Results 26,561-26,580 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Union Services (12 Apr 2017)

Michael Noonan: I am pleased that the credit union sector is considering various proposals to increase its income and develop its business model. My Department has received a number of such proposals from both the Irish League of Credit Unions (ILCU) and from the Credit Union Development Association (CUDA). Proposals from both representative bodies, in relation to the funding of social...

Written Answers — Department of Finance: Departmental Meetings (12 Apr 2017)

Michael Noonan: As part of the budgetary process in 2015 and 2016, a National Economic Dialogue was held, jointly hosted by the Departments of Finance, and Public Expenditure and Reform. A Government decision on whether to hold a National Economic Dialogue this year has not yet been taken but will be considered as part of the ongoing budgetary process for 2017. 

Written Answers — Department of Finance: Departmental Reports (12 Apr 2017)

Michael Noonan: In my 2017 Budget speech, I announced my intention to introduce a tax on sugar-sweetened drinks. At that time I also announced a public consultation process and invited interested parties to make submissions in relation to the form and practical implementation of the tax on sugar-sweetened drinks. The contents of all of the submissions received in response...

Written Answers — Department of Finance: VAT Registration (12 Apr 2017)

Michael Noonan: The issue in the matter mentioned concerns a VAT registered partnership's desire to deduct VAT on goods acquired by an individual partner rather than by the partnership. I am advised by the Revenue Commissioners that the general rule for deduction of VAT incurred is such that VAT may only be deducted by the accountable person who acquired the goods. Support for such deduction in the form of...

Written Answers — Department of Finance: Motor Insurance (12 Apr 2017)

Michael Noonan: The Cost of Insurance Working Group, chaired by Minister of State Eoghan Murphy T.D., finalised its Report on the Cost of Motor Insurance in December 2016 and it was published on 10 January 2017. The Report makes 33 recommendations with 71 associated actions to be carried out in agreed timeframes, set out in an action plan within the Report. The Report including the Action Plan is available...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (12 Apr 2017)

Michael Noonan: I am conscious of the difficulties that the absence of flood cover can cause to householders. 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. Consequently, neither the Government nor the Central Bank...

Written Answers — Department of Finance: VAT Rate Application (12 Apr 2017)

Michael Noonan: The VAT rating of goods and services is subject to the requirements of EU VAT law with which Irish VAT law must comply. It is not possible to charge VAT on education fees as this is contrary to EU VAT law. Article 132(1)(i) of the EU VAT Directive provides that: " 1.Member States shall exempt the following transactions: (i) the provision of children's or young people's education, school or...

Written Answers — Department of Finance: NAMA Operations (13 Apr 2017)

Michael Noonan: NAMA's commercial funding activities with respect to housing delivery are referenced in the Infrastructure and Capital Investment Plan (2016-2021) under "Non Exchequer Investment".  In other words, such funding has not been provided under the Capital Plan nor through direct Exchequer expenditure. Rather, it is provided by NAMA in line with its commercial mandate under Section 10 of the...

Written Answers — Department of Finance: Connectivity Fund (13 Apr 2017)

Michael Noonan: I would refer the Deputy to my response to his question, which I answered on Thursday 6 April last, where I set out how the Ireland Strategic Investment Fund (ISIF), which manages the Connectivity Fund, seeks to support the objectives of the Capital Plan. The Capital Plan itself is a matter for my colleague the Minister for Public Expenditure and the other Government Departments...

Written Answers — Department of Finance: Fuel Rebate Scheme (13 Apr 2017)

Michael Noonan: In Ireland, diesel used for certain social or commercial reasons can attract a lower rate of tax.  This lower rate of tax could be considered a subsidy.  Currently, subsidies are limited to Marked Gas Oil, a Disabled Drivers and Passengers Fuel Grant and the Fuel Rebate Scheme.  A differential in the rate of excise applied to petrol and that...

Written Answers — Department of Finance: Primary Medical Certificates Data (13 Apr 2017)

Michael Noonan: I understand from the question that the Deputy is looking for the cost of the Disabled Drivers and Passengers (Tax Concessions) Scheme, which is available to holders of a Primary Medical Certificate, broken down on a county by county basis, for 2015, 2016 and to date in 2017.  Unfortunately, statistics are not available on this basis, however, the total costs of the scheme for 2015...

Written Answers — Department of Finance: Ministerial Travel (13 Apr 2017)

Michael Noonan: I travelled to Malaysia and Singapore as part of the Government's programme of overseas visits for St Patrick's Day.  My trip consisted of a three night visit to Kuala Lumpur, Malaysia (13-16 March) and a three night visit to Singapore (1619 March). The full cost of the trip is currently being finalised by my Department as final invoices for some aspects of the trip have yet...

Written Answers — Department of Finance: Tax Credits (13 Apr 2017)

Michael Noonan: I am advised by Revenue that a widow's pension is taxable income. In the case of the person concerned, I am advised that the taxable income taken into account by Revenue has included the widow's pension payment since she was first in receipt of the payment in 2008 and there has been no change in that position. If the person concerned requires any further clarification on any aspect of her...

Written Answers — Department of Finance: Motor Insurance Coverage (13 Apr 2017)

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 accept.  This...

Written Answers — Department of Finance: Bank Charges (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 74 and 75 together. In Budget 2016, I introduced measures to support retailers by reducing costs and incentivising electronic payments. I also announced an increase in the limit on contactless payments from €15 to €30 and reformed stamp duty to remove it from debit cards; replacing it with a 12c charge per ATM transaction though with a cap to...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (13 Apr 2017)

Michael Noonan: The Help to Buy incentive aims to both assist those first-time buyers struggling to save for the deposit required to purchase a home, as well as incentivising additional building and the provision of extra housing stock. At Budget time, my officials estimated that the Help to Buy incentive would cost €40 million per annum but €50 million in...

Written Answers — Department of Finance: Banking Sector Remuneration (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 77 to 80, inclusive, together. As the Deputy is aware, Bank of Ireland is an independent listed company on the Irish and London Stock Exchanges and must abide by stock exchange rules and best practice in relation to the dissemination of price sensitive information. In the bank's recent Stock Exchange announcement the current Group CEO confirmed his intention...

Written Answers — Department of Finance: Tax Collection Forecasts (13 Apr 2017)

Michael Noonan: I assume that the Deputy is referring to the income tax yield in the first quarter of 2017.The income tax performance in 2016 was solid with receipts of €19,169 million recorded, finishing the year 0.9 per cent or €174 million above target.This represented a strong year-on-year increase of 4.4 per cent or €810 million.  In relation to the first quarter of 2017, the...

Written Answers — Department of Finance: NAMA Property Sales (13 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 82 and 83 together. The Deputy will be aware that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that, under Section 10 of the Act, its primary objective is to obtain the best achievable financial return for the State from its acquired loan portfolio. The NAMA Board exercises its judgement as to how best...

Written Answers — Department of Finance: Bank Branch Closures (13 Apr 2017)

Michael Noonan: I should stress at the outset that the Irish Government has no formal role in the commercial decisions of the banks as to their future business model and whether or not they will close particular branches. This is a matter for the Board and Management of the bank itself. That said, I expect that any bank closing branches will do everything that it can to mitigate the...