Results 9,901-9,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Schemes (16 Oct 2014)

Michael Noonan: Last May, the Government launched 'Construction 2020: A strategy for a renewed construction sector'. The strategy includes the Government's desire for a return to sustainable levels of mortgage lending as part of a healthy market. This involves the consideration of measures to stimulate the development of housing in a sustainable manner. In order for developers to be supported, they...

Written Answers — Department of Finance: Licensed Moneylenders (16 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 76, 77, 82 and 83 together. Moneylenders have to apply to the Central Bank on an annual basis to have their licences granted or renewed. Part VIII of the Consumer Credit Act 1995 (as amended) sets out the Central Bank's powers, duties and responsibilities in relation to the granting or refusal of a moneylender's licence and in relation to their regulation...

Written Answers — Department of Finance: Licensed Moneylenders (16 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. Compliance with supervisory and legislative requirements is monitored by the Central Bank on an ongoing basis through a robust annual licensing process, advertising and market intelligence monitoring and themed and institution-specific inspections. Issues identified are addressed with the relevant firms. The Central Bank has drawn my...

Written Answers — Department of Finance: Illegal Moneylenders (16 Oct 2014)

Michael Noonan: I have been advised by the Central Bank that it does not regularly publish figures in relation to customers of legal moneylenders.   However, in its Report on the Licensed Moneylending Industry published in November 2013, the Bank said that customer numbers have increased from approximately 300,000 in 2005 to around 360,000 at present and outstanding loan...

Written Answers — Department of Finance: Credit Unions Regulation (16 Oct 2014)

Michael Noonan: As the Deputy will be aware the Relationship Frameworks we have in place for the banks provide that the State will not intervene in the day-to-day operations of the State supported banks or their management decisions. Neither the Central Bank nor the Department of Finance has a statutory function in relation to interest rate decisions made by individual lending institutions at any particular...

Written Answers — Department of Finance: Financial Services Regulation (15 Oct 2014)

Michael Noonan: For the purposes of this reply I understand "financial broker" to mean a retail intermediary who receives and transmits orders in certain financial products and/or provides advice in relation to those products and is authorised by Central Bank as one of the following: - an insurance/reinsurance intermediary under the European Communities Insurance Mediation Regulations 2005, - an...

Written Answers — Department of Finance: Property Taxation Rate (15 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that section 20 of the Finance (Local Property Tax) Act 2012 (as amended) allows a local authority to increase or decrease the basic rate of local property tax (LPT) by up to 15% in respect of residential properties situated within their administrative area. The LPT legislation requires the local authority to specify the period for which the...

Written Answers — Department of Finance: Revenue Commissioners Resources (15 Oct 2014)

Michael Noonan: I am advised by the Revenue Commissioners that in 2011 Revenue's Comprehensive Review of Expenditure noted that there is a significant deterrent and voluntary compliance effect on behaviour of an effective, risk based compliance programme and that by increasing audit, investigation and compliance resources by c.125 staff, at an estimated cost of €6.5m per annum, an additional exchequer...

Written Answers — Department of Finance: Tax Code (15 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 18, 19 and 21 together. I am advised by the Revenue Commissioners that it is not possible to apply different Income Tax rates or bands for PAYE sources of income alone. All relevant sources of income are treated equally for Income Tax purposes. If the Deputy is interested in the effect of changes in Income Tax rates and bands more generally, the...

Written Answers — Department of Finance: VAT Rate Reductions (15 Oct 2014)

Michael Noonan: Decreasing the higher rate of VAT from 23% to 22% would cost the Exchequer €271 million in a full year, while a decrease from 23% to 21% would cost €542 million.  Decreasing the 13.5% rate of VAT to 12.5% would cost the Exchequer €246 million in a full year.

Written Answers — Department of Finance: European Investment Bank Loans (15 Oct 2014)

Michael Noonan: The EIB is the long-term financing institution of the European Union. Its mission is to help implement the EU's policy objectives by financing sound business projects. To finance these projects, the Bank borrows on the capital markets, passing on the benefit of its low borrowing cost to Member States due to its high credit rating. I am aware that the EIB and the University of...

Written Answers — Department of Finance: Departmental Staff Remuneration (15 Oct 2014)

Michael Noonan: No performance related bonus pay has been paid to any staff member of my Department during the period 2011 to date in 2014.

Written Answers — Department of Finance: Corporate Tax Compliance (15 Oct 2014)

Michael Noonan: I welcome the OECD's base erosion and profit shifting (BEPS) project as a very important multilateral step towards aligning taxing rights with substance and addressing double non-taxation. The seven reports released on the 16th of September represent the first milestone in this two year process. Ireland has been, and will continue to be, actively involved in the working groups on all 15...

Written Answers — Department of Finance: Financial Services Regulation (15 Oct 2014)

Michael Noonan: I am advised by Permanent TSB that this case had previously been investigated by the Bank and had been referred to and adjudicated by the Financial Services Ombudsman (FSO) in November 2013, under case 13/74414.  The FSO did not uphold the case and as the Deputy may be aware, under the Relationship Framework the State does not intervene in the day to day operations of the bank or their...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: There is no uncertainty.

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: Do we take the road frequently trodden by Governments in the past, a road the signposts on which are tax and spend and where one's journey is through boom to bust, or do we, like Frost, take the road "less travelled by"?

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: It is a road on which the milestones are prudence and caution. It is a road that delivers stable economic growth, encourages investment, rewards work, creates job opportunities and delivers high quality public services. It is a road on which citizens have certainty about their incomes and can plan for the future without fear of another bust; it is a new road to a new Ireland. I know the...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: We will continue to ease the burden on those in the middle in a targeted manner without giving disproportionate benefits to those on the highest incomes. The 52% marginal rate will be lowered further while ensuring those on higher incomes continue to pay their fair share. Progressivity will be copper-fastened by giving greater importance to USC at higher incomes so that the capacity of...

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: -----with a pro rataincrease on other tobacco products.

Financial Resolutions 2015 - Budget Statement 2015 (14 Oct 2014)

Michael Noonan: This will bring the price of cigarettes in the most popular price category to €10. In addition, a pouch of roll-your-own tobacco will increase by a further 20 cent per 25g pack. Revenue is also being raised through previously provided-for changes in the betting duty and as a result of changes in VAT rules at European Union level. Collectively, the revenue-raising measures in the...