Results 7,681-7,700 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Post Office Network (21 Apr 2015)

Michael Noonan: Issues related to An Post are generally a matter for my colleague the Minister for Communications, Energy and Natural Resources. The Strategy for Financial Inclusion called for the nationwide launch of a Standard Bank Account as a first step in promoting Financial Inclusion. A pilot project for a Basic Bank Account was run, which finished on 31 March 2013 after a 9-month pilot period. A...

Written Answers — Department of Finance: Public Sector Pensions Data (21 Apr 2015)

Michael Noonan: The information requested by the Deputy for the agencies under the aegis of my Department is set out in the tables below: National Treasury Management Agency (NTMA): Year 2008 2009 2010 2011 2012 2013 2014 Number of retired public service pensions in payment 6 12 11 12 13 14 16 Central Bank: Year 2008 2009 2010 2011 2012 2013 2014 Number of retired public service pensions in payment (as...

Written Answers — Department of Finance: Public Sector Pensions Data (21 Apr 2015)

Michael Noonan: The information requested by the Deputy for the agencies under the aegis of my Department is set out in the tables below: National Treasury Management Agency (NTMA): Total value of public sector pensions in payment Average public sector pension in 2014 €1,316,738 €82,296 Central Bank: Total value of public sector pensions in payment Average public sector pension in 2014 ...

Topical Issue Debate: Mortgage Interest Rates (16 Apr 2015)

Michael Noonan: I thank the Deputy for raising this important issue. As he is aware, the statement of Government priorities 2014-16 recognised the need for competition in the banking sector to put pressure on banks operating in Ireland to reduce the interest rates charged. This issue was also discussed in the context of a Private Members' motion brought forward in the House just before Easter. It has also...

Topical Issue Debate: Mortgage Interest Rates (16 Apr 2015)

Michael Noonan: I thank the Deputy for his comments. Some of the issues raised in his second intervention will I hope be addressed by the banking inquiry. He delved into very important but more general issues than variable mortgage rates. As I said, the Governor of the Central Bank informed me that work had commenced in the Central Bank on this very issue. It is establishing the fact based position in...

Topical Issue Debate: Mortgage Interest Rates (16 Apr 2015)

Michael Noonan: -----I have committed to publishing the results which will provide the evidence based position in having discussions with the banks.

Topical Issue Debate: Mortgage Interest Rates (16 Apr 2015)

Michael Noonan: I think we are all of the view that the margin is excessive and that it has to be reduced.

Written Answers — Department of Finance: Tax Code (16 Apr 2015)

Michael Noonan: Income Tax is imposed by section 12 of the Taxes Consolidation Act 1997 (TCA) and Universal Social Charge is imposed by section 531AM of the TCA. In the case of Income Tax, the tax is charged on an individual's income from all sources, as calculated in accordance with provisions of the Income Tax Acts. Universal Social Charge is charged on an individual's income after any relief for...

Written Answers — Department of Finance: Bank Restructuring (16 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 69 to 72, inclusive, together. Firstly I would like to welcome the approval by the European Commission of the Permanent TSB Restructuring Plan last week. The approval is an important external validation that the plan contains a credible strategy to return Permanent TSB to profitability and brings to an end a period of uncertainty about...

Written Answers — Department of Finance: Mortgage Lending (16 Apr 2015)

Michael Noonan: The Central Bank has informed me that a first time buyer is defined as a borrower to whom no housing loan has ever before been advanced (in Ireland or abroad). Where the borrower under a housing loan is more than one person and one or more of those persons has previously been advanced a housing loan, none of those persons is a first-time buyer. The Central Bank has decided to...

Written Answers — Department of Finance: Tax Settlements (16 Apr 2015)

Michael Noonan: I am advised by the Appeal Commissioners that they do not maintain records which would facilitate a response in relation to the number or proportion of cases fully or partially upheld or rejected. I am informed by the Revenue Commissioners that information in relation to appeal cases is not recorded in the format you requested for all of the years in question.  However, the Revenue...

Written Answers — Department of Finance: Living City Initiative (16 Apr 2015)

Michael Noonan: The Living City Initiative was legislated for in Finance Act 2013 but will only come into operation on the passing of a Commencement Order. The reason for the delay in the initiative coming into effect was related to EU State Aid approval. A number of amendments were made to the Living City Initiative in Finance Act 2014. In particular, the Act incorporated new limits on the amount of...

Written Answers — Department of Finance: Bank Restructuring (16 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. As the Deputy is aware, Permanent TSB has published details of the key elements of the Restructuring Plan on its website at . As part of the Restructuring Plan, Permanent TSB will commit to reduce the value of defaulted Irish tracker mortgages through a combination of measures, including cures and asset sales by a predetermined date and...

Written Answers — Department of Finance: Tax Code (16 Apr 2015)

Michael Noonan: Section 472B of the Taxes Consolidation Act 1997 provides, subject to certain conditions, for an annual income tax allowance of €6,350 for seafarers. The allowance is conditional on a seafarer being at sea for at least 169 days in a tax year.  The duties must be wholly performed aboard sea-going ships on an international voyage.  A sea-going ship is one that is registered in...

Written Answers — Department of Finance: Mortgage Interest Rates (16 Apr 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a significant shareholding - are independent commercial entities. I have no statutory role in relation to regulated financial institutions passing on the European Central Bank interest rate change or to the mortgage interest rates charged.  It is a commercial...

Written Answers — Department of Finance: Financial Services Regulation (16 Apr 2015)

Michael Noonan: In 2011 the new Fitness and Probity regime was rolled out by the Central Bank in accordance with the provisions of the Central Bank Reform Act 2010. The regime provides for new powers to be exercised by the Central Bank to ensure the fitness and probity of nominees to key positions within financial service providers and of key office-holders within those providers.  The Central Bank...

Written Answers — Department of Finance: Banks Recapitalisation (16 Apr 2015)

Michael Noonan: As you will be aware, the Euro-area Heads of State or Government (HoSG) agreed in June 2012 that "it is imperative to break the vicious circle between banks and sovereigns" and that when a Single Supervisory Mechanism, involving the ECB, is in place and operational, the European Stability Mechanism (ESM) could recapitalize banks directly. On 8 December 2014, the ESM Board of Governors...

Written Answers — Department of Finance: Tax Yield (16 Apr 2015)

Michael Noonan: The information requested by the Deputy in relation to the yield from Stamp Duty on residential and non-residential property, together with the numbers of transactions, is as set out in the following tables. It is not possible to separately identify commercial property from within the broader non-residential category. Residential Property Year €m Number of Transactions 2011 45...

Written Answers — Department of Finance: IBRC Liquidation (16 Apr 2015)

Michael Noonan: I have been advised by the Special Liquidators of IBRC that a mediation meeting with certain of the former directors of Irish Nationwide Building Society took place. However given that mediation is a totally confidential process, the Special Liquidators are unable to comment further on this matter.

Written Answers — Department of Finance: IBRC Legal Cases (16 Apr 2015)

Michael Noonan: I have been advised by the Special Liquidators that they have issued proceedings against the person referred to in the question and the Discovery Motion was heard in the Commercial Court on Tuesday (14 April 2015). Neither I nor the Special Liquidators are in a position to provide any further information on this matter.