Results 23,281-23,300 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (23 Jun 2016)

Michael Noonan: I am aware of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and the flooding crisis last winter has raised issues in relation to insurance and flooding. However, 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...

Written Answers — Department of Finance: Financial Services Ombudsman (23 Jun 2016)

Michael Noonan: The Financial Services Ombudsman's Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. The legislation provides for an independent, impartial investigation and resolution of disputes between consumers and financial service providers. This legislation also provides the Financial Services Ombudsman with various powers in order to...

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

Michael Noonan: Our strategy envisages Permanent TSB ("PTSB") playing an important role in the future of Irish retail banking ( including personal and consumer banking) as a retail bank bringing competition to the marketplace which has consolidated significantly since 2008.  PTSB is an important bank in a highly concentrated Irish market lending...

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

Michael Noonan: The Deputy will be aware that in 2015, Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax, conducted a review at my request to consider, and make recommendations, on the operation of the LPT, and any impacts on LPT liabilities due to property price developments. The Finance (Local Property Tax) (Amendment) Act...

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

Michael Noonan: In Budget and Finance Act 2013, I introduced a capital gains tax (CGT) relief to cover situations where the proceeds from the sale of agricultural land by farmers are used to reinvest in other farmland for farm restructuring purposes. The rationale behind the relief is to enable farmers to consolidate disparate holdings of farmland in order to make their farming business more productive and...

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

Michael Noonan: I am informed by the Central Bank that at the end of April 2016, the Enforcement Division had 53.8 active staff. Its target staff level is 71.5. The Central Bank is currently in the midst of a recruitment campaign aimed at filling vacancies at varying levels of experience. The Bank has informed me that it keeps its resource allocation under constant review and will be...

Written Answers — Department of Finance: Loan Books Purchasers (23 Jun 2016)

Michael Noonan: As the Deputy will be aware, 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 entity. 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: Central Bank of Ireland (23 Jun 2016)

Michael Noonan: The Central Bank, which has an independent mandate to preserve and protect financial stability, introduced mortgage lending regulations to increase the resilience of the banking and household sectors to the property market and to reduce the risk of bank credit and house price spirals from developing in the future.  The current regulations, as introduced in February 2015, provide for...

Written Answers — Department of Finance: National Debt (23 Jun 2016)

Michael Noonan: The General Government sector consists of what are typically thought of as Government units in Ireland's case these would include Departments of State and their associated Offices and Local Authorities. However, other units may also be classified to the government sector if they are controlled by Government and if they are classified as "non-market producers". The General Government sector...

Written Answers — Department of Finance: Corporation Tax (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 granted an...

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

Michael Noonan: The Deputy will be aware that in 2015, Dr. Don Thornhill, who chaired the 2012 Inter-Departmental Group which designed the Local Property Tax, conducted a review at my request to consider, and make recommendations, on the operation of the LPT, and any impacts on LPT liabilities due to property price developments.  The Finance (Local Property Tax) (Amendment)...

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

Michael Noonan: In Budget and Finance Act 2013, I introduced a capital gains tax (CGT) relief to cover situations where the proceeds from the sale of agricultural land by farmers are used to reinvest in other farmland for farm restructuring purposes. The rationale behind the relief is to enable farmers to consolidate disparate holdings of farmland in order to make their farming business more productive and...

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

Michael Noonan: I am informed by the Central Bank that at the end of April 2016, the Enforcement Division had 53.8 active staff. Its target staff level is 71.5. The Central Bank is currently in the midst of a recruitment campaign aimed at filling vacancies at varying levels of experience. The Bank has informed me that it keeps its resource allocation under constant review and will be...

Written Answers — Department of Finance: Loan Books Purchasers (23 Jun 2016)

Michael Noonan: As the Deputy will be aware, 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 entity. 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: Credit Availability (23 Jun 2016)

Michael Noonan: The Central Bank, which has an independent mandate to preserve and protect financial stability, introduced mortgage lending regulations to increase the resilience of the banking and household sectors to the property market and to reduce the risk of bank credit and house price spirals from developing in the future.  The current regulations, as introduced in February 2015, provide for...

Written Answers — Department of Finance: General Government Debt (23 Jun 2016)

Michael Noonan: The General Government sector consists of what are typically thought of as Government units in Ireland's case these would include Departments of State and their associated Offices and Local Authorities. However, other units may also be classified to the government sector if they are controlled by Government and if they are classified as "non-market producers". The General Government sector...

Written Answers — Department of Finance: Corporate Tax Compliance (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 granted an...

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

Michael Noonan: I am aware of the concerns that fuel traders in the border counties have expressed that the price differential with Northern Ireland for solid fuel could give rise to trade distortions. The introduction of Carbon Tax was about sending a price signal that there is a cost associated with the consumption of fossil fuels to the detriment of the environment. In this regard solid fuels,...

Written Answers — Department of Finance: Postal Services (23 Jun 2016)

Michael Noonan: My Department has engaged with An Post in relation to the provision of payment accounts and the requirements of the Payment Accounts Directive which my Department is currently transposing.  A public consultation on the national discretions contained in the Payment Accounts Directive was held last year and my Department is engaging with An Post and other stakeholders on this issue. ...

Written Answers — Department of Finance: Universal Social Charge Abolition (23 Jun 2016)

Michael Noonan: The Summer Economic Statement published by Government this week reflects the tax and spending priorities set out in the Programme for a Partnership Government (PPG) and sets out the expected available fiscal space from 2017 to 2021. Over the period to 2021, the split in the use of fiscal space between spending and tax reductions is broadly in line with the Government Programme commitment...