Results 25,241-25,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Funding (29 Nov 2016)

Michael Noonan: There was no provision in the Vote for my Department for funding for projects for the years in question.

Written Answers — Department of Finance: Departmental Funding (29 Nov 2016)

Michael Noonan: There was no provision in the Vote for my Department for funding for projects for the years in question.

Written Answers — Department of Finance: Departmental Funding (29 Nov 2016)

Michael Noonan: There is no provision in the Vote for my Department for funding for projects in 2017.

Written Answers — Department of Finance: Tax Code (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 157 and 162 together. I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as...

Written Answers — Department of Finance: Mortgage Data (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 158 and 159 together. I am informed by the Central Bank that information collected by it relating to unregulated loan owners and retail credit firms, published in the Central Bank's quarterly statistics on mortgage arrears and repossessions, is subject to a strict confidentiality agreement with the providers of the data. It is, therefore, not...

Written Answers — Department of Finance: Banks Recapitalisation (29 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 160 and 161 together. As the Deputy is aware, the Central Bank of Ireland announced in October 2015 that it would conduct a detailed review of Tracker Mortgage portfolios with all the banks under its supervision. The Central Bank sought to conduct a broad examination of tracker mortgage-related issues covering, among other things, transparency of...

Written Answers — Department of Finance: Banking Sector Investigations (29 Nov 2016)

Michael Noonan: The Tomlinson report dealt with the lending practices of UK banks to Small and Medium Sized Enterprises (SMEs) and it alleged that a division of Royal Bank of Scotland (RBS), the Global Restructuring Group, was guilty of "systematic and institutional behaviour" in artificially distressing otherwise viable businesses. Following this report, the UK's Financial Conduct Authority (FCA) appointed...

Written Answers — Department of Finance: Departmental Reports (29 Nov 2016)

Michael Noonan: The information requested by the Deputy in relation to reports commissioned by my Department from external parties which were completed but not published is set out in tabular form in the table. As the Deputy is aware, the Department of Public Expenditure and Reform was established in 2011 and assumed certain functions previously held by the Department of Finance; therefore reports which...

Written Answers — Department of Finance: Departmental Agencies (29 Nov 2016)

Michael Noonan: I am assuming that the Deputy is referring to non-disclosure or confidentiality agreements which govern the ongoing relationship between my Department or the agencies which report to my Department and other organisations. There are no ongoing non-disclosure or confidentiality agreements between my Department with any organisations arising from court action or threatened...

Written Answers — Department of Finance: Mortgage Lending (29 Nov 2016)

Michael Noonan: The supplementary material provided by the Deputy in respect of this question would appear to refer to the Central Bank statement of 23 November 2016 regarding changes to its macro-prudential mortgage lending rules and which will come into effect from 1 January 2017. These mortgage lending control measures apply to any Central Bank regulated financial provider which provides a mortgage...

Written Answers — Department of Finance: Departmental Staff (29 Nov 2016)

Michael Noonan: I wish to inform the Deputy that I have not appointed additional Special Advisors. I have 2 Special Advisors in accordance with Section 11 of the Public Service Management Act, 1997. The responsibilities of Minister of State Eoghan Murphy TD spans both the Department of Finance and the Department of Public Expenditure and Reform. In that regard, I have been informed that the Minister...

Written Answers — Department of Finance: Tax Collection (30 Nov 2016)

Michael Noonan: I am advised by Revenue that in the event that an incorrect self assessment by a section 110 company is identified by Revenue, the taxpayer will be pursued for any tax liabilities that arise together with any interest and penalties. In Section 22 of the 2016 Finance Bill I have brought forward changes as to how section 110 companies are taxed.  These changes, which are...

Written Answers — Department of Finance: Tax Code (30 Nov 2016)

Michael Noonan: The Finance Bill 2016 has just been passed by Dáil Éireann and is due to be considered by the Seanad in December.  In Section 52 of the Bill, I have provided for an amendment to section 86 of the Capital Acquisitions Tax Consolidation Act 2003, the section that provides an exemption from capital acquisitions tax on the inheritance or gift of a dwelling house in certain...

Written Answers — Department of Finance: Insurance Coverage (1 Dec 2016)

Michael Noonan: The flooding events last year raised issues in relation to flood insurance and I am aware of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses.  One of my primary concerns in the area of insurance is that homeowners have access to insurance to cover unforeseen losses, including...

Written Answers — Department of Finance: Tax Collection (1 Dec 2016)

Michael Noonan: I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as critical to maintaining the integrity of the taxation system and...

Written Answers — Department of Finance: Insurance Costs (1 Dec 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, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (1 Dec 2016)

Michael Noonan: To be eligible to apply for the Help to Buy incentive, a first-time buyer must have signed a contract to purchase a new build property on or after the 19th July 2016. In the case of a self-build home, they must have drawn down the first tranche of the relevant mortgage on or after that date. The full conditions of the scheme and its commencement remain subject to...

Written Answers — Department of Finance: Mortgage Applications Approvals (1 Dec 2016)

Michael Noonan: I am not familiar with cases where issues have arisen related specifically to lending practices for new businesses secured by mixed-use property. However, I am aware that most banks will consider that a mixed-use property is an acceptable form of security for business loans, except where any particular use is likely to restrict the Bank's ability to realise its...

Written Answers — Department of Finance: Banking Licence Applications (1 Dec 2016)

Michael Noonan: The Central Bank has seen a significant number of enquiries that are Brexit related since the June referendum across all sectors including banking, insurance, investment firms, funds and fund service providers, payments and fintech. The vast majority of enquiries have been exploratory in nature, however recently they are seeing a number of these enquiries beginning to advance...

Written Answers — Department of Finance: Banking Licence Applications (1 Dec 2016)

Michael Noonan: I am informed by the Central Bank that the assessment of authorisation applications and the approach taken differs depending upon the type of firm and sector.  In some sectors such as funds licensing, the turnaround time is a matter of days. In other areas the timing prescribed by EU law is a matter of months, once an application is considered as complete.  In between these...