Results 1,681-1,700 of 27,019 for speaker:Michael Noonan

Written Answers — Insurance Industry: Insurance Industry (5 May 2011)

Michael Noonan: As there is no change in the position I set out in my response to Deputy Ó Caoláin (Question No. 41) on Tuesday last, 3 May 2011, the position remains the same. The Joint Administrators announced last week the acquisition by Liberty Mutual Direct Insurance Company Ltd (LMDI), a joint venture between Liberty Mutual (LM) and Anglo Irish Bank, of certain assets and liabilities of Quinn...

Written Answers — Illicit Trade in Tobacco: Illicit Trade in Tobacco (5 May 2011)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the illicit trade in cigarettes and tobacco products that a survey commissioned by Revenue and the Office of Tobacco Control in 2009 estimated that 20% of cigarettes consumed in the State had not been taxed in this jurisdiction. The 20% figure was further broken down as...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: It is just under nine weeks since the new Government assumed office, having obtained a secure and stable mandate from the people. We have agreed a programme for Government, motivated by a clear vision of an Ireland that, by the end of our term in office, will be recognised as a modern, fair, socially inclusive and equal society, supported by a productive and prosperous economy. As indicated...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: To be clear, the commencement of this measure is subject to an agreement being reached with the airlines to bring in additional passenger numbers. The Minister for Transport, Tourism and Sport is holding discussions in that regard. Furthermore, as with the targeted VAT reductions, a review of this measure will be conducted before the end of 2012 to evaluate its success in bringing in...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: The notable under-performance of tourism over the past few years highlights the need to improve the sector's cost competitiveness, an objective that the measures I have announced will help to advance. A set of costs that are especially important to tourism and other employment-rich areas of the economy are labour costs. One way to help job creation and improve our labour cost...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: This will be done through legislation to be introduced by my colleague, the Minister for Social Protection, Deputy Joan Burton. The existing employer job, PRSI, incentive scheme will remain in place until the end of this year so that enterprises and businesses that had planned to take on staff under this scheme in that period may continue to do so. As set out in the programme for Government,...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: Thank you, a Cheann Comhairle. I will be able to slow down now.

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: I will move on to initiatives relating to public capital projects. Public capital investment can play an important role, both in promoting employment and in addressing worthwhile, visible and pressing infrastructure needs throughout the country. Despite our current circumstances, we will continue to invest in such worthwhile and necessary projects, with the considerable sum of €4.6...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: The cost of these measures will be met by re-allocations from elsewhere within the capital allocations of the relevant Departments and from some of the proceeds of a new levy, the details of which I will set out shortly. Delivering and maintaining necessary schools is one of the priorities of Government over the next five years. We will continue to invest heavily in our schools. An educated...

Jobs Initiative 2011: Statements (10 May 2011)

Michael Noonan: I have no vested interest in it.

Written Answers — Legislative Programme: Legislative Programme (10 May 2011)

Michael Noonan: The Deputy will be aware that the Construction Contracts Bill 2010 was introduced by Senator Feargal Quinn and passed Committee and Remaining Stages in the Seanad on 8 March 2011. It is now placed before the Dáil. In relation to the exemption of contracts below €200,000 from the Construction Contracts Bill 2010, I understand that the Senator pointed out in the Seanad that this threshold...

Written Answers — Tax Code: Tax Code (10 May 2011)

Michael Noonan: The position is that all Department of Social Protection payments are exempt from the Universal Social Charge (USC). As the individual in question is aged greater than 70 the following rates are applicable to his private pension: - 2% up to €10,036 - 4% income above €10,036 It is assumed that the person in question does not have income from self-employment in excess of €100,000. In...

Written Answers — Insurance Industry: Insurance Industry (10 May 2011)

Michael Noonan: The Central Bank's Consumer Protection Code requires that a regulated entity must ensure that, in all its dealings with customers and within the context of its authorisation, it acts honestly, fairly and professionally, in the best interests of its customers the integrity of the market, and acts with due skill, care and diligence in the best interests of its customers. Any breach of the...

Written Answers — Tax Relief: Tax Relief (10 May 2011)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled...

Written Answers — Tax Relief: Tax Relief (10 May 2011)

Michael Noonan: There is a commitment in the Programme for Government to help homeowners in distress to weather the recession. One of these proposals relates to increasing mortgage interest relief to 30% for First Time Buyers who bought between 2004 and 2008 and to finance this in part by abolishing mortgage interest relief for new buyers from June 2011. When this proposal has been thoroughly examined and...

Written Answers — Tax Relief: Tax Relief (10 May 2011)

Michael Noonan: The Biofuel (Mineral Oil Tax) Relief scheme that was operated by the Department of Communications, Energy and Natural Resources provided for excise relief for 16 companies selected by means of an open competitive process. The scheme ran for around five years and ended on 31 December 2010. Consequently, with effect from 1 January 2011, all biofuels, including E85, are subject to full mineral...

Written Answers — Sports Grants: Sports Grants (10 May 2011)

Michael Noonan: I am advised by the Revenue Commissioners that there are two instruments in this particular case and, as is standard practice in cases of this type, the stamp duty liabilities on both instruments were subject to the adjudication process. This process has been completed and the Commissioners have stamped one instrument and will be in a position to stamp the other instrument on receipt of a...

Written Answers — Insurance Industry: Insurance Industry (10 May 2011)

Michael Noonan: In order to protect policy holders in the event of their insurer becoming insolvent, money can be raised by the Central Bank through the placing of a levy of up to 2% of an insurance company's aggregate income under Section 6 of the 1964 Insurance Act. A levy of 2% of gross premium income was introduced on 1 January 1984 following the collapse of PMPA in October of the preceding year. The...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (10 May 2011)

Michael Noonan: I propose to take Questions Nos. 89 and 93 together. The Deputy will appreciate that there would be serious obstacles to be addressed to allow for publication of the individual details of the contracts of employment of senior management in financial institutions of the covered institutions and I am not convinced that this would serve, at this stage, the public interest. The Deputy will also...

Written Answers — Tax Code: Tax Code (10 May 2011)

Michael Noonan: I am advised by the Revenue Commissioners that, under section 1041 of the Taxes Consolidation Act 1997, a tenant who pays rent on property located in the State directly to a person whose usual place of abode is outside the State and who has not appointed an agent in the State to collect the rent, is required to deduct tax from the gross rent at the standard rate of income tax, which is...