Results 6,021-6,040 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Housing Issues (29 Sep 2015)

Michael Noonan: The proceeds of all borrowings by the Exchequer, as well as tax revenues, non-tax revenues and other receipts are lodged to the Exchequer account at the Central Bank of Ireland to fund on-going Government expenditure. The National Treasury Management Agency (NTMA) has advised that project-specific bonds issued by the State linked to a specific project and which are serviced and repaid...

Written Answers — Department of Finance: Budget 2016 (29 Sep 2015)

Michael Noonan: Firstly, I would point out that I and the rest of my Government colleagues have always acknowledged the sacrifices and efforts made by the Irish people since 2008 in addressing the crisis in the public finances. As the Deputy will be aware, the overarching priority for this Government in recent years has been to return stability to the public finances, while also ensuring...

Written Answers — Department of Finance: Mortgage Arrears Issues (29 Sep 2015)

Michael Noonan: The Deputy will be aware that the Central Bank published Residential Mortgage Arrears and Repossessions Statistics for quarter 2 of this year on 02 September last.  This publication provided further evidence that lenders are continuing to facilitate borrowers with mortgage arrears.  In summary, the position is: Quarter 2 2015 marks the eight consecutive quarter of decline in...

Written Answers — Department of Finance: Credit Availability (29 Sep 2015)

Michael Noonan: This 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 facilities from a diverse range of bank and non-bank sources. Having completed a process of deleveraging, both AIB...

Written Answers — Department of Finance: Bank Charges (29 Sep 2015)

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: Credit Review Office Appeal Numbers (29 Sep 2015)

Michael Noonan: As the Deputy may have noted from my reply to his earlier question on 22 June 2015, the Credit Review Office (CRO) assists SME or farm borrowers who have had an application for credit of up to €3m declined or reduced by AIB, Bank of Ireland or Ulster Bank (who joined the review process on 1 June 2015) and who feel that they have a viable business...

Written Answers — Department of Finance: EU Membership (29 Sep 2015)

Michael Noonan: The Government's position on developments in relation to British membership of the EU has been clearly articulated, in particular 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. This is important for both our economy and the ongoing development of excellent relations between Ireland and the UK. It is the...

Written Answers — Department of Finance: Property Tax (29 Sep 2015)

Michael Noonan: I propose to take Questions Nos. 296 and 301 to 304, inclusive, together. In relation to Question 33391-15, I am advised by the Revenue Commissioners that the Local Property Tax (LPT) is forecast to collect €440 million in 2015. With reference to Questions 33452-15, 33453-15 and 33454-15, I am further advised that LPT statistical data are available from the statistics webpage of the...

Written Answers — Department of Finance: Tax Collection (29 Sep 2015)

Michael Noonan: Revenue collected over €41 billion in net receipts in 2014, while its compliance programmes generated €610 million in tax, interest and penalties. The level of undisputed debt (excluding appeals) is the lowest among OECD countries, having fallen from 3.7% of net collection in 2011 to 2.1% in 2014.  The cost of tax administration in Ireland, estimated at 0.85% of collection,...

Written Answers — Department of Finance: NAMA Social Housing Provision (29 Sep 2015)

Michael Noonan: I have no intention to repurpose NAMA or its objectives, as the Deputy is suggesting. NAMA has a well-established overriding commercial mandate to recoup the best return for the Irish taxpayer and this has not changed. However, that does not mean that NAMA does not carry out objectives, such as facilitating the delivery of residential and social housing, which are...

Written Answers — Department of Finance: Tax Credits (29 Sep 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the respective estimated first and full year costs to the Exchequer of introducing such a credit for the following amounts: €135, €200, €250, €300, €350 and €400 are set out in the following table: Credit First Year Cost €m Full Year Cost €m €135 24 45 €200 36 66...

Written Answers — Department of Finance: Property Tax Exemptions (24 Sep 2015)

Michael Noonan: I am advised by Revenue that properties located in 'unfinished' housing estates must be included on 'prescribed lists' that are approved by the Minister for the Environment, Community and Local Government in order to qualify for any exemption or waiver from Local Property Tax (LPT) or Household Charge (HHC). The 'prescribed lists' can be viewed at , and any alterations to their content are a...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (24 Sep 2015)

Michael Noonan: The Strategic Banking Corporation of Ireland (SBCI) commenced lending in March 2015 through both Bank of Ireland and Allied Irish Bank (AIB). To the end of June 2015 in excess of €44.6 million euro had been lent in lower cost loans to over 1600 SMEs across Ireland. Both AIB and Bank of Ireland are obliged to report to the SBCI the interest rate applied on each loan they advance...

Written Answers — Department of Finance: Public Sector Staff Remuneration (24 Sep 2015)

Michael Noonan: I wish to inform the Deputy that no bonus remuneration was paid to staff in my Department. In relation to bodies under the aegis of my Department the only body that has paid bonuses is the NTMA. I understand from the NTMA that it made performance-related payments in 2015 to 16 staff in respect of 2014. These payments, in aggregate, totalled €79,200. No performance related...

Written Answers — Department of Finance: Banking Sector (24 Sep 2015)

Michael Noonan: The Deputy will be aware that it is not the practice of the Minister for Finance to comment in advance on items which may or may not be part of the Budget and Finance Bill. To summarise the issue to date, I requested a report from the Central Bank on the topic which was published in May. I met with the six main mortgage lenders and outlined my view that the standard variable rate...

Written Answers — Department of Finance: Motor Tax Rates (24 Sep 2015)

Michael Noonan: Following a meeting with a representative group of the hauliers in November last year, I gave a commitment to reduce commercial road tax for heavy goods vehicles over 12 tonnes. However, it is not the practice to comment in advance of the Budget on any initiatives that might be the subject of Budget decisions.

Written Answers — Department of Finance: NAMA Staff Data (24 Sep 2015)

Michael Noonan: I am advised by NAMA that to date no staff member has left due to redundancy and therefore no payments have been made under the NAMA redundancy programme. As previously advised,  the NAMA Board has projected based on its current strategy that the total number of staff assigned to NAMA will reduce from 342 currently to 291 by the end of this year and to 125 by the end of 2016 subject to...

Written Answers — Department of Finance: Tax Yield (24 Sep 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the monthly Betting Duty yield in 2014 and for the period January to August 2015 is shown in the following table. - 2014 €m 2015 €m Jan 5.3 5.6 Feb 0.6 0.3 Mar 0.5 0.3 Apr 5.6 6.3 May 0.4 0.4 Jun 0.2 0.2 Jul 6.2 6.3 Aug 1.0 0.4 Sep -0.1 - Oct 6.1 - Nov 0.2 - Dec 0.2 - Total 26.2 19.8

Written Answers — Department of Finance: NAMA Expenditure (24 Sep 2015)

Michael Noonan: I am advised by NAMA that, to date, it has advanced €2.5 billion in new development funding to debtors and receivers across a range of commercially viable residential and commercial property development projects.  I am further advised that development funding has been advanced to, in total, 265 debtor connections.

Written Answers — Department of Finance: NAMA Operations (24 Sep 2015)

Michael Noonan: Section 227(3) of the NAMA Act requires as soon as may be after 31 December 2012 and every 5 years after that while NAMA continues to be in existence, the Minister shall assess the extent to which NAMA has made progress toward achieving its overall objectives, and decide whether continuation of NAMA is necessary having regard to the purposes of this Act. As has been referred to in...