Today, the National Treasury Management Agency held a pre-scheduled bond auction of €1 Billion in 10 year bonds. Total bids received today amounted to €2.452 billion which was 2.45 times the amount on offer. The Treasury Bond, which has a maturity of ten years, was sold at an annualised yield of 0.33%.
Minister Noonan proposes to amend Section 110 to protect tax base
The Minister for Finance, Michael Noonan T.D., today published a proposed amendment to Section 110 of the Taxes Consolidation Act 1997. Section 110 of the Taxes Consolidation Act 1997 sets out the regime for the taxation of special purpose companies set up to securitise assets.
02.09.16Statement by the Minister for Finance on the Government Decision to appeal the Apple State aid decision
Statement by the Minister for Finance on the Government Decision to appeal the Apple State aid decision
The Minister for Finance, Michael Noonan T.D. today announced that the Government has decided to appeal the decision of the European Commission on the Apple State aid case.
- End-August 2016 saw the Exchequer record a deficit of €329 million as compared to a deficit of €1,291 million in the same period last year.
- This €962 million year-on-year improvement in the Exchequer balance is driven primarily by a year-on-year increase in tax revenue, albeit partially offset by increased voted expenditure and reduced non-tax revenue.
Minister Noonan disagrees profoundly with Commission on Apple
What has happened?
The European Commission has today issued a negative decision in the Apple State aid case.
Ireland has been instructed by the European Commission to recover up to €13bn of alleged state aid from the company covering a ten year period.
Minister Noonan welcomes positive growth in numbers of people at work
- The level of employment now exceeds 2 million - the highest level since Q4 2008
- Employment in Q2 is up 1.0% - an additional 20,000 jobs relative to the first quarter of 2016
- The numbers in employment in Q2 are up by just over 56,000 (or 2.9%) in annual terms
Minister of State Eoghan Murphy highlights progress on International Financial Services
Minister of State for Financial Services Eoghan Murphy today welcomed publication of the IFS2020 Q1 2016 and Q2 2016 progress reports on the implementation of IFS2020, the Government’s Strategy for Ireland’s International Financial Services (IFS) sector.
- End-July 2016 saw the Exchequer record a surplus of €862 million as compared to a deficit of €648 million in the same period last year.
- This €1,509 million year-on-year improvement in the Exchequer balance is driven primarily by a year-on-year increase in tax revenue, albeit partially offset by increased voted expenditure and reduced non-tax revenue.
Minister Noonan and IMF agree on economic outlook
The Minister of Finance, Mr. Michael Noonan T.D. has today welcomed the publication by the International Monetary Fund of a range of reports which are each designed to help protect the economic and financial well-being of our citizens and all of which have aligned with the Government’s own assessments.
Minister Noonan Welcomes AIB Repayment of €1.6 Billion plus interest