Results 8,561-8,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector (4 Feb 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters and hence any discussions around outsourcing, pension reform etc. are a matter for the bank, the staff and their union representatives. Notwithstanding this position, my officials...

Written Answers — Department of Finance: Banking Sector (4 Feb 2015)

Michael Noonan: As I am sure the Deputy will be aware, I have been informed by Minister of State Harris that he met with Cathaoirleach and CEO of Leitrim County Council in November regarding the MBNA closure, there were also EI and IDA representatives present.   Minister of State Harris, in his role regarding international banking, is currently developing an International...

Written Answers — Department of Finance: NAMA Social Housing Provision (4 Feb 2015)

Michael Noonan: NAMA has made significant numbers of housing units available through the Housing Agency to local authorities and approved housing bodies for social housing.  As the Deputy is aware, NAMA was established primarily in order to acquire property and related loans from five financial institutions so as to remove this systemic risk to the Irish banking system and secondly, to obtain the best...

Written Answers — Department of Finance: Mortgage Repayments (4 Feb 2015)

Michael Noonan: The lending institutions, including those which have acquired loan books, are independent commercial entities. However, the Deputy will be aware that Second Stage of the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 will be taken in the Dáil today and tomorrow (4thand 5thFebruary). The purpose of this legislation is to protect consumers whose loans...

Written Answers — Department of Finance: Bank Branch Closures (4 Feb 2015)

Michael Noonan: The Deputy will be aware that the issue of branch closures by Ulster Bank was raised in the Dáil on Thursday 22 January. The full text of the debate is available on the Oireachtas website. As I said then, this is a commercial and operational matter for the Ulster Bank, a wholly-owned subsidiary of the Royal Bank of Scotland group, and it would not be appropriate for me as...

Written Answers — Department of Finance: Property Tax Exemptions (4 Feb 2015)

Michael Noonan: As I previously advised the Deputy, officials of my Department, together with officials of the Department of Environment, Community & Local Government, are examining the alternatives other than testing that may be available in order to confirm entitlement to a Local Property Tax (LPT) exemption.  My officials continue to examine this issue and how it can be...

Written Answers — Department of Finance: Tax Code (4 Feb 2015)

Michael Noonan: As the Deputy is aware, in the recent Budget I announced the extension of the artists' exemption to artists who are resident or ordinarily resident and domiciled in one or more EU Member States, or in another EEA state, and not resident elsewhere.     The EU Commission had raised concerns that, without this inclusion, the scheme could be in contravention of the Treaty...

Written Answers — Department of Finance: IBRC Liquidation (4 Feb 2015)

Michael Noonan: The Special Liquidators continue to implement the orderly and efficient wind down of Irish Bank Resolution Corporation Limited (in Special Liquidation) in accordance with the provisions of the IBRC Act and the instructions issued by the Minister for Finance under the IBRC Act 2013. As the Deputy is aware, for operational reasons, the loan assets of IBRC were divided into six portfolios:...

Written Answers — Department of Finance: Banking Sector Staff (4 Feb 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters and hence any discussions around pensions and other staff related issues are a matter for the bank, the staff and their union representatives. I have been informed that the bank is not aware of...

Written Answers — Department of Finance: Mortgage Arrears Proposals (4 Feb 2015)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (the CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The CCMA sets out requirements for mortgage lenders dealing with borrowers facing or in arrears on a mortgage which is secured on a primary home and provides a strong consumer...

Written Answers — Department of Finance: Economic Growth (4 Feb 2015)

Michael Noonan: The new Greek Government has only just assumed office and is therefore still formulating its policies. So there remains some uncertainty regarding the likely path that the new Government will take.  This uncertainty has been associated with financial market volatility in Greece, with a decline in equity prices and a sharp spike in bond yields. Having said that, markets...

Written Answers — Department of Finance: Tax Code (4 Feb 2015)

Michael Noonan: I am advised by the Revenue Commissioners that their legal obligation not to divulge taxpayer information precludes them from providing the specific details the Deputy has requested. However, the Revenue Commissioners inform me that they are engaged in a compliance program that involves visits to pension providers, pension administrators and pension trustees in relation to the transfer...

Written Answers — Department of Finance: NAMA Operations (4 Feb 2015)

Michael Noonan: I am advised that the NAMA Chief Executive, in his opening address to the Public Accounts Committee on 18 December 2014, stated that NAMA is aiming to redeem a cumulative 80% (€24 billion) of its senior debt by the end of 2016 and that it hopes that it will have redeemed all of it by the end of 2018. He stated that those targets were predicated on conditions in the Irish market...

Written Answers — Department of Finance: European Council Meetings (4 Feb 2015)

Michael Noonan: On 3 December 2014, €500 million was disbursed to Ukraine as the final part of the EU's €1 billion Macro-Financial Assistance programme (MFA II). The first package (MFA I) amounted to €610 million. On 18 December 2014, the European Council stated that "the Union and its Member States stand ready to further facilitate and support Ukraine's...

Written Answers — Department of Finance: Ministerial Meetings (4 Feb 2015)

Michael Noonan: The Managing Director of the IMF, Christine Lagarde, visited Dublin on 19 January to attend a conference organised by the IMF together with the Central Bank of Ireland and the Centre for Economic Policy Research on Ireland lessons learned from its Recovery from the Bank Sovereign Loop. I participated in a high level discussion panel at the conference along with Ms Christine Lagarde, Mr...

Written Answers — Department of Finance: Pensions Levy (4 Feb 2015)

Michael Noonan: I propose to take Questions Nos. 51 and 54 together. The pension fund levy is not a levy on pensions but is a stamp duty charge that applies to the market value, on the valuation date, of assets under management in pension funds and pension plans approved under Irish tax legislation. The levy was introduced in 2011 to fund the Jobs Initiative and has applied at a rate of 0.6% for the...

Written Answers — Department of Finance: Tax Credits (4 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that following direct engagement from the person concerned and having regard to all of the circumstances, an amended certificate of tax credits issued to him on 30 January 2015 reflecting the full tax credits to which he is entitled.

Written Answers — Department of Finance: Pensions Levy Yield (4 Feb 2015)

Michael Noonan: I am informed by the Revenue Commissioners that final receipts in 2014 from the Stamp Duty levy on pension fund assets, introduced in the Finance (No.2) Act 2011, are €743 million. The forecast yield for 2014 was €675 million.

Written Answers — Department of Finance: NAMA Operations (4 Feb 2015)

Michael Noonan: I am advised by NAMA that there are no such finder fee arrangements in place.  In order to meet their obligations to NAMA, debtors are required to actively manage assets which form part of NAMA's security so as to optimise their realised value.    This includes the collection of rents and service charges, arrangements for letting of vacant units and the operation of rent...

Written Answers — Department of Finance: Tax Collection (4 Feb 2015)

Michael Noonan: I am advised by Revenue that, where possible, it always seeks to work with businesses that are experiencing temporary cash-flow difficulties in preference to deploying debt collection/enforcement measures to secure outstanding taxes. However, such discussions require open and committed engagement to identify mutually acceptable solutions and are predicated on a business being viable and...