Results 9,361-9,380 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Appointments to State Boards (5 Mar 2013)

Michael Noonan: In response to the Deputy’s question the following appointments were made in respect of bodies under the aegis of my Department since March 2011. Fiscal Advisory Council The following people were appointed to the Fiscal Advisory Council on 7th July 2011: Mr Sebastian Barnes Professor Alan Barrett Dr Donal Donovan Professor John McHale, Chair Dr Roisin O’Sullivan ...

Written Answers — Department of Finance: Local Authority Housing Bonds (5 Mar 2013)

Michael Noonan: I am advised development bonds that were previously entered into by IBRC in favour of the various county councils or local authorities remain in place. However it should be noted that it is likely that any liabilities arising under these arrangements, if called upon, will rank as unsecured claims in the special liquidation. It must be stressed that these bonds are contingent liabilities and...

Written Answers — Department of Finance: NAMA Legal Fees (5 Mar 2013)

Michael Noonan: I am advised by the National Treasury Management Agency that costs totalling €71,350 have been incurred by them to date in respect of the case referred to by the Deputy. My colleague, the Minister for Public Expenditure and Reform, has advised me that the Office of the Commissioner for Environmental Information has informed him that the estimated fees incurred by them to date in...

Written Answers — Department of Finance: NAMA Court Cases (5 Mar 2013)

Michael Noonan: Under the National Asset Management Agency Act 2009 (the NAMA Act) NAMA was established as a body corporate and Section 9(3) of the NAMA Act provides that "except as otherwise provided by this Act, NAMA is independent in the performance of its function under this Ac". NAMA is governed by an independent board of directors. This is a matter for Board of NAMA.

Written Answers — Department of Finance: State Banking Sector (5 Mar 2013)

Michael Noonan: I have been informed that AIB previously indicated that it wrote to former senior executives of both AIB and EBS requesting a voluntary reduction in their pension levels. AIB is not disclosing the names of the individuals on confidentiality grounds but the Bank has to date issued in excess of 30 letters. Currently the bank is in discussions with a number of individuals and further disclosures...

Written Answers — Department of Finance: Banking Sector Regulation (5 Mar 2013)

Michael Noonan: I have been advised by the Central Bank that, in accordance with the provisions of Consumer Protection Code, the Central Bank was notified by Ulster Bank Ireland Limited of an under-collection error in mortgage payments. The Bank is working with Ulster Bank to ensure that all impacted consumers are treated fairly. The error resulted from a failure to move consumers to full capital and...

Written Answers — Department of Finance: Mortgage Resolution Processes (5 Mar 2013)

Michael Noonan: The Government is acutely aware of the increasing financial stress that some households are facing arising from difficulty in meeting their mortgage commitments. However, the banks in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and decisions on the handling of their individual mortgages and other loans, including distressed...

Written Answers — Department of Finance: IBRC Legal Fees (5 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 179 and 180 together. Due to commercial confidentiality and sensitivities, and also solicitor/client confidentiality, the Special Liquidators do not propose to provide details relating to amounts due and paid to Arthur Cox for both the calendar year 2012 and for 2013 between 1 January and 6 February 2013.

Written Answers — Department of Finance: Tax Reliefs (5 Mar 2013)

Michael Noonan: Digital games are essentially software development and would already be a field of science and technology for the purposes of the R&D tax credit scheme. Relevant R&D expenditure on games should already qualify under the existing terms of the tax credit scheme, provided any specific games development achieves scientific or technological advancement and involve the resolution of...

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

Michael Noonan: Exemptions from the Local Property Tax are only applicable in the circumstances provided for in the legislation. I have no plans to exempt properties built under local authority “low cost site schemes from the Local Property Tax.

Written Answers — Department of Finance: Tax Reliefs (5 Mar 2013)

Michael Noonan: As I informed the Deputy in my reply to his question of 26 February last, the annual return that relevant employers must submit to the Revenue Commissioners detailing, inter alia, the number of employees and the amounts of exempt income claimed under the Special Assignee Relief Programme was not due for submission until after the end of the tax year 2012. This is in order to ensure that an...

Written Answers — Department of Finance: IBRC Liquidation (5 Mar 2013)

Michael Noonan: I am informed by the Special Liquidators that there are not 200 KPMG consultants on site. The presence of KPMG staff is to ensure the orderly wind up of IBRC and they are working closely with the staff retained by the liquidator in order to complete the liquidation process. As the Deputy is aware, the legislation surrounding liquidation ranks employees as preferential creditors in respect...

Written Answers — Department of Finance: Credit Unions Issues (5 Mar 2013)

Michael Noonan: I am advised by the Central Bank of Ireland that certain tracker bonds sold to Credit Unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme for that element of the product. As a result the first €100,000 of any claim from these depositors is covered under the DGS Scheme. I have been...

Written Answers — Department of Finance: Property Taxation Collection (6 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 59 and 60 together. In line with all other taxes, the Finance (Local Property Tax) Act 2012 provides for the charging of interest on overdue taxes at annual rate of 8% or 0.0219% per day, the same as the rate chargeable in relation to overdue income or capital gains taxes. The legislation provides for the possibility of full or partial deferral in certain...

Written Answers — Department of Finance: Tax Collection (6 Mar 2013)

Michael Noonan: I consider that intervention by me in an issue involving Revenue and an individual taxpayer would not be appropriate. It is a longstanding convention that the Minister for Finance does not intervene in such matters. I would note also the provision enacted by the Oireachtas last year in the Ministers and Secretaries (Amendment) Act 2011 whereby the independence of the Revenue Commissioners...

Written Answers — Department of Finance: Banking Sector Regulation (6 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 62 to 64, inclusive, together. As the Deputy will be aware Allied Irish Bank, Permanent TSB and Bank of Ireland all hold Irish banking licences issued by the Central Bank of Ireland. I have been also advised by the Central Bank that under Section 33AK of the Central Bank Act, the Central Bank of Ireland is restricted in its ability to detail specific...

Written Answers — Department of Finance: Banking Sector Regulation (6 Mar 2013)

Michael Noonan: I propose to take Questions Nos. 65 to 68, inclusive, together. The Central Bank of Ireland has informed me that under Section 33AK of the Central Bank Act 1942, the Bank is restricted in its ability to detail specific elements of the licensing and supervision requirements of individual Credit Institutions, and cannot therefore provide details of the licensing criteria of the Banks...

Written Answers — Department of Finance: Mortgage Arrears Proposals (6 Mar 2013)

Michael Noonan: The Central Bank, under its MARs project, has for some time been intensively working with lenders to ensure that they can offer a range of longer term options to their customers who are experiencing mortgage difficulty. These can include mortgage-to-rent, trade-down mortgages, equity participation, interest rate reduction, split mortgages and sale by agreement, or other appropriate options...

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (6 Mar 2013)

Michael Noonan: I have been informed by the Central Bank that, under Section 33AK of the Central Bank Act 1942, the Bank is restricted in its ability to provide information in relation to the performance of the functions of the Bank or the exercise of its powers. Therefore the Central Bank is unable to provide the information requested by the Deputy. The high level findings from both the research and Code...

Written Answers — Department of Finance: Government Bonds (6 Mar 2013)

Michael Noonan: The Irish Government fully understands the need for the ECB to ensure it is operating within its mandate. As previously outlined by the Central Bank of Ireland, the bonds will be placed in the Central Bank’s trading portfolio and will be sold, provided that conditions of financial stability permit. The disposal strategy will of course maintain full compliance with the Treaty...