Results 16,281-16,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Mortgage Loan Book (9 Jul 2014)

Michael Noonan: I am advised by the Special Liquidators that they are in the process of devising and implementing a further sales process in respect of the unsold residential mortgage assets. The Special Liquidators are legally obliged to oversee the liquidation of IBRC for the benefit of all creditors of the bank including the State. As such I am not in a position to interfere in the...

Written Answers — Department of Finance: Property Taxation Administration (9 Jul 2014)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) sets out how the tax is to be administered and how a residential property is to be valued for Local Property Tax (LPT) purposes. LPT is a self-assessed tax and it is a matter for the property owner to calculate the tax due based on his or her assessment of the chargeable value of the property. The chargeable value is defined in the 2012...

Written Answers — Department of Finance: Tax Code (9 Jul 2014)

Michael Noonan: Where a professional service is provided to accountable persons, which in the main include State and Semi-State bodies, these persons are required to deduct from the payments made appropriate tax which is a sum representing income tax at the standard rate in force at the time of payment. This tax is known as Professional Services Withholding Tax (PSWT). I note the Deputy wishes to exempt...

Written Answers — Department of Finance: VAT Rate Application (9 Jul 2014)

Michael Noonan: The introduction and retention of the reduced VAT rate of 9% on tourism related activity, including restaurant services and hotel accommodation was a significant policy measure undertaken by the Government to create and retain jobs in the tourism sector. Tourism is a key sector in the Irish Economy and the VAT reduction measure was aimed at reducing costs during a very challenging time...

Written Answers — Department of Finance: Mortgage Protection Policies (9 Jul 2014)

Michael Noonan: I, as Minister for Finance, have no statutory role in relation to the issue raised by the Deputy. However, the Central Bank has advised me that section 126 of the Consumer Credit Act 1995 (as amended) relates to the requirements on lenders and borrowers in relation to mortgage protection insurance. Section 126(2) of the Act sets out the circumstances in which a lender may waive the...

Written Answers — Department of Finance: Insurance Industry (9 Jul 2014)

Michael Noonan: Setanta is a Maltese incorporated company which was both authorised and prudentially supervised by the Malta Financial Services Authority (MFSA). The Central Bank is in contact with the MFSA in relation to Setanta Insurance Company Limited, the impact on policyholders and the provision for relevant and appropriate information. The current legal and regulatory framework...

Written Answers — Department of Finance: Departmental Staff Data (9 Jul 2014)

Michael Noonan: There are currently six civil service employees who are on temporary contracts or other non-permanent contracts of employment in my Department.

Written Answers — Department of Finance: Appointments to State Boards (9 Jul 2014)

Michael Noonan: In response to the Deputy's question all appointments made to boards of bodies under the aegis of my Department are made on the basis of qualifications and suitability to carry out the tasks required as a sitting board member. Details of the number of appointments or re-appointments made to boards under the aegis of my Department since March 2011 are contained in following table. Name of...

Written Answers — Department of Finance: State Bodies Data (9 Jul 2014)

Michael Noonan: In response to the Deputy's question there are no commercial State companies under the aegis of my Department.

Written Answers — Department of Finance: State Bodies Data (9 Jul 2014)

Michael Noonan: The information requested by the Deputy is as follows. In 2013 the Chief Executives of the National Treasury Management Agency (NTMA), the National Development Finance Agency (NDFA) and the National Asset Management Agency (NAMA) received the salaries set out in the following table. Name of Body Salary NTMA €416,500 NDFA €297,000 NAMA €365,500 The remuneration...

Written Answers — Department of Finance: State Bodies Data (9 Jul 2014)

Michael Noonan: The information requested by the Deputy is contained in the following table: List of non-commercial State sponsored Bodies Name of Body National Treasury Management Agency National Pensions Reserve Fund Commission National Development Finance Agency National Asset Management Agency Credit Union Restructuring Board (ReBo) Financial Services Ombudsman Bureau In addition the New...

Committee of Public Accounts of Dáil Éireann (Compellability of Witnesses) Bill 2014: First Stage (10 Jul 2014)

Michael Noonan: No.

Protection of Young Persons (Employment) Regulations: Motion (10 Jul 2014)

Michael Noonan: I move:That Dáil Éireann approves the following Regulations in draft:Protection of Young Persons (Employment) (Exclusion of Workers in the Fishing and Shipping Sectors) Regulations 2014,a copy of which has been laid in draft form before Dáil Éireann on 9th June 2014.”

Strategic Banking Corporation of Ireland Bill 2014: Second Stage (Resumed) (10 Jul 2014)

Michael Noonan: The establishment of the Strategic Banking Corporation of Ireland, SBCI, by increasing the availability of longer term flexible debt finance which is appropriately priced will provide SMEs with access to the type of patient intelligent capital that will increase productive investment, encourage growth and generate additional employment opportunities. In this context, the SBCI will be...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: There is a lot of food for thought in all of the contributions that have been made. I want to say, first, that I am not in a position to accept the proposed amendments because they are beyond the scope of the Long Title of the Bill and, as a consequence, I cannot incorporate them in the Bill. Many of the contributions that have been made are very interesting but, effectively, they are a...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: I have discussed the issue fully. While one could agree with the sentiments expressed by the Deputy, this legislation is not the appropriate vehicle for the amendments. They are beyond the scope of the Long Title. The Bill mandates the company in due course to expand into other areas and it does not exclude a social or environmental mandate. We will see how it progresses.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: If we do not run out of time.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: While I welcome the amendment moved by Deputy Boyd Barrett, the matter has been considered at length by the team involved in the establishment of the SPCI. As initiated, the Bill expresses the optimal structure for the SPCI, which will be established as a company incorporated under the Companies Acts rather than as a statutory or public company. A Companies Acts company is more transparent...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: It is always worth remembering that anything enacted by the House can be changed by a future Dáil. Therefore, no matter how a provision is couched or included in legislation, it can change. If, for example, we include a provision that the Minister for Finance will never dispose of the company, in a year's time the Minister for Finance could come in with amending legislation that would...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: As a number of Deputies have pointed out, we are dealing here with a wholesale model. The SBCI's business model is based primarily on the on-lending model which has been operated successfully by Germany's promotional bank, KfW, and Spain's state investment bank, Instituto de Crédito Oficial, ICO. The SBCI is being set up initially as a wholesale funder which will work with various...