Results 22,681-22,700 of 27,019 for speaker:Michael Noonan

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: Therefore, we are just about at the figure of 4%. There is a big advantage in staying within the fiscal rules, but they are giving us some flexibility also. I will be advising, through the Department of Finance, if I am back in it, that we use the rules cautiously and carefully in order that we can keep growing the economy at well above the average figure and then use the fruits of that...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: I would say first of all that the Deputy is right. Secondly, I would say to him that I never promised the Government would be able to fix in five years what went wrong because the country was on the verge of falling over a cliff. If one considers Greece, which got into trouble seven years ago, it is still in dreadful trouble. There is no sign of a correction in Greece at the moment because...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: We will take the findings into account in the formation of policy.

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: Out of respect for the Chairman - I am sure Deputy Ruth Coppinger will not object - I will answer his questions first. Yes, I will ask my officials to get the details of the French scheme with the European Investment Bank. My former private secretary, Mr. John Moran, whom the Chairman will have known, is still on the board of the European Investment Bank and is the source of my...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: Regarding the underspend by local authorities, I often say I only collect money. It was my colleague, the Minister for Public Expenditure and Reform, Deputy Brendan Howlin, and the Department of Public Expenditure and Reform who spent it. Again, it is something I have heard in the system, but we can check. There is the idea that young couples should be assisted financially in putting...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: In fact, my first sentence was: "I thank committee members for inviting me to discuss the important challenges this country must address as regards housing and homelessness." In the rest of my speech I developed that point. The Deputy also referred to the paragraph in which I said: "Unless addressed, it could pose a serious threat to the competitiveness of the economy." She interpreted...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: When the Deputy was quoting the competitiveness sentence, in fairness she should have quoted the next sentence also in which I talked about the issues of homelessness and housing supply giving rise to major social issues, including rising homelessness. I make that point in case anyone listening to us misunderstands what I am saying. Deputy Coppinger subsequently asked a series of...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: Vulture funds must comply with the law in exactly the same way as any other owners of loan books. The same protections apply to the mortgage holders or tenants under the new arrangement as applied under the old arrangement. That is the inhibition on them. The argument I am making is that the transfer to new ownership does not disadvantage or give new rights to vulture funds. They has the...

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: It is outlawed already, so that is not the issue. It is outlawed, because it is a criminal act to evade tax. Making sure people comply is the issue, not the need to legally outlaw the practice.

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: The other side of this is that if a bricklayer who is employing two further bricklayers and contracting them in to do the brick work or block work on a building is probably a legitimate sub-contractor and is entitled to be taxed as a sub-contractor.

Committee on Housing and Homelessness: Minister for Finance (5 May 2016)

Michael Noonan: If that is the case, the Deputy should bring the issue up with Revenue and give it the information on it.

Appointment of Taoiseach and Nomination of Members of Government: Motion (6 May 2016)

Michael Noonan: God help us.

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: Legislation is not necessary. Deputy Michael McGrath knows my view since the Trinity talks.

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: I move amendment No. 1:To delete all words after "That" and substitute the following:"the Bill be read a second time this day six months to allow for scrutiny by an appropriate Select Committee to examine and address the following issues: a) There are major constitutional issues which fall to be considered in relation to interference in vested property rights, the retrospective application...

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: The Bill requires the Central Bank to assess whether market failure exists in the principal dwelling house mortgage market. However, assessment of competition issues comes within the remit of the Competition and Consumer Protection Commission, CCPC, not the Central Bank. It would not be appropriate for the Central Bank to make this assessment. Previously, the Central Bank had a mandate in...

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: Yes, but I will make a further point before I conclude. This is a minority Government. As everybody knows, the Opposition collectively has more votes than the Government. That creates difficulties for the Government and puts an onus on the Opposition as well. Previously, when the Government was protected by the whipping system, the Opposition could have a go. Now there is a risk involved...

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: I am not saying it will not-----

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: I am not saying-----

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: I am not.

Central Bank (Variable Rate Mortgages) Bill 2016: Second Stage [Private Members] (17 May 2016)

Michael Noonan: No.