Results 1,381-1,400 of 27,019 for speaker:Michael Noonan

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: As announced last week, the recent bid for EBS did not represent good value for the State as the shareholder and the sale of EBS has been discontinued. The intention, with the consent of the European Commission, is to merge the operations of AIB and EBS to build a second pillar bank using the strengths of both institutions.

Written Answers — Tax Yield: Tax Yield (5 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 82 and 92 together. The Universal Social Charge (USC) is a tax which replaces the income and health levies. It is intended to broaden the tax base in an equitable manner and applies to approximately 500,000 more income earners than the income and health levies. USC receipts will be collected under the income tax sub-head. The Budget 2011 projections for...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: As I stated in the Dáil last week, a new bank will be created from Bank of Ireland which will be smaller, more focused on core operations, better funded and better capitalised and more focused on serving the economy of the island of Ireland. The bank will split into separately managed non-core and core divisions and will begin to shed €30 billion of assets by 2013. It will become a...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: I stated in my statement of 31 March 2011, to the Dáil on banking matters, that the banking system must be the enabler of economic recovery by restoring public and market confidence in its financial health, management competence and ethical integrity. Consequent upon the results of the banks stress testing and to achieve the above objective, the Government has decided to reduce the number...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: I stated in my announcement of 31 March 2011, to the Dáil on banking matters, that the banking system must be the enabler of economic recovery by restoring public and market confidence in its financial health, management competence and ethical integrity. The Government has decided to reduce the number of domestic banks by creating two new strong universal Pillar banks which will be fully...

Written Answers — Bank Guarantee Scheme: Bank Guarantee Scheme (5 Apr 2011)

Michael Noonan: The sum of €760,467,567.60 was paid into the Exchequer on 28 October 2010 in respect of all fees and interest accumulated under Credit Institutions (Financial Support) Scheme which terminated on 29 September 2010. The Eligible Liabilities Guarantee Scheme 2009 (ELG) came into effect on 9th December 2010. The sum of €572,878,664.46 was also paid into the Exchequer on 28 October 2010 in...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (5 Apr 2011)

Michael Noonan: State Savings is the brand name used by the National Treasury Management Agency (NTMA) for the range of savings products offered by the NTMA to personal savers. I understand from the NTMA that, at end-March 2011, the amount being saved in State Savings products was €13.4 billion. This is held in the various savings products as set out in the table. € million Prize Bonds 1,392 3-year...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: The legal position is that in the absence of a subordination agreement, where a financial institution is being wound up the principle that applies is pari passu, meaning all unsecured creditors have equal ranking to be repaid by the financial institution. So, where there is a shortfall in assets all unsecured creditors are entitled to an equal dividend. The principle of creditor equality is...

Written Answers — State Savings Products: State Savings Products (5 Apr 2011)

Michael Noonan: The 10-year National Solidarity Bond was launched 11 months ago on 1 May 2010 and the 4-year Bond was launched 2 months ago on 1 February 2011. The Solidarity Bonds are part of the range of State Savings products offered by the National Treasury Management Agency (NTMA) to personal savers. I understand from the NTMA that the uptake on both bonds has been strong and that the total amount...

Written Answers — Tax Code: Tax Code (5 Apr 2011)

Michael Noonan: The section in the Finance Act 2010 that provides for application of the carbon tax to solid fuels (coal and commercial peat) is subject to a Ministerial Commencement Order. This approach was primarily adopted in order to allow time for a robust mechanism to be put in place to improve the control of high sulphur coal being sourced from Northern Ireland suppliers. The Department of...

Written Answers — Proposed Legislation: Proposed Legislation (5 Apr 2011)

Michael Noonan: The position is that legislation to provide the same tax treatment for civil partners as that provided for spouses is currently in preparation. It is intended that the legislation will have effect for the tax year 2011 and subsequent years. As the Deputy is aware the shortened timescale for this year's Finance Act meant that it was not possible to include the legislation in that Act but it...

Written Answers — Departmental Staff: Departmental Staff (5 Apr 2011)

Michael Noonan: I am informed by the Public Appointments Service (PAS) that the most recent competition to fill Temporary Clerical positions in the civil service was advertised by the PAS in February 2011. The competition was announced on 24th February 2011 and closed on 2nd March 2011. In excess of 13,500 applications were received. A selection process to put in place panels to fill temporary clerical...

Written Answers — Proposed Legislation: Proposed Legislation (5 Apr 2011)

Michael Noonan: The Deputy will be aware that the Construction Contracts Bill which was introduced by Senator Feargal Quinn passed Committee and remaining stages in the Seanad on 8 March. I understand that the Seanad debate highlighted a number of matters relating to the Bill that require further consideration. It would also be imperative that the full regulatory impact of such a piece of legislation be...

Written Answers — Public Sector Pay: Public Sector Pay (5 Apr 2011)

Michael Noonan: The Financial Emergency Measures in the Public Interest (No 2) Act 2009 provides for the reduction in the pay rates of all persons employed by public service bodies with effect from 1 January 2010. Such reductions apply irrespective of whether a particular post is funded in whole or in part through non-Exchequer funds or income. The school secretaries (and other non-teaching staff) referred...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: I have been informed by the Central Bank that issues such as the process in place in respect of the setting of interest rates are usually covered in the terms and conditions applying to a particular mortgage. The Consumer Protection Code, issued by the Central Bank, requires that a regulated entity must provide each consumer with the terms and conditions attaching to a product or service,...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: The Solicitors (Professional Practice, Conduct and Discipline (Commercial Property Transactions) Regulations 2010 prohibits the provision of certain undertakings by solicitors in relation to commercial property transactions but this prohibition does not apply where the liability is less that €75,000. These regulations followed much publicised difficulties in relation to undertakings...

Written Answers — Financial Services Regulation: Financial Services Regulation (5 Apr 2011)

Michael Noonan: While the Minister is the holder of special investment shares in Irish Nationwide Building Society, the Society remains an independent entity and the Minister's intervention in the conduct of the Society's business is limited to that necessary to protect the public interest. Therefore, subject to that overall framework, the Society's board and management retains responsibility for the...

Written Answers — Personal Debt: Personal Debt (5 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 101, 103 and 104 together. As agreed in the Programme for National Recovery 2011 to 2016, the Government will examine a number of proposals aimed at helping mortgage-holders in difficulty. These will include: · Increasing mortgage interest relief to 30% for First Time Buyers in 2004-2008 (from the current sliding scale of 20% to 25% depending on the year the...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (5 Apr 2011)

Michael Noonan: I stated in my announcement of 31 March 2011, to the Dáil on banking matters, that the banking system must be the enabler of economic recovery by restoring public and market confidence in its financial health, management competence and ethical integrity. The Prudential Capital Assessment Review (PCAR) and Prudential Liquidity Assessment Review (PLAR) examinations undertaken by the Central...

Written Answers — Departmental: Departmental (5 Apr 2011)

Michael Noonan: The whole time equivalent staffing level within the civil service at each grade from Assistant Secretary to Clerical officer in January 1998, 2008, 2011 is set out in the table. Main General Service Grades January 1998 January 2008 January 2011 Assistant Secretary 94.00 146.60 134.00 PO Total 351.00 749.75 645.90 AP Total 1,036.50 2,050.36 1,888.35 HEO Total 2,032.50 3,284.45...