Results 7,841-7,860 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Debt Restructuring (1 Apr 2015)

Michael Noonan: If the Deputy's question is in relation to the operation of the Personal Insolvency legislation, I should point out that the implementation and monitoring of this legislation comes under the responsibility of my colleague, Frances Fitzgerald, TD, Minister for Justice and Equality.  The Deputy should, therefore, direct his question to Minister Fitzgerald. The Central Bank's Code of...

Written Answers — Department of Finance: NAMA Property Leases (1 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 49 to 51, inclusive, together. I am advised by NAMA that the 370 applications that it has received to date under its rent abatement initiative relate to 56 debtor connections, eight of which are fully enforced and a further 24 are partially enforced. As the Deputy is aware, NAMA has acquired loans and is not the owner/operator of properties.  Properties...

Written Answers — Department of Finance: Mortgage Arrears Report Implementation (1 Apr 2015)

Michael Noonan: Subject to compliance with relevant statutory or regulatory requirements, decisions on credit are a commercial matter for the individual financial institution.  Accordingly, the particular policies and procedures put in place by credit institutions to deal with their impaired or distressed loans are commercial matters for the individual credit institution and I have no role in such...

Written Answers — Department of Finance: House Prices (1 Apr 2015)

Michael Noonan: As the Deputy will be aware, the Central Bank of Ireland has put in place new macro prudential regulations for residential mortgage lending. These regulations provide that, in respect of mortgage for a principal dwelling, first time buyers will be subject to a maximum mortgage LTV of 90% for a property valued up to €220,000, and subject to an 80% LTV on any excess value above that...

Written Answers — Department of Finance: Economic Competitiveness (1 Apr 2015)

Michael Noonan: Substantial progress has been made in terms of improving Ireland's competitiveness in recent years.   There has been a significant improvement in Ireland's economy-wide cost competitiveness. The European Commission in its recent winter forecasts estimated that real unit labour costs in Ireland fell by 4.3 per cent for 2014 as a whole, which is...

Written Answers — Department of Finance: Economic Growth (1 Apr 2015)

Michael Noonan: First estimates of economic activity for 2014 show that real GDP rose 4.8 per cent in 2014 compared with 2013.  GNP rose by 5.2 per cent. Domestic demand grew on an annual basis for the first time since 2007.  Both private consumption and investment contributed to this growth. Exports rose by 12.6 per cent annually in 2014.  This was the fastest rate of expansion since 2001....

Written Answers — Department of Finance: Home Repossession (1 Apr 2015)

Michael Noonan: The Government's response to mortgage arrears has been multi-faceted.  The Central Bank has undertaken capital assessment reviews, stress tests, distressed credit operation reviews, balance sheet assessment exercises, a range of on-site inspections and throughout this period there has been on-going and intensive supervisory engagement with the banks.  ...

Written Answers — Department of Finance: Tax Code (1 Apr 2015)

Michael Noonan: The EU Commission published the proposal for a Common Consolidated Corporate Tax Base (CCCTB) in March 2011.  The proposal provides for common rules for calculating the corporate tax base, a consolidated tax base for all group entities within the EU and apportionment of the consolidated tax base between Member States under a formula of apportionment.  While Ireland remains...

Written Answers — Department of Finance: Economic Growth (1 Apr 2015)

Michael Noonan: Ireland was the fastest growing economy in Europe in 2014 with real GDP growth of 4.8 per cent compared with real GDP growth in the euro area economy of 0.9 per cent and 1.3 per cent in the EU economy.  Economic growth in Ireland is now more broadly balanced, with exports contributing to growth as a result of competitiveness gains and with the...

Written Answers — Department of Finance: EU Membership (1 Apr 2015)

Michael Noonan: The Government's position on developments in relation to the UK's membership of the EU has been set out on a number of occasions by the Taoiseach and the Minister for Foreign Affairs and Trade. The UK's continuing membership of the EU is a strategic objective for the Government. It is very important for our economy and for the ongoing development of good relations between Ireland and the UK....

Written Answers — Department of Finance: Mortgage Arrears Rate (1 Apr 2015)

Michael Noonan: Tackling mortgage arrears is a priority for the Government. A whole-of-Government approach has been adopted in addressing the issue with a view to maximising the level of loan restructuring arrangements and minimising the number of home repossessions.  Initiatives such as the reform of Personal Insolvency legislation and establishment of the Insolvency Service of Ireland, the...

Written Answers — Department of Finance: Economic Policy (1 Apr 2015)

Michael Noonan: My Department monitors the overall performance of the economy and of individual sectors on an ongoing basis.  Key sectors of the economy are subject to scrutiny as part of this process. In addition, my Department plays an active role in supporting and contributing to the Government's range of strategies such as the Construction 2020 Strategy and the Action Plan for Jobs 2015 as...

Written Answers — Department of Finance: Bank Charges (1 Apr 2015)

Michael Noonan: As I stated in my reply to the Deputy in a previous Parliamentary Question (5168/15) on this subject on 4 February 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 credit...

Written Answers — Department of Finance: Credit Availability (1 Apr 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 for working capital or other purposes from a diverse range of bank and non-bank sources. As regards the success of...

Written Answers — Department of Finance: Photographic Identification (31 Mar 2015)

Michael Noonan: Firstly, I must confirm to the Deputy that it is not appropriate for me, as Minister for Finance, to comment on or become involved in the detailed position of consumers opening post office or bank accounts.  The National Treasury Management Agency has informed me that a social welfare card does not contain a photograph. When opening a bank account the standard documentation which may be...

Written Answers — Department of Finance: Standards in Public Office Commission (31 Mar 2015)

Michael Noonan: In response to the Deputy's question I have furnished a statement of my registerable interests to the Standards Commission in line with the disclosure requirements for Office holders and Oireachtas members as is appropriate and required.

Written Answers — Department of Finance: Credit Unions (31 Mar 2015)

Michael Noonan: On 10 November 2013, following an application by the Central Bank of Ireland the High Court approved the transfer of Newbridge Credit Union to Permanent TSB. The ownership and management of the assets and liabilities of the credit union, with the exception of the premises, transferred from Newbridge Credit Union Limited to Permanent TSB under the High Court order dated 10 November...

Written Answers — Department of Finance: Pensions Levy (31 Mar 2015)

Michael Noonan: The pension fund levy was introduced in 2011 to fund the Jobs Initiative, which has been very successful in both helping to create and to maintain employment in this economy. The levy has applied at a rate of 0.6% for the years 2011 to 2013, at an aggregate rate of 0.75% for 2014 and will apply at a reduced rate of 0.15% for this year. In accordance with the provisions in section 125B of the...

Written Answers — Department of Finance: Financial Institutions Levy (31 Mar 2015)

Michael Noonan: The following response outlines levies imposed relating to bodies which are under the remit of the Department of Finance only. Central Bank  On an annual basis the Central Bank publishes a Guide to the Industry Funding Levy which includes a comprehensive list of the levy rates applicable for the year in question.  The Guide to Industry Funding Regulations 2014 is available on...

Written Answers — Department of Finance: Fuel Trader's Licence (31 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 257 and 259 together. I am informed by the Revenue Commissioners that 134 filling stations were closed down since 2011 for breaches of licensing conditions. The Commissioners also inform me that, while no licences were revoked prior to the introduction of the new licensing regime in late 2011, 3 mineral oil traders' licences were revoked in 2013, including 2...