Results 4,201-4,220 of 27,019 for speaker:Michael Noonan

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (18 May 2016)

Michael Noonan: As the Deputy is aware, the  Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 deliberately did not include owners of credit within its remit. However, relevant borrowers, whose loans are sold to third parties, maintain the same regulatory protections they had prior to the sale, including under the various statutory codes, such as the consumer protection code, code of...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (18 May 2016)

Michael Noonan: When we were drafting the Bill, as the Deputy is aware, the legislation deliberately regulated the interface with the borrower. If the owner acts as his or her own agent, he or she is caught in the legislation. If the owner instructs the regulator to do anything contrary to law, penalties are applied. Since our last conversation some weeks ago, I have gone over it again and I cannot see...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (18 May 2016)

Michael Noonan: The counter argument is that if the owner acts as his or her own agent, he or she is caught by the legislation. Given that the owner is hands-off in terms of the interface with the borrower, he or she cannot act as the Deputy suggests he or she may. If the owner crosses the line and begins to act as the Deputy says he or she may act, he or she is caught by the legislation. If the Deputy is...

Ceisteanna - Questions - Priority Questions: Code of Conduct on Mortgage Arrears (18 May 2016)

Michael Noonan: The Central Bank's code of conduct on mortgage arrears, CCMA, provides a strong consumer protection framework to ensure that each borrower who is experiencing genuine difficulty in meeting the repayments on a mortgage secured on a primary home is treated in a timely, transparent and fair manner by lenders. The CCMA recognises that it is in the interests of borrowers and lenders to...

An Teanga Gaeilge: Statements (18 May 2016)

Michael Noonan: Tá níos mó Gaeilge anseo ná mar atá-----

An Teanga Gaeilge: Statements (18 May 2016)

Michael Noonan: Is féidir é a chur-----

An Teanga Gaeilge: Statements (18 May 2016)

Michael Noonan: Fáiltím roimh an deis Iabhairt faoin nGaeilge sa Dáil. Tá sé tráthúil go bhfuil an deis seo againn, tráth a bhfuil Rialtas nua ag dul i mbun oibre agus clár Rialtais cuimsitheach le cur i bhfeidhm. Tá spriocanna sonracha leagtha síos sa chlár sin maidir le forfheidhmhiú na Straitéise 20 Bliain don Ghaeilge, cruthú...

Written Answers — Department of Finance: Tax Avoidance (18 May 2016)

Michael Noonan: A significant volume of information has recently come into the public domain relating to Panama. As is the case when any such information comes to their attention, it is a matter for the Revenue Commissioners to examine this information. It would be a matter for the Revenue Commissioners to decide whether Irish tax has been avoided and, if so, whether the arrangements should be...

Written Answers — Department of Finance: Programme for Government Initiatives (18 May 2016)

Michael Noonan: Officials in my Department are currently reviewing the content of the Programme for Government and, in this case, the matter of the establishment of a rainy day fund. This commitment forms part of the stated aim of this and the previous Government to maintain sound public finances. In considering this commitment, my officials are examining the necessary key features of...

Written Answers — Department of Finance: Programme for Government Initiatives (18 May 2016)

Michael Noonan: Officials in my Department are currently reviewing the content of the Programme for Government and, in this case, the matter of the establishment of a rainy day fund. This commitment forms part of the stated aim of this and the previous Government to maintain sound public finances. In considering the quantum of the rainy day fund, my officials are taking account of how the fund...

Written Answers — Department of Finance: NAMA Assets Sale (18 May 2016)

Michael Noonan: I would clarify, for the Deputy, that my statement at the Housing and Homelessness Committee, was stating the fact that such sales, regardless of the ultimate purchaser, are conducted on the open market, thus allowing all interested parties to bid. It should also be noted that it is a decision for NAMA, in line with its independent statutory commercial mandate, to...

Written Answers — Department of Finance: Economic Growth Rate (18 May 2016)

Michael Noonan: In general, recent indicators have been very positive, indicating the economic recovery is strengthening in a sustainable manner. In the Stability Programme Update, published at the end of April, my Department forecast that the economy would grow by 4.9 per cent in 2016, by 3.9 per cent in 2017, and by 3.25 per cent on average over the remainder of the forecast...

Written Answers — Department of Finance: Central Bank of Ireland (18 May 2016)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) provides a strong consumer protection framework to ensure that each borrower who is experiencing genuine difficulty in meeting the repayments on a mortgage secured on a primary home is treated in a timely, transparent and fair manner by lenders.  The CCMA recognises that it is in the interests of borrowers and lenders to...

Written Answers — Department of Finance: Pyrite Issues (18 May 2016)

Michael Noonan: The qualifying criteria in respect of exemption from Local Property Tax (LPT) for properties with 'significant pyritic damage' were modified by the Finance (Local Property Tax) (Amendment) Act 2015. The Act modified the qualifying criteria to include properties where: 1. a certificate of damage has been completed by a competent person as set down in the relevant Regulations or, 2....

Written Answers — Department of Finance: Credit Unions (18 May 2016)

Michael Noonan: Credit unions have a key role to play in providing access to credit and other important services in local communities throughout the country. As Minister for Finance I recognise this and have put in place a number of measures to ensure that credit unions can continue to provide these vital services to their members and to ensure the stability of the sector into the future. These...

Written Answers — Department of Finance: Loan Books Purchasers (18 May 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'.  Credit Servicing Firms are now...

Written Answers — Department of Finance: Mortgage Interest Rates (18 May 2016)

Michael Noonan: As the Deputy is aware, the Programme for Government makes it clear that it is not ethically acceptable for Irish banks to charge excessive interest rates on standard variable rate customers. The Government has committed to take all necessary action to tackle high variable interest rates; including through establishing a new code of conduct for switching mortgage provider, administered...

Written Answers — Department of Finance: Fiscal Policy (18 May 2016)

Michael Noonan: I do not intend to seek a break in the fiscal rules, which are designed to ensure stable public finances that underpin sustainable economic growth.  There are provisions in the fiscal rules that are designed to promote public investment. Within the expenditure benchmark pillar of the fiscal rules, capital investment in respect of capital formation is granted favourable...

Written Answers — Department of Finance: Tax Credits (18 May 2016)

Michael Noonan: There is no general tax credit in respect of the care of a child available to cohabiting parents, whether married or unmarried, returning to the workforce. The Deputy will be aware that childcare is often a consideration for a parent returning to work, particularly in the case of the second parent. The Early Childhood Care and Education Programme, which is operated by my colleague, the...

Written Answers — Department of Finance: Mortgage Interest Rates (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 38, 42 and 51 together. In relation to mortgage interest rates, the Programme for Government makes it clear that it is not ethically acceptable for Irish banks to charge excessive interest rates on standard variable rate customers. The Government has committed to take all necessary action to tackle high variable interest rates; including through...