh san Eoraip ar na fiacha oifigiúil, fiú amháin sa Ghréig. Cé go raibh ísliú ar na fiacha príobháideacha sna bainc, ní raibh ísliú riamh, ná ní bheidh, ar na fiacha oifigiúil. Níl sé ar intinn ag an ECB ísliú mar sin a chur ar fáil do thír ar bith san Eoraip. Ní dhearnadar é sa Ghréig. Ba...

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

Michael Noonan: The best thing I can do is read the speaking note on the section. With effect from the making of the special liquidation order there shall, subject to some exceptions, be an immediate stay on all proceedings against IBRC. No further actions or proceedings can be issued against IBRC without the consent of the High Court and the Minister may discharge or remove any liquidator or examiner that...

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

Michael Noonan: First, on the overall cost of liquidation, the assets being liquidated are valued at somewhere between ¤12 billion and ¤14 billion. Therefore, we are talking about a liquidation of assets worth ¤13 billion. The cost I was given earlier - it was more of a guesstimate than an estimate - was ¤30 million to ¤35 million based on standard NAMA fees. It is in that space, which does not...

Written Answers — Department of Finance: Services for People with Disabilities (7 Feb 2013)

Michael Noonan: Liability for local property tax will be calculated based on the “chargeable value” of the residential property. Where a disabled person's grant has been allocated for an extension or improvements to a home to facilitate the physical requirements of disabled or elderly people, the Finance (Local Property Tax) Act 2012 does not currently allow any necessary works to be...

Written Answers — Department of Finance: Tax Rebates (7 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that Section 473A Taxes Consolidation Act 1997 provides, subject to certain conditions, for tax relief at the standard rate of income tax (20%) for qualifying tuition fees paid by an individual in respect of a third level education course including a postgraduate course. I am further informed by the Revenue Commissioners that subsection (4) of...

Written Answers — Department of Finance: Tax Reliefs (7 Feb 2013)

Michael Noonan: The tax and duty reliefs currently available to support the funding of sports clubs may be summarised as follows: Exemption from Income Tax and Corporation Tax Section 235 of the Taxes Consolidation Act 1997 (TCA) provides an Income Tax exemption to sporting bodies which have been approved by Revenue Commissioners on the basis that the body has been established and exists for the sole...

Written Answers — Department of Finance: Departmental Expenditure (7 Feb 2013)

Michael Noonan: Amounts received from the pension fund levy are paid into the Exchequer central fund. Central fund is made up of tax revenue, non-tax revenue and borrowing. These funds are used in the day-to-day running of the State and it is therefore extremely difficult to quantify which specific funds are used for which purpose. That said, it is possible to cost the measures contained in the Jobs...

Written Answers — Department of Finance: Pension Provisions (7 Feb 2013)

Michael Noonan: While the liabilities and terms and conditions of the pension schemes to which the Deputy refers are primarily matters of responsibility of other Ministers, I am given to understand that the position on the issues raised in his question are as follows: Pension Fund Levy The pension fund levy applies at a rate of 0.6% per annum to the market value, on the valuation date, of assets under...

Written Answers — Department of Finance: Proposed Legislation (7 Feb 2013)

Michael Noonan: As the Deputy will be aware, the Government announced the establishment of the Strategic Investment Fund (SIF) in September 2011. The SIF will channel commercial investment from the National Pensions Reserve Fund (NPRF) towards productive investment in the Irish economy, following appropriate changes to the legislation under which the NPRF operates. As well as money from the NPRF, the SIF...

Written Answers — Department of Finance: Personal Debt (7 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 55 and 56 together. I note the launch of a protocol on unsecured credit which was an initiative of the IBF. Initiatives such as the IBF protocol can certainly assist in encouraging and facilitating creditors and debtors to engage with one another in an open, constructive manner to address debt arrears and genuine debt difficulty. This can resolve positions...

Written Answers — Department of Finance: Official Engagements (7 Feb 2013)

Michael Noonan: The Minister speaks regularly with President Draghi, including on the margins of Eurogroups/Ecofins and this topic is regularly covered – there were some 15 Eurogroups or Ecofins or both in 2012 and there has been one this year to date. Furthermore there were also three scheduled meetings with President Draghi in Europe during 2012. I am satisfied that every available and appropriate...

Written Answers — Department of Finance: Tax Code (7 Feb 2013)

Michael Noonan: The tax practices of multinational corporations, online or otherwise, are currently the focus of work being carried out by a number of international oganisations, in particular the OECD and the EU. There is a broad consensus that responses to this issue need international coordination in order to be effective. Coordination is needed because the problems that arise are typically as a result of...

Written Answers — Department of Finance: Pension Provisions (7 Feb 2013)

Michael Noonan: In my Budget 2013 speech, I announced that I would make provision in Finance Bill 2013 for persons making Additional Voluntary Contributions (AVCs) used to supplement their main scheme retirement benefits to withdraw up to 30% of the value of those contributions. The provisions will not apply to contributions made to a PRSA (other than additional voluntary contributions made by a scheme...

Written Answers — Department of Finance: Property Taxation Application (7 Feb 2013)

Michael Noonan: The Local Property Tax will be based on the market value of residential properties as at 1 May 2013 and will be self-assessed by liable persons. The Government agreed with the recommendation of the Inter-Departmental Expert Group on the Design of a property tax (the “Thornhill group”) that the Local Property Tax should be centered on the principles of equity, transparency and...