Results 4,801-4,820 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: EU-IMF Programme of Support (14 Jan 2016)

Michael Noonan: There have been a number of improvements to the terms of our EU-IMF Programme loans since they were initially agreed in late 2010. These changes have included reductions of the interest rates and, in the case of the EU facilities, extensions of maturities. While not part of the EU-IMF Programme we have also negotiated the replacement of the Promissory Notes issued to the Irish Bank Resolution...

Written Answers — Department of Finance: Tax and Social Welfare Codes (14 Jan 2016)

Michael Noonan: In order to maintain the public finances on a sustainable footing, around €30 billion of consolidation measures, of which €11 billion were revenue measures, were implemented over a seven year period. The policies successfully implemented by this Government have seen the restoration of a strongly growing economy and this has been reflected in both our improved...

Written Answers — Department of Finance: Infrastructure and Capital Investment Programme (14 Jan 2016)

Michael Noonan: Unless provided for by specific legislation, all revenues including the proceeds of Government borrowing are paid into the Exchequer's Central Fund.  Revenues are not linked to specific projects but rather are used to fund Government expenditure generally, including capital and infrastructural expenditure. The National Treasury Management Agency (NTMA) has advised that...

Written Answers — Department of Finance: Credit Availability (14 Jan 2016)

Michael Noonan: As the Deputy is aware, the Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. Officials from my Department regularly meet...

Written Answers — Department of Finance: Bank Charges (14 Jan 2016)

Michael Noonan: All credit institutions in Ireland are independent commercial entities and I have no statutory role in relation to the charges applied by credit institutions. Section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit institutions and bureaux de change must make a submission to the Central Bank if they wish to introduce any new...

Written Answers — Department of Finance: Mortgage Interest Rates (14 Jan 2016)

Michael Noonan: Firstly, I assume that the Deputy is referring to mortgage interest rates which I will discuss below. However, for all loans I would encourage prospective borrowers to shop around for the best deal available. In this regard the Competition and Consumer Protection (CCPC) website, has very useful information for borrowers. With regard to mortgage interest rates, I would like to confirm to the...

Written Answers — Department of Finance: National Treasury Management Agency Remuneration (14 Jan 2016)

Michael Noonan: The table below shows the number of NTMA staff (excluding those assigned to NAMA) by relevant band.  The table shows the number of staff falling within the bands on the basis of their base salary and/or their total remuneration. The figures are inclusive of staff who left the NTMA during 2015. NTMA excluding NAMA Relevant Band Salary Remuneration 1 €100,001 -...

Written Answers — Department of Finance: NAMA Staff Remuneration (14 Jan 2016)

Michael Noonan: All staff in the National Asset Management Agency are employed by the NTMA, and assigned to NAMA under Section 42 of the NAMA Act 2009. The number of staff assigned to NAMA at the end of 2014 and 2015 are set out in the table below. Year Headcount as at year end 2014 369 2015 341 The table below shows the number of NAMA Officers by relevant band. The numbers include NAMA Officers who...

Written Answers — Department of Finance: NAMA Staff Data (14 Jan 2016)

Michael Noonan: I am advised that 50 members of staff assigned to NAMA were approved for voluntary redundancy in late 2015. No payments have yet been made but the redundancy and retention payments due to the departing staff aggregate to gross before tax of €2.1m, of which €1.3m comprises redundancy payments and €0.8m comprises retention payments. I do not propose to provide a...

Written Answers — Department of Finance: Tax Exemptions (13 Jan 2016)

Michael Noonan: I am advised by Revenue that Section 2 of the Charities Act 2009 defines the criteria of a charitable organisation and also defines bodies that are excluded from the qualifying definition. Revenue has also advised me that the granting of charitable status is a question for the Charity Regulator since October 2014. The 'exclusion' includes 'approved bodies of persons' (such as sports...

Written Answers — Department of Finance: Stability and Growth Pact (13 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 185 and 186 together. Under the Stability and Growth Pact (SGP), Ireland is obliged to be at or make rapid progress towards its Medium Term Objective (MTO) of a balanced budget in structural terms. This obligation also stems from the Fiscal Compact, to which Ireland acceded following the referendum in 2012, and has also been enshrined in domestic...

Written Answers — Department of Finance: Flood Risk Insurance Cover (13 Jan 2016)

Michael Noonan: The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial...

Written Answers — Department of Finance: Disabled Drivers Grant Appeals (13 Jan 2016)

Michael Noonan: The Disabled Drivers Medical Board of Appeal has informed me that the person concerned has an appointment for an appeal hearing at 2PM on 3 March 2016. Regulation 6(1)(e) of the Disabled Drivers and Disabled Passengers (Tax Concession) Regulations 1994 (S.I. 353 of 1994) mandates that the Medical Board of Appeal is independent in the exercise of its functions.

Written Answers — Department of Finance: Customs and Excise Staff (13 Jan 2016)

Michael Noonan: I am satisfied that Revenue is very active in the area of targeting and combatting drugs smuggling and is committed to playing an active role, in conjunction with other relevant agencies, in working against this criminal activity and those responsible for it. The Deputy will be aware from my reply to his previous Question in this matter that Revenue has an enforcement presence at all key...

Written Answers — Department of Finance: Customs and Excise Controls (13 Jan 2016)

Michael Noonan: I propose to take Questions Nos. 190 and 191 together. I am advised by Revenue that suspicion of ingestion would be informed by interview with the passenger, intelligence, passenger behaviour and/or other checks by way, for example, of detector dogs, baggage x-ray or search of the person. The question of invasive tests or examinations based on biological samples (urine, saliva, etc.)...

Written Answers — Department of Finance: Tax Reliefs Availability (13 Jan 2016)

Michael Noonan: I understand the Deputy to be referring to the Travel Pass scheme. The scheme operates on the basis that an employer pays for the Travel Pass on behalf of an employee at the start of the year and the payment is deducted from the employee's emoluments over the course of the year.  The incentive operates on the basis that, although such a payment out of an employee's income should be made...

Written Answers — Department of Finance: Mortgage Interest Relief Application (13 Jan 2016)

Michael Noonan: This question relates to the restriction applying to residential lettings, whereby the deductibility of interest in computing taxable rental income from residential property (insofar as it would otherwise be allowable) is limited to 75% of such interest. The restriction was introduced in the April 2009 supplementary budget in respect of all residential lettings as part of an urgent...

Written Answers — Department of Finance: Tax Reliefs Application (13 Jan 2016)

Michael Noonan: I am advised by the Revenue Commissioners that the person in question made a claim under the Home Renovation Incentive Scheme in 2015 and she has been granted an income tax credit split evenly over the 2015 and 2016 tax years. If full use of the credit cannot be made in those two years, any unused credit can be carried forward to subsequent years. There is no provision for offsetting this...

Written Answers — Department of Finance: Insurance Industry Regulation (13 Jan 2016)

Michael Noonan: I am advised by the Central Bank of Ireland that its 2012 Consumer Protection Code requires that all regulated entities seek to avoid conflicts of interest.  Where conflicts of interest arise and cannot be reasonably avoided, a regulated entity must disclose the general nature of the conflict of interest to consumers and must ensure that the conflict of interest does not result in damage...

Written Answers — Department of Finance: Insurance Industry (13 Jan 2016)

Michael Noonan: The Central Bank of Ireland has advised me that, due to the confidentiality provisions set out in section 33AK of the Central Bank Act 1942, it cannot comment on individual firms. However, it should be noted that when an intermediary firm is one registered under the Insurance Mediation Regulations, there is no requirement to inform the Central Bank when the intermediary commences or...