Results 13,061-13,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2013)

Michael Noonan: The Deputy appears to be suggesting that the increase in Stamp Duty proposed in the Health Insurance (Amendment) Bill 2013 will lead to an increase in policy charges, which in turn will mean that a portion of some policies will no longer qualify for tax relief, because of the restriction in tax relief on health insurance policies which I announced in Budget 2014. The Stamp Duty is part of...

Written Answers — Department of Finance: Tax Reliefs Eligibility (19 Nov 2013)

Michael Noonan: I have considered this matter carefully and I have decided at this time, not to extend the parameters of the scheme to include self-referral for physiotherapy. General practitioners act as an access and control point for the scheme of tax relief on health expenses, as all such expenses must be incurred on the advice or referral of a general practitioner. If physiotherapy was allowed...

Written Answers — Department of Finance: Banking Sector Staff Issues (19 Nov 2013)

Michael Noonan: The Deputy will be aware the Relationship Framework with the Allied Irish Banks provides that the State will not intervene in the day-to-day operations of the bank or their management decisions. This framework is published on the Department of Finance website. I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure the value of the bank as an asset...

Written Answers — Department of Finance: Excise Duties Yield (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the breakdown in excise returns by category for November 2013 is not yet available. The breakdown in excise by category and by month from January 2011 to October 2013 is as follows: 2011 Alcohol €m Tobacco €m Oils €m Carbon €m VRT €m Other Excise €m JAN 87.8 0.6 234.7 14.5 41.5 12.1 FEB 35.9 26.8...

Written Answers — Department of Finance: Banking Sector Issues (19 Nov 2013)

Michael Noonan: ACC Bank is a subsidiary of the Rabobank Group based in the Netherlands which has taken the commercial decision, as a private enterprise, to return ACC’s banking licence to the Central Bank. The Central Bank does not envisage that this will occur until the second half of 2014. As Minister for Finance, the issue of selling the bank does not arise because it is owned by Rabobank...

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

Michael Noonan: The Central Bank Mortgage Arrears Resolution Targets requires the main mortgage lenders to propose and conclude sustainable agreements with their mortgage customers who are in arrears of more than 90 days on their mortgage. The targets so far set require the relevant banks to propose sustainable solutions to - 20% of their mortgage customers who are in arrears of over 90 days by end June...

Written Answers — Department of Finance: Mortgage Resolution Processes (19 Nov 2013)

Michael Noonan: My Department is now publishing mortgage restructures and mortgage arrears data, on a monthly basis, in respect of the six institutions covered by the Central Bank Mortgage Arrears Resolution Targets (MART) process. The most recent published data is for the end of September and it shows that, in respect of those institutions, a permanent split mortgage restructure has been put in place for...

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

Michael Noonan: I am advised by the Revenue Commissioners that they are aware of the threat that illicit trade in this area causes both to the exchequer and to legitimate business. Sales of solid fuel, including coal, peat and chopped wood offered for sale as a fuel, are subject to VAT at a rate of 13½ %. Any person whose sales in a 12 month period exceed or are likely to exceed €75,000 is...

Written Answers — Department of Finance: Pension Provisions (19 Nov 2013)

Michael Noonan: I advised that Pension Schemes that were available to staff at Anglo Irish Bank included defined benefit schemes (which closed to new membership in 1994) and a defined contribution scheme. These schemes are funded schemes, and are operated by appointed trustees. The schemes are operated independently from the bank under distinct rules and legislation. Payments are not made from the Exchequer...

Written Answers — Department of Finance: Property Taxation Exemptions (19 Nov 2013)

Michael Noonan: I propose to take Questions Nos. 221 and 223 together. In accordance with the Finance (Local Property Tax) Act 2012 (as amended), liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which was 1 May 2013 for 2013 and for subsequent years is 1 November in the preceding year. Section 119 of the Act sets out the dates for payment...

Written Answers — Department of Finance: Tax Yield (19 Nov 2013)

Michael Noonan: I am informed by the Revenue Commissioners that as the information furnished on VAT returns does not require the yield for a particular sector or sub-sector of economic activity to be identified, the amount of VAT collected on hand held radios issued to drivers cannot be identified.

Written Answers — Department of Finance: Property Taxation Collection (19 Nov 2013)

Michael Noonan: I am advised by the Revenue Commissioners that compliance data for the Local Property Tax (LPT) for 2013 are only available broken down by city and county councils nationally and the most up to date figures are published on the Commissioners website at: . The Deputy will be aware that the Pay and File campaign for LPT 2014 is underway and this is Revenue’s current priority in...

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael Noonan: Very interesting. As the Deputy will be aware, the Government decided on 14 November that Ireland is now in the best position to exit the EU-IMF programme of financial assistance on 15 December without the need to prearrange a new precautionary credit line from our EU and IMF partners. Following a careful and thorough assessment of all of the available options, and various consultations...

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael Noonan: We never applied for a precautionary credit line; nor did I ask for one in my discussions. However, I gathered an amount of useful information as I talked to different people. There is a misunderstanding in Ireland, even at the highest levels of economic thinking, about OMT. I had a long conversation with Mario Draghi and his two deputy presidents in Frankfurt. OMT is not a policy for...

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael Noonan: I am not quoting him.

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael Noonan: I am recounting the narrative. According to Mr. Draghi and the other ECB officials, it is a policy device to deal with a systemic crisis across the eurozone. By definition, if that happens, several countries will need and get that assistance under certain conditions. Because there is conditionality, they would be in some kind of programme, so they would fulfil the precondition of being in...

Ceisteanna - Questions - Priority Questions: European Stability Mechanism (20 Nov 2013)

Michael Noonan: The Eurogroup agreed in June 2012 to break the vicious circle between banks and sovereigns, and that when a single supervisory mechanism involving the ECB was in place and operational the European Stability Mechanism could recapitalise banks directly. The Eurogroup meeting of 20 June 2013 agreed on the main features of the ESM's direct bank recapitalisation, DBR, instrument. There is a...

Ceisteanna - Questions - Priority Questions: European Stability Mechanism (20 Nov 2013)

Michael Noonan: It is a long process, and the question of whether banks will be recapitalised through the ESM is part of the process of moving towards banking union. The conclusions of the October 2013 European Council outline the hierarchy of decision-making for bank recapitalisation - to which the Deputy referred - and continue to provide for direct bank recapitalisation by the ESM as part of the process....

Ceisteanna - Questions - Priority Questions: European Stability Mechanism (20 Nov 2013)

Michael Noonan: The meetings of the Eurogroup and ECOFIN, like meetings in this House, are run in an orderly fashion. If these issues are on the agenda they are raised, but if not, we do not get up and shout and roar during discussion of another topic. On any occasion on which the issue of bank recapitalisation has been part of the agenda, I have raised the question of retroactive recapitalisation.

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation, including insurance. Day-to-day responsibility for the supervision of financial institutions is a matter for the Central Bank, which is statutorily independent in the exercise of its regulatory functions. The Central Bank of Ireland has had an ongoing programme...