Results 1,941-1,960 of 27,019 for speaker:Michael Noonan
- Government Borrowing (7 Jun 2011)
Michael Noonan: As I stated, I will put the facts before Deputy Doherty. The facts are now that we are running a balance of payments surplus, exports are at an all-time high, people are going back to work in the exporting manufacturing companies but, of course, there is not enough work there for everybody who requires it. The tourism industry is finding its feet again-----
- Government Borrowing (7 Jun 2011)
Michael Noonan: -----as a result of the reductions in VAT. We knew the visit of foreign dignitaries would give a great boost. I am saying to Deputy Doherty that he can keep knocking and keep talking it down as much as he likes, but we on this side of the House are going to try to rescue the country from the situation it was in when we came into Government and one may be with us or against us.
- Written Answers — Fiscal Policy: Fiscal Policy (7 Jun 2011)
Michael Noonan: The overall fiscal adjustment for 2012 underpinning the Joint EU/IMF Programme of Financial Support is â¬3.6 billion and this will be implemented through a combination of further reductions to public expenditure and additional revenue raising measures. The Programme agreed in December 2010 provides for the implementation of revenue measures designed to yield â¬1.5 billion in a full year and...
- Written Answers — National Asset Management Agency: National Asset Management Agency (7 Jun 2011)
Michael Noonan: I do not consider it necessary to establish an agricultural review body within the National Asset Management Agency. In the particular case which may have prompted the Deputy's question, NAMA did not consider it appropriate that it should manage the loans, which had been advanced for agricultural purposes and where the property development element was not material, even where the loans were...
- Written Answers — Croke Park Agreement: Croke Park Agreement (7 Jun 2011)
Michael Noonan: I propose to take Questions Nos. 31, 64 and 100 together. Progress under the Public Service Agreement 2010-2014 is overseen by the Implementation Body, established in July 2010. In line with paragraph 1.16 of the Agreement, a review of progress is to be conducted on an annual basis by the Body to determine the sustainable savings that have been achieved. The first such review has been...
- Written Answers — State Assets: State Assets (7 Jun 2011)
Michael Noonan: Following publication of the report of the Review Group on State Assets and Liabilities in April, my colleague the Minister for Public Expenditure and Reform asked Departments to give their considered views on the group's recommendations. The Departments are reverting now with their views. After considering these submissions, the Minister intends to bring proposals to Government on the matter.
- Written Answers — International Organisations: International Organisations (7 Jun 2011)
Michael Noonan: The Organisation for Economic Co-operation and Development produces forecasts twice yearly for Ireland and a number of other economies throughout the world. In addition, the OECD Economic Development and Review Committee carries out a review of each member country periodically. In that context the OECD focuses on structural issues of a more medium-term nature. The last such review of Ireland...
- Written Answers — European Council Meetings: European Council Meetings (7 Jun 2011)
Michael Noonan: The usual meeting of the Eurogroup took place on 16 May 2011. The President of the Eurogroup, Mr. Juncker, outlined at the press conference after the meeting the main items discussed at the meeting. It is usual practice for the President of the Eurogroup to speak on behalf of the Eurogroup after each meeting. The main points at the meeting were that: Ministers unanimously agreed to grant...
- Written Answers — State Assets: State Assets (7 Jun 2011)
Michael Noonan: The State assets examined by the Review Group on State Assets and Liabilities fall under the auspices of a number of Government Departments. Following publication of the Review Group's report in April, my colleague the Minister for Public Expenditure and Reform asked Departments to give their considered views on the Group's recommendations. Departments are reverting now with their views....
- Written Answers — Financial Instruments: Financial Instruments (7 Jun 2011)
Michael Noonan: The Deputy will appreciate that this information is not held by my Department. I have however requested this information from each of the covered institutions and I will forward it to the Deputy as soon as possible. The Deputy may wish to note that I am advised that the measurement of the average interest rate on bank debt liabilities is not - especially at present - a particularly...
- Written Answers — Ministerial Meetings: Ministerial Meetings (7 Jun 2011)
Michael Noonan: I propose to take Questions Nos. 37 and 118 together. My fellow European finance ministers and I regularly discuss at our meetings the economic situation in the EU, eurozone and in individual member states. Since the new Government has taken office, I have communicated widely with my European colleagues in this forum and in others to foster a deeper understanding of Ireland's economic...
- Written Answers — Tax Code: Tax Code (7 Jun 2011)
Michael Noonan: The issue of maintaining tax credits and bands at their current rates will be a matter for Budget 2012. As the Deputy is aware, the Government has initiated a Comprehensive Review of Expenditure (CRE) to provide the Government with a set of decision options to meet the overall fiscal consolidation objectives and re-align spending with the Programme for Government priorities. The CRE is due...
- Written Answers — Financial Instruments: Financial Instruments (7 Jun 2011)
Michael Noonan: My Department has been advised by the bank that as of 1 June 2011 it has â¬2.86 billion in unguaranteed senior debt outstanding and â¬2.96 billion in senior debt guaranteed under the ELG scheme. The table below gives details of the value of this debt maturing in each of the years referenced in the Deputy's question. These securities are valued at par in the bank's financial accounts as the...
- Written Answers — Fiscal Policy: Fiscal Policy (7 Jun 2011)
Michael Noonan: I propose to take Questions Nos. 40 and 116 together. The recent increase in the rate of inflation across Europe has been discussed at a number of ECOFIN meetings this year. However, I would like to stress that responsibility for monetary policy rests with the ECB and that national Governments do not have any influence on the decision making process.
- Written Answers — Fiscal Policy: Fiscal Policy (7 Jun 2011)
Michael Noonan: I propose to take Questions Nos. 41 and 58 together. As the Deputy is aware, earlier today, in response to a priority question, I outlined the position in this regard. As I intimated, the Joint EU/IMF Programme of Financial Support provides for a total financial package of â¬85 billion. Within this total amount, â¬67.5 billion comes from external sources, while the remaining â¬17.5...
- Written Answers — Public Service Pensions: Public Service Pensions (7 Jun 2011)
Michael Noonan: I understand the Deputy is referring to Members of the previous Seanad and their entitlements on leaving office. These are set out in the following table: Senator service Annual Pension (reduced with effect from 1 Jan 2011) Lump Sum (pre-reduced pension x 3) 5 years â¬8,766 â¬26,300 10 years â¬18,253 â¬55,956 15 years â¬26,900 â¬83,934 20 years â¬35,386 â¬111,912 If an...
- Written Answers — Tax Code: Tax Code (7 Jun 2011)
Michael Noonan: The position is that the programme for Government commits to a review of the Universal Social Charge (USC) and I have stated a number of times in the House that I encourage all interested parties to join the review of the USC by way of submission to my Department. My Department is currently accepting submissions from interested parties; however, if changes to the USC are being proposed, I...
- Written Answers — Fiscal Policy: Fiscal Policy (7 Jun 2011)
Michael Noonan: The Stability Programme Update submitted to the European Commission and published by my Department at the end of April forecasts the 2012 General Government deficit at 8.6% of GDP, which is in line with the terms of the revised EDP Recommendation issued by the ECOFIN Council in December 2010. This forecast is based on the implementation of a budgetary adjustment of â¬3.6 billion in 2012....
- Written Answers — Jobs Initiative: Jobs Initiative (7 Jun 2011)
Michael Noonan: Taking account of the state of the public finances and the need to repair our banking system, this agreement is committed to ensure that Ireland is put firmly back on a path to a more sustainable and equitable society. We are only in office a very short time and we have already brought forward a number of initiatives. For instance, the intention of the measures contained in last month's Jobs...
- Written Answers — Banks Recapitalisation: Banks Recapitalisation (7 Jun 2011)
Michael Noonan: The Deputy may be aware that the restructuring plan creates capacity for the Pillar Banks to provide lending in excess of â¬30 billion in the next three years. SME and new mortgage lending for these banks is expected to be in the range of â¬16-20bn over this period. In each bank, a team of senior managers will be dedicated to the sole task of ensuring lending continues to grow to support...