Results 5,601-5,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Strategies (5 Nov 2015)

Michael Noonan: As I have previously stated in answer to parliamentary questions, it would not be appropriate to publish the details of such contingency planning.  Also, as I previously stated in answer to Parliamentary Question No. 215 of 10 March 2015, "at no point in 2011 (or since) were Irish pounds being printed."  This is not to state that no contingency plans were developed or that...

Written Answers — Department of Finance: EU-IMF Programme of Support Drawdowns (5 Nov 2015)

Michael Noonan: The Government took office in early March 2011. I am informed by the NTMA that by that time there had been three EU/IMF Programme disbursements, totalling approximately €14.4 billion. This is net of a prepaid margin of €0.53 billion deducted from the EFSF disbursement of 1 February 2011. Given total external EU/IMF Programme funding of €67.5 billion, the funding remaining...

Written Answers — Department of Finance: National Treasury Management Agency Deposits (5 Nov 2015)

Michael Noonan: The National Treasury Management Agency (NTMA) has advised that total Exchequer cash and other financial assets stood at €25.2 billion at end-February 2011, of which €21.5 billion was in the form of readily accessible Exchequer cash and other short-term investment balances. The end-February 2011 position reflected EU-IMF Programme drawdowns of over €14 billion in the...

Written Answers — Department of Finance: Central Bank of Ireland Staff (5 Nov 2015)

Michael Noonan: An extensive national and international executive search process was undertaken to identify suitably qualified candidates in Ireland and abroad for the position of Governor of the Central Bank of Ireland. Public calls for applications were published on the Department of Finance, Central Bank and Public Appointments Service websites, as well as an advertisement being placed in the...

Written Answers — Department of Finance: NAMA Staff Data (5 Nov 2015)

Michael Noonan: As I have previously advised the Deputy in Dail Question 90 of 24 September 2015, the overall cost of NAMA's redundancy programme will not exceed €20 million. That figure includes a retention payment element which is designed to ensure that NAMA retains key staff, and the expertise they hold, within the organisation for as long as they are needed. As set out in my...

Written Answers — Department of Finance: State Claims Agency (5 Nov 2015)

Michael Noonan: In response to the Deputy's question the State Claims Agency (SCA) have supplied the following information:  Table 1. Total Agency solicitors' fees paid in 2013 & 2014 Year Agency solicitor costs (€) 2013 12,271,052 2014 13,298,397 Total 25,569,449 The level of legal costs paid to plaintiffs' legal representatives is carefully reviewed and, wherever possible and...

Written Answers — Department of Finance: Primary Medical Certificates Provision (5 Nov 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, an exemption from motor tax, and a fuel grant (up to a certain limit). In order to participate in the scheme, an...

Written Answers — Department of Finance: Budget Targets (5 Nov 2015)

Michael Noonan: Estimates of the gross and net fiscal space for the period 2017 to 2021 using the Expenditure Benchmark can be found in Tables A8 and A9 on pages C.50 and C.51 of the Budget 2016 book. The Expenditure Benchmark, restricts the year-on-year growth of government expenditure, net of discretionary revenue measures, to given reference rates, adjusted by the GDP deflator. The relevant reference...

Written Answers — Department of Finance: Tax Data (5 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the information which would be necessary to provide a cost estimate along the lines sought by the Deputy is not a feature of the information which is sought from companies as part of their annual tax returns. Where expenses incurred by an employee or office holder, such as non-executive director, do not satisfy the criteria which would allow...

Written Answers — Department of Finance: Tax Credits (5 Nov 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides for tax relief for an individual in a year of assessment where that individual has incurred relevant health care expenses in that year of assessment. In this context health care expenses includes non-routine dental expenses such as the fitting of braces. Section 469(2) provides that where an individual qualifies for this relief, the...

Finance Bill 2015: Second Stage (4 Nov 2015)

Michael Noonan: Now goes the magician.

Finance Bill 2015: Order for Second Stage (4 Nov 2015)

Michael Noonan: I move: "That Second Stage be taken now."

Finance Bill 2015: Second Stage (4 Nov 2015)

Michael Noonan: I move: "That the Bill be now read a Second Time." When I made my 2016 Budget Statement in the Dáil three weeks ago, I stated the top priority was to keep the recovery going, while providing relief and better services for the people. The Finance Bill 2015 provides the legislative basis for the taxation measures. As I outlined on budget day, the taxation measures are just one...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (4 Nov 2015)

Michael Noonan: I thank Senator MacSharry for raising this important issue. Senators will be aware that Activate Capital, known as Activate, is a new and innovative non-bank financing platform that has been established by the Ireland Strategic Investment Fund, ISIF, and the global investment group KKR. Activate Capital will invest on a commercial basis in residential development projects in Ireland, which...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (4 Nov 2015)

Michael Noonan: The strategic investment fund is obliged by law to lend commercially and get a commercial return on its lending. The base rate is 10% but in individual projects the rate would be higher than that. In addition, if one has a successful project and allows for the fact that there is participation in profitability because they are providing equity, it grosses out at around the figure the Senator...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (4 Nov 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) was created to ensure increased lending, at a lower cost, to Irish SME's by channelling lower cost financing from EIB and KfW though lending partners known as on-lenders. All on-lending partners of the SBCI, including AIB and Bank of Ireland are required, under contract, to pass on to their borrowers the full extent of the financial...

Written Answers — Department of Finance: Motor Tax Exemptions (4 Nov 2015)

Michael Noonan: Regulations 8(4), 8(5), 10(4), and 12(6) of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994 (S.I. 353 of 1994) provide that drivers, passengers and organisations respectively shall undertake to use the vehicle purchased under the Regulations for a period of two years from the date of purchase. Regulation 15 of the Regulations provides that...

Written Answers — Department of Finance: Tax Code (4 Nov 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) applies to the beneficiary of a gift or inheritance rather than to the person making the gift or inheritance. While the rate of CAT is 33% each person has a number of life-time thresholds for gifts and inheritances which they can receive tax free. These are based on the relationship to the person who has made the gift or bequest. The 33% rate of CAT applies on...

Written Answers — Department of Finance: Tax Yield (4 Nov 2015)

Michael Noonan: I am informed by the Revenue Commissioners that it is not possible at this time to estimate when such properties will be disposed of in the future or the amount of chargeable capital gain, if any, which may arise on such disposals. Accordingly, it is not possible to estimate the likely cost of the exemption.

Written Answers — Department of Finance: Departmental Staff Data (4 Nov 2015)

Michael Noonan: The Department is fully aware of its obligations under the Official Languages Act 2003. The Department offers courses in Irish and other EU languages to staff of the Department in order to assist in dealing with queries and also to improve our communication when engaging with our EU colleagues. The Department has celebrated Seachtain na Gaeilge in 2014 and 2015 and funding is put in...