Results 15,781-15,800 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Insurance Industry Regulation (10 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 163, 164 and 188 together. At the outset, I would like to say that both I, as Minister for Finance, and the Government are concerned over the situation that arose with regard to the Irish policyholders of Setanta Insurance Company Limited (Setanta).  My Department and the Central Bank will be reviewing the circumstances relating to Setanta...

Written Answers — Department of Finance: Tax Collection (10 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 165, 190 and 191 together. I am advised by Revenue that in accordance with Section 851A of the Taxes Consolidation Act 1997, it is precluded from disclosing any information in regard to the tax affairs of any taxpayer or business on the grounds of taxpayer confidentiality.

Written Answers — Department of Finance: NAMA Property Rental (10 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 166, 184 and 185 together. A detailed breakdown of the property securing NAMA's remaining loans by region and by sector is outlined on page 42 of its Annual Report and Financial Statements for 2013, which is available on the Agency's website, .  In evidence to the Dáil Committee of Public Accounts on 29thMay, NAMA indicated that it has an interest as...

Written Answers — Department of Finance: NAMA Property Leases (10 Jun 2014)

Michael Noonan: I am advised that, the Board of NAMA has approved the recommendation of the Receiver to Ballymun Shopping Centre to sell its 53% share in the Shopping Centre to Dublin City Council, which holds the remaining 47% interest, for a consideration of €2.5m.  The price is supported by an open market valuation.

Written Answers — Department of Finance: NAMA Transactions (10 Jun 2014)

Michael Noonan: I refer the Deputy to page 21 of NAMA's Annual Report and Financial Statements for 2013, which is available on the Agency's website, .  NAMA has, as set out in its Annual Report, advanced €373m to date across six transactions, four of which relate to properties in the Republic of Ireland and two in the UK.  These loans are fully performing.

Written Answers — Department of Finance: NAMA Accounts (10 Jun 2014)

Michael Noonan: In line with the NAMA Act 2009 the Section 55 Report and Accounts for Quarter 4 2013, was received in my Department on the 31st of March 2014.  The Section 55 Report and Accounts for Quarter 4 2013 was laid before the House together with NAMA's 2013 Annual Report following the Government meeting on the 27th of May 2014. Both of these documents are available in the...

Written Answers — Department of Finance: NAMA Transactions (10 Jun 2014)

Michael Noonan: As set out in NAMA's Annual Report and Financial Statements for 2013, which is available on the Agency's website, , NAMA Vendor Finance was introduced in 2012 at a time when many potential investors were constrained by a lack of access to bank finance.  A number of market changes arising out of the improved landscape and increased activity in the Irish property market from 2013 suggest...

Written Answers — Department of Finance: IBRC Liquidation (10 Jun 2014)

Michael Noonan: Irish Bank Resolution Corporation (IBRC), which is owned by the State and is currently subject to a liquidation process has been seeking control of security relating to very substantial loans to companies which were owned and controlled by the Quinn family. The total value of this lending was approximately €2.8 billion. The Bank sought to enforce its security in April 2011 only to...

Written Answers — Department of Finance: NAMA Operations (10 Jun 2014)

Michael Noonan: I am advised that NAMA, in selecting a service provider to provide internal audit services, undertook an open competitive tender process.  The selection of the winning bid was a matter for the  NAMA Board.

Written Answers — Department of Finance: Insurance Industry (10 Jun 2014)

Michael Noonan: In 2010,  at the request of the Central Bank of Ireland, Joint Administrators were appointed by the High Court under the Insurance No. 2 Act 1983 to Quinn Insurance Limited (QIL) because of concerns about the solvency position of that firm.   To date, a total of €1,118m has been drawn down from the Insurance Compensation Fund by the Joint Administrators. The Joint...

Written Answers — Department of Finance: Insurance Industry (10 Jun 2014)

Michael Noonan: In July 2012 the Joint Administrators of Quinn Insurance Limited (QIL) informed the High Court that they were considering taking legal action for negligence against the former auditors of QIL, PricewaterhouseCoopers. The proceedings were admitted to the Commercial Court on 29 July 2013 and QIL provided its statement of claim to PricewaterhouseCoopers on 24thSeptember 2013.  The...

Written Answers — Department of Finance: Tax Collection Forecasts (10 Jun 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the full year cost to the Exchequer, estimated by reference to 2014 incomes, of decreasing the standard rate of Income Tax by 1 percentage point from 20% to 19%, would be approximately €453 million. These figures are estimated from the Revenue tax forecasting model, using actual data for the year 2011 adjusted as necessary for income,...

Written Answers — Department of Finance: Mortgage Resolution Processes (10 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 176 and 177 together. The strong view of the Government is that, in respect of co-operating borrowers under the Central Bank's 'Mortgage Arrears Resolution Process', repossession of a person's primary home should only be considered as a last resort and that every effort should be made to agree a sustainable arrangement as an alternative to loss of ownership....

Written Answers — Department of Finance: Hidden Economy Monitoring Group Meetings (10 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 178 and 179 together. I wish to inform the Deputy that the Hidden Economy Monitoring Group (HEMG) is a non-statutory multi-agency group (currently chaired by the Revenue Commissioners) comprising of business representative bodies (including the Construction Industry Federation), the Irish Congress of Trade Unions and the State agencies such as the Revenue...

Written Answers — Department of Finance: Construction Sector Strategy (10 Jun 2014)

Michael Noonan: The Government recently launched 'Construction 2020: A strategy for a renewed construction sector'. The purpose of the strategy is to underpin the future competitiveness of the country, ensuring that we continue to be well-positioned to attract the inward investment that has been so important to our economic development. The strategy includes the Government's desire for a return to...

Written Answers — Department of Finance: Tax Clearance Certificates (10 Jun 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they have not received a request for a tax clearance certificate from the person concerned. I have further been advised by the Revenue Commissioners that, having contacted the person concerned, they understand that a tax clearance certificate is required by him in relation to a local authority grant application. An application form...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (10 Jun 2014)

Michael Noonan: The National Treasury Management Agency (Amendment) Bill 2014, which is currently being debated by Dáil Éireann, will reorient the National Pensions Reserve Fund into the Ireland Strategic Investment Fund (ISIF), which will have a mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland.  This means the ISIF will have a...

Written Answers — Department of Finance: Ministerial Responsibilities (10 Jun 2014)

Michael Noonan: No order under the Ministers and Secretaries (Amendment)(No. 2) Act 1977 delegating functions to the Minister of State has been signed by me. However, following a Government decision of 18th October 2011, the Minister of State was assigned responsibility for International Tax Issues and Customs Reform. The senior civil servant with overall repsonsibility in the areas mentioned is the...

Written Answers — Department of Finance: Central Bank of Ireland (10 Jun 2014)

Michael Noonan: It has not been possible to obtain the information sought by the Deputy in the time available. However, it will be forwarded to the Deputy as soon as possible.

Written Answers — Department of Finance: Public Sector Staff (10 Jun 2014)

Michael Noonan: I have no role in relation to Section 14 (2) of the Public Service Management (Recruitment and Appointments) Act 2004.  The question of appointing an investigator is a matter for the Commission for Public Service Appointments However, as indicated in my reply to Parliamentary Question No. 49 of 28 May 2014, I am advised by the Revenue Commissioners that a full investigation has been...