Results 26,401-26,420 of 27,019 for speaker:Michael Noonan

Other Questions: Help-To-Buy Scheme (4 Apr 2017)

Michael Noonan: -----except once-off houses in rural parts of Ireland. There are a lot of starter homes being built now and the young couples I am talking about are being assisted by this scheme. It does not apply to second hand houses or anything other than new builds. It is stimulating new builds.

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: I thank Deputy Catherine Connolly for tabling the question and Deputy Mick Wallace for acting as proxy and articulating the issue in the House. I am satisfied NAMA has made and continues to make a significant contribution to the social and economic development of the State.  Its principal contribution to social and economic development has been the major progress that it has made in...

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: The issue in the question is whether NAMA is delivering on its social mandate under the NAMA Act. I have already stated that it has delivered 2,370 residential units through NARPS. When it began in 2010, there were 332 unfinished housing estates. There is now 11 because it finished out all those estates. It has, therefore, contributed significantly to housing supply. It is also now...

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: While I do not wish to comment on individual cases, I have already cited examples of cases where NAMA is fulfilling its social mandate in an extensive manner. I also referred the Deputy to NAMA's website, www.nama.ie/social-initiatives, where he will find details of the various social initiatives the agency has taken under the Act.

Other Questions: Tracker Mortgages (4 Apr 2017)

Michael Noonan: The Central Bank (Supervision and Enforcement) Act 2013 has given powers to the Central Bank to direct the payment of redress to customers, where appropriate. However, this provision does not have a retrospective effect and the Central Bank does not have the statutory power to compel lenders to implement redress and compensation programmes in respect of failures that occurred prior to the...

Other Questions: Tracker Mortgages (4 Apr 2017)

Michael Noonan: The Central Bank is insisting that redress is paid by the offending banks to persons affected by this issue, even if the redress obligation arises prior to the 2013 Act. In addition, affected customers do not have to accept the compensation offered and may go through an appeals process without prejudice to their other options of taking a second route of appeal, making a complaint to the...

Written Answers — Department of Finance: Brexit Issues (4 Apr 2017)

Michael Noonan: The Government's headline priorities in response to Brexit are well known minimising the impact on trade and the economy; protecting the Northern Ireland Peace Process; maintaining the Common Travel Area; and influencing the future of the European Union. It is quite clear that there are major challenges ahead, for the EU, the UK and for Ireland. The position in relation to the border...

Written Answers — Department of Finance: Bank Branch Closures (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 47, 48, 58, 84 and 229 together. I should say at the outset that I note with regret that Ulster Bank is closing a significant number of branches with considerable negative impacts on both staff and customers alike.  Officials from the bank in question briefed officials in my Department during the week of the announcement. The information was...

Written Answers — Department of Finance: Carer's Allowance Eligibility (4 Apr 2017)

Michael Noonan: Carer's Allowance is a means-tested payment for carers who look after individuals in need of care and attention on a full-time basis.  The Carer's Allowance, in common with many other social welfare payments, is regarded as a taxable source of income.  The level of tax payable, if any, on such income is then determined by the personal circumstances of the recipient, taking into...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (4 Apr 2017)

Michael Noonan: I am informed by the Central Bank that, while it cannot generally comment on interactions with regulated firms, Ulster Bank Ireland D.A.C. is engaging with the Bank in relation to this matter.  As the Deputy is aware, in November 2016, RBS announced a new complaints review process overseen by an independent third party and the automatic refund of complex fees to SME customers in Global...

Written Answers — Department of Finance: Banks Recapitalisation (4 Apr 2017)

Michael Noonan: The bank in question was required by the Central Bank of Ireland, its regulator, to raise new capital as part of its 2011 Prudential Capital Assessment Review (PCAR). As the State was a shareholder at the time, it faced the prospect of injecting further capital into the bank to protect its investment and support the bank at a time when economic and financial conditions were extremely...

Written Answers — Department of Finance: Tax Code (4 Apr 2017)

Michael Noonan: As part of the Government's Job Initiative in 2011, I introduced a temporary second reduced VAT rate of 9% in respect of tourism related services, including hotel and holiday accommodation; various entertainment services; the use of sporting facilities; hairdressing services; and various printed matter. This measure was aimed at boosting tourism and the creation of additional jobs...

Written Answers — Department of Finance: State Banking Sector (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 53 and 77 together. It is the Government's intention that the State will exit its banking investments in a measured and careful manner returning their ownership to the private sector over time. I have been clear in stating that my primary objective in the disposal of these assets will be recovering the maximum amount of money for the Irish taxpayer. In...

Written Answers — Department of Finance: NAMA Operations (4 Apr 2017)

Michael Noonan: Given that the Comptroller and Auditor General and his office have no dealings with the banks in which the State has investments or with IBRC, I am assuming that the Deputy is querying whether the Comptroller and Auditor General has raised concerns regarding the issues associated with IAS 39 with respect to NAMA and I am answering the question on that basis.  IAS 39 is the current...

Written Answers — Department of Finance: Revenue Commissioners (4 Apr 2017)

Michael Noonan: I am aware that Revenue offers a wide range of contact channels to support taxpayers in both understanding and voluntarily complying with their tax and duty obligations. The contact channels include online, self-service, telephony, postal and a network of public offices which facilitate either walk-in services or an appointments service. I am advised by Revenue that it has an ongoing...

Written Answers — Department of Finance: Illicit Trade in Fuel and Tobacco Products (4 Apr 2017)

Michael Noonan: Criminal activity of the kind referred to by the Deputy poses a serious threat to legitimate businesses, consumers and the Exchequer.  I am assured by Revenue that action against smuggling and other illicit trade of excisable products is, and will continue to be, a priority and that strategies to monitor and tackle existing and emerging areas of concern are embedded in Revenue's business...

Written Answers — Department of Finance: Brexit Issues (4 Apr 2017)

Michael Noonan: At an overall policy level, the Department of Jobs, Enterprise and Innovation is primarily responsible for SME policy.  In relation to SME finance, the Programme for Partnership Government sets out that all viable SMEs operating in Ireland should have the opportunity to access sufficient finance to meet their enterprise needs in a manner that supports growth and employment in the...

Written Answers — Department of Finance: Brexit Issues (4 Apr 2017)

Michael Noonan: As the Deputy will be well aware, the area of international financial services (IFS) is extremely competitive.  Although Ireland has been very successful in attracting global leaders in IFS over recent decades we cannot become complacent especially in the face of increased competition from other countries and, of course, in the context of Brexit.  This is why the Government...

Written Answers — Department of Finance: Tax Collection (4 Apr 2017)

Michael Noonan: Notwithstanding the appeal that the Government has lodged in the Apple State Aid case, Ireland is required to comply with the binding articles of the Commission's Final Decision and to recover the alleged aid from Apple. Irish officials are continuing this work to ensure that the State complies with all our recovery obligations. I note the recent reported comments made by the...

Written Answers — Department of Finance: Tax Reliefs Eligibility (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 61 and 88 together. Revenue administers mortgage interest relief in accordance with Section 244 of the Taxes Consolidation Act 1997. The level of relief applied to each case is based on the applicable ceiling, the rate of relief allowable and the percentage of the loan that qualifies for the relief. I am satisfied that Revenue are administering the relief as...