Results 8,881-8,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Bank Debt Restructuring (12 Feb 2013)

Michael Noonan: I am informed by Permanent TSB that the majority of the loan assets of Permanent TSB Finance Limited and the entire loan assets of Blue Cube Personal Loans Limited were sold to Consumer Auto Receivables Finance Limited in late 2012. In addition, a small portfolio of largely corporate loans was sold by Permanent TSB Finance Limited to a third party global bank. I am informed by Permanent TSB...

Written Answers — Department of Finance: Bank Debt Restructuring (12 Feb 2013)

Michael Noonan: I am informed by Permanent TSB that the loss booked on disposal is subject to audit and will be published in the Bank’s Annual Report which is due to be published in March 2013. Permanent TSB advises that a competitive sales process was undertaken, facilitated by the Bank’s corporate finance advisors. The Bank has informed me that over 20 parties were initially invited to...

Written Answers — Department of Finance: Bank Debt Restructuring (12 Feb 2013)

Michael Noonan: I am advised by Permanent TSB that the sale price achieved after a detailed process was recommended by the financial advisers and approved by the Boards of Permanent TSB Finance and Permanent TSB. I am informed by Permanent TSB that the remaining information sought is commercially sensitive. Permanent TSB advises that the financial impact of the sale will be reflected in the Annual Report...

Written Answers — Department of Finance: Banking Sector Staff (12 Feb 2013)

Michael Noonan: As I previously stated in response to PQ 53111/12 Permanent TSB has advised me that there are 82 employees employed at the two operating units and that all of the staff are being transferred to First Citizen Finance Limited. Therefore no redundancies have resulted from the transaction.

Written Answers — Department of Finance: Bank Debt Restructuring (12 Feb 2013)

Michael Noonan: I am advised by Permanent TSB that no loan book disposals are envisaged by it at this time.

Written Answers — Department of Finance: Bond Redemption (12 Feb 2013)

Michael Noonan: I have been informed by Permanent TSB that it currently has sufficient resources to repay the April 2013 maturity. Permanent TSB advises that these funds come from deposit growth and the benefits of restructuring the balance sheet.

Written Answers — Department of Finance: General Government Debt (12 Feb 2013)

Michael Noonan: Budget 2013 contained a forecast General Government Balance (Deficit) of -8.2% of GDP which was based on the most up to date information available at the end of November. In light of the better than expected Exchequer returns for December 2012, it is now reasonable to expect that the General Government Balance (GGB) for 2012 will be under -8% of GDP. However, the first official estimate of...

Written Answers — Department of Finance: EU-IMF Agreement (12 Feb 2013)

Michael Noonan: The EU-IMF Programme of Financial Support is subject to policy conditionality which is set out in programme documents - the Memorandum of Understanding on Specific Economic Policy Conditionality (MOU), the Memorandum of Economic and Financial Policies (MEFP) and the Technical Memorandum of Understanding. The conditionality in these documents is subject to continuing assessment by the Irish...

Written Answers — Department of Finance: Property Taxation Application (12 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that where a liable person is one of a married couple living together where the property on which Local Property Tax (LPT) is chargeable is in one name, the tax can be paid from either spouse’s income using the various payment options available. This includes payment by way of deduction at source from employment or occupational pension...

Written Answers — Department of Finance: Equality Issues (12 Feb 2013)

Michael Noonan: The Programme for Government contains a clear commitment that all public bodies would take due note of equality and human rights in carrying out their functions. The State and its bodies must, of course, comply with all provisions of equality legislation in the development and delivery of policies and services. My Department abides by all statutory requirements as well as Civil Service...

Written Answers — Department of Finance: Promissory Note Negotiations (12 Feb 2013)

Michael Noonan: As the Deputy is aware, this Government reached a conclusion to its discussions with the European Central Bank last week that delivered on our commitment to put in place a fairer and more sustainable arrangement on the IBRC Promissory Notes. Last week also saw the remnants of Anglo Irish Bank and Irish Nationwide removed from the financial and political landscape. Following the exchange of...

Written Answers — Department of Finance: Banking Sector Staff (12 Feb 2013)

Michael Noonan: I have been informed by AIB that there are no staff members who have taken early retirement from the EBS since the beginning of 2012, regardless of salary level.

Written Answers — Department of Finance: Mortgage Arrears Proposals (12 Feb 2013)

Michael Noonan: Firstly, I must confirm to the Deputy that it is not appropriate for me to comment or become involved in the mortgage arrangements of an individual borrower. Neither could I advise a customer whether or not to dispose of a property. I can assure the Deputy that the Government is committed to advancing appropriate measures to assist those mortgage holders who are experiencing genuine...

Written Answers — Department of Finance: Voluntary Housing Sector (12 Feb 2013)

Michael Noonan: General housing policy, including policy on home ownership and the provision of mortgages by local authorities, to people who are unable to get a mortgage from a commercial lender for the purpose of purchasing a private house, is primarily a matter for the Department of the Environment, Community and Local Government. In that regard, the housing policy statement, published in June 2011 by...

Written Answers — Department of Finance: Tax Forms (12 Feb 2013)

Michael Noonan: I am informed by Revenue that the taxpayer presented a HPL1 form for stamping at their Cork office on 23 October 2012. A letter was issued to him on 24 October 2012 explaining that the form could not be stamped. The wording of the section on the form HPL1 to be completed by Revenue reads: "I hereby certify, in accordance with my records and to the best of my knowledge, that the above...

Written Answers — Department of Finance: Tax Code (12 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that in the absence of specific details it is only possible to reply to your query in general terms as follows: Capital Gains Tax A chargeable gain arising on the disposal of an asset on foot of a compulsory purchase order is liable to capital gains tax in the same way as any other disposal, subject to a minor variation as to when the time of...

Written Answers — Department of Finance: VAT Rates (12 Feb 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, assuming the rate of VAT being referred to is the standard rate, the full year cost of reducing the rate from 23% to 21% is estimated at €570m. I have no current plans to reduce VAT rates.

Written Answers — Department of Finance: Pension Provisions (12 Feb 2013)

Michael Noonan: Pensions payable by the Department of Social Protection (DSP) have always been taxable but the amount of tax payable, if any, depends on the circumstances of the individual concerned, usually whether they have other sources of income. As I have previously informed the House, I have been advised by the Revenue Commissioners that following receipt of data from the DSP in late 2011 containing...

Written Answers — Department of Finance: NAMA Debtors (12 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 231 to 233, inclusive, together. NAMA advises that its role as a secured lender does not extend to determining or restricting the clubs or associations to which individuals debtors may belong. Nor is NAMA in a position to dictate a debtor’s choice of holiday location. NAMA seeks to ensure that income generated by assets securing NAMA loans is...

Written Answers — Department of Finance: Financial Services Regulation (12 Feb 2013)

Michael Noonan: The Minister for Finance has no role in the management of the financial regulatory functions of the Central Bank. However, I have been informed by the Central Bank that, due to the confidentiality requirements set out in Section 33AK of the Central Bank Act 1942, it cannot comment on any investigation that may have taken place into the activities of regulated firms.