Results 10,701-10,720 of 27,019 for speaker:Michael Noonan

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: As a number of Deputies have pointed out, we are dealing here with a wholesale model. The SBCI's business model is based primarily on the on-lending model which has been operated successfully by Germany's promotional bank, KfW, and Spain's state investment bank, Instituto de Crédito Oficial, ICO. The SBCI is being set up initially as a wholesale funder which will work with various...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: It is always worth remembering that anything enacted by the House can be changed by a future Dáil. Therefore, no matter how a provision is couched or included in legislation, it can change. If, for example, we include a provision that the Minister for Finance will never dispose of the company, in a year's time the Minister for Finance could come in with amending legislation that would...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: While I welcome the amendment moved by Deputy Boyd Barrett, the matter has been considered at length by the team involved in the establishment of the SPCI. As initiated, the Bill expresses the optimal structure for the SPCI, which will be established as a company incorporated under the Companies Acts rather than as a statutory or public company. A Companies Acts company is more transparent...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: I have discussed the issue fully. While one could agree with the sentiments expressed by the Deputy, this legislation is not the appropriate vehicle for the amendments. They are beyond the scope of the Long Title. The Bill mandates the company in due course to expand into other areas and it does not exclude a social or environmental mandate. We will see how it progresses.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: If we do not run out of time.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Michael Noonan: There is a lot of food for thought in all of the contributions that have been made. I want to say, first, that I am not in a position to accept the proposed amendments because they are beyond the scope of the Long Title of the Bill and, as a consequence, I cannot incorporate them in the Bill. Many of the contributions that have been made are very interesting but, effectively, they are a...

Strategic Banking Corporation of Ireland Bill 2014: Second Stage (Resumed) (10 Jul 2014)

Michael Noonan: The establishment of the Strategic Banking Corporation of Ireland, SBCI, by increasing the availability of longer term flexible debt finance which is appropriately priced will provide SMEs with access to the type of patient intelligent capital that will increase productive investment, encourage growth and generate additional employment opportunities. In this context, the SBCI will be...

Committee of Public Accounts of Dáil Éireann (Compellability of Witnesses) Bill 2014: First Stage (10 Jul 2014)

Michael Noonan: No.

Protection of Young Persons (Employment) Regulations: Motion (10 Jul 2014)

Michael Noonan: I move:That Dáil Éireann approves the following Regulations in draft:Protection of Young Persons (Employment) (Exclusion of Workers in the Fishing and Shipping Sectors) Regulations 2014,a copy of which has been laid in draft form before Dáil Éireann on 9th June 2014.”

Written Answers — Department of Finance: Residential Property Prices Register (10 Jul 2014)

Michael Noonan: The property price register is produced by the Property Services Regulatory Authority in accordance with the Property Services (Regulation) Act 2011 which is a matter for the Minister for Justice and Equality. I am advised by the Revenue Commissioners that a person who acquires a property is required, for stamp duty purposes, to file a stamp duty return on a self assessment basis...

Written Answers — Department of Finance: Tobacco Control Measures (10 Jul 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the margins of error in the surveys of smokers that Ipsos MRBI carried out, for them and for the National Tobacco Control Office of the Health Services Executive, in the years in question are as set out in the following table. Year Margin of Error 2013 +/- 2.4% 2012 +/- 2.5% 2011 +/- 2.6% 2010 +/- 2.7%

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (10 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 39 and 41 together. In April 2013 the European Court of Justice ruled that the excise relief on fuel element of the Disabled Drivers and Disabled Passengers Scheme is incompatible with the EU Energy Tax Directive.  My Department has informed the European Commission of my intention to remove the excise relief element of the scheme at the...

Written Answers — Department of Finance: Departmental Staff Recruitment (10 Jul 2014)

Michael Noonan: On 8th July 2014, Derek Moran was appointed by the Government as Secretary-General of the Department of Finance effective from 15th July 2014.  Mr. Moran is currently serving in the Department as the Assistant Secretary for the Fiscal and Taxation Division. The appointment of the Secretary-General of the Department of Finance is a Government appointment.  To facilitate this...

Written Answers — Department of Finance: Tax Code (10 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 42 and 43 together. I am informed by the Revenue Commissioners that Sections 124 and 124A of the Stamp Duties Consolidation Act 1999 sets out the timetable for return of information and payments relating to stamp duty by credit card promoters. For payments made after the due date, interest of .0219 per cent per day together with a penalty of €380 per...

Written Answers — Department of Finance: Property Taxation Administration (10 Jul 2014)

Michael Noonan: I am advised by Revenue that An Post is an approved payment service provider authorised to accept Local Property Tax (LPT) and arrears of Household Charge (HHC) payments. Payment of LPT/HHC can be made through An Post in a single transaction or by phased payments on a weekly or monthly basis. Revenue has also advised me that while it requires all approved LPT/HHC service providers to...

Written Answers — Department of Finance: Insurance Industry Regulation (10 Jul 2014)

Michael Noonan: At the outset it should be noted that I, in my role as Minister for Finance, have no power to intervene in individual insurance cases.  The responsibility for day to day regulatory issues is a matter for the Central Bank of Ireland which is statutorily independent in the exercise of these functions. I have made inquiries with the Central Bank on the matter.  While you do...

Written Answers — Department of Finance: VAT Rate Application (10 Jul 2014)

Michael Noonan: The zero rate of VAT applies to the supply of soya milk and I have no plans to change this VAT treatment.

Written Answers — Department of Finance: Black Economy (10 Jul 2014)

Michael Noonan: The European statistical agency, Eurostat, has agreed recommendations on the estimation and recording of illegal economic activities in recent years and now requires Member States to include estimates for illegal economic activities in the National Accounts by September 2014. Section 13 of the 1993 Statistics Act provides that the Director General of the Central Statistics...

Written Answers — Department of Finance: Tax Reliefs Eligibility (10 Jul 2014)

Michael Noonan: I assume the Deputy is referring to the graduate entry programme which provides undergraduate medical education of four years duration and has been developed to produce medical graduates with the ability to successfully undertake an internship and thereafter to gain full registration with the Medical Council. The programme is supported by a combination of student fees, State funding and...

Written Answers — Department of Finance: Tax Credits (10 Jul 2014)

Michael Noonan: I assume the Deputy refers to cases where a primary carer of children wishes to relinquish the credit to a non-primary carer in circumstances where there is potentially more than one non-primary carer as a result of the relevant children having different parents. The relevant legislation does recognise that where there is more than one child within the primary carer's family unit and...