Results 12,021-12,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Haddington Road Agreement Savings (17 Jul 2013)

Michael Noonan: Agreement will facilitate a reduction of €1 billion in the Public Service pay and pensions bill by 2016. In relation to my own Department, the savings arising under the Agreement have been incorporated in the Department’s Revised Estimate for 2013 and further details for 2014 and 2015 will be incorporated in the vote allocations in the context of the overall Estimates process....

Written Answers — Department of Finance: Banking Sector Issues (17 Jul 2013)

Michael Noonan: I believe it is important to clarify that while the Department of Finance was aware that there were recordings of phone conversations in Anglo Irish Bank to the best of my knowledge the content of the specific tapes referred to was never raised with the Department. The Central Bank was also aware of phone recordings in the bank but I have been advised by the Central Bank that it was not aware...

Written Answers — Department of Finance: Ministerial Transport (17 Jul 2013)

Michael Noonan: In response to the Deputy’s Question as an from 1 May 2011 all Cabinet Ministers with the exception of the Taoiseach, the Tánaiste and the Minister for Justice and Equality now use their own cars on official business. Prior to this date transport for Ministers was provided via the Department of Justice and Equality. The annual estimated costs as per the Department of Justice and...

Written Answers — Department of Finance: EU Directives (17 Jul 2013)

Michael Noonan: As an independent body, the central bank does not provide me with detailed reports on their consultations with industry on any matter and I do not oversee these processes. However, I would draw to your attention that MiFID II is not yet agreed and therefore any consultations the Central Bank might have on matters placed within their discretion by MiFID II, when agreed, have not taken place. I...

Written Answers — Department of Finance: Fuel Laundering (17 Jul 2013)

Michael Noonan: The laundering of marked diesel and the distribution and sale of laundered fuel poses a serious threat to tax yield and to legitimate businesses. As part of the strategy to combat these illegal activities, all traders who deal in, or deliver, marked diesel or marked kerosene have, since 1 October 2012, been required to hold a marked fuel trader’s licence. This is an annual licence and...

Written Answers — Department of Finance: Tax Yield (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 64 and 67 together. I am advised by the Revenue Commissioners that the data requested by the Deputy is contained in the following table. Net Taxes Paid by the Aircraft Leasing Sector from 2005 to 2012 - VAT1 Employer's Income Corp. CGT Total - - PAYE Tax Tax - - - €m €m €m €m €m €m 2005 -6 9 0 4 0 7 2006 -10 12...

Written Answers — Department of Finance: Tax Yield (18 Jul 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information on total tax receipts broken down by sector, including the financial intermediation sector for the years 2007, 2008, 2009 and 2010, are available from the Revenue Statistical Reports which are accessible on the Revenue website at www.Revenue.ie. The information is located in Table TR6, under the main chapter heading of...

Written Answers — Department of Finance: Financial Services Sector (18 Jul 2013)

Michael Noonan: The Deputy might find the data contained in the Central Bank's Quarterly Financial Accounts useful. These accounts present a set of data for all resident institutional sectors. The Preliminary data tables in the accounts show the financial assets of each institutional sector in terms of their quarterly financial balance sheets. The link on the Central Bank's website is as follows: . Table...

Written Answers — Department of Finance: Banking Sector Issues (18 Jul 2013)

Michael Noonan: As part of my Department’s Strategy for Financial Inclusion, a basic payment account (named the Standard Bank Account) was offered by three banks (AIB, Bank of Ireland and Permanent TSB) in three pilot locations (New Ross, Tallaght and Tullamore) during 2012. The Financial Inclusion Working Group, chaired by my Department, was tasked with governance of the project. The Standard Bank...

Written Answers — Department of Finance: Bond Redemption (18 Jul 2013)

Michael Noonan: I am advised by the Central Bank of Ireland that certain tracker bonds sold to a number of credit unions which were liabilities of Irish Bank Resolution Corporation (IBRC) at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme (DGS) for that element of the product. As a result the first €100,000 of any claim in such cases is...

Written Answers — Department of Finance: NAMA Portfolio Issues (18 Jul 2013)

Michael Noonan: In line with NAMA Board guidelines, NAMA requires that the sale of property assets by debtors and receivers is conducted by suitably qualified professional sales agents and that all such sales are openly marketed. NAMA advises that the appropriate sales and marketing strategy for all disposals is determined by reference to a range of factors, including asset class, location and the value of...

Written Answers — Department of Finance: Budget 2014 Issues (18 Jul 2013)

Michael Noonan: As the Deputy will be aware, it is the standard practice for the Minister for Finance to review all tax expenditures and reliefs in the run up to annual Budget. It is also a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: Tax Code (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 72 and 114 together. I am informed by the Revenue Commissioners that probate on wills is not subject to Stamp Duty. To estimate the potential yield from a Stamp Duty on probate, one would need to identify the value of all estates in probate, which is not possible from the data available at present. I am advised by my colleague, the Minister for Justice...

Written Answers — Department of Finance: Tax Code (18 Jul 2013)

Michael Noonan: The position is that the Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. Payments that are made under the Social Welfare Acts are and have always been specifically excluded from liability to USC. Accordingly, all...

Written Answers — Department of Finance: IBRC Liquidation (18 Jul 2013)

Michael Noonan: As indicated in my response of 9th July last I can confirm that there were 24 safety deposit boxes in use when the Special Liquidators were appointed to IBRC. The Special Liquidators are currently reconciling the safety deposit boxes to determine ownership. The operation and maintenance of the remaining safety deposit boxes in IBRC are an operational matter for the Joint Special Liquidators...

Written Answers — Department of Finance: Banking Sector Issues (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 75 and 76 together. The operation of safety deposit boxes is an operational decision for the individual institutions. As the Deputy is aware, I have no statutory function in relation to operational decisions made by individual lending institutions at any particular time. These are ultimately commercial decisions for the management team and board of each...

Written Answers — Department of Finance: Central Bank of Ireland Issues (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 77 and 80 together. The operation and maintenance of secure vaults is a matter for the Central Bank. For security reasons the Central Bank does not provide any details regarding the content or location of vaults. Gold receivables and gold for coin stocks are held by the Central Bank of Ireland; gold bars are held on behalf of the Central Bank of Ireland at...

Written Answers — Department of Finance: Property Transfers (18 Jul 2013)

Michael Noonan: I refer the Deputy to the previous responses of my colleague Minister Deenihan, who has had discussions with the Bank on this matter. In the context of these discussions, communications took place between his officials and mine and the subject may have come up in communicating with the Bank. However, no formal discussions took place between my Department and the Bank on the issue....

Written Answers — Department of Finance: Central Bank of Ireland Properties (18 Jul 2013)

Michael Noonan: Under section 6B of the Central Bank Act 1942, the Central Bank Commission is responsible for administrating the provision of accommodation and the acquisition and disposal of land by the Central Bank. I have no role in the matter. I have been advised that it is the intention of the Central Bank to develop disposal proposals for the future use of its headquarters on Dame Street, Dublin. Due...

Written Answers — Department of Finance: Social Insurance Issues (18 Jul 2013)

Michael Noonan: I would first of all stress that the administration of the Social Insurance Fund (SIF) is already the responsibility of the Minister for Social Protection and has been since the SIF was established in 1952. I have no role in the day-to-day running of the SIF. While I have responsibility for the investment account of the SIF, the fund has been in receipt of Exchequer subvention in recent...