Results 20,501-20,520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Credits (14 Jul 2015)

Michael Noonan: The Deputy may be aware that the Department of Children and Youth Affairs are currently chairing an Inter-Departmental working group to assess future policy options for increasing the quality, accessibility and affordability of early years and school age care and education services. This group was established in February 2015 and is due to submit a report to Government shortly. In relation to...

Written Answers — Department of Finance: Mortgage Data (14 Jul 2015)

Michael Noonan: According to the Central Bank's Statistical Release of 4 June 2015, at the end of March 2015, non-bank entities accounted for 5.1 per cent of all outstanding mortgage loans (6.3 per cent in value terms). The Release noted that non-bank lenders hold almost 46,000 mortgage accounts for principal dwelling houses (PDH) and buy-to-let (BTL) combined. The Central Bank informed me...

Written Answers — Department of Finance: EU-IMF Programme of Support (14 Jul 2015)

Michael Noonan: The first capital repayment on the loan to Greece, for €2,998,730.51, is scheduled for 15 June 2020. Thereafter capital repayments of €4,342,989.01 are scheduled to be repaid at three-monthly intervals, the first one scheduled for 15 September 2020 and the last one scheduled for 15 March 2040.  A final payment, of €1,344,258.73, is...

Written Answers — Department of Finance: Banking Sector Data (14 Jul 2015)

Michael Noonan: Section 72, F (No.2) Act 2013 inserted a new section 126AA into the Stamp Duties Consolidation Act 1999. The section, which  applies to holders of banking licences and building societies in 2011 that were obliged to collect and pay over more than €100,000 DIRT in that year, provides for a levy equal to 35% of the DIRT paid in 2011. The levy applies for a three year period covering...

Written Answers — Department of Finance: Tax Yield (14 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they regularly review the reasons for under- or over-performance of receipts across all taxes. On the basis of the evidence available, it would indicate that the over-performance recorded in corporation tax receipts to end-June 2015 is a result of a combination of reasons.  These include improved trading performance across a number of...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (14 Jul 2015)

Michael Noonan: I have been informed by the Central Bank that it is not possible to compile this information in the format sought by the Deputy in the time available. The information will be made available to the Deputy as soon as it is available.

Written Answers — Department of Finance: Consultancy Contracts Expenditure (14 Jul 2015)

Michael Noonan: I am informed by the Central Bank that whilst the Bank would not necessarily have a direct role in relation to the appointments of receivers, liquidators and examiners of regulated financial entities, it is very much cognisant of all such activities as part of its supervisory role in relation to all regulated financial entities.

Written Answers — Department of Finance: Tax Code (14 Jul 2015)

Michael Noonan: The Deputy will be aware that one of the recommendations of the Agri-taxation Review intended to encourage more productive use of farmland is that stamp duty relief be given in relation to certain leases of farmland. Changes to the stamp duty provisions pertaining to farmland leasing provided for in the Finance Act 2014 are however subject to a commencement order pending State Aid...

Written Answers — Department of Finance: Pension Provisions (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 315 and 316 together. Flexible options at retirement (the so-called ARF option) are available in respect of all benefits from Defined Contribution (DC) retirement benefit schemes and other DC-based pension savings. Choices available to individuals (after taking the tax-free retirement lump sum) include the option to purchase an annuity with the remaining...

Written Answers — Department of Finance: Departmental Staff Data (14 Jul 2015)

Michael Noonan: I wish to inform the Deputy that the current average age of permanent staff employed within my Department at end June 2015 was 43.6. The average age of staff in 2008 and 2011 is contained in the following table. Year Average Age 2008 44.5 2011 44.6 2015 43.6 From 2012 to 2014 the Department has recruited 87 staff with specific high level qualifications and experience. To date in 2015 26...

Topical Issue Debate: Tax Code (15 Jul 2015)

Michael Noonan: I thank Deputy Costello for raising this matter. My understanding of the background to this issue is that, following the sale of its Canadian business, the UK company Standard Life plc offered its shareholders the option of having the return of value payments due to them treated as income or capital. Treatment as income was decided by the company as the default position in the absence of...

Topical Issue Debate: Tax Code (15 Jul 2015)

Michael Noonan: I thank the Deputy again and will examine the matter sympathetically, but without prejudice, as I prepare the Finance Bill, which is usually published in late October. I have asked officials in my Department and the Revenue Commissioners to examine the matter further in that context and to revert to me. I will make a decision based on the advice I receive from them and on the views that...

Written Answers — Department of Finance: Flood Risk Insurance Cover (15 Jul 2015)

Michael Noonan: The issue of provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting.  I, as Minister for Finance, am not in a position to direct insurance companies to provide flood cover to specific individuals.  I understand that, in this case, one insurance company...

Written Answers — Department of Finance: Financial Services Ombudsman (15 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 71 to 74, inclusive, together. I have been informed by permanent tsb ("PTSB") that it is currently subject to an Enforcement Investigation by the Central Bank in relation to the circumstances in which the bank refused to allow certain customers who had switched from a tracker rate mortgage to a fixed rate mortgage for an agreed term to...

Written Answers — Department of Finance: Financial Services Regulation (15 Jul 2015)

Michael Noonan: I understand that the Deputy is seeking information on charges applied by Payzone.  The Central Bank has confirmed that Payzone is not authorised by it and I understand that the bill pay service provided by Payzone is not a regulated activity under financial services legislation. As such, the matter does not come under my aegis.  I understand that Payzone sets its own service...

Written Answers — Department of Finance: Tax Yield (15 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that they have a broad range of programmes aimed at tackling tax avoidance and tax evasion in all its forms. Tax Avoidance Aggressive tax planning and unintended use of legislation can lead to outcomes which present real risks to the tax base and the perceived fairness of the tax system. I am satisfied that Revenue continues to identify such...

Written Answers — Department of Finance: NAMA Staff Data (15 Jul 2015)

Michael Noonan: On the basis that "staff at a senior level" is senior managers who report directly to the NAMA Chief Executive, the number of staff at a senior management level who left NAMA in each of the past three years and to date in 2015, and their titles, are set out below. - 2012 2013 2014 YTD 2015 Number 1 - 1 1 Title Head of Lending - Head of Asset Management...

Written Answers — Department of Finance: National Treasury Management Agency Staff (15 Jul 2015)

Michael Noonan: The numbers of staff at senior management level who have left the NTMA in the years 2012 to 2014 and in 2015 to date are set out below.  The figures do not include staff assigned to NAMA which are the subject of a separate question by the Deputy. 2012 2013 2014 2015 Chief Executive - - - 1 (retired) Senior Management Team - 3 1 (retired) -

Written Answers — Department of Finance: Consumer Protection (15 Jul 2015)

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

Written Answers — Department of Finance: Banking Sector Staff (15 Jul 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...