Results 20,141-20,160 of 27,019 for speaker:Michael Noonan

Other Questions: IBRC Mortgage Loan Book (23 Jun 2015)

Michael Noonan: The code of conduct on mortgage arrears, CCMA, provides a strong consumer protection framework to ensure that borrowers struggling to keep up mortgage repayments are treated in a fair and transparent manner by their lender, and that long-term resolution is sought by lenders with each of their borrowers.  The Central Bank uses a number of methods to monitor compliance with consumer...

Other Questions: IBRC Mortgage Loan Book (23 Jun 2015)

Michael Noonan: What happened was that a number of purchasers of mortgage books complied voluntarily with the code of practice. If that is the precise question the Deputy wants answered, that means they willingly subjected themselves to the regulations and protocols being operated by the Central Bank in respect of regulated entities. We are now putting that on a statutory basis. We had very good...

Other Questions: IBRC Mortgage Loan Book (23 Jun 2015)

Michael Noonan: Yes. The Deputy referred to a company which voluntarily complied with the code of practice. If it voluntarily complied, the Central Bank would ensure compliance. That is on a statutory basis from the time the Bill passes through the Seanad and is signed by the President. If there is a particular issue about a particular mortgage, I ask the Deputy to send it directly to the Central Bank or...

Other Questions: Tax Compliance (23 Jun 2015)

Michael Noonan: I thank Deputy Richard Boyd Barrett for his question. Bogus self-employment in the context of the Deputy's question is generally accepted as referring to a practice of employers erroneously describing or treating employees as self-employed contractors.  As the Deputy may be aware, a number of questions have been put down by other Deputies in recent times on this issue, especially as it...

Other Questions: Tax Compliance (23 Jun 2015)

Michael Noonan: First, the Deputy's request for me to get off the script is rather inappropriate because the script is the prepared reply to the question the Deputy put down and if I did not did not reply to the question he put down, he would have another problem and another grievance.

Other Questions: Tax Compliance (23 Jun 2015)

Michael Noonan: I have also informed the Deputy that the adjudication of whether somebody is an employee and-or self-employed is not a matter for the Revenue Commissioners. It is in accordance with the code of practice for determining employment or self-employment status of individuals and that document was prepared jointly by the Irish Congress of Trade Unions, business representative bodies and the...

Other Questions: Tax Compliance (23 Jun 2015)

Michael Noonan: As a responsible citizen and as a Deputy of this House, I have no doubt the Revenue will take any allegation the Deputy makes seriously. I will bring the record of the House today to the attention of the Revenue Commissioners and I will request them to follow up the allegations he has made, but I presume that if they contact him personally, he will try and give them more precise information...

Other Questions: Tax Compliance (23 Jun 2015)

Michael Noonan: -----with their follow-up.

Credit Unions: Motion [Private Members] (23 Jun 2015)

Michael Noonan: I move amendment No. 1:To delete all words after “Dáil Éireann” and substitute the following: “notes that:— the Government has a clear policy to support the strategic growth and development of credit unions in Ireland as set out in the report of the Commission on Credit Unions and recommendations; — the safety of members' savings and the security...

Written Answers — Department of Finance: State Banking Sector (23 Jun 2015)

Michael Noonan: AIB is  well on the road to recovery and officials in my department are working with AIB on reconfiguring its capital structure and setting out a path for the bank to begin to return capital to the State. Given the scale of the States investment some €20.8 billion and the different financial instruments this money is invested in, there are a range of options available to...

Written Answers — Department of Finance: Property Tax Administration (23 Jun 2015)

Michael Noonan: The Deputy will be aware that I have instigated a review to consider, and make recommendations, on the operation of the LPT, and any impacts on LPT liabilities due to property price developments. A public consultation has been held as part of the review.  The consultation period ran to April 30th, a period of 4 weeks.  I am informed that over...

Written Answers — Department of Finance: IBRC Investigations (23 Jun 2015)

Michael Noonan: As the Deputy will be aware the terms of reference of the proposed Commission of Investigation in relation to IBRC include the following explicit terms of reference dealing with unusual share trading activity and information received by the Department of Finance: "whether in respect of any transaction  under investigation, any unusual share trading occurred which would give rise to...

Written Answers — Department of Finance: Sale of Aer Lingus (23 Jun 2015)

Michael Noonan: It has been the consistent policy of the Government that proceeds received from the sale of assets should, to the greatest extent possible, be used to support and sustain economic recovery and employment creation.  Under Eurostat rules, the proceeds arising from the sale of the State's shares in Aer Lingus, representing the sale of a financial asset, will have no beneficial impact...

Written Answers — Department of Finance: Legislative Measures (23 Jun 2015)

Michael Noonan: Borrowers whose loans are sold to unregulated entities will be protected by the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 when it is enacted.  The purpose of the Bill is to ensure that consumers retain the protections they had prior to the sale of their loan.  This Bill will require entities dealing with the consumer to be authorised by the...

Written Answers — Department of Finance: Banking Sector Staff (23 Jun 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 in which it holds investments or their management decisions regarding commercial matters and hence any discussions around matters such as outsourcing are a matter for the bank, the relevant staff and their union representatives. Notwithstanding...

Written Answers — Department of Finance: Banking Sector (23 Jun 2015)

Michael Noonan: As you know, I met with senior management of Ireland's six main mortgage providers in May and outlined my view, that Standard Variable Rates being charged in the Irish market are too high.  There was agreement from all lenders that customers should have access to more competitive mortgage products as per my recommendation. In addition, I outlined the need for greater competition in...

Written Answers — Department of Finance: Credit Register Establishment (23 Jun 2015)

Michael Noonan: The Central Bank of Ireland is responsible for establishing the Central Credit Register.  Since the enactment of the Credit Reporting Act, the Central Bank has:  -concluded an EU wide public procurement process in December 2014 to select a partner to establish and operate the Register on its behalf, signing contracts with CRIF Ireland Limited in February 2015; -commenced...

Written Answers — Department of Finance: Pensions Levy (23 Jun 2015)

Michael Noonan: This question refers to two separate and distinct measures. The first measure referred to is the stamp duty levies applying to the assets of funded pension arrangements introduced in 2011 to pay for the Jobs Initiative, the chargeable persons for which are the trustees of pension schemes and others responsible for the management of pension fund assets. The second measure is the...

Written Answers — Department of Finance: EU Membership (23 Jun 2015)

Michael Noonan: Issues related to the euro area are dealt with by the Eurogroup, rather than Ecofin, although it is normal practice for the President of the Eurogroup to debrief colleagues at the Ecofin. When Member States get into difficulties, there are a number of European financial assistance mechanisms available to help resolve these issues in order to preserve the overall financial...

Written Answers — Department of Finance: National Economic Dialogue (23 Jun 2015)

Michael Noonan: Firstly, I would point out that the Government is not of the view that the National Economic Dialogue will operate in a narrow way.  As was stated in the invitation letter, the objective of the dialogue is to facilitate an open and inclusive exchange on the competing and social priorities facing the Government as we prepare for Budget 2016.  It will be informed by the macro-economic...