Results 3,721-3,740 of 27,019 for speaker:Michael Noonan

Other Questions: Infrastructure and Capital Investment Programme (23 Jun 2016)

Michael Noonan: On the social side are further primary and secondary schools. They are working well with public private partnerships, that is, bundles of schools, as are health centres. I am sure we can all think of a number of priorities that would apply either in our respective constituencies or nationally. We are working through an increased capital programme to fund them but we are also trying to get...

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (23 Jun 2016)

Michael Noonan: The position is that the code of conduct is statutory, having been introduced under section 117 of the Central Bank Act 1989. The issue that arose when we were negotiating the programme for Government was whether the range of options that were on offer from the regulated banks applied to the unregulated institutions that acquired mortgages. In my meeting with the Governor, I asked him if he...

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (23 Jun 2016)

Michael Noonan: The position is that there is a statutory obligation on the banks to make a range of offers, including those described by the Deputy, to people in arrears with their mortgages. The question that arose was whether the obligation to offer the full range also obliged the previously non-regulated entities to make the same range of offers. I have had discussions with the Governor of the bank,...

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (23 Jun 2016)

Michael Noonan: I am saying exactly the same thing.

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (23 Jun 2016)

Michael Noonan: I am saying the same now. I am simply pointing out that it is mandatory on the regulated banks already.

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael Noonan: The previous Government advanced the Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 to ensure that purchasers of relevant loan books must either be regulated by the Central Bank or loans purchased by non-regulated entities must be serviced by a credit servicing firm who is regulated by the Central Bank and therefore subject to the Central Bank's code of conduct. The...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael Noonan: The Government's position on developments in relation to British membership of the EU has been clearly articulated, particularly by the Taoiseach and the Minister for Foreign Affairs and Trade: we very much want the UK to remain an integral member of the Union. The UK's continued membership of the Union is a matter of strategic importance for the Government. In this regard, Departments,...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael Noonan: The immediate foreseeable effect would be the effect on the movements of money in the markets. In that context, I have had discussions with the Governor of the Central Bank and he has assured me that the Central Bank, in the context of discussions with the European Central Bank in Frankfurt, has all the necessary measures in place to deal with any contingency of that nature. Beyond that,...

Ceisteanna - Questions - Priority Questions: EU Membership (23 Jun 2016)

Michael Noonan: I share the Deputy's concerns. To put it succinctly, the downside is definite and the upside is speculative, so obviously I am on the remain side and I would like very much if that is the way it goes. We have provision for what is foreseeable tomorrow and in terms of the other negotiations over a period of time, I am sure we can share information with the Deputy as time goes by.

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (23 Jun 2016)

Michael Noonan: The code of conduct on mortgage arrears, CCMA, is a statutory code issued under section 117 of the Central Bank Act 1989. The CCMA applies to all regulated mortgage lenders operating in the State when dealing with borrowers facing or in mortgage arrears on their primary residence, including any mortgage lending activities outsourced by these lenders. The CCMA provides a strong consumer...

Summer Economic Statement 2016: Statements (23 Jun 2016)

Michael Noonan: As Members will be aware, our tax forecasts are unchanged in the recent stability programme update, SPU. In view of the strong tax revenue performance since the publication of the SPU, this increase is realistic and within the parameters of prudence. However, I should point out that not all of this additional tax revenue is of a recurring nature. The summer economic statement highlights...

Summer Economic Statement 2016: Statements (23 Jun 2016)

Michael Noonan: I welcome the opportunity to discuss the summer economic statement, which outlines the broad parameters that will underpin discussions of economic and fiscal policy over the medium term. In the short term, it sets the framework for discussions on budget 2017 over the coming months. As Members will be aware, the recent stability programme update, SPU, submitted to the European Commission in...

Written Answers — Department of Finance: EU Meetings (23 Jun 2016)

Michael Noonan: I attended the Bilderberg meeting from 10-12 June 2016 in Dresden, Germany. I, like a number of European ministers, was invited to attend given my position as Minister for Finance. For further information, I would point the deputy to the Bilderberg Meetings website () which includes information on the organisation's governance, steering committee, meetings, attendees, agendas and associated...

Written Answers — Department of Finance: Tax Code (23 Jun 2016)

Michael Noonan: The introduction of a tax on sugar-sweetened drinks (SSDs) is part of the Programme for a Partnership Government. The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending and contribute towards funding the reduction in personal taxes. My officials, together with officials from the Department of Health and the Revenue...

Written Answers — Department of Finance: Banking Sector Remuneration (23 Jun 2016)

Michael Noonan: In the first instance, I wish to confirm for the Deputy that the Government policy on remuneration at the banks which has been in place since mid-2011 is fully enforced. The central plank of this policy, which is the pay cap of €500,000, was subject to pre-existing contractual rights. The current remuneration of Bank of Ireland's CEO, which has not been increased since that...

Written Answers — Department of Finance: NAMA Loans Sale (23 Jun 2016)

Michael Noonan: NAMA's continued progress is evident in the recently published 2015 Annual Report and Accounts. NAMA's results highlight the continued achievements of NAMA and the positive impact NAMA is having on Ireland's sustained recovery in carrying out its mandate both in terms of debt redemption, the delivery of the Dublin Docklands SDZ and the commercial funding of...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Jun 2016)

Michael Noonan: As the Deputy will be aware, the Central Bank examination of tracker mortgage related issues covers all lenders which offered tracker mortgages to customers, including both for the family home and investment properties from when the lenders started to offer such mortgages, up to the end of 2015.  The purpose of the Examination is to identify any cases where: - customers'...

Written Answers — Department of Finance: VAT Rate Reductions (23 Jun 2016)

Michael Noonan: The VAT treatment of goods and services is subject to the requirements of EU VAT law (primarily Council Directive 2006/112/EC) with which Irish VAT law must comply. Article 110 of the EU VAT Directive permits Member States to retain historical zero-rated VAT treatment where a good or service was zero rated on and from 1 January 1991, but no new zero rates can be introduced. As a...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (23 Jun 2016)

Michael Noonan: Small and Medium Enterprises (SMEs) are the lifeblood of the Irish Economy. They make up the vast majority of businesses in Ireland and account for approximately seven in every ten jobs. Supporting the finance needs of these businesses is therefore a priority for this Government. The Strategic Banking Corporation of Ireland (SBCI) was incorporated in September 2014 and its goal is to...

Written Answers — Department of Finance: NAMA Social Housing Provision (23 Jun 2016)

Michael Noonan: It is important not to confuse Section 2, the purposes of the NAMA Act, with Section 10, the purposes of NAMA and that the purposes of NAMA were established in fulfilment of the purposes of the Act. It is precisely through the establishment of NAMA's commercial mandate that the purposes of the Act, including "to contribute to the social and economic development of...