Results 20,401-20,420 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Pensions Levy (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 135 and 141 together. The original 0.6% stamp duty levy on pension fund assets ended last year. The additional levy of 0.15% which I introduced for 2014 and 2015, mainly to help continue to fund Jobs Initiative, will also end after this year. The position is that the equivalent value of all of the money raised from the stamp duty levy has been used to...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: The Steering Group Report on a National Substance Misuse Strategy recommended a series of actions to deal with the harms caused by alcohol use and misuse, including the introduction of a social responsibility levy on the 'drinks industry' which the Report defined as some or all of those involved in the manufacturing, distribution and retailing of alcohol. The Deputy will be aware that the...

Written Answers — Department of Finance: Fuel Laundering (7 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 137 and 138 together. I am informed by the State Laboratory, who work closely with the Revenue Commissioners in the area of fuel fraud, that the State Laboratory uses a range of tests to establish whether a petrol or diesel sample meets required specifications and to check for fuel contamination. The exact suite of tests applied depends on the whether a...

Written Answers — Department of Finance: Currency Circulation (7 Jul 2015)

Michael Noonan: I can confirm that rounding will be to the nearest five cent, and will only apply to cash payments and not to electronic payments (such as by debit card) which will remain unrounded. Rounding will apply on a voluntary basis for both retailers and consumers. The rounding rules will not apply to amounts being paid in cash at banks and post offices, and will only apply at the point of sale for...

Written Answers — Department of Finance: Primary Medical Certificates Applications (7 Jul 2015)

Michael Noonan: I understand the individual concerned appealed the decision of the Health Service Executive to not award them a Primary Medical Certificate to the Disabled Drivers Medical Board of Appeal. I am informed by the Medical Board of Appeal that this appeal was not upheld.  A citizen can re-apply for a Primary Medical Certificate after six months if there is a...

Written Answers — Department of Finance: Central Bank of Ireland Expenditure (7 Jul 2015)

Michael Noonan: The following table outlines the payments made to Ernst and Young for the years 2011 to 2014. All figures are inclusive of VAT. These figures have been prepared by the Central Bank on an accruals basis, based on when the costs are incurred and not on when the costs are paid. Fiscal Year Amount 2011 €2 - €2.5m 2012 €2 - €2.5m 2013 €9.5 - €10m...

Written Answers — Department of Finance: IBRC Operations (7 Jul 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 term of reference dealing with information received by the Department of Finance: "in relation to each transaction under investigation, whether the Minister for Finance or his Department was kept informed where appropriate in respect of the...

Written Answers — Department of Finance: Insurance Industry (7 Jul 2015)

Michael Noonan: Setanta Insurance Company Limited is a Maltese incorporated company. Setanta was formally placed into liquidation by the Maltese Financial Services Authority on 30th April 2014 when a liquidator was appointed under the provisions of the Maltese Companies Acts 1995. The liquidation is proceeding according to Maltese law.  The liquidation of an insurance company is a...

Written Answers — Department of Finance: Tax Code (7 Jul 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I have been informed that for reasons of client confidentiality AIB/EBS does not comment on individual cases. However the institution is satisfied that the referenced case is being dealt with in a manner consistent with the treatment strategy for customers in mortgage difficulty. I appreciate the difficult position many people find themselves in with respect to mortgage...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I appreciate the difficult position many people find themselves in with respect to mortgage arrears but it would not be appropriate for me to intervene directly in discussions between any financial institution and a third party. It is advisable for any individual dealing with debt to seek financial and legal advice on their specific situation and on the alternative courses of remedial action...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2015)

Michael Noonan: I have been informed that the institution referred to is not refusing to deal with customers in financial difficulties. Rather in circumstances where borrowers have a difficulty it is working with those customers to implement a sustainable mortgage restructure that allows the customers to stay in their home. The institution also has policies and processes in place to ensure...

Written Answers — Department of Finance: Credit Union Fund (7 Jul 2015)

Michael Noonan: The Credit Union and Co-operation with Overseas Regulators Act 2012 provides the statutory basis for the restructuring of credit unions and placed the Credit Union Restructuring Board - ReBo - on a statutory footing from 1 January 2013. ReBo is currently in the process of overseeing and facilitating restructuring on a voluntary, incentivised and time-bound basis, as recommended by the...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: I was not directly involved in the sales process itself but was kept informed by the NAMA Chairman on overall progress in relation to the sale of the NAMA Northern Ireland loan book. As the Deputy will appreciate, decisions on sales transactions are a matter for the NAMA Board in the context of its statutory independent commercial mandate. In light of the political...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: Neither NAMA, nor my Department, has carried out an assessment on the Northern Irish economy in relation to the sale of these loans.

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: The Department of Finance did not enter into any Memorandum of Understanding with NAMA, the ultimate purchaser, or any other third party in respect of the sale of the Northern Ireland loan portfolio. I am advised by NAMA that the Agency, likewise, did not enter into any such Memorandum of Understanding with any involved third party. The sale of NAMA Northern Ireland loan portfolio was...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: I can confirm to the Deputy that there were no meetings between my Department and NAMA's Northern Ireland Advisory Committee. The principal responsibility of the Northern Ireland Advisory Committee was to advise the NAMA Board in relation to strategy for its Northern Ireland assets. The Deputy will note that the NAMA Board, with my agreement as Minister for Finance, having...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: The NAMA Act provides for the establishment of Advisory Committees. Following discussions between the then Minister for Finance and the Minister of Finance and Personnel of Northern Ireland, it was agreed that an advisory committee would be established to advise the NAMA Board in relation to matters regarding NAMA's Northern Ireland assets. On the proposal of the then Minister for...

Written Answers — Department of Finance: Social and Affordable Housing Provision (7 Jul 2015)

Michael Noonan: The Department of the Environment, Community and Local Government is the Department primarily responsible for the formulation and implementation of policy and for the preparation of legislation in relation to housing. Any social housing funding mechanism would have to be in line with that Department's policy. My Department is always open to examining and discussing any proposals...

Written Answers — Department of Finance: Credit Unions Regulation (7 Jul 2015)

Michael Noonan: The Central Bank is independent in the exercise of its functions but the Governor or a Head of Function may be requested under section 32L of the Central Bank Act 1942 (as amended by the Central Bank Reform Act 2010) to appear before Committees of the Houses of the Oireachtas to address certain matters. It is the prerogative of the Joint Committee on Finance, Public Expenditure and...