Results 24,661-24,680 of 27,019 for speaker:Michael Noonan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: I have got a general piece which I will read. The briefing is by way of question and answer. The question is: will the Minister allow for an appeal and a full rehearing to be made to the Circuit Court? The complainants can decide at the outset whether to bring their dispute to the appropriate court, depending on the quantum of their claim or alternatively to complain to the ombudsman free...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: The briefing note also makes the point, as the committee will have heard, that complainants who intend going to court anyway would use it as a kind of pipe opener free of charge to see where the land lies before they proceed to the courts. One might get a flood of complaints where the intention of the complainant was never to conclude them within the ambit of the ombudsman's powers but to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: A Circuit Court review on appeal on a point of law would not be any more detailed than that of a High Court appeal in that no new evidence is submitted and the court is not rehearing old evidence. As such, a new perspective on the evidence would not apply. The adjudication would be whether the ombudsman erred in law or not. That would be the net point. Whether the appeal is to the Circuit...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: The issue raised by the Senator is largely a separate issue. I have already responded to the effect that they would fall within the remit of the legislation if the institutions involved are regulated financial services entities. As I understand it, they are. In regard to the other points made by the Senator, I would need evidence from him that what he is saying is happening. My...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: If the Senator can send me on evidence I will pass it on to the Central Bank. If a vulture fund is operating in that way it is operating illegally.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of Financial Services and Pensions Ombudsman Bill 2016 and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Discussion (27 Oct 2016)

Michael Noonan: I thank the Chairman and members of the committee for their questions.

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: Details of the Help To Buy scheme, which I announced in Budget 2017, are set out in Finance Bill 2016 which was published on 20 October.  The Bill provides that, in the case of a self-build residence, a first-time buyer must take out a mortgage in an amount which is at least 70% of the valuation of the residence as approved by the mortgage provider.  The calculation of the 5%...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: Details of the Help To Buy scheme, which I announced in Budget 2017, are set out in Section 8 of Finance Bill 2016 which was published on 20 October.  To qualify for the scheme, a new-build is a property that has not been previously used as a residence. If the property in question falls within the definition of a qualifying residence for the purposes of the legislation then the property...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (2 Nov 2016)

Michael Noonan: As the Deputy is aware, small and medium sized businesses, including those in the hotel and catering industry, play a central role in the sustainable recovery of the Irish economy.  Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.   In terms of monitoring the requirements...

Written Answers — Department of Finance: Tax Collection (2 Nov 2016)

Michael Noonan: I am advised by Revenue that a copy of the Notice of Assessment for 2014 which was issued previously to the person concerned has been issued again to him both by post and electronically to his ROS inbox.

Written Answers — Department of Finance: Banking Sector (2 Nov 2016)

Michael Noonan: First, I would highlight that I have no statutory role in relation to banking decisions made by financial institutions to provide, alter or amend the range of services which it provides. This is ultimately a commercial decision for the management team and board of each lending institution, having due regard to their customers.  Second, the Deputy...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (2 Nov 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: Credit Union Lending (2 Nov 2016)

Michael Noonan: The Government recognises the important role of credit unions as a volunteer co-operative movement in this country as well as their key role in providing access to credit and other important services in local communities throughout the country. It is fair to say that credit unions have gone through a period of considerable change since the Commission on Credit Unions Report was...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: The potential impact of the Help to Buy incentive on supply and demand conditions in the housing market was considered by my officials as part of their analysis of the proposed scheme and the design of the relevant parameters of the incentive. Among other issues, officials also considered the potential impact on land prices, demand, and potential mortgage lending. The...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: I assume the Deputy is asking for all persons or organisations that I or my officials consulted with, rather than all those who raised the Help to Buy scheme with me. As the Deputy will appreciate, I met with a range of bodies prior to the Budget, as part of the annual pre Budget submission and meeting process, and many of these bodies would have raised requests for a scheme to assist with...

Written Answers — Department of Finance: Help-To-Buy Scheme (2 Nov 2016)

Michael Noonan: Under the Help to Buy initiative, subject to satisfying the full conditions of the scheme, a first time purchaser will be entitled to claim a refund of income tax and DIRT paid over the previous four years.  The terms of the scheme are set out in Finance Bill 2016.  The refund will be subject to a maximum of 5% of the purchase price of a new home, or in the case of a self-build...

Written Answers — Department of Finance: Budget Measures (2 Nov 2016)

Michael Noonan: I can confirm that there are no measures in Finance Bill 2016 which require EU approval, nor are there any Finance Bill measures from previous years for which EU approval is pending.

Written Answers — Department of Finance: Tax Code (2 Nov 2016)

Michael Noonan: I am informed by Revenue that a double taxation treaty between Ireland and the UK provides for the relief of double taxation in respect of inheritances that are taxed in both jurisdictions. The treaty is based on the credit method of relief, i.e. both countries impose tax on inheritances under their own domestic law and, in relation to property, the country where the property is situated...

Written Answers — Department of Finance: Knowledge Development Box (2 Nov 2016)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base was published on 25 October.  This is a Commission proposal which has not yet been discussed or considered by Member States.  The proposal will now be discussed by Member States and it is likely to be subject to significant reshape and renegotiation as these discussions progress.  These discussions...

Written Answers — Department of Finance: Interdepartmental Working Groups (2 Nov 2016)

Michael Noonan: An Inter-Departmental Flood Policy Co-ordination Group has been established to examine the issue of flooding, and to ensure a whole of Government approach in the area of Flood Policy. This Group is chaired by Seán Canney TD, Minister of State with special responsibility for the OPW and Flood Relief. The OPW are the lead agency and have responsibility for co-ordinating and submitting...