Results 15,781-15,800 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Currency Circulation (28 May 2013)

Michael Noonan: The information requested by the Deputy is set out in the following spreadsheet. Figures for 2002 and 2003 are not available. 1c 2c 5c 10c 20c 50c €1 €2 Total 2002* Breakdown not available 531 million* 2003* Breakdown not available 583 million* 2004 200,977,926 158,521,744 69,150,616 62,284,339 54,744,099...

Written Answers — Department of Finance: Bank Guarantee Scheme Termination (28 May 2013)

Michael Noonan: As the Deputy will be aware the Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009 (ELG Scheme) issuance period for eligible liabilities ended at midnight on 28 March, 2013. Eligible liabilities covered under the Scheme which were incurred up to that time continue to be covered up to their maturity date which could be up to 5 years' maximum from the date the liability was...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: I propose to take Questions Nos. 197 to 200, inclusive, together. Retirement relief for certain sportspersons was introduced in Finance Act 2002. It provides for relief to be given for any tax year by way of a deduction equal to 40% of the sportsperson’s gross earnings, before expenses, from direct participation in their sport. The relief is given in the tax year in which the...

Written Answers — Department of Finance: IFSC Clearing House Group (28 May 2013)

Michael Noonan: The IFSC Clearing House Group and its four working groups operate under the aegis of the Department of an Taoiseach rather than my Department. I am advised by that Department that it is providing a reply to the Deputy's question.

Written Answers — Department of Finance: National Pensions Reserve Fund Administration (28 May 2013)

Michael Noonan: The National Pensions Reserve Fund (NPRF) was established in 2001 under the National Pensions Reserve Fund Act 2000. As the Deputy will be aware, the Government has decided to establish the Ireland Strategic Investment Fund (ISIF) which will absorb the NPRF. Officials of my Department are currently preparing the legislation to create the ISIF with an Ireland-focused commercial investment...

Written Answers — Department of Finance: General Government Debt (28 May 2013)

Michael Noonan: The most recent period for which data is available on the general government debt is the last quarter of 2012. A detailed breakdown of the composition of general government debt and resultant pie chart is available on page 24 of the Irish Stability Programme April 2013 Update. The corresponding data requested by the Deputy is listed in the table. - 2012 €bn Government Bonds 87.9...

Written Answers — Department of Finance: General Government Debt (28 May 2013)

Michael Noonan: National debt is essentially the debt of the Exchequer and is a subset of general government debt. General government debt is the measure of the total debt of the State used for comparative purposes across the European Union. The latest forecasts available going out to 2019, have been published recently in the Stability Programme Update (SPU). The table restates the forecast for general...

Written Answers — Department of Finance: Departmental Staff Numbers (28 May 2013)

Michael Noonan: At 30 April 2008, my Department employed 623.57 Full-Time Equivalents (FTE). At 30 April 2013, the figure was 324.76. I have been advised by the Central Bank that at 23 April 2013 the Central Bank employed 1,393 staff- staff numbers at end-December 2008 were 1022.5. The Revenue Commissioners have provided me with the following table in response to the Deputy’s question. Table:...

Written Answers — Department of Finance: General Government Debt (28 May 2013)

Michael Noonan: Those persons/entities holding Irish Government debt would be considered Ireland’s main creditors. The most recent estimate of Gross General Government Debt is for end 2012, when it stood at €192.5 billion. The largest components of Gross General Government Debt at end 2012, as shown in the table, were Governments bonds and EU/IMF Programme loans. With regard to the ownership...

Written Answers — Department of Finance: General Government Debt (28 May 2013)

Michael Noonan: The projected general government debt to GDP ratio for the periods 2012 to 2016 and 2016 to 2019 are available on pages 54 and 49, respectively, of the Irish Stability Programme April 2013 Update. The corresponding data requested by the Deputy relating to the expected debt to GDP ratio for each year for the next five years is listed in the table. Year Projected Debt To GDP % 2013 123.3...

Written Answers — Department of Finance: Economic Growth Rate (28 May 2013)

Michael Noonan: The Department’s latest growth forecasts, in both GDP and GNP terms, are outlined below. The Department’s latest macro-economic forecasts were published on April 30 in the Irish Stability Programme - April 2013 Update . The publication can be accessed on the Department’s website at www.finance.gov.ie. Year-on-year percentage change - 2013 2014 2015 2016 Real...

Written Answers — Department of Finance: Banking Sector Issues (28 May 2013)

Michael Noonan: The percentage of non-performing loans in AIB and ptsb are set out in the table. Bank Non-Performing Loan % Dec 2012 AIB 33% PTSB 20% The Deputy should note that the banks provide further details regarding the non-performing loan portfolios in their annual report and accounts.

Written Answers — Department of Finance: Mortgage Arrears Rate (28 May 2013)

Michael Noonan: The Central Bank commenced the quarterly publication of mortgage and mortgage arrears data from the period ending September 2009. The most recent available data, which is for the quarter ending December 2012, indicates that 11.9% of PDH mortgages and 18.9% of BTL mortgages were in arrears of more than 90 days. The full range of published mortgage arrears data is available on the Central...

Written Answers — Department of Finance: Property Taxation Exemptions (28 May 2013)

Michael Noonan: Based on the information supplied by the Deputy it is not possible to provide a definitive reply. However, the following general information may be useful. Section 10B of the Finance (Local Property Tax) Act 2012 (as amended) provides that an exemption from the charge to LPT may apply to a residential property purchased, built or adapted to make it suitable for occupation by a permanently...

Written Answers — Department of Finance: Property Taxation Administration (28 May 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012 (as amended) provides that a liability for Local Property Tax (LPT) will arise where a person owns a residential property on the liability date, which is 1 May 2013 for the year 2013, and, for subsequent years, 1 November in the preceding year. I am advised by the Revenue Commissioners that where a residential property is purchased under the equity...

Written Answers — Department of Finance: Tax Code (28 May 2013)

Michael Noonan: Any proposals to maintain the 9% rate into 2014 will be considered in the context of Budget 2014.

Topical Issue Debate: State Banking Sector (23 May 2013)

Michael Noonan: The situation may be worse than the Deputies who have raised the issue are aware. I am informed by Permanent TSB that the 2012 annual report showed a deficit of €127 million on the pension schemes. However, new accounting rules which came into effect from 1 January 2013 will cause this deficit to rise. As permitted under the accounting standard which applied in 2012 - IAS 19 -...

Topical Issue Debate: State Banking Sector (23 May 2013)

Michael Noonan: When publishing the review of remuneration practices and frameworks at the covered institutions on 12 March 2013, I indicated that the Government had formed the view that with the remaining covered institutions still incurring losses, it was an inevitable conclusion that the cost base of the institutions needs to be reduced further. This is essential if they are to return to profitability,...

Topical Issue Debate: Corporation Tax (23 May 2013)

Michael Noonan: The corporation tax paid by some large multinational corporations and the rate at which they pay that tax is an issue that has attracted a lot of public and media attention recently. Every country in the world has its own particular tax system. These systems have been put in place and developed over the years to reflect their own circumstances. Some multinational corporations, with the...

Topical Issue Debate: Corporation Tax (23 May 2013)

Michael Noonan: I believe the House appreciates that the taxation affairs of individuals and of individual companies are a matter that is confidential between the individual or individual companies and the Revenue Commissioners. The rate of tax that is chargeable in Ireland on the profits that are made by a company in Ireland is 12.5%. It is only when the global profits of a company are added together, and...