Results 16,341-16,360 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Government Deficit (10 Jul 2014)

Michael Noonan: The most recent data in relation to the general government balance figures for the periods 2010-2014 and 2013-2018 are available in the 'March 2014 EDP' publication (available on the CSO and Eurostat websites) and the April 2014 'Stability Programme Update' publication respectively. As per the deputy's query the headline and underlying balance figures (under an ESA 95 basis) in relation to...

Written Answers — Department of Finance: State Banking Sector (10 Jul 2014)

Michael Noonan: I can confirm for the Deputy the following in relation to the current valuation of the State's remaining investments in AIB, Bank of Ireland and Permanent tsb.   Bank Investment Valuation Source Allied Irish Banks Equity €6.5bn NPRF (end 2013) - Preference Shares €3.5bn NPRF (end 2013) - Contingent capital (CoCo) €1.6bn Par redemption value Bank of...

Nomination of Members of the Government: Motion (11 Jul 2014)

Michael Noonan: It is no wonder Brian Crowley left.

Nomination of Members of the Government: Motion (11 Jul 2014)

Michael Noonan: Not a word yet about the future.

Nomination of Members of the Government: Motion (11 Jul 2014)

Michael Noonan: The Deputy has been speaking for 20 minutes and has not said a word about the future.

Written Answers — Department of Finance: Illicit Trade in Tobacco (15 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners, who have responsibility for the collection of tobacco products tax and for tackling illegal activity in the tobacco trade, that they are very aware of the threat that shadow economy activity poses.  Revenue collects some €1 billion annually in tobacco products tax so protection of this tax and tackling fraudulent activity will continue to...

Written Answers — Department of Finance: VAT Exemptions (15 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 160 and 249 together. With regard to reducing the costs involved in a home owner being made bankrupt, I have been informed by my colleague, the Minister for Justice and Equality, that fees charged in the courts are set by means of Statutory Instrument. Court fees orders are made by the Minister for Justice and Equality with the consent of the Minister for...

Written Answers — Department of Finance: Flood Risk Insurance Cover (15 Jul 2014)

Michael Noonan: I am very much aware of the difficulties that the absence of flood insurance cover can cause to householders and businesses. However, neither I nor the Central Bank of Ireland, have the power to direct insurance companies to provide flood cover to specific individuals. The provision of new flood cover or the renewal of existing flood cover is a commercial...

Written Answers — Department of Finance: Banking Sector (15 Jul 2014)

Michael Noonan: As you are aware, the ELG Scheme closed for new liabilities at midnight on the 28thMarch 2013. Eligible liabilities covered under the Scheme which were incurred up to midnight on the 28thMarch 2013 continue to be covered up to their maturity date which could be up to 5 years maximum from the date the liability was incurred. This means that covered liabilities will wind down over the period...

Written Answers — Department of Finance: Eligible Liabilities Guarantee (15 Jul 2014)

Michael Noonan: At the date of ending the Scheme for new liabilities (midnight 28th March 2013), ELG covered liabilities stood at c. €74.6 billion. The most up-to-date information available at 30th April 2014 illustrates that ELG covered liabilities have fallen following the run-off of maturing deposits and bonds to c. €16.3 billion a reduction of c. €58...

Written Answers — Department of Finance: Banks Recapitalisation (15 Jul 2014)

Michael Noonan: I can confirm to the Deputy that, since the State first invested in the banks, the following disposals have been made: Date of disposal Bank Transaction Total proceeds - including accrued interest/dividend April 2010 Bank of Ireland Cancellation of preference share warrants €491m December 2010 Allied Irish Banks Cancellation of preference share warrants €53m* ...

Written Answers — Department of Finance: Insurance Industry (15 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 165, 175 and 258 together. My officials have been in discussions with the Central Bank of Ireland, with the Liquidator of Setanta Insurance Company Limited (Setanta), the Accountant of the High Court and with the insurance industry representative bodies with regard to the position of Setanta policyholders.  We are endeavouring to obtain legal...

Written Answers — Department of Finance: IBRC Bond Issues (15 Jul 2014)

Michael Noonan: Subsequent to the liquidation of IBRC the Central Bank acquired €25bn of Floating Rate Notes (FRNs) and €3.46bn of Government Fixed Coupon 2025 bonds.  The Bank undertook to sell the combined portfolio of the FRNs and the fixed rate bond as soon as possible provided the conditions of financial stability permit.  The Bank also indicated that, as a minimum, it will...

Written Answers — Department of Finance: Promissory Notes (15 Jul 2014)

Michael Noonan: Under the original Promissory Note arrangement, the Government was scheduled to make annual payments of €3.1 billion thereby putting significant upward pressure on the amounts to be funded from the market. Following a long period of negotiation the notes were replaced in February 2013 with a portfolio of Irish Government bonds which consists of three tranches of €2 billion...

Written Answers — Department of Finance: Credit Unions Regulation (15 Jul 2014)

Michael Noonan: The imposition of lending restrictions is the responsibility of the Registrar of Credit Unions, who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts to support the prudential soundness of individual credit unions, to maintain sector stability and to protect the savings of credit union members. As Minister for Finance, my...

Written Answers — Department of Finance: VAT Rate Application (15 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 169 and 173 together. VAT rates are governed by EU VAT law, with which Irish VAT law must comply. The EU VAT Directive generally provides that supplies of goods and services are chargeable to VAT at the standard rate but that lower rates are permitted in very limited circumstances.  Food products can only benefit from the zero rating in accordance with...

Written Answers — Department of Finance: Tax Yield (15 Jul 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2014 incomes, of increasing both standard rate and higher rates of Income Tax by 1, 2 and 3 percentage points would be approximately €660 million, €1,330 million and €2,000 million respectively.

Written Answers — Department of Finance: State Banking Sector (15 Jul 2014)

Michael Noonan: Based on replies I have received from the banks, I can confirm for the Deputy that the information he has requested in relation to the number and value of judgements secured against debtors is a matter of public record and the information is available in court records, including on the court service website.

Written Answers — Department of Finance: Tax Code (15 Jul 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that a PAYE Balancing Statement (P21) for 2013 issued to the person concerned dated 29 March 2014.  As no tax was deducted from the person's wages during 2013, no refund of income tax is due.  The amount of USC deducted is in accordance with the rates applying during 2013 and the information available to Revenue.   A further...

Written Answers — Department of Finance: Property Taxation Application (15 Jul 2014)

Michael Noonan: In accordance with the Finance (Local Property Tax) Act 2012 (as amended), the amount of Local Property Tax (LPT) due on a property is based on the valuation at 1 May 2013. The LPT regime is designed so that the initial valuation at 1 May 2013 will be valid up to and including 2016 and will not be affected by any increase in property prices during the period 2013 to 2016. The Deputy will be...