Results 23,141-23,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Motor Insurance Coverage (21 Jun 2016)

Michael Noonan: I am advised that the matter raised by the Deputy in this Parliamentary Question relates to motor insurance. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, may interfere in the provision or pricing of insurance products. The EU framework for...

Written Answers — Department of Finance: Motor Insurance Coverage (21 Jun 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, may interfere in the provision or pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of...

Written Answers — Department of Finance: Insurance Costs (21 Jun 2016)

Michael Noonan: Differing reasons have been put forward by various interested parties to explain Ireland's current increasing insurance costs.  Motor insurance appears to be particularly affected with the cost of premiums increasing significantly in the past 12 months.  In fact, there are a number of factors that drive the cost of insurance. Reasons often presented include the increased level...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (21 Jun 2016)

Michael Noonan: As the Deputy is aware, a Primary Medical Certificate is required to claim the tax reliefs provided under the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.  The Senior Medical Officer for the relevant local Health Service Executive administrative area makes a professional clinical determination as to whether an individual applicant satisfies the medical criteria to...

Written Answers — Department of Finance: Motor Insurance Coverage (21 Jun 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation but am prohibited from interfering in the provision or pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the...

Written Answers — Department of Finance: IBRC Staff (21 Jun 2016)

Michael Noonan: I am informed by the Special Liquidators that employee claims for an additional four weeks pay per year of service over and above statutory redundancy entitlements have been reviewed and adjudicated by the Special Liquidators. The Special Liquidators have confirmed that, based on legal advice, these claims for additional redundancy entitlements  have not been admitted as...

Written Answers — Department of Finance: VAT Rate Application (21 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 113, 116 and 126 together. The 9% reduced VAT rate for tourism related services was introduced in July 2011 as part of the Government Jobs Initiative. The measure was designed to boost tourism and create additional jobs in that sector. In my Budget Day speech last year, I suggested that while the case for retaining the measure for the hotel sector in...

Written Answers — Department of Finance: Departmental Schemes (21 Jun 2016)

Michael Noonan: I am informed by Revenue that statistics regarding the tax cost and number of claims for the Research and Development tax credit are available on the Revenue Statistics webpage at .Information for the tax year 2015 is not yet available as tax returns for this year are not due to be returned in many cases until later in 2016. It is not possible to provide data on the number of jobs created...

Written Answers — Department of Finance: Universal Social Charge (21 Jun 2016)

Michael Noonan: The Summer Economic Statement published by Government today reflects the tax and spending priorities set out in the Programme for a Partnership Government (PPG). As the Deputy is aware, there is a commitment in the PPG  to ask the Oireachtas to continue to phase out the USC as part of a wider medium-term income tax reform plan that keeps the tax base broad, reduces excessive tax rates...

Written Answers — Department of Finance: Pension Provisions (21 Jun 2016)

Michael Noonan: The context in which the particular references to the pension issues of interest to the Deputy were raised in the briefing document was in relation to the development of a universal retirement savings system for that half of the Irish workforce who do not have supplementary pension coverage. Officials of my Department, together with those of other Government Departments and Agencies (as...

Written Answers — Department of Finance: EU Meetings (21 Jun 2016)

Michael Noonan: I attended the Bilderberg meeting from 10-12 June 2016 in Dresden, Germany. I, like a number of European ministers, was invited to attend given my position as Minister for Finance. For further information, I would point the Deputy to the Bilderberg Meetings website (www.bilderbergmeetings.org) which includes information on the organisation's governance, steering committee, meetings,...

Written Answers — Department of Finance: EU Meetings (21 Jun 2016)

Michael Noonan: I attended the Bilderberg meeting from 10-12 June 2016 in Dresden, Germany. I, like a number of European ministers, was invited to attend given my position as Minister for Finance. For further information, I would point the Deputy to the Bilderberg Meetings website (www.bilderbergmeetings.org) which includes information on the organisation's governance, steering committee, meetings,...

Written Answers — Department of Finance: Tax Settlements (21 Jun 2016)

Michael Noonan: I am informed by Revenue that non-publication of a tax settlement applies only where the details of the settlement are specifically excluded from publication by virtue of provisions of Section 1086 of the Taxes Consolidation Act, 1997 as set out in Revenue's Code of Practice for Revenue Audit .I am advised by Revenue that there is no separate non-publication procedure operated by them for any...

Written Answers — Department of Finance: Financial Services Regulation (21 Jun 2016)

Michael Noonan: I presume the Deputy is referring to Statutory Instrument 281 of 2010 European Communities (Consumer Credit Agreements) Regulation 2010 (which transposed Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC). Regulation 11 of the Statutory Instrument transposed Article 8(1) the...

Written Answers — Department of Finance: Tax Relief Eligibility (21 Jun 2016)

Michael Noonan: Some of the details supplied in connection with this question are unclear. However, it would appear to refer primarily to a proposal to allow tax relief on the capital repayment element of a loan for new social housing. The Deputy will be aware that I introduced a new tax relief in Finance Act 2015 which allows a full 100% mortgage interest deduction where a landlord undertakes, for a...

Written Answers — Department of Finance: Tax Relief Eligibility (21 Jun 2016)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Tax Code (21 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 124 and 125 together. In June 2014, the Competition Directorate of the European Commission announced its intention to open formal state aid investigations into tax rulings provided to a number of companies in various Member States of the European Union. Since October 2015, investigations in three other Member States have concluded. In each of these...

Written Answers — Department of Finance: Economic Competitiveness (21 Jun 2016)

Michael Noonan: There are numerous sources of uncertainty at present which pose risks to the central forecast set out in the Stability Programme Update 2016. Principal among them is the prospect of the UK voting to leave the European Union. An assessment of the potential economic impact of such an outcome is set out below. Recently published work by both the UK Treasury and the UK's National...

Written Answers — Department of Finance: Inflation Rate (21 Jun 2016)

Michael Noonan: The debt profile, the ratio of general government debt to GDP,  is driven by developments in the stock of general government debt and nominal, or current prices, GDP. Nominal GDP, in turn, is determined by both real economic activity and the GDP deflator - which measures price changes in the economy as whole. All else being equal, a lower than expected pace of inflation will lower the...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (21 Jun 2016)

Michael Noonan: The provision of insurance cover is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  In my role as Minister for Finance, I have responsibility for the development of the legal framework governing financial regulation. Neither I, nor the Central...