Results 6,801-6,820 of 27,019 for speaker:Michael Noonan

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: I know. I am not objecting. I am completing the answer by giving the Deputy the e-mail reference.

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: Deputy Coppinger has made allegations of widespread abuse arising from the fact that persons who should be treated as employees-----

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: -----are being treated as self-employed to their disadvantage. Normally, the charge is that people who should be treated as employees want to be self-employed for tax purposes.

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: The Deputy has reversed that, saying that they are being exploited. If she has facts to support that, she should go to Revenue. I am giving her the reference to do so.

Other Questions: Bank Restructuring (23 Jun 2015)

Michael Noonan: I thank the Deputy for her question. As she will be aware, under the relationship framework the State does not intervene in the day-to-day operations of the banks in which it holds investments or their management decisions regarding commercial matters. Hence, any discussion around matters such as outsourcing is a matter for the bank, the relevant staff and their union...

Other Questions: Bank Restructuring (23 Jun 2015)

Michael Noonan: The Deputy would have received answers to the effect that the State was at arm's length from the banks and that we did not interfere in commercial decisions. The relationship framework sets out clearly that the political side should not interfere in commercial decisions. Consider when Anglo Irish Bank was nationalised or when, in the early days of this Government, I recapitalised PTSB, AIB...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: As I stated already, guidance on whether a person is engaged as an employee or as a self-employed contractor is provided in the Code of Practice for Determining Employment or Self-Employment Status of Individuals, which document was prepared jointly by the Irish Congress of Trade Unions, business representative bodies and relevant State agencies. The guidance on the different conditions of...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: I am reviewing the whole ambit of the texts in the context of the forthcoming budget. The Deputy asked whether I would consider indexing the thresholds. The thresholds were previously indexed to inflation through the consumer price index, but this link was broken following the financial crash, as inflation was positive while property values were declining considerably. We want to be sure...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: I will review the situation and I will take into account what the Deputy has said for the review.

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: I have not seen any evidence of a negative impact on Exchequer returns and a change to self-employment in the construction sector and I cannot, therefore, accept the Deputy's assertion in that regard. I assume that the Deputy's reference to ensuring that RCT is "not used in a manner to deny workers in the sector basic rights" relates to the RCT system which is a tax deduction at source...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: This issue has been raised with me by Deputies and others in recent months and I am conscious of the concerns involved. Capital acquisitions tax, CAT, applies to the beneficiary of a gift or inheritance rather than to the person making the gift or inheritance. Whereas the rate of CAT is 33%, each person has a number of lifetime thresholds for gifts and inheritances which they can receive...

Ceisteanna - Questions - Priority Questions: Eurozone Crisis (23 Jun 2015)

Michael Noonan: I have great sympathy for the Greek people and I have expressed this view on several occasions in the House. I have also been quite helpful to the Greek authorities in moving to the present position whereby realistic negotiations are taking place. I do not have the strong personal relationship that the Deputy's group and Sinn Féin have with the party of government in Greece because I...

Ceisteanna - Questions - Priority Questions: Eurozone Crisis (23 Jun 2015)

Michael Noonan: The Deputy is again ascribing views to me which I do not hold and which I have never held. My objective in negotiating on behalf of Ireland at the Eurogroup is to ensure the Eurogroup is preserved and there is no threat to the euro as the currency of the 19 countries in the group. I have stated on several occasions that I want Greece to remain as a constituent of the Eurogroup and continue...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: The Deputy always forgets the difference between gross income and net income. A person with a gross income on PAYE at a salary or wage of €70,000 a year, which is using an example of someone who is very wealthy, pays more than €25,000 in personal income tax. Accordingly, the net income is less than €45,000. We are directing it from that level down. It is not from...

Ceisteanna - Questions - Priority Questions: Eurozone Crisis (23 Jun 2015)

Michael Noonan: At a European level, discussions regarding Greece take place among euro area finance Ministers in the context of the Eurogroup. The procedure for dealing with all programme countries is as follows. The three institutions, namely the European Commission, the ECB, European Central Bank, and the IMF, International Monetary Fund, conduct technical discussions with the authorities. Where...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: It includes Deputy Doherty.

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: Sinn Féin is a high tax party and all of the bombast, rhetoric and personal remarks in the world will not get away from the fact that it is involved in fantasy economics and its proposals on a series of budgets do not add up. It is a tax and spend party and is entitled to take that position. It wants to raise taxes on everybody. Our position is different. We want to reduce taxes, in...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael Noonan: As I said, significant progress has been made. A number of banks have offered fixed rate products at much lower rates than the variable rate. I draw attention in particular to the new set of fixed rate offers Bank of Ireland has made and the other banks and mortgage lenders will be coming forward in due course with their proposals. I gave them time and space until 1 July and I also...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael Noonan: I note the release of a number of publications by the ESRI as part of its annual "Budget Perspectives" series, which is a welcome part of the information base leading up to the budget each year. I assume the paper to which the Deputy is referring is "Exploring Tax and Welfare Options". The paper indicates that a reduction in the 8% rate of USC or a cut in the top income tax rate would...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael Noonan: The purpose of the meetings was to ensure that persons with mortgages would get mortgages at cheaper rates. Whether they are variable-rate or fixed mortgages is a matter of choice with customers. A reduction in mortgage rates was the priority of those meetings. While AIB had announced a variable mortgage rate reduction before this series of meetings, I had previously met the incoming CEO...