Results 14,601-14,620 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Revenue Commissioners Investigations (3 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that their overall approach to tackling compliance is to make the appropriate intervention following careful appraisal of the risk factors in each case. Not all interventions conducted are in the form of an audit. The appropriate compliance intervention is the one considered to be the most effective in targeting the specific risk or risks...

Written Answers — Department of Finance: Tax Reliefs Cost (3 Oct 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the full year yield to the Exchequer from confining relief for expenses allowable to employees to the standard rate of income tax for the year 2010, the most recent year for which the necessary estimates are available, would be of the order of €23 million. However, such a measure could not be considered without the application of similar...

Written Answers — Department of Finance: Tax Collection (3 Oct 2013)

Michael Noonan: Firstly, the Deputy will be aware that debt collection continues to be very challenging for both business and Revenue given the ongoing difficult financial environment. I am assured that Revenue continues to be very conscious of the challenges that exist for some businesses in meeting their tax obligations in a timely manner and its debt collection caseworkers will always seek to work...

Written Answers — Department of Finance: National Treasury Management Agency Deposits (3 Oct 2013)

Michael Noonan: Exchequer cash balances are held in the Exchequer account at the Central Bank of Ireland and earn interest at the Euro Overnight Index Average (EONIA) rate. These balances are available immediately to the State. At end-September 2013 there were Exchequer cash balances of €12.5 billion. At end-September 2013 there was also €13.1 billion on hand in short-term investments,...

Written Answers — Department of Finance: Economic Policy (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 82, 88, 92 and 94 together. The latest data from the Quarterly National Accounts show that real GDP increased by 0.4 per cent in the second quarter of this year. More high frequency data have also been encouraging and suggest a continuation of the positive momentum into the third quarter. In particular, I would point to signs of a modest recovery in domestic...

Written Answers — Department of Finance: Mortgage Arrears Proposals (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 83, 89 and 93 together. The Government's strategy to assist those in mortgage difficulty is built around measures in four distinct areas - Personal Insolvency, a Mortgage Advisory Service, the Mortgage to Rent Scheme, and Engagement with the Banks, and considerable progress has now been achieved across this agenda. The implementation of sustainable...

Written Answers — Department of Finance: Credit Availability (3 Oct 2013)

Michael Noonan: I assume the Deputy is referring to the extent to which SMEs seeking credit have been accommodated by their banks. As the Deputy is aware, the Government recognises that SMEs are the lifeblood of the economy and will play a vital role in the recovery of employment growth in our country. One of the key priorities of the Programme for Government is to ensure that an adequate pool of credit is...

Written Answers — Department of Finance: Credit Availability (3 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 85, 86 and 91 together. Access to finance for SMEs is a key aspect of the Action Plan for Jobs 2013. It is the Government’s vision that all viable businesses operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the economy. The working capital...

Written Answers — Department of Finance: Economic Growth Initiatives (3 Oct 2013)

Michael Noonan: The Government has put a priority on getting people back to work and the recent labour market figures are very positive in this regard. The Quarterly National Household Survey results for the second quarter of this year showed the strongest job creation since 2008. Encouragingly this growth consisted of both full and part-time employment and was broad based across the different sectors of...

Written Answers — Department of Finance: Economic Data (3 Oct 2013)

Michael Noonan: The improvements in economic conditions in Ireland over the past five years have been considerable and, although we still have some way to go, the achievements to date should not be forgotten. Having contracted for three successive years from 2008 to 2010, the economy recorded a second successive year of growth in 2012. This recovery has been driven by strong export growth over the period,...

Written Answers — Department of Finance: Economic Policy (3 Oct 2013)

Michael Noonan: I assume that the Deputy is referring to the preparation by the Government of a Medium Term Economic Strategy (MTES) for the period 2014 to 2020. The MTES is being developed jointly by the Departments of Finance and Public Expenditure & Reform in conjunction with other relevant Departments and will establish the macroeconomic strategy and policy actions for achieving sustainable...

Leaders' Questions (2 Oct 2013)

Michael Noonan: Deputy Martin was never here when there was trouble. He was in America.

Written Answers — Department of Finance: Budget Submissions (2 Oct 2013)

Michael Noonan: My Department has received a pre-Budget submission from SIMI which includes, among other things a proposal for a swappage scheme. All such proposals will be considered in the context of the forthcoming Budget.

Written Answers — Department of Finance: Financial Services Regulation (2 Oct 2013)

Michael Noonan: I have no responsibility for the issue referred to by the Deputy which is a matter of Australian law. The regulation of mortgage lending in Australia is a matter for the authorities there.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (2 Oct 2013)

Michael Noonan: I am advised that the Special Liquidators of IBRC are maintaining contact with its mortgage holders and with the Central Bank (as part of its overall Mortgage Arrears Resolution Strategy (MARS) process) with a view to appropriately dealing with INBS mortgage holders in arrears on their mortgage. The Special Liquidators also confirm that the residential mortgage customers of IBRC (in Special...

Written Answers — Department of Finance: Tax Code (2 Oct 2013)

Michael Noonan: Finance Act 2009 introduced a cap of 75% on the amount of interest on loans used to purchase, improve or repair rented residential property, that can be deducted in computing rental profit for tax purposes. The restriction applies to interest accruing on or after 7 April 2009. It does not apply to loans in respect of rented commercial property. I am advised by the Revenue Commissioners that...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (2 Oct 2013)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and Vehicle Registration Tax (up to a certain limit), and exemption from motor tax, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities. The disability criteria for these concessions are set out in the Disabled Drivers and Disabled...

Written Answers — Department of Finance: Budget 2014 Issues (2 Oct 2013)

Michael Noonan: Taxation provisions included in the Finance Act 2013 and the Finance (Local Property Tax) Act 2012 in relation to measures set out in Budget 2013 will result in an estimated carryover of around €300 million in 2014. There was also carryover from changes to PRSI in Budget 2013. Measures in relation to the maximum allowable pension fund at retirement to be introduced in 2014 were also...

Written Answers — Department of Finance: Universal Social Charge Yield (2 Oct 2013)

Michael Noonan: As the Deputy will be aware, Finance Act 2012 introduced a surcharge of 5% on the amount of income sheltered by property reliefs in a given year. The surcharge was effective from 1 January 2012 and applied to individuals with gross incomes exceeding EUR 100,000. It is tentatively estimated that the yield from increasing the surcharge from 5% to 10% could be of the order of EUR 7 million in...

Written Answers — Department of Finance: Excise Duties Yield (2 Oct 2013)

Michael Noonan: I propose to take Questions Nos. 103 to 106, inclusive, together. I am informed by the Revenue Commissioners that, based on data currently available, the estimated full year yield from an increase in excise (VAT inclusive) on the products referred to are as follows: - 20c 50c €1 - Full year Full year Full year Wine 11.3 27.1 50.5 Tobacco 30.7 75.8 148.8 - 2c 5c 10c - Full year...