Results 26,461-26,480 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Institutions Levy (4 Apr 2017)

Michael Noonan: As I outlined in my response to the Deputy's questions on 17th January and 28th February last, in accordance with Section 126AA of the Stamp Duties Consolidation Act 1999, an annual levy was imposed on certain financial institutions for each of the years 2014, 2015 and 2016. The levy was charged at 35% of the Deposit Interest Retention Tax (DIRT) paid by a financial...

Written Answers — Department of Finance: Mortgage Arrears Rate (4 Apr 2017)

Michael Noonan: The Deputy will be aware that the Central Bank has an ongoing role in monitoring the level of arrears and negative equity on mortgage and other loan assets.  The Programme for a Partnership Government contains a range of commitments in the broad housing and banking area and my Department regularly engages with the Central Bank on all the Programme for Government Commitments which will...

Written Answers — Department of Finance: Public Interest Directors (4 Apr 2017)

Michael Noonan: In the Programme for a Partnership Government ('PPG') the Government has committed to, "Cease to appoint new Public Interest Directors to the banks, and reform the procedures for the appointment of bank directors by the State, with a view to increasing transparency in the process".  As the Deputy will be aware, the rights for the State to appoint public interest...

Written Answers — Department of Finance: Fuel Laundering (4 Apr 2017)

Michael Noonan: It is inherently difficult to estimate with confidence the extent of any illegal activity and it is not possible, therefore, to put a figure on the cost to the Exchequer of fuel laundering. Nevertheless, the serious threat that criminal activity of this kind poses to legitimate and compliant businesses, consumers and the Exchequer is recognised, and action against it has accordingly been a...

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

Michael Noonan: It is my intention to introduce a tax on sugar-sweetened drinks in April 2018, to coincide with the introduction of a similar tax in the UK at that time. The 2016 Tax Strategy papers estimated potential yields from a tax on sugar sweetened drinks based on a total soft drink sales in Ireland of 685.4 million litres per annum.  The TSG papers estimated that the tax would apply to 60% of...

Written Answers — Department of Finance: Credit Availability (4 Apr 2017)

Michael Noonan: As the Deputy may be aware, the most recent ISME Bank Watch Survey for Quarter 1 2017 noted that 23% of companies who applied for funding in the three months covering December 2016 to February 2017 were refused credit by their banks.  The figure the Deputy is referring to was reported in the survey results for Quarter 2 2016. The Deputy will also be aware that my Department conducts...

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

Michael Noonan: The European Commission published the Final Decision in the Apple State aid case in December 2016.  This was sent to Ireland at the end of August 2016.  Ireland does not accept the Commission's analysis, which is why we have lodged an application with the General Court of the European Union to annul the whole Decision.  It will likely be several years before the matter is...

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

Michael Noonan: The Programme for Government commits the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs to thoroughly investigate the German Sparkassen model for the development of local public banks that operate within well-defined regions. It also calls for the investigation of a new model of community banking that could provide a suite of banking services through the Post Office...

Written Answers — Department of Finance: European Investment Bank Loans (4 Apr 2017)

Michael Noonan: My Department in conjunction with a number of other Departments as well as ISIF and the NTMA, is examining the feasibility of establishing, in conjunction with the private sector, a Housing Investment Fund, in a way that is both off-balance sheet and is commercially viable. This vehicle should be capable of funding the delivery of substantial new mixed-tenure residential developments,...

Written Answers — Department of Finance: Credit Union Regulation (4 Apr 2017)

Michael Noonan: As previously referred to in Parliamentary Question number 208 of 28 February 2017, the Government has been exploring potential mechanisms that would facilitate investment in social housing, including the off-balance sheet potential of private institutional investment. Ireland Strategic Investment Fund (ISIF) led engagement on the Housing Fund mentioned in Rebuilding Ireland, with a...

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: Departmental Reports (4 Apr 2017)

Michael Noonan: The consultation process on "the use of intermediary-type employment structures and self-employment arrangements and their impact on tax and PRSI" invited submissions from interested parties on possible measures to address the loss to the Exchequer that may arise under two sets of arrangements: - where an individual, who would otherwise be an employee, establishes a company to provide his or...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Negotiations (4 Apr 2017)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base (CCCTB) was published in October 2016 and discussed at the November 2016 ECOFIN meeting.  During the discussion, which was held in public session, a number of my fellow Ministers gave some initial impressions of the proposal. At the December 2016 ECOFIN, Council Conclusions were approved in...

Written Answers — Department of Finance: Credit Unions (4 Apr 2017)

Michael Noonan: The Credit Union Advisory Committee (CUAC) in its Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) recommended the establishment of an Implementation Group for a specified period of time to oversee and monitor implementation of its recommendations in a methodical manner and to advise the Minister for Finance on...

Written Answers — Department of Finance: Credit Union Services (4 Apr 2017)

Michael Noonan: The Credit Union Act, 1997 (1997 Act) sets out the services that a credit union may provide to its members. In addition, the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (2016 Regulations) set out services exempt from additional services requirements. Where a credit union wishes to provide services to its members, other than those services that are provided for under the...

Written Answers — Department of Finance: Departmental Information (4 Apr 2017)

Michael Noonan: My Department provides assistance to staff and members of the public with a disability through the Disability Liaison Officer, and Access Officers as required under the Disability Act 2005. The Department has not received any requests for information to be supplied through braille between 2014-2016 from staff or members of the public. In terms of communicating with persons...

Written Answers — Department of Finance: Mortgage Resolution Processes (4 Apr 2017)

Michael Noonan: The Deputy will be aware that the Code of Conduct on Mortgage Arrears (CCMA) provides a strong consumer protection framework to ensure that borrowers in financial difficulty are treated in a timely, transparent, and fair manner by regulated entities. It applies to the mortgage loan of a borrower which is secured by his/her primary residence. It sets out how regulated entities must treat...

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

Michael Noonan: I am advised by Revenue that the CJEU in the National Roads Authorityv The Revenue Commissioners judgment decided key questions of principle in relation to the liability to VAT on tolls charged to road users by a public authority for the making available of road infrastructure (the Dublin Tunnel and the Westlink (M50) toll road), which were referred by the Appeal Commissioners. However, the...

Written Answers — Department of Finance: House Prices (4 Apr 2017)

Michael Noonan: As the Deputy will be aware, the Help to Buy incentive was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness'. This plan contains a significant volume of responses to the current housing crisis, of which the Help to Buy incentive is one. This comprehensive Action Plan takes a holistic approach in addressing the many interacting...

Written Answers — Department of Finance: Insurance Coverage (4 Apr 2017)

Michael Noonan: I am conscious of the difficulties that the absence of flood cover can cause to householders and businesses alike.  However, the provision of insurance is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and then ensuring that they have adequate provisioning to meet those risks. Insurance Ireland...