Results 18,061-18,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector (11 Dec 2014)

Michael Noonan: As the Deputy will be aware, now that the bank has returned to profit, is on a stable path and has passed the ECB's Comprehensive Assessment, my officials intend to engage with the management team to explore how we can reconfigure the bank's capital structure to make it fit for purpose as the regulatory rules and expectations have changed dramatically in the past...

Written Answers — Department of Finance: National Pensions Reserve Fund Investments (11 Dec 2014)

Michael Noonan: Since 2009, the Minister for Finance has directed the NPRF Commission to invest €4.7bn in Bank of Ireland. Since the first investment was made, €4.2 billion of dividends and sale proceeds has been received from these investments; €1.3bn of the proceeds has been transferred to the NPRF Discretionary Portfolio (and will be available for investment by the Ireland Strategic...

Written Answers — Department of Finance: Pensions Levy (11 Dec 2014)

Michael Noonan: In Budget 2014 and in the Finance (No 2) Act 2013, I introduced an additional levy on pension funds at 0.15% for 2014 and 2015 to help fund the Jobs Initiative and to make provision for potential State liabilities emerging from pre-existing or future pension fund difficulties. The yield from the additional levy in these years forms part of general tax revenue of the Central Fund and is not...

Written Answers — Department of Finance: Betting Legislation (11 Dec 2014)

Michael Noonan: The Betting (Amendment) Bill 2013 provides the regulatory framework for remote betting operators and when enacted will allow for the taxation of remote operators thus levelling the playing field with traditional bookmakers. The Betting (Amendment) Bill 2013 has been the subject of a number of delays. The Bill was first published in July 2012 but further work was required around the area of...

Written Answers — Department of Finance: Tax Reliefs Cost (11 Dec 2014)

Michael Noonan: The capital gains tax relief introduced by Section 604A of the Taxes Consolidation Act 1997 (enacted in Finance Act 2012 and extended by Finance (No 2) Act 2013) with effect from 7 December 2011 to 31 December 2014 will have no cost, in terms of capital gains tax forgone, for a period of seven years from the time any properties to which the relief applies were acquired. Any such properties...

Written Answers — Department of Finance: Mortgage Schemes (11 Dec 2014)

Michael Noonan: The approval of the Department of Finance is not required in order to introduce a Mortgage to Rent Scheme (MTR).  All MTR operators are bound by the existing Mortgage to Rent Scheme, which was introduced by the Minister for the Environment, Community and Local Government, in response to a recommendation in the Keane Report of 2011. The Housing Agency, which administers...

Written Answers — Department of Finance: Ministerial Correspondence (16 Dec 2014)

Michael Noonan: At the outset I should say that the Government has introduced a comprehensive Strategy to address the problem of mortgage arrears based on recommendations stemming from the Interdepartmental working group on Mortgage arrears (The Keane Report) encompassing the following 1.personal insolvency reform, 2.the introduction of an advice and guidance service for those experiencing...

Written Answers — Department of Finance: Tobacco Smuggling (16 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 186 to 188, inclusive, and 199 to 201, inclusive, together. I am advised by the Revenue Commissioners that the quantities of illicit cigarettes and other tobacco products seized in each of the years 2009 to 2013 and in 2014 to the end of October, and the estimated retail value of those products, are set out in the following table. - Cigarettes - - Tobacco...

Written Answers — Department of Finance: Electric Vehicle Grants (16 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that electricity powered vehicles can refer to electric vehicles, hybrid electric vehicles and plug-in hybrid electric vehicles. The table below schedules the number of registrations of these categories by county for each of the years 2010 to the end of November 2014. County 2010 2011 2012 2013 To end November 2014 Cork Electric 11 7 16 7 29...

Written Answers — Department of Finance: Seed Capital Scheme (16 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 190, 192 and 194 together. The overall costs of the various schemes requested by the Deputy are published on the Revenue Commissioners Statistics webpage at , under the files headed "Costs of Credits, Allowances and Reliefs". Costs are published up to tax year 2012 (the most recent currently available) and will be updated in due course. In relation to...

Written Answers — Department of Finance: Tax Exemptions (16 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 191 and 193 together. I am informed by the Revenue Commissioners that the overall costs of the various schemes requested by the Deputy are published on the Commissioners' Statistics webpage at  , under the files headed "Costs of Credits, Allowances and Reliefs". Costs are published up to tax year 2012 (the most recent currently available) and will be...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (16 Dec 2014)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, repayment of excise duty on fuel, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe physical...

Written Answers — Department of Finance: Economic Data (16 Dec 2014)

Michael Noonan: The Government's principal strategy in recent years has been to put the public finances on a stable footing as a precondition to the continuation of economic growth. Estimates of economic activity for the third quarter of this year saw GDP growing by 0.1 per cent over the quarter and by 3.5 per cent year-on-year. Although this represents a slowdown on the exceptionally strong first half of...

Written Answers — Department of Finance: Economic Data (16 Dec 2014)

Michael Noonan: Based on data supplied to my Department by the CSO, gross national product (GNP) per hour worked in the Irish economy amounted to €43.18 in 2013. These data are for total employment, including both employees and the self-employed. Full-year data for 2014 will be available next year. A table for this series going back to 1998 is included for completeness follows: Year GNP Per...

Written Answers — Department of Finance: IBRC Liquidation (16 Dec 2014)

Michael Noonan: Under Section 13 (1) of the Irish Bank Resolution Corporation Act 2013 I, as Minister for Finance, have certain limited powers of direction which can be exercised, namely: - (a) to bid for such bank assets of IBRC and to acquire from IBRC, acting through a special liquidator, such bank assets of IBRC on such terms and conditions (including the consideration), as are specified in the...

Written Answers — Department of Finance: IBRC Liquidation (16 Dec 2014)

Michael Noonan: I am advised by the Special Liquidators that they are not obliged to produce a statement of affairs. However, under Section 306 of the Companies Act, the Special Liquidators are required to send to the registrar of companies a statement containing the prescribed particulars about the proceedings in and position of the liquidation of IBRC after 2 years from the date IBRC...

Written Answers — Department of Finance: Universal Social Charge Yield (16 Dec 2014)

Michael Noonan: The data requested by the Deputy regarding the USC is set out in the following table. It is important to take into account that the figures displayed for 2011, 2012 and 2013 in the table are based on end-year outturns and are on a Revenue Net Receipts basis. These can differ slightly from Exchequer Receipts for reasons of accounting and timing. The estimates and projected percentages for...

Written Answers — Department of Finance: EU Issues (16 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 204 and 207 together. The report on the European Investment Bank/Commission/Member State Task Force on investment in the EU, which includes the proposals submitted by the Department of Finance, can be found on the following website - The project list was compiled on a best efforts basis under an extremely demanding timeline and was not approved/analysed by...

Written Answers — Department of Finance: Departmental Meetings (16 Dec 2014)

Michael Noonan: In response to the Deputy's question I have interpreted Management Advisory Council as meaning Management Advisory Committee (MAC), which is the title of the Senior Management Group in my Department. I have held a number of meetings with a subgroup of this Committee. The number of entries for such meetings are recorded in my diary as follows: 2014: 3 2013: 20 The...

Written Answers — Department of Finance: Departmental Meetings (16 Dec 2014)

Michael Noonan: In response to the Deputy, I have  interpreted Management Advisory Council  as meaning  Management Advisory Committee (MAC), comprising those Senior Managers in my Department.  Please find set out below a table detailing all MAC meetings since 2011 and a full list of attendees, as per their titles, at these meetings.