Results 15,561-15,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Court Cases (25 Jun 2013)

Michael Noonan: I presume that the Deputy’s reference to the commercial courts is a reference to the Commercial Court, which is a division of the High Court. I am advised by NAMA that there are 12 proceedings currently before the Commercial Court in which the Agency has a direct involvement.

Written Answers — Department of Finance: NAMA Operations (25 Jun 2013)

Michael Noonan: I am advised by NAMA that, in accordance with its ongoing business operations planning, it is seeking proposals for appointment to a panel, under a framework agreement, from which specialist business and project support services, which are currently not available within the NTMA, may be procured as needed for the purposes of augmenting and supporting NAMA's existing business units to achieve...

Written Answers — Department of Finance: NAMA Debtors (25 Jun 2013)

Michael Noonan: I am advised by NAMA that it is aware of ten debtors petitioning for bankruptcy in the UK to date in 2013. NAMA advises that six have been declared bankrupt while a further four have had their applications adjourned.

Written Answers — Department of Finance: Bank Stress Tests (25 Jun 2013)

Michael Noonan: The Central Bank of Ireland is the supervisory body responsible for initiating regulatory led stress tests (such as PCAR). In the last PCAR, BlackRock Solutions provided independent loan loss forecasts as an input to PCAR. In addition, Barclays Capital provided input on PLAR and de-leveraging. Boston Consulting Group provided input on project management and oversight. The Central Bank of...

Written Answers — Department of Finance: IBRC Liquidation (25 Jun 2013)

Michael Noonan: The Special Liquidators are continuing the orderly and efficient wind-down of IBRC in accordance with the provisions of the IBRC Act and instructions that have been provided to the Special Liquidators by me, as Minister, under the IBRC Act 2013. I have been informed by the Special Liquidators that they expect to meet the timelines set out, namely that the valuation of IBRC’s loans...

Written Answers — Department of Finance: IBRC Liquidation (25 Jun 2013)

Michael Noonan: There is an obligation on the Special Liquidators to ensure that maximum value is extracted from loan sales and they are currently devising a process to ensure they meet this obligation. The Special Liquidators are in the process of obtaining suitable independent professional advisors who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. Following...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: It is assumed that the proposed increase would only apply to the married one-earner standard rate tax band and would not apply to the various other classes of standard rate tax bands such as the single and widowed persons, lone parents and married couples where both spouses have income. On this basis, I am advised by the Revenue Commissioners that the estimated full year cost to the...

Written Answers — Department of Finance: National Debt (25 Jun 2013)

Michael Noonan: Table A.5 of the Stability Programme Update, published in late April, contains an estimate of 4.1% for the average interest rate on general Government debt in 2014. However, it would not be appropriate to use this figure as the basis for making a realistic estimate of the debt service savings which would arise in 2014 if €10 billion of the current cash balances were used to buy back...

Written Answers — Department of Finance: Ministerial Transport (25 Jun 2013)

Michael Noonan: As and from 1 May 2011 all Cabinet Ministers, with the exception of Taoiseach, Tánaiste and Minister for Justice and Law Reform now use their own cars on official business. Prior to this date, transport for Ministers was provided via the Department of Justice and Equality. In relation to the use of my car for Ministerial travel, the total cost has been €272,461 for the period 01...

Written Answers — Department of Finance: Departmental Expenditure (25 Jun 2013)

Michael Noonan: Details of the occasions on which photographers were used in the period in question are contained in the following table: Use of Photographer Company used Details Cost Maxwell Photography Ltd. Brian Lenihan - photo required for Minster's Conference - Engaged on 30 March 2011 €424.41 Maxwell Photography Ltd. Signing of Taxation agreement with Germany -Engaged on 31 March 2011...

Written Answers — Department of Finance: Departmental Expenditure (25 Jun 2013)

Michael Noonan: In the period in question I am not aware of my Department incurring costs in relation to newspaper supplements.

Written Answers — Department of Finance: Mortgage Interest Relief Statistics (25 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the administration of the mortgage interest relief scheme does not require details on individual mortgage types and for that reason such information is not captured.

Written Answers — Department of Finance: Tax Reliefs Application (25 Jun 2013)

Michael Noonan: The figure of €250 million included in the Budget 2013 arithmetic was, as clearly stated in the Budget 2013 documentation, a provisional figure pending further detailed analysis of the changes necessary to give effect to the Programme for Government commitment to cap taxpayers’ subsidies for pension schemes that deliver pension income of more than €60,000. That analysis...

Written Answers — Department of Finance: Tax Exemptions (25 Jun 2013)

Michael Noonan: Interest on Savings Bonds is applied on maturity, which is after three years, or on encashment, which could be at any stage during the life of the Savings Bond. A higher rate of Deposit Interest Retention Tax (DIRT) applies when interest is paid less frequently than annually, as is the case with Savings Bonds, and since 1 January 2013 this rate is 36%. The standard DIRT rate of 33% applies...

Written Answers — Department of Finance: Tax Yield (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated yield to the Exchequer from increasing the Deposit Interest Retention Tax (DIRT) rate from 33% by 2%, 3%, 4% and 5% would be of the order of €35 million, €52 million, €69 million and €87 million respectively in a full year. This projection assumes no significant behavioural change by depositors or a...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: The Deputy will be aware that the Minister for Health established a Special Action Group on Obesity (SAGO) to examine and progress a number of issues to address the problem of overweight and obesity, particularly in children. I understand that SAGO are calling for consideration to be given to taxation measures being applied to all foods and drinks high in fat and sugar. A detailed assessment...

Written Answers — Department of Finance: Revenue Commissioners Investigations (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they have not been in a position to assign additional staff to audit, investigation and compliance tasks since 2011. In accordance with Government policy on public sector numbers the Revenue Commissioners are subject to the Employment Control Framework staffing reductions imposed since 2009. Revenue’s overall staffing levels have reduced...

Written Answers — Department of Finance: Banking Sector Issues (25 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 228 to 231, inclusive, together. The aim of the Single Euro Payments Area (SEPA) project is to create a single market for euro-denominated retail payments. SEPA is an EU initiative that will change the way that these payments are processed across Europe. SEPA will allow payment systems users to make euro-denominated retail electronic payments to payees...

Written Answers — Department of Finance: Departmental Contracts (19 Jun 2013)

Michael Noonan: In response to the Deputy’s question my Department provides shared accommodation services to the Department of Public Expenditure and Reform. Security services in respect of buildings occupied by staff of either Department are not outsourced. Cleaning services for buildings occupied by staff of both Departments are outsourced. My Department is in the process of completing a tender...

Written Answers — Department of Finance: NAMA Debtors (19 Jun 2013)

Michael Noonan: I have been informed by PTSB that they do not use surveillance. I have been informed by AIB that it does not undertake activity of the nature outlined in pursuing borrowers. The Bank can also confirm that it complies with its obligations under Data Protection legislation in relation to information which they hold on their customers. In addition the Bank complies with all legal requirements...