Results 9,001-9,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Portfolio (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 261 and 262 together. NAMA advises that detail on the breakdown, by county, of the value of property securing NAMA’s loans is provided in its Annual Reports and Financial Statements for 2011, which is available on the NAMA website, www.nama.ie. Properties under the control of receivers or other insolvency professionals appointed by NAMA are...

Written Answers — Department of Finance: IBRC Liquidation (19 Feb 2013)

Michael Noonan: I am sure the Deputy will understand that for commercial reasons hourly rates cannot be disclosed. It is obvious that in the circumstances, a tender process could not have been entered into for the liquidation of IBRC due to the sensitivity of the matter. However, I can assure him that the rates that have been agreed are commensurate with those agreed following a tender process undertaken...

Written Answers — Department of Finance: National Solidarity Bonds (19 Feb 2013)

Michael Noonan: Trade unions can hold the National Solidarity Bonds subject to the common limits on holdings that apply to all holders. In respect of the 4-year National Solidarity Bond, the limit is €250,000 and in respect of the 10-year National Solidarity Bond the limit is also €250,000, bringing the overall maximum possible holding to €500,000. Where a trade union wishes to place...

Written Answers — Department of Finance: Job Initiatives (19 Feb 2013)

Michael Noonan: Rather than announcing initiatives, my Department puts in place measures, via the Budget and Finance Bill process, to support and increase employment, among other policy objectives. As such, the information in tabular form which the Deputy is seeking is not available from my Department. The role of these measures is to encourage and assist employers in their own efforts and to provide them...

Written Answers — Department of Finance: Exchequer Revenue (19 Feb 2013)

Michael Noonan: It is assumed that the threshold for the proposed new income tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the...

Written Answers — Department of Finance: European Central Bank Funding (19 Feb 2013)

Michael Noonan: As the Deputy is aware, the Government’s approach to the discussions with our European partners has always been constructive and consensual. This approach has been very successful to date, as witnessed in the developments earlier this month, and by meeting our commitments and engaging in constructive dialogue with our European partners we expect further results in the future. The...

Written Answers — Department of Finance: Tax Code (19 Feb 2013)

Michael Noonan: As I advised the Deputy in December, the matter of the introduction of an SMS/MMS levy will be kept under review by my Department. I am aware of the recent introduction of a tax on messages and telephone calls in Hungary, and I understand that this tax is the subject of a formal challenge by the European Commission. Officials of my department are monitoring developments in this regard,...

Written Answers — Department of Finance: European Investment Bank (19 Feb 2013)

Michael Noonan: The European Investment Bank (EIB) was established in 1958, under the Treaty of Rome, as the long-term lending bank of the European Union. The EIB is owned by the EU Member States who subscribe to the Bank's capital. As shareholders, the Member States are represented on the Bank's main independent decision-making bodies, the Board of Governors and the Board of Directors. The overall objective...

Written Answers — Department of Finance: International Taxation Conventions (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 270 to 272, inclusive, together. I am advised by the Revenue Commissioners that in common with all of Ireland’s agreements for the avoidance of double taxation, the Ireland – Zambia Double Taxation Convention contains a provision which allows the tax authorities of the two jurisdictions to consult with each other under what is called the...

Written Answers — Department of Finance: Tax Settlements (19 Feb 2013)

Michael Noonan: I am informed by Revenue that the person in question has an outstanding tax liability of €9,047. The person is meeting these liabilities by way of a ‘longer term’ phased payment arrangement since July 2010 and is to date fully compliant with the terms of that arrangement. The arrangement was agreed between the person and solicitors acting for Revenue on foot of an...

Written Answers — Department of Finance: Central Bank Investigations (19 Feb 2013)

Michael Noonan: The Central Bank has advised me that they have commenced their programme of themed reviews and inspections and work is scheduled to continue throughout the year. The Code of Conduct on Mortgage Arrears review will be carried out in respect of a number of lenders and will involve both on-site visits and desk based analysis of policies and procedures currently in place or under...

Written Answers — Department of Finance: Mortgage Arrears Rate (19 Feb 2013)

Michael Noonan: Detailed information in relation to the Bank’s financial performance, including information on provisioning, is published semi-annually in the Bank’s interim report and annual report and accounts. The Bank’s 2011 Annual Report, pages 169-173, provides detailed disclosure on the Bank’s residential mortgage portfolio. More recent information can be found in the...

Written Answers — Department of Finance: IBRC Liquidation (19 Feb 2013)

Michael Noonan: As the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. A key element of the restructuring of the Promissory Notes was the liquidation of IBRC. The disappearance of the former Anglo Irish Bank and former Irish...

Written Answers — Department of Finance: NAMA Investment Funds (19 Feb 2013)

Michael Noonan: I am advised by NAMA that it envisages that it will make up to €2 billion in vendor finance available, mainly in Ireland, on commercial terms to purchasers of commercial properties securing its loans. The further details sought by the Deputy relate to the commercial dealings of NAMA and publication or otherwise of this information is a matter for NAMA in the context of commercial...

Written Answers — Department of Finance: NAMA Loans (19 Feb 2013)

Michael Noonan: I am advised by NAMA that when it approves the sale of any loan or approves the sale of any secured property by a debtor or receiver, it requires a confirmation that the purchaser is not connected to the relevant debtor. NAMA advises that the term ‘connected’ is widely defined to cover anyone acting on the debtor’s behalf. This is to ensure that the transaction can be...

Written Answers — Department of Finance: NAMA Loan Book (19 Feb 2013)

Michael Noonan: NAMA advises that methodology and strategies applied in the case of any given loan sale is determined after consultation and discussion with the appointed loans sale advisor. The approach adopted in any particular case will be determined by the ultimate objective of maximising sales proceeds.

Written Answers — Department of Finance: IBRC Liquidation (19 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 281 to 284, inclusive, together. As the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. It is too early in the process to speculate on the potential financial outcome of the...

Written Answers — Department of Finance: IBRC Liquidation (19 Feb 2013)

Michael Noonan: I will lay the relevant directions to NAMA before Dáil Eireann this week.

Written Answers — Department of Finance: Black Economy (19 Feb 2013)

Michael Noonan: As regards representations, it is the policy in my Department that, when any such communication is received, its contents are noted and details circulated to the relevant officials, and to the Revenue Commissioners, as appropriate. A response is then prepared and issued. The Revenue Commissioners are very mindful of the unfair competitive advantage to be gained by those businesses that do...

Written Answers — Department of Finance: Financial Services Ombudsman (19 Feb 2013)

Michael Noonan: The method of calculating the levies which regulated financial services institutions provide to the Office of the Financial Services Ombudsman to carry out its duties are set out in Statutory Instrument Number 506 of 2012. I have been informed by the Office of the Financial Services Ombudsman that the details of the actual amount which each such institution pays is given on the basis that...