Results 6,901-6,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Price Inflation (23 Jun 2015)

Michael Noonan: The most recent data published by the CSO indicate that national residential property prices increased by 15.8 per cent over the 12 months to April 2015. Focusing on more recent house price developments, prices decreased by 0.9 per cent in the first quarter of 2015. Data published by the Banking and Payments Federation Ireland (BPFI) indicate a continued...

Written Answers — Department of Finance: Employment Rights (23 Jun 2015)

Michael Noonan: Labour and skills contribute significantly to the competitiveness of firms in Ireland and are a primary driver of productivity and long-term competitiveness. As a result, employers are best placed to decide on the appropriate skills needs of each individual firm. On the specifics of employers obligations, the Department of Jobs, Enterprise and Innovation has responsibility for labour...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (23 Jun 2015)

Michael Noonan: Since 2011 Government policy has focused on supporting SMEs in accessing an appropriate supply of financing from both bank and non-bank sources. The following provides an overview of some incentives to encourage access to credit for small business: - The Strategic Banking Corporation of Ireland has been established to encourage small business, as an additional means of ensuring that SMEs are...

Written Answers — Department of Finance: Credit Review Office Appeal Numbers (23 Jun 2015)

Michael Noonan: As the Deputy is aware, 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 proposition. PTSB will shortly commence SME lending and will participate in the...

Written Answers — Department of Finance: Mortgage Lending (23 Jun 2015)

Michael Noonan: Recent data from Banking and Payments Federation Ireland show that €983 million in mortgage loans was drawn down in the first quarter of 2015 and that almost 90 per cent of this was in respect of owner occupier first time or mover purchasers.  From a regulatory perspective, the Central Bank of Ireland's macro prudential regulations for residential mortgage lending have...

Written Answers — Department of Finance: Economic Competitiveness (23 Jun 2015)

Michael Noonan: Substantial progress has been made in improving Ireland's competitiveness in recent years.  There has been a significant improvement in Ireland's economy-wide cost competitiveness. From the European Commission's most recent spring forecasts, it can be estimated that nominal unit labour costs in Ireland fell by nearly 8 percent between 2008...

Written Answers — Department of Finance: Bank Charges (23 Jun 2015)

Michael Noonan: As I stated in my reply to the Deputy in a previous Parliamentary Question (13599/15) on this subject on 1 April 2015, all credit institutions in Ireland are independent commercial entities. 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...

Written Answers — Department of Finance: EU Membership (23 Jun 2015)

Michael Noonan: The Government's position on developments in relation to UK 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: Tax Code (23 Jun 2015)

Michael Noonan: The tax treatment of payments made to an individual, or to that individual s estate, pursuant to the Magdalen Commission Report was set out in Section 77 of the Finance (No. 2) Act 2013.  In essence, a payment to a survivor, or to the estate of a survivor, is not a gift or inheritance and is therefore not subject to Capital Acquisitions Tax (CAT) at that point.  However, any...

Written Answers — Department of Finance: Tax Reliefs Eligibility (23 Jun 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the person concerned made a medical expenses relief claim on 12 June 2015.  Revenue has already been in contact with the person concerned regarding additional information required by them in the context of that application. When that information is received, Revenue will be in a position to consider the matter further.

Written Answers — Department of Finance: Tax Code (23 Jun 2015)

Michael Noonan: In Budget 2015, I introduced a new Road Map for Ireland's Tax Competitiveness which set out a comprehensive package of measures designed to reposition Ireland to reap the benefits of sustainable foreign direct investment in a changing international tax landscape. The Knowledge Development Box ('KDB'), was one of the measures announced in the Road Map.  I view the Knowledge...

Written Answers — Department of Finance: Tax Code (23 Jun 2015)

Michael Noonan: In Budget 2014, I announced a review of the tax supports available to the agricultural sector in Ireland in conjunction with the Minister for Agriculture, Food and the Marine Simon Coveney TD. The purpose of the review was to analyse the benefits of the various tax measures to the agriculture sector and the wider economy versus the costs and to ensure tax policy aligns with the objectives set...

Written Answers — Department of Finance: Flood Risk Insurance Cover (18 Jun 2015)

Michael Noonan: Flood Re is designed as a not-for-profit flood fund managed and financed by the insurance industry in the UK. Under the Flood Re programme insurers will transfer into the fund those homes at high risk of flooding which they feel unable to insure themselves. Under the scheme, the flood risk element of house insurance premiums for these homes will be capped according to UK council tax...

Written Answers — Department of Finance: NAMA Bonds (18 Jun 2015)

Michael Noonan: I am informed that the Special Liquidators sold the NAMA Subordinated Bonds at a price in excess of the reserve price set by an independent valuer.

Written Answers — Department of Finance: NAMA Bonds (18 Jun 2015)

Michael Noonan: The sale of IBRC assets is a matter for the Special Liquidators of IBRC who updated me and my officials on sales processes throughout the Special Liquidation of IBRC. I am advised by the Special Liquidators that they will not be providing details of the bidders and ultimate purchasers of the NAMA bonds as this information is commercially sensitive. I am further advised by NAMA...

Written Answers — Department of Finance: NAMA Property Sales (18 Jun 2015)

Michael Noonan: The timing of a property sale by a NAMA debtor or receiver is based on a professional assessment of the market in the context of NAMA's statutory commercial objective to maximise the return on its acquired loans and the property and other assets securing those loans. NAMA requires that the sale of property by debtors and receivers is, as with the sale of loans by the Agency itself, conducted...

Written Answers — Department of Finance: Tax Code (18 Jun 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: IBRC Legal Cases (18 Jun 2015)

Michael Noonan: I am advised by the Special Liquidators that they are not in a position to disclose the requested information due to commercial confidentiality. In relation to whether or not fees were incurred by the State in cases involving the company referred to in the question, my officials are in the process of ascertaining this point and will write to the Deputy directly clarifying the situation.

Written Answers — Department of Finance: Banking Sector (18 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 71 and 86 together. As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters and hence any discussions around matters such as outsourcing are a matter for the bank, the...

Written Answers — Department of Finance: IBRC Operations (18 Jun 2015)

Michael Noonan: I propose to take Questions Nos. 72 and 73 together. As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit term of reference (1b) dealing with issues of public concern: The Commission shall investigate all transactions, activities and management decisions, other than those relating solely to...