Results 22,821-22,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Growth Rate (18 May 2016)

Michael Noonan: In general, recent indicators have been very positive, indicating the economic recovery is strengthening in a sustainable manner. In the Stability Programme Update, published at the end of April, my Department forecast that the economy would grow by 4.9 per cent in 2016, by 3.9 per cent in 2017, and by 3.25 per cent on average over the remainder of the forecast...

Written Answers — Department of Finance: Central Bank of Ireland (18 May 2016)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) provides a strong consumer protection framework to ensure that each borrower who is experiencing genuine difficulty in meeting the repayments on a mortgage secured on a primary home is treated in a timely, transparent and fair manner by lenders.  The CCMA recognises that it is in the interests of borrowers and lenders to...

Written Answers — Department of Finance: Pyrite Issues (18 May 2016)

Michael Noonan: The qualifying criteria in respect of exemption from Local Property Tax (LPT) for properties with 'significant pyritic damage' were modified by the Finance (Local Property Tax) (Amendment) Act 2015. The Act modified the qualifying criteria to include properties where: 1. a certificate of damage has been completed by a competent person as set down in the relevant Regulations or, 2....

Written Answers — Department of Finance: Credit Unions (18 May 2016)

Michael Noonan: Credit unions have a key role to play in providing access to credit and other important services in local communities throughout the country. As Minister for Finance I recognise this and have put in place a number of measures to ensure that credit unions can continue to provide these vital services to their members and to ensure the stability of the sector into the future. These...

Written Answers — Department of Finance: Loan Books Purchasers (18 May 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'.  Credit Servicing Firms are now...

Written Answers — Department of Finance: Mortgage Interest Rates (18 May 2016)

Michael Noonan: As the Deputy is aware, the Programme for Government makes it clear that it is not ethically acceptable for Irish banks to charge excessive interest rates on standard variable rate customers. The Government has committed to take all necessary action to tackle high variable interest rates; including through establishing a new code of conduct for switching mortgage provider, administered...

Written Answers — Department of Finance: Fiscal Policy (18 May 2016)

Michael Noonan: I do not intend to seek a break in the fiscal rules, which are designed to ensure stable public finances that underpin sustainable economic growth.  There are provisions in the fiscal rules that are designed to promote public investment. Within the expenditure benchmark pillar of the fiscal rules, capital investment in respect of capital formation is granted favourable...

Written Answers — Department of Finance: Tax Credits (18 May 2016)

Michael Noonan: There is no general tax credit in respect of the care of a child available to cohabiting parents, whether married or unmarried, returning to the workforce. The Deputy will be aware that childcare is often a consideration for a parent returning to work, particularly in the case of the second parent. The Early Childhood Care and Education Programme, which is operated by my colleague, the...

Written Answers — Department of Finance: Mortgage Interest Rates (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 38, 42 and 51 together. In relation to mortgage interest rates, the Programme for Government makes it clear that it is not ethically acceptable for Irish banks to charge excessive interest rates on standard variable rate customers. The Government has committed to take all necessary action to tackle high variable interest rates; including through...

Written Answers — Department of Finance: Tobacco Smuggling (18 May 2016)

Michael Noonan: I am advised by Revenue that there were 40 convictions in respect of tobacco and cigarette smuggling in 2015. There were 8 convictions during the first 4 months of 2016. Currently, there are 81 tobacco and cigarette smuggling prosecution cases ongoing, at various stages in the prosecution process. Fines of €65,150 were imposed in 2015 for tobacco and cigarette smuggling, and...

Written Answers — Department of Finance: Tax Relief Application (18 May 2016)

Michael Noonan: The details of proposals for changes to this relief have not been finalised. They will be developed as part of the Budget and Finance Bill process and will be subject to Dáil scrutiny. It may be worth noting, however, that the relief as introduced in Finance Act 2015 is not restricted to new businesses.

Written Answers — Department of Finance: Fuel Traders Licences (18 May 2016)

Michael Noonan: I am informed by Revenue that the requirement that traders dealing in road fuels hold a licence has been in place many years and that an additional requirement for a licence for traders dealing in marked mineral oil was introduced in 2012. This new marked mineral oil licensing requirement was introduced in response to the threat posed to the exchequer and to legitimate business by fuel...

Written Answers — Department of Finance: Tax Forms (18 May 2016)

Michael Noonan: I am advised by Revenue that they do not issue or hold P60s for anyone. A P60 is issued by a person's employer at the end of each year. While Revenue does hold details of pay and tax as returned to them on the P35 Return from employers, I am advised that, in the case of the person concerned, Revenue has no such details as it appears the person concerned was self-employed. If the person...

Written Answers — Department of Finance: Pension Provisions (18 May 2016)

Michael Noonan: By way of background, an individual in a defined contribution pension savings arrangement (whether an occupational pension scheme or a personal pension) has the option of putting the funds accumulated under this arrangement into an Approved Retirement Fund (ARF) on retirement. Where such an individual is under the age of 75 at the time of exercising this option and does not meet the...

Written Answers — Department of Finance: Stability Programme Data (18 May 2016)

Michael Noonan: The Stability Programme Update (SPU), published last month following its submission to the European Commission, sets out my Department's assessment of the economic outlook to 2021 together with a detailed assessment of risks. My Department expects the economy to grow by 4.9 per cent this year, by 3.9 per cent next year and by 3.25 per cent on average over the remainder of the...

Written Answers — Department of Finance: Pension Provisions (18 May 2016)

Michael Noonan: Before Finance Act 1999 people with defined contribution pension savings had no option but to buy a pension income (called an annuity) with their savings after taking the allowable tax-free retirement lump sum. Changes since then have given people more choices for what to do with their pension savings. This is called the flexible options at retirement regime. These choices include taking a...

Written Answers — Department of Finance: Economic Growth (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 47 and 53 together. In general, I am greatly encouraged by recent data illustrating the positive performance of the Irish economy. Ireland's recovery is now firmly established and the Irish economy is growing at the fastest rate in Europe - with growth of 7.8 per cent recorded in 2015. In the Stability Programme Update or SPU, published at the end...

Written Answers — Department of Finance: Loan Books Purchasers (18 May 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated firm. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'. Credit Servicing Firms are now...

Written Answers — Department of Finance: Construction Sector Strategy (18 May 2016)

Michael Noonan: The recovery in the economy and the increase in the number of people at work has significantly contributed to an increased level of demand for housing. While there is evidence of a pick-up in housing supply, it is still far from the level necessary to meet demand. From my perspective, a number of measures have been implemented to help address the underlying problems, either...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (18 May 2016)

Michael Noonan: I propose to take Questions Nos. 50 and 55 together. As the Deputy is aware, small and medium sized businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy is focused on ensuring that all viable SMEs from every sector have access to an appropriate supply of credit from a diverse range of bank and non-bank sources. Officials...