Results 23,241-23,260 of 27,019 for speaker:Michael Noonan

Other Questions: NAMA Operations (23 Jun 2016)

Michael Noonan: I do my job as Minister. The Deputy makes allegations under privilege. He made highly non-specific allegations. If the Deputy has specific information, he should put it on the record and give it to the Garda.

Other Questions: Statute of Limitations (23 Jun 2016)

Michael Noonan: When I group them, Deputies seek to have them answered separately. That is why they are answered separately.

Other Questions: Statute of Limitations (23 Jun 2016)

Michael Noonan: The operation of the law regarding the Statute of Limitations is a matter for my colleague, the Tánaiste and Minister for Justice and Equality, and I understand it is the subject of ongoing review in her Department. I am given to understand the review is taking account of the Law Reform Commission report on limitation of actions published in December 2011. That report...

Other Questions: Statute of Limitations (23 Jun 2016)

Michael Noonan: As I already have stated, the Tánaiste and Minister for Justice and Equality is examining the Statute of Limitations legislation. I also stated that a decision by the Central Bank to take enforcement action is not constrained by time limits but is considered on a case-by-case basis. Under the delegation orders from the Minister for Finance, the Minister of State, Deputy Eoghan Murphy,...

Written Answers — Department of Finance: EU Meetings (23 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 () which includes information on the organisation's governance, steering committee, meetings, attendees, agendas and associated...

Written Answers — Department of Finance: Tax Code (23 Jun 2016)

Michael Noonan: The introduction of a tax on sugar-sweetened drinks (SSDs) is part of the Programme for a Partnership Government. The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending and contribute towards funding the reduction in personal taxes. My officials, together with officials from the Department of Health and the Revenue...

Written Answers — Department of Finance: Banking Sector Remuneration (23 Jun 2016)

Michael Noonan: In the first instance, I wish to confirm for the Deputy that the Government policy on remuneration at the banks which has been in place since mid-2011 is fully enforced. The central plank of this policy, which is the pay cap of €500,000, was subject to pre-existing contractual rights. The current remuneration of Bank of Ireland's CEO, which has not been increased since that...

Written Answers — Department of Finance: NAMA Loans Sale (23 Jun 2016)

Michael Noonan: NAMA's continued progress is evident in the recently published 2015 Annual Report and Accounts. NAMA's results highlight the continued achievements of NAMA and the positive impact NAMA is having on Ireland's sustained recovery in carrying out its mandate both in terms of debt redemption, the delivery of the Dublin Docklands SDZ and the commercial funding of...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Jun 2016)

Michael Noonan: As the Deputy will be aware, the Central Bank examination of tracker mortgage related issues covers all lenders which offered tracker mortgages to customers, including both for the family home and investment properties from when the lenders started to offer such mortgages, up to the end of 2015.  The purpose of the Examination is to identify any cases where: - customers'...

Written Answers — Department of Finance: VAT Rate Reductions (23 Jun 2016)

Michael Noonan: The VAT treatment of goods and services is subject to the requirements of EU VAT law (primarily Council Directive 2006/112/EC) with which Irish VAT law must comply. Article 110 of the EU VAT Directive permits Member States to retain historical zero-rated VAT treatment where a good or service was zero rated on and from 1 January 1991, but no new zero rates can be introduced. As a...

Written Answers — Department of Finance: Strategic Banking Corporation of Ireland (23 Jun 2016)

Michael Noonan: Small and Medium Enterprises (SMEs) are the lifeblood of the Irish Economy. They make up the vast majority of businesses in Ireland and account for approximately seven in every ten jobs. Supporting the finance needs of these businesses is therefore a priority for this Government. The Strategic Banking Corporation of Ireland (SBCI) was incorporated in September 2014 and its goal is to...

Written Answers — Department of Finance: NAMA Social Housing Provision (23 Jun 2016)

Michael Noonan: It is important not to confuse Section 2, the purposes of the NAMA Act, with Section 10, the purposes of NAMA and that the purposes of NAMA were established in fulfilment of the purposes of the Act. It is precisely through the establishment of NAMA's commercial mandate that the purposes of the Act, including "to contribute to the social and economic development of...

Written Answers — Department of Finance: Fiscal Policy (23 Jun 2016)

Michael Noonan: The current estimates of the net fiscal space available for 2017 and 2018, are €1 billion and €1.2 billion respectively. These are published in Table 2 on page 15 of the Summer Economic Statement and are consistent with compliance to our obligations under the expenditure benchmark which calculates fiscal space in line with the potential growth rate of GDP less a convergence...

Written Answers — Department of Finance: NAMA Loans Sale (23 Jun 2016)

Michael Noonan: There have been a number of calls for a Commission of Investigation into Project Eagle. The allegations of wrongdoing that are being criminally investigated are extremely concerning. We continue to monitor the situation as these criminal investigations progress. If appropriate lines of inquiry do come to light which could usefully be pursued by a Commission of Investigation they will be...

Written Answers — Department of Finance: VAT Rebates (23 Jun 2016)

Michael Noonan: The VAT treatment of goods and services is subject to the requirements of EU VAT law (primarily Council Directive 2006/112/EC) with which Irish VAT law must comply. Under the VAT Directive, construction services are liable to VAT and no exemptions are permitted, whether for specified purposes or otherwise.   In order to maintain the integrity of the VAT system Ireland has...

Written Answers — Department of Finance: State Aid Investigations (23 Jun 2016)

Michael Noonan: 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 cases the Commission found that the Member States...

Written Answers — Department of Finance: Credit Unions (23 Jun 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. Progress has been made on a number of the Programme for a Partnership Government commitments including the following: - The Implementation Group of the Personal Microcredit Scheme is committed to achieving the rollout and extension...

Written Answers — Department of Finance: State Banking Sector (23 Jun 2016)

Michael Noonan: As the deputy is aware, the State has a shareholding of 99.9% in AIB and of 14% in Bank of Ireland. These are valuable assets to the State and it is this Government's intention that the State would exit these investments in a measured and careful manner. As I have indicated on a number of occasions, my primary objective in the disposal of these assets will be recovering the maximum amount...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (23 Jun 2016)

Michael Noonan: I have been informed by the Central Bank that the examination of tracker mortgage related issues covers all lenders which offered tracker mortgages to customers, including both for the family home and investment properties from when the lenders started to offer such mortgages, up to the end of 2015.  The Central Bank have stated that each lender is required to conduct a comprehensive...

Written Answers — Department of Finance: Mortgage Lending (23 Jun 2016)

Michael Noonan: As the Deputy is aware, the Central Bank's macro-prudential limits on mortgage lending came into effect on 9th February 2015. The policy sets restrictions on the loan-to-value (LTV) and Loan-to-Income (LTI) ratios on products that can be offered by mortgage providers. There are a number of exemptions allowed for within the CBI guidelines, for example, mortgage switchers or forbearance...