Results 12,501-12,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Policy (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 82, 88, 92 and 94 together. The latest data from the Quarterly National Accounts show that real GDP increased by 0.4 per cent in the second quarter of this year. More high frequency data have also been encouraging and suggest a continuation of the positive momentum into the third quarter. In particular, I would point to signs of a modest recovery in domestic...

Written Answers — Department of Finance: Mortgage Arrears Proposals (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 83, 89 and 93 together. The Government's strategy to assist those in mortgage difficulty is built around measures in four distinct areas - Personal Insolvency, a Mortgage Advisory Service, the Mortgage to Rent Scheme, and Engagement with the Banks, and considerable progress has now been achieved across this agenda. The implementation of sustainable...

Written Answers — Department of Finance: Credit Availability (3 Oct 2013)

Michael Noonan: I assume the Deputy is referring to the extent to which SMEs seeking credit have been accommodated by their banks. As the Deputy is aware, the Government recognises that SMEs are the lifeblood of the economy and will play a vital role in the recovery of employment growth in our country. One of the key priorities of the Programme for Government is to ensure that an adequate pool of credit is...

Written Answers — Department of Finance: Credit Availability (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 85, 86 and 91 together. Access to finance for SMEs is a key aspect of the Action Plan for Jobs 2013. It is the Government’s vision that all viable businesses operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the economy. The working capital...

Written Answers — Department of Finance: Economic Growth Initiatives (3 Oct 2013)

Michael Noonan: The Government has put a priority on getting people back to work and the recent labour market figures are very positive in this regard. The Quarterly National Household Survey results for the second quarter of this year showed the strongest job creation since 2008. Encouragingly this growth consisted of both full and part-time employment and was broad based across the different sectors of...

Written Answers — Department of Finance: Economic Data (3 Oct 2013)

Michael Noonan: The improvements in economic conditions in Ireland over the past five years have been considerable and, although we still have some way to go, the achievements to date should not be forgotten. Having contracted for three successive years from 2008 to 2010, the economy recorded a second successive year of growth in 2012. This recovery has been driven by strong export growth over the period,...

Written Answers — Department of Finance: Economic Policy (3 Oct 2013)

Michael Noonan: I assume that the Deputy is referring to the preparation by the Government of a Medium Term Economic Strategy (MTES) for the period 2014 to 2020. The MTES is being developed jointly by the Departments of Finance and Public Expenditure & Reform in conjunction with other relevant Departments and will establish the macroeconomic strategy and policy actions for achieving sustainable...

Leaders' Questions (8 Oct 2013)

Michael Noonan: Deputy Martin's party has had 14 years.

Leaders' Questions (8 Oct 2013)

Michael Noonan: Deputy Martin set up three committees, or was it six committees?

Written Answers — Department of Finance: NAMA Portfolio Issues (8 Oct 2013)

Michael Noonan: NAMA advises me, that as the Deputy will be aware, NAMA has acquired loans and does not own or control properties securing these loans. These properties are controlled by NAMA's debtors or, in the case of enforcement, on their behalf by duly appointed Receivers. NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors...

Written Answers — Department of Finance: Pensions Levy Issues (8 Oct 2013)

Michael Noonan: I take it that the question is referring to the stamp duty levy of 0.6% on pension scheme assets that was introduced in 2011 for the four year period up to and including 2014. The levy applies to the market value, on the valuation date (generally 30 June each year), of assets under management in pension funds and pension plans approved under Irish tax legislation. Payment of the levy must be...

Written Answers — Department of Finance: Pensions Levy Yield (8 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that receipts to date from the temporary 0.6% stamp duty levy on pension fund assets introduced in the Finance (No. 2) Act 2011 amounted to €463 million in 2011 and €483 million in 2012. The yield in 2013 to end September was €512 million. The deadline date for payment of the levy for 2013 was 25 September 2013. It is not...

Written Answers — Department of Finance: Revenue Commissioners Powers (8 Oct 2013)

Michael Noonan: Firstly, the Deputy will be aware that the debt collection environment continues to be very challenging for Revenue given the ongoing difficult financial environment. In that regard I am assured that Revenue is very conscious of the challenges that exist for some taxpayers in meeting their tax obligations in a timely manner. Its debt management caseworkers will always seek to work proactively...

Written Answers — Department of Finance: Property Taxation Data (8 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 141 and 142 together. I am advised by the Revenue Commissioners that compliance data for the Local Property Tax (LPT) are compiled on the basis of the numbers of properties, and are broken down by City and County Councils nationally. The most up to date figures, including the percentage of properties for which exemptions and deferrals were claimed, are...

Written Answers — Department of Finance: NAMA Portfolio Issues (8 Oct 2013)

Michael Noonan: NAMA advises me that, as the Deputy will be aware, NAMA has acquired loans and is not the owner of properties. The Agency’s role is that of a secured lender and NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors and their properties. NAMA advises that individuals and groups who have an interest in a...

Written Answers — Department of Finance: IBRC Liquidation (8 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 144 to 146, inclusive, together. I have been advised by the Special Liquidators that all contractual arrangements entered into by Irish Bank Resolution Corporation Limited prior to the appointment of the Special Liquidators remain in place and all debts owing to IBRC Limited (in Special Liquidation) remain due and enforceable. The Special Liquidators confirm...

Written Answers — Department of Finance: Tax Reliefs Availability (8 Oct 2013)

Michael Noonan: Preparations for Budget 2014 and the consequent Finance Bill are ongoing. It would not be appropriate for me to comment on what changes, if any, may be introduced in capital gains tax or other taxes. I will, however, bear in mind the Deputy’s suggestion in my preparations for the Budget.

Written Answers — Department of Finance: VAT Payments (8 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that online sales of goods and services to private individuals by Irish-based sellers are liable to Irish VAT and that the seller must account for the VAT on his/her VAT return. However, where an Irish-based supplier sells goods to private customers in other EU Member States, and the value of supplies to a particular Member State exceeds the relevant...

Written Answers — Department of Finance: Tax Yield (8 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer, based on the expected outturn in 2014, from increasing the CGT tax rate from 33% to 35% could be in the region of €28 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant behavioural...

Written Answers — Department of Finance: Tax Yield (8 Oct 2013)

Michael Noonan: I am informed by the Revenue Commissioners that, on the basis of Domicile Levy returns filed for 2011, the latest year available, the full year yield on a straightforward arithmetic basis of an increase in the levy from €200,000 to €300,000 could be in the region of €1.5 million. I am also informed that, based on claims for the Income Tax credit in excess of...