Results 1,481-1,500 of 27,019 for speaker:Michael Noonan

Written Answers — Tax Collection: Tax Collection (19 Apr 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that a PAYE Balancing Statement P21 for the year 2010 has recently issued to the person concerned.

Written Answers — Fiscal Policy: Fiscal Policy (19 Apr 2011)

Michael Noonan: The latest published estimates of the structural deficit are presented in the table. These figures were compiled on the basis of economic and budgetary forecasts produced last autumn, and were published in graph format by my Department as an annex to the previous Government's national recovery plan. Table 1: Structural Balance, % of GDP 2006 2007 2008 2009 2010 2011 Headline GGB +3.0 +0.2...

Written Answers — Fiscal Policy: Fiscal Policy (19 Apr 2011)

Michael Noonan: In relation to State support for the banking sector, in 2009 the Exchequer funded a €4 billion capital injection into Anglo Irish Bank. In 2009 also, the National Pensions Reserve Fund (NPRF) provided for the separate €3.5 billion recapitalisations of Allied Irish Banks (AIB) and Bank of Ireland (€7.0 billion in total). The 2010 one per cent of GNP Exchequer contribution to the NPRF...

Written Answers — Ministerial Staff: Ministerial Staff (19 Apr 2011)

Michael Noonan: In my Department 4 people, detailed below, are assigned to work on constituency matters. 1 Personal Assistant 1 Executive Officer (EO) 2 Clerical Officers (CO) My colleague, the Minister for Public Expenditure and Reform also has 4 people, detailed below, assigned to work on constituency matters. 1 Personal Secretary 1 Personal Assistant 2 Clerical Officers (CO) Their roles require that they...

Written Answers — Appointments to State Boards: Appointments to State Boards (19 Apr 2011)

Michael Noonan: The Government has agreed that Departments will invite expressions of interest in vacancies on bodies under their aegis on their own websites.

Written Answers — Tax Code: Tax Code (19 Apr 2011)

Michael Noonan: The Government has committed in the Programme for Government, to lower the 13.5% reduced rate of VAT to 12% up to the end of 2013. It is estimated that a reduction of 1.5% in the reduced VAT rate with effect from 1 July 2011 would reduce Exchequer receipts for 2011 by €118m. The cost of reducing the rate to 12% in 2012, and in a full year, would be €353 million.

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: I would draw the Deputy's attention to the supportive statement issued by Governing Council of the ECB following the publication of the capital and liquidity assessments of the Irish banks on 31 March. The Council stated that the Eurosystem would continue to provide liquidity to banks in Ireland. In addition, the Council announced that it would accept securities under Irish Government...

Written Answers — Fiscal Policy: Fiscal Policy (19 Apr 2011)

Michael Noonan: I have noted that the IMF, in its most recent World Economic Outlook (WEO), has revised downwards its forecast for real GDP growth in Ireland to 0.5 per cent in 2011. I would point out, however, that there has been no change to the IMF's forecasts for 2012 and further out. It is normal that economic forecasts are reviewed from time to time as additional information becomes available....

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: The core pillar banks are expected to provide new lending in excess of €30 billion in the next 3 years. SME and new mortgage lending for these banks is expected to be in the range of €16-€20 billion over the 3 year period.

Written Answers — Mortgage Arrears: Mortgage Arrears (19 Apr 2011)

Michael Noonan: The Deputy will be aware that the Expert Group on Mortgage Arrears and Personal Debt produced two Reports, an Interim Report published in July 2010 and a Final Report published in November 2010. All of the Expert Group's recommendations are listed in Chapter 2 of the Final Report. They can be accessed at www.finance.gov.ie. Since the publication of the Reports, the Code of Conduct for...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: The bank stress testing exercise, the results of which were announced by the Central Bank of Ireland on 31 March last, did include a detailed review of loan files on an appropriate sampling basis. As the Deputy will be aware, the Financial Measures Programme ("FMP") announced on 31 March 2011 included an independent loan loss assessment exercise performed by BlackRock Solutions...

Written Answers — Mortgage Arrears: Mortgage Arrears (19 Apr 2011)

Michael Noonan: I note that the Chairman of AIB has said that they are internally examining a number of measures including intergenerational mortgages and partial write off of the mortgage where the bank takes an equity share in the house. However, AIB will require the approval of the Central Bank and the Government before any of these measures are brought into effect. In assessing the suitability of any...

Written Answers — Tax Collection: Tax Collection (19 Apr 2011)

Michael Noonan: I have been advised by the Revenue Commissioners that PAYE Balancing Statements (forms P21) for the years 2007 to 2010 will issue to the person concerned shortly. Additional information has been requested from the person concerned regarding their income for 2011. On receipt of this information a review will be carried out for 2011.

Written Answers — Tax Code: Tax Code (19 Apr 2011)

Michael Noonan: As there is no import duty applied to motor vehicles, I take the Deputy to mean the vehicle registration tax (VRT) payable on first registration of both new vehicles, and second hand vehicles which are imported into Ireland. I have no plans at present to immediately increase VRT.

Written Answers — Tax Collection: Tax Collection (19 Apr 2011)

Michael Noonan: As an individual's income tax contribution is based on a number of unique factors such as their taxable income and personal circumstances, it is not possible to state with absolute confidence the effect that a decrease in live register figures would have on the total labour taxes yield. Having said that, it is possible to make an estimate on the basis of reasonable, if somewhat stylised, set...

Written Answers — EU-IMF Fund: EU-IMF Fund (19 Apr 2011)

Michael Noonan: I propose to take Questions Nos. 93 and 94 together. The first drawdown of IMF funds under the Programme took place on 18 January 2011. The amount was SDR 5,012,425,200, equivalent to some €5.8 billion at the time of drawdown. All funds drawn from the IMF under the Programme will be repaid by a series of twelve equal semi-annual capital repayments, beginning 4.5 years after the drawdown...

Written Answers — Banks Recapitalisation: Banks Recapitalisation (19 Apr 2011)

Michael Noonan: Detailed discussions on all aspects of these proposals – e.g. voluntary, compulsory, terms and conditions, duration, level, etc – will have to be undertaken with all relevant parties. The Government will treat all stakeholders, including the taxpayer, with respect and consideration in these discussions. However it is not possible to be precise on the details or timing at this stage....

Written Answers — Pension Provisions: Pension Provisions (19 Apr 2011)

Michael Noonan: The Statutory Instrument under the Social Welfare and Pensions Act 2009 giving effect to the Pensions Insolvency Payment Scheme (PIPS) was signed by the then Minister for Finance on the 18th January 2010 and came into operation from 1st February 2010. It is a pilot scheme and will be in operation for three years. I can confirm that an application to the Pension Insolvency Payment Scheme...

Written Answers — Mortgage Arrears: Mortgage Arrears (19 Apr 2011)

Michael Noonan: The Final Report of the Expert Group on Mortgage Arrears and Personal Debt contained the following recommendation: "The Group notes that, for some mortgage holders who are in negative equity, trading down would produce a reduction in mortgage debt and more affordable monthly payments. The Group recommends that further consideration should be given by lenders to facilitating trading down by...

Commission of Inquiry into Banking Sector: Statements (20 Apr 2011)

Michael Noonan: Yesterday was a sobering day for anyone interested in how a successful economy can, in parallel, develop the seeds of self-destruction, and how these seeds can take root, grow and develop and eventually create enormous havoc. This is the third year of the banking crisis and I come to the Dáil Chamber today in a sombre mood. How it all came to pass is the subject of the report we have before...