Results 25,561-25,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Housing Policy (17 Jan 2017)

Michael Noonan: As the Deputy will be aware, overall responsibility for housing policy rests in the first instance with the Minister for Housing, Planning, Community and Local Government.  The Government, however, is aware of the significant issues facing the housing market and it is committed to restoring the housing market to a sustainable equilibrium by seeking to increase the supply of housing to...

Written Answers — Department of Finance: Pension Provisions (17 Jan 2017)

Michael Noonan: Before Finance Act 1999 people with defined contribution pension savings had no option but to buy a pension income (called an annuity) with their savings after taking the allowable tax-free retirement lump sum. Changes since then have given people more choices for what to do with their pension savings. This is called the flexible options at retirement regime. These choices include taking a...

Written Answers — Department of Finance: Credit Availability (17 Jan 2017)

Michael Noonan: 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 this regard the Government has developed a number of initiatives to ensure that the supply of credit in the market is sufficient to meet the existing and future needs of SMEs. As the Deputy if aware, a key objective of the...

Written Answers — Department of Finance: Credit Availability (17 Jan 2017)

Michael Noonan: As the Deputy is aware, supporting SMEs, including those in the farming community, in terms of access to finance has been a cornerstone policy for Government in our efforts to rebuild the economy and bring back jobs.  In terms of monitoring the working capital requirements for SMEs, my Department commissions biannual surveys to ascertain the demand for credit by SMEs.  This...

Written Answers — Department of Finance: VAT Rate Reductions (18 Jan 2017)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of the EU VAT Directive with which Irish VAT law must comply.  In general, the Directive provides that all goods and services are liable to VAT at the standard rate, currently 23% in Ireland, unless they fall within the lists of goods and services specified in Annex III of the Directive, in respect of which Member States...

Written Answers — Department of Finance: Vehicle Registration (18 Jan 2017)

Michael Noonan: I am informed by Revenue that the application from the person (details supplied) for a refund of VRT on a car under the VRT Export Refund Scheme was approved for payment on 16thJanuary 2017 and payment will be in the person's bank account within 3-5 working days. The person concerned has been informed of this by...

Written Answers — Department of Finance: Banking Sector Regulation (18 Jan 2017)

Michael Noonan: There were a number of issues raised in the course of the interview referred to. Firstly, on the issue of liquidity breaches at Unicredit Ireland in 2007, the Central Bank has informed me of the sequence of events and the actions of the Central Bank in relation to those breaches, which are as follows. In August 2007, the Central Bank of Ireland was notified by Unicredit Ireland of an...

Written Answers — Department of Finance: Tax Reliefs Costs (18 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 91 and 92 together. It is worth noting that a similar question was raised in 2012 (Ref No: 12336/12). Therefore, this response follows on from the information provided in 2012. Claims for relief from double taxation ("correlative adjustments") arise in Ireland as a result of an upward adjustment to company profits in a country with which we have a double...

Written Answers — Department of Finance: Help-To-Buy Scheme (19 Jan 2017)

Michael Noonan: I assume the Deputy is enquiring about the parameters of the Help to Buy incentive which was initially announced on 19 July 2016 as part of the "Rebuilding Ireland: Action Plan for Housing and Homelessness." The design of the scheme was outlined in Budget 2017, and the full details were set out in Finance Act 2016. The initiative aims to assist a first-time purchaser fund the...

Written Answers — Department of Finance: Help-To-Buy Scheme (19 Jan 2017)

Michael Noonan: I assume the Deputy is referring to the 'Help to Buy' incentive which was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness' and provided for in the recent Budget and Finance Act. The Action Plan contains a significant volume of responses to the current housing crisis, of which the Help to Buy incentive is...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (19 Jan 2017)

Michael Noonan: Retrospective claimants for the Help to Buy incentive are taxpayers who have either contracted to purchase, or have drawn down the first tranche of their qualifying loan to self-build their home, in the period between 19 July 2016 and 31 December 2016, inclusive. I am advised by Revenue that the online claim process for retrospective claimants differs from that for current...

Written Answers — Department of Finance: Bank IT Systems (19 Jan 2017)

Michael Noonan: I have consulted with the Central Bank on this matter and I understand that it does not hold the data sought. Customers have a legitimate expectation of high quality, uninterrupted services, whether provided through traditional or online channels. It is my role as Minister for Finance to put in place an appropriate legislative framework for the regulation of the financial services...

Written Answers — Department of Finance: Banking Operations (19 Jan 2017)

Michael Noonan: I am aware that my officials in the Department of Finance were in contact with the Deputy's office and received confirmation of the hedge fund to which the question refers to. I can confirm that I had no such consultation, as described in the Deputy's question, in relation to this fund, nor am I aware of any officials in my Department having done so. Furthermore,...

Written Answers — Department of Finance: Banking Operations (19 Jan 2017)

Michael Noonan: I am aware that my officials were in contact with the Deputy's office to confirm the identity of two parties to which the question refers. As far as I am aware, neither I nor my officials have consulted with the two parties or their representatives, as identified by the Deputy's office, in relation to legal action taken by these parties against the bank referred to in...

Written Answers — Department of Finance: Credit Availability (19 Jan 2017)

Michael Noonan: As the Deputy is aware, Government policy is focused on ensuring that all viable small and medium sized businesses have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.  The Deputy will also be aware that, in my role as Minister for Finance, I have no direct function in the relationship between the banks and their customers.  Also, I have...

Written Answers — Department of Finance: Credit Union Data (19 Jan 2017)

Michael Noonan: There are currently three funds in place which can be utilised under certain conditions to fund credit unions, two of which have been supported by public funding.  1. The Credit Institutions Resolution Fund (CIRF) The CIRF was established under Section 10(1) of the Central Bank and Credit Institutions (Resolution) Act 2011 (2011 Act)....

Written Answers — Department of Finance: Credit Union Regulation (19 Jan 2017)

Michael Noonan: The Registrar of Credit Unions at the Central Bank recognises the strategic challenges facing the sector, the need to revitalise business models and to find ways of doing business to better serve members, delivering on their expectations. The Registrar of Credit Unions is currently engaging with both credit unions and the Representative Bodies on their business model development...

Written Answers — Department of Finance: Credit Union Data (19 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 84 and 87 together. I have been informed that in February 2015 the Central Bank commenced a lending restriction review initiative, whereby credit unions subject to a lending restriction that are satisfied they have made the necessary improvements and have embedded these improvements in robust risk sensitive lending practices, could apply for a review of their...

Written Answers — Department of Finance: Credit Union Data (19 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 85, 86 and 88 together. The Credit Union Act 1997 (the 1997 Act) and the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (which set out services exempt from additional services regulations) set out the services that a credit union may provide to its members. These include loans; savings; account access by phone; account access by...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (19 Jan 2017)

Michael Noonan: The commencement date for the Help to Buy scheme of 19 July 2016 was chosen as it was the date of the launch of 'Rebuilding Ireland Action Plan for Housing and Homelessness, in which the development of such a scheme for inclusion in the Budget was initially announced. The intention to backdate this tax incentive to this date was announced at that time with a view to...