Results 26,481-26,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Fiscal Policy (4 Apr 2017)

Michael Noonan: As the Deputy is aware, discretionary revenue measures increase or decrease fiscal space depending on whether they raise or lower tax revenue. Where tax expenditures are due to end, fiscal space in the following year will increase. Similarly, fiscal space will decrease if a revenue raising measure ends. The key point of contact with the European Commission on these matters is the draft...

Written Answers — Department of Finance: Mortgage Interest Relief Data (4 Apr 2017)

Michael Noonan: I am advised by the Revenue Commissioners that any estimates related to the cost of mortgage interest relief (MIR) beyond 2017 must be very tentative because they depend on a number of factors including the extent of mortgage redemption, mortgage interest arrears and mortgage interest rates.  Bearing in mind such caveats and on the basis of retaining the same rates of relief,...

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

Michael Noonan: I am advised by Revenue that one of Revenue's objectives in providing an efficient and cost effective service to taxpayers is to establish the use of electronic channels as the normal way of conducting business with them. Revenue on-line service (ROS) is a quick and secure facility for taxpayers to pay tax liabilities, file tax returns, access tax details and claim repayments. The ROS...

Written Answers — Department of Finance: Tender Process (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 206 and 207 together. In December 2016, following a competitive procurement process, I announced that three firms were appointed to act as joint global co-ordinators to lead a selling syndicate in preparation for a possible AIB IPO. On the 23rd of March this year I further announced the addition of five joint bookrunners and a co-lead...

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

Michael Noonan: I would like to refer the Deputy to Parliamentary Question No. 126 of 21 February 2017 which also address these questions.  Currently NAMA expects to redeem 100% of its guaranteed senior debt by the end of 2017 and expects to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and...

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

Michael Noonan: I am advised by Revenue that Income Tax statistics are available on the Revenue Statistics webpage located at www.revenue.ie/en/about/statistics/income-tax.html.These tables show for 2014 (the latest year for which data are presently available) the number, the total gross income and tax paid across exempt, standard and higher rate income tax bands as requested by the Deputy. The tables...

Written Answers — Department of Finance: Mortgage Interest Rates (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 210 and 220 together. There are a number of factors, such as differences in national legal and housing systems, cultural preferences, the proximity of lenders to borrowers, which will impact on the levels of interest rates in different countries. More directly, credit and market conditions, mortgage default rates and the funding of mortgage credit will...

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

Michael Noonan: I propose to take Questions Nos. 211 and 212 together. The Government has not ruled out introducing a Community/Public Banking model. 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...

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

Michael Noonan: I would not agree that the commercial banks enjoy a monopoly on what I understand you refer to as "credit creation". One of the roles of credit unions for example is the creation of sources of credit for the mutual benefit of its members at a fair and reasonable rate of interest. Within the Credit Union sector, total lending has contracted since 2011 with total sector loans (before...

Written Answers — Department of Finance: Betting Regulations (4 Apr 2017)

Michael Noonan: I am informed by Revenue that the 2016 receipts from Traditional Betting (instore), Remote Betting (online) and Betting Intermediary Duty on Commissions are as follows. Traditional Betting Remote Betting Betting Intermediary Commissions Total €m €m €m €m 2016 (Prov.) 28.1 20.7 1.9 50.7 It should be noted that these receipts are provisional in nature and...

Written Answers — Department of Finance: Tender Process (4 Apr 2017)

Michael Noonan: In December 2016, I announced that three firms were appointed to act as joint global co-ordinators to lead a selling syndicate in preparation for a possible AIB IPO. On the 23rd of March this year I further announced the addition of five joint bookrunners and a co-lead manager to the syndicate. These syndicate banks have been appointed until July 2018. The syndicate was appointed following...

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

Michael Noonan: The financial settlement between the EU and the UK will be part of the Article 50 negotiations. As a member of the EU 27, Ireland stands ready to engage in fair and constructive engagements on this issue. It would not be helpful to speculate on any amounts at this point.

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

Michael Noonan: In addition to the challenges posed to Ireland by the withdrawal of the UK from the EU, the Government recognises that there will also be opportunities for Ireland arising from Brexit. The Government is keen to maximise those opportunities where possible. In that regard, international financial services (IFS) has been identified as an area of potential opportunity arising from Brexit in...

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

Michael Noonan: I propose to take Questions Nos. 218, 222 and 223 together. I am informed by the Central Bank that within the remit of it's responsibilities for safeguarding stability and protecting consumers, its approach to mortgage arrears resolution is focussed on ensuring the fair treatment of borrowers and ensuring that lenders have appropriate arrears resolution strategies and operations in place....

Written Answers — Department of Finance: Economic Competitiveness (4 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 219 and 225 together. In general, recent indicators have been very positive, indicating that the economic recovery is continuing at a robust pace. The preliminary estimate for full-year GDP growth in 2016 is 5.2 per cent based on National Accounts data for the fourth quarter of the year. Importantly, domestic demand made a strong positive...

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

Michael Noonan: While housing policy is primarily the responsibility of the Minister for Housing, Planning, Community and Local Government, my Department continues to monitor developments in the wider property market, including trends in house prices, on an ongoing basis as these issues can have spillover effects to the rest of the economy.  As part of the Rebuilding Ireland,...

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

Michael Noonan: This Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit facilities from a diverse range of bank and non-bank sources. In line with Action 62 of the APJ 2017, officials from my...

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

Michael Noonan: Although the Minister for Housing, Planning, Community and Local Government has overall responsibility for housing policy, my Department monitors developments in this area as clearly there are potential spillover effects to the rest of the economy. The recovery in the economy and the pick-up in employment over the last number of years has led to strong growth in the demand for...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (4 Apr 2017)

Michael Noonan: Government policy remains 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. In line with Action 62 of the APJ 2017,...

Written Answers — Department of Finance: Disabled Drivers Grant Eligibility (4 Apr 2017)

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...