Results 15,381-15,400 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Equality Proofing of Budgets (2 Jul 2013)

Michael Noonan: I would like to make the Deputy aware that the Programme for Government does contain a commitment to require all public bodies to take due note of equality and human rights in carrying out their functions. Furthermore, the Cabinet handbook requires a statement on the likely effects of the decision sought on equality and persons experiencing or at risk of poverty or social exclusion to be...

Written Answers — Department of Finance: Vehicle Registration Issues (2 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that vehicle registration tax (VRT) is charged on the open market selling price (OMSP) which for new vehicles is defined in Section 133 (2) of the Finance Act 1992 as: (2) (a) For a new vehicle on sale in the State which is supplied by a manufacturer or sole wholesale distributor, such manufacturer or distributor shall declare to the Commissioners in...

Written Answers — Department of Finance: Banking Sector Issues (2 Jul 2013)

Michael Noonan: As the Deputy is aware, the UK Chancellor, Mr George Osborne in his recent Mansion House speech, in dealing with the future of the two UK banks in which the British Exchequer has a significant shareholding, made some references to Ulster Bank in the context of the future orientation of RBS. Earlier that day the Parliamentary Committee on Banking had issued its report and the Chancellor was...

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

Michael Noonan: The April Stability Programme update set out the consolidation path for 2014 and 2015 (Table 2 page 6), consistent with Budget 2013, showing the composition of revenue and expenditure measures. The general government balance (Table 8 page 22) was forecast using the technical assumption that the benefits of the promissory note restructuring would be used for deficit reduction. The exact...

Written Answers — Department of Finance: European Stability Mechanism (2 Jul 2013)

Michael Noonan: As you are aware the Euro-Area Heads of State or Government agreed on 29th June 2012 to break the vicious circle between banks and sovereigns, and that when a Single Supervisory Mechanism is in place involving the ECB, the European Stability Mechanism (ESM) could recapitalize banks directly. The Euro-Area Heads of State or Government confirmed this position and mandated EU Finance Ministers...

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

Michael Noonan: The Government is eager to hear reasonable proposals for budget measures from all interested parties and organisations. We will consider them fully and give them due consideration. The April Stability Programme update set out the consolidation path for 2014 and 2015 (Table 2 page 6), consistent with Budget 2013, showing the composition of revenue and expenditure measures. The general...

Written Answers — Department of Finance: Bank Recovery and Resolution Directive (2 Jul 2013)

Michael Noonan: On 26 June 2013 European Finance Ministers agreed a common position on the bank recovery and resolution directive. This agreement provides a negotiating mandate to enter into discussions with the European Parliament. Trilogue discussions (Council/Parliament/Commission) will commence next week under the Lithuanian Presidency and are expected to conclude by the end of this year. This timeline...

Written Answers — Department of Finance: Bank Stress Tests (2 Jul 2013)

Michael Noonan: The original timeline for Ireland’s next stress test under the Troika programme, was linked to the EU wide EBA stress test timeline, and has changed in light of the evolving calendar for the next EU-wide bank diagnostic exercises in the lead-up to the Single Supervisory Mechanism (SSM). The intention is to ensure that appropriate preparations are made early so that the Irish banks are...

Written Answers — Department of Finance: Financial Transactions Tax (2 Jul 2013)

Michael Noonan: As I have previously stated, Ireland's position is that a Financial Transactions Tax (FTT) would be best applied on a wide international basis to include the major financial centres. If it cannot be introduced on a global basis, it would be better if it were introduced on at least an EU-wide basis to prevent any distortion of activity within the Union. This is in line with the Commission's...

Written Answers — Department of Finance: NAMA Expenditure (2 Jul 2013)

Michael Noonan: I refer the Deputy to pages 29-31 and pages 53-54 of NAMA's Annual Report and Financial Statements for 2012, which contain detailed information on the Agency's funding in Ireland to enable construction projects currently in progress to be completed and to develop new projects to meet prospective supply shortage in certain market segments. The Report includes examples of some significant...

Written Answers — Department of Finance: Corporation Tax (2 Jul 2013)

Michael Noonan: As a rule we do not comment on the tax regimes of other jurisdictions. However, the OECD has consistently stated that low corporation tax rates combined with a broad base is the best way to encourage economic growth while still maintaining tax revenues. That is what we have being doing for many years and what we will continue to do. A reform of the Northern Ireland corporation tax rate and...

Written Answers — Department of Finance: Derivatives Market (2 Jul 2013)

Michael Noonan: On June 13 2013, the Irish Presidency reached a breakthrough in talks at Council level on the MiFID II and MiFIR proposals which aim to make financial markets more efficient, resilient and transparent, and to strengthen the protection of investors. The achievement of a Council General Approach, which was endorsed at Ecofin on 21 June 2013, signals a significant step forward by the EU...

Written Answers — Department of Finance: Money Laundering (2 Jul 2013)

Michael Noonan: The Commission published its proposals for a 4th Money Laundering Directive on 5 February 2013. Those proposals are currently being examined by an Expert Working Party of the European Council. The Draft Directive proposes that tax crimes be included as a predicate offence for money laundering. This is already the case under Irish Law where all crimes, including tax crimes, are predicate...

Written Answers — Department of Finance: State Banking Sector (2 Jul 2013)

Michael Noonan: I have previously indicated that the State does not want to be an investor in banks and will seek to exit its various holdings at the appropriate time and when market conditions permit. At its results briefing last March, Bank of Ireland indicated that it was considering a range of options relating to its preference shares. I can confirm to the Deputy that officials in the Department of...

Written Answers — Department of Finance: European Stability Mechanism (2 Jul 2013)

Michael Noonan: As you are aware the Euro-area Heads of State and Government agreed on 29th June 2012 to break the vicious circle between banks and sovereigns, and that when a Single Supervisory Mechanism is in place involving the ECB, the European Stability Mechanism (ESM) could recapitalise banks directly. The Euro-area Heads of State and Government confirmed this position and mandated EU Finance...

Written Answers — Department of Finance: European Banking Union (2 Jul 2013)

Michael Noonan: When Ireland assumed the Presidency of the Council of the European Union in January the highest priority was afforded to the completion of the Banking Union, with the aim of breaking the link between banks and sovereigns which had been unanimously agreed by European leaders on 29 June 2012. Real progress was made during the Irish Presidency in setting down the first real steps to a European...

Written Answers — Department of Finance: IBRC Investigations (2 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 170 and 279 together. I can confirm that neither I nor any official in the Department of Finance were aware of the contents of the tapes referred to until now. I am advised that these tapes formed part of the material that was supplied to An Garda Síochána over four years ago as part of their investigation into matters at Anglo Irish Bank. These...

Written Answers — Department of Finance: Property Taxation Collection (2 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the property owner in question is registered for Local Property Tax (LPT) and that he submitted a Local Property Tax Return on 2 May 2013 in which ‘Band 1’ was indicated which, based on the information supplied by the Deputy, is the correct band. It is important to note that LPT is a self-assessment tax, which means the taxpayer...

Written Answers — Department of Finance: Fuel Laundering (2 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the numbers of detections of the illegal use of marked diesel in the period in question were as set out in the following table. Detections of Illegal Use of Marked Diesel Year Number of Detections 2007 1,067 2008 1,095 2009 859 2010 1,239 2011 1,160 2012 1,169 2013 (to June 27th) 714

Written Answers — Department of Finance: Pension Provisions (2 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 175, 179, 192 and 274 together. As the Deputies will be aware the pension arrangements for the staff of Permanent TSB are a matter for the management of that company and for the trustees of the relevant pension schemes. It would not be appropriate for me to comment on the implications for an individual arising out of any proposed restructuring by Permanent...