Results 8,001-8,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Lending (12 Mar 2015)

Michael Noonan: All relevant disclosures in relation to each bank's residential mortgage portfolios are available in the risk management sections of their financial reports. For information the links to the financial reports are set out below with references to the relevant page numbers. Bank of Ireland (pages 52 to 84) AIB (pages 51 to 156) Permanent TSB (Financial Risk note 33, pages 128 to 159) ?

Written Answers — Department of Finance: Financial Services Ombudsman Data (12 Mar 2015)

Michael Noonan: The Financial Services Ombudsman is independent in the carrying out of his duties to investigate, mediate and adjudicate complaints about the conduct of regulated financial service providers.  I, as Minister for Finance, have no role in the day to day workings of the office of the Ombudsman or in the decisions which he takes. A "Whole of Life" policy pays a specified...

Written Answers — Department of Finance: Corporation Tax Regime (11 Mar 2015)

Michael Noonan: In the first instance, this is a matter for the Northern Ireland Authorities and the Westminster Government. However, as I have outlined in recent answers to similar questions, it is well known that Ireland is a supporter of fair tax competition and the OECD has consistently stated that a low corporation tax rate combined with a broad base is the best way to encourage...

Written Answers — Department of Finance: Banking Sector Recruitment (11 Mar 2015)

Michael Noonan: Following the announcement of the resignation of Mr David Duffy, the attention and focus of AIB has turned to recruiting a new Chief Executive Officer. With that in mind, I agreed  at a meeting with the Bank's Chairman, Mr Richard Pym, that it is in AIB's best interest that the process to recruit a new Chief Executive would begin without delay with a view to having someone with the...

Written Answers — Department of Finance: Financial Services Regulation (11 Mar 2015)

Michael Noonan: The Corporate Governance Code for Credit Institutions and Insurance Undertakings, 2010, did not include a limit as to how long either an executive or non-executive director may serve on the board of a credit institution. Section 7.13 of the 2010 Code required board memberships to be reviewed at least every three years and required a review of the membership of individual...

Written Answers — Department of Finance: Ministerial Meetings (11 Mar 2015)

Michael Noonan: I propose to take Questions Nos. 53 and 54 together. The list below sets out meetings with private equity firms since the beginning of 2013 attended by Department of Finance officials.  As previously stated, the topics discussed at these meetings would have been varied, ranging from broad interests in investment in Ireland to discussions regarding NAMA, IBRC, the REIT framework, the...

Written Answers — Department of Finance: Ministerial Meetings (11 Mar 2015)

Michael Noonan: Based on a reasonable search of the material available in my Department in respect of meetings held with the main consumer advocacy groups, the meetings held between my officials and representatives of advocacy are shown below. I was not personally in attendance at any of these meetings. Meeting with Brendan Burgess 16 April 2013. Meeting with Brendan Burgess and a University College...

Written Answers — Department of Finance: Legislative Measures (11 Mar 2015)

Michael Noonan: The introduction of a local property tax is part of a broader approach to the taxation of property. The aim is to replace some of the revenue from transaction based taxes, which have proven to be an unstable source of Government revenue, with an annual recurring property tax, which international experience has shown to be a stable source of funding.  The Government decided that the...

Written Answers — Department of Finance: Tax Reliefs Availability (11 Mar 2015)

Michael Noonan: Where a blind person maintains a trained guide dog, a sum of €825 per year is allowable in computing the gross eligible health expenses.  This is the equivalent of a tax credit of €165 and is only available in respect of fully trained guide dogs. The qualification criteria for granting this additional relief is that the individual must be entitled to the Blind Person's...

Written Answers — Department of Finance: Legislative Programme (11 Mar 2015)

Michael Noonan: I set out below a list of the primary legislation proposed by my Department since March 2011, which has been enacted: 1. Finance (No. 2) Act 2011 2. Ministers and Secretaries (Amendment) Act 2011 3. Insurance (Amendment) Act 2011 4. Central Bank and Credit Institutions (Resolution) Act 2011 5.  Finance (No. 3) Act 2011 6. European Financial Stability Facility and Euro...

Written Answers — Department of Finance: Tax Yield (11 Mar 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €470 million in a full year. These figures are estimates for 2015 from the Revenue tax forecasting model using the latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment...

Written Answers — Department of Finance: Tax Yield (11 Mar 2015)

Michael Noonan: I am informed by the Revenue Commissioners that the estimated first and full year cost to the Exchequer of abolishing the Universal Social Charge surcharge of 3% on self-employed income in excess of €100,000 is €54 million and €125 million respectively. All figures above are estimates for 2015, using the actual data for the year 2012 (the latest year...

Written Answers — Department of Finance: Insurance Coverage (11 Mar 2015)

Michael Noonan: Construction 2020 committed the Government to examining the concept of a mortgage insurance scheme, to ensure sustainable levels of mortgage lending in the medium term. In October I wrote to the Oireachtas Committee on Finance, Public Expenditure and Reform requesting that the committee consider the matter of mortgage insurance in an Irish context and, drawing on the experiences of other...

Written Answers — Department of Finance: State Savings Schemes (11 Mar 2015)

Michael Noonan: The National Treasury Management Agency (NTMA) manage the State Savings Products which includes State Savings bonds. State Savings fixed term, fixed rate products have a pre-determined maturity date, i.e. either 3, 4, 5½, 6 or 10 years after the date of purchase. The NTMA has advised that in advance of the date on which the State Savings fixed term product matures, the holder is...

Written Answers — Department of Finance: Primary Medical Certificates Applications (11 Mar 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, repayment of excise duty on fuel, and an exemption from Motor Tax. To qualify for the Scheme, an applicant must have a permanent and severe...

Written Answers — Department of Finance: Tax Code (11 Mar 2015)

Michael Noonan: A fair, efficient and competitive income tax system is essential for economic growth and job creation. While the figures submitted by the Deputy are accurate, it is important to understand that PAYE workers and the self-employed are taxed in different ways to reflect their differing circumstances. As the Deputy will be aware, employees in the PAYE system benefit from a PAYE income tax...

Written Answers — Department of Finance: Public Private Partnerships Data (11 Mar 2015)

Michael Noonan: The Enhanced Economic Governance package (the so-called "six pack" composed of five Regulations and one Directive) was adopted by the European Parliament and Council in November 2011. Among other statistical implications, this package includes some legal requirements which have implications on the collection/dissemination of fiscal data and statistics. In particular, under Council Directive...

Written Answers — Department of Finance: Tax Reliefs Cost (11 Mar 2015)

Michael Noonan: As I previously advised the Deputy in response to Parliamentary Question no. 70 (9500/15) on the 4thof March 2015, I am informed by the Revenue Commissioners that the cost to the Exchequer of tax relief allowed through the tax relief at source (TRS) system for medical insurance premia from 2012 to 2014 is as set out in the table below. The estimates do not include costs to the Exchequer of...

Written Answers — Department of Finance: IBRC Operations (11 Mar 2015)

Michael Noonan: As the Deputy is aware, a Relationship Framework dated 8th July 2009 was in place at the time the Board of IBRC approved the sale of the company referred to in the question. Under this Relationship Framework, the Board of IBRC were required to engage with the Minister for Finance on certain key issues which included "any material acquisitions, disposals, investments, realisations or other...

Written Answers — Department of Finance: Mortgage Interest Rates (10 Mar 2015)

Michael Noonan: At the outset, I must confirm to the Deputy that the lending institutions in Ireland - including those in which the State has a 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 in relation to the mortgage interest rates charged.  It...