Results 18,641-18,660 of 27,019 for speaker:Michael Noonan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: Some of these are legacy issues. We had six last year and four this year. They are quite predictable. The indicators are the size of the national debt, the amount of personal debt, the level of unemployment and the net balance of payments or international investment position.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: They are in trouble of some kind when one considers the low growth rates and high unemployment levels across Europe. In many of the Mediterranean countries the problem is high levels of unemployment, including in particular youth unemployment. There is no doubt they are real problems.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: I fully share the Senator's views on tax evasion and tax avoidance. We are doing a fairly good job in Ireland on eliminating tax evasion. Whenever I get a request from the Revenue Commissioners to plug holes that are being exploited by tax advisers, I legislate to plug those holes. Europe is also making progress on the issue, with automatic exchange of information on deposits in banks....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: Are these specific projects?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: Is there a list of specific projects? The demand came quickly to submit projects; there were only a couple of weeks. We took everything across Departments and in agencies.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: Some projects were not ready to go, but at least there were proposals that were formulated and costed, to a degree.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: We must prioritise now what we really want from that list for consideration. It will only be a fraction of what was put in.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: One does not wish to typecast an entire population. There are many people trying extraordinarily hard to sort things out. It is a very difficult model. We must remember there was civil war in Greece until 1949. When our Civil War was over there was conflict between the combatants, but in Greece there were a lot of consequences for the losing side. People in the public service were forced...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: The Greek authorities have made it clear they do not want write-downs. That is clear from the exchanges across Europe.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: It was done in a hurry.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: The projects are publicly available on the Commission and the European Investment Bank websites. We have costings but did not publish them because of commercial sensitivity. We will be looking for tenders.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: I do not know what costings they put up. They could have been indicative figures.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: ECOFIN Briefings: Minister for Finance (10 Feb 2015)

Michael Noonan: The Government has not made a decision to that effect. There are circumstances in which measures may be conceded to Greece or designed for Greece which would run to our disadvantage. For example, any indication that our debt is not sustainable could run against our best interests. This morning we were getting ten-year money on the secondary market at 1.20%, while the rate on Greek ten-year...

Written Answers — Department of Finance: Universal Social Charge Yield (11 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 40 to 42, inclusive, together. I am informed by the Revenue Commissioners that a breakdown of Universal Social Charge (USC) collected at each rate for the tax year 2012, the latest year for which data are available, is set out in the table below. USC Rate USC Collected (€m) 2% 360 4% 500 7% 2,880

Written Answers — Department of Finance: Tax Reliefs Application (11 Feb 2015)

Michael Noonan: Section 848A of the Taxes Consolidation Act 1997 provides tax relief at a blended rate of 31% on donations made by individuals to eligible charities and other approved bodies. In order to qualify for the tax relief currently, a minimum donation of €250 per annum must be made to the body concerned.  As the Deputy may be aware, changes were made to the scheme of tax...

Written Answers — Department of Finance: NAMA Property Leases (11 Feb 2015)

Michael Noonan: As the Deputy will be aware, NAMA is not the owner or operator of properties.  NAMA's role is, like a bank, that of a secured lender.  Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties continue to be managed by their existing owners or their professional managers/agents...

Written Answers — Department of Finance: Consumer Protection (11 Feb 2015)

Michael Noonan: The Central Bank has informed me that it cannot comment on its engagement with individual entities. The Bank has also informed me that the company to which the question refers is not regulated by the Central Bank.  The Central Bank Act 1997 contains a number of exclusions from the requirement to be authorised by the Central Bank and firms that meet the relevant criteria can...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (11 Feb 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, and exemption from motor tax in respect of that vehicle and, up to a certain limit, assistance in respect of fuel costs. To...

Written Answers — Department of Finance: Tax Code (11 Feb 2015)

Michael Noonan: I would advise the Deputy that unlike the Home Renovation Incentive that is currently in place, there were no specific tax incentives available for individuals who carried out home improvement works in 2012. However, Mortgage Interest Relief (MIR) is available in respect of interest paid on qualifying loans used to purchase, repair, develop or improve a home. In order for...

Written Answers — Department of Finance: Tax Rebates (11 Feb 2015)

Michael Noonan: I have been advised by the Revenue Commissioners that they have contacted the person concerned to request Form P60 for 2014. On receipt of the form, a review of the individual s tax liability will be dealt with and a PAYE Balancing Statement (P21) will be issued.