Results 26,721-26,740 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 84 to 88, inclusive, together. The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report. The first quarterly progress update in respect of the implementation of the recommendations is now available on the Department of Finance website, under the Insurance Policy...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 89 and 90 together. I propose to take PQ's 89 and 90 together which deal with Recommendation 11 (Establish a National Claims Information Database) and Recommendation 12 (Quarterly Publication of Key Aggregated Metrics, on Claims, Costs and Trends within the Market). The recommendations in the Report on the Cost of Motor Insurance are being progressed...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report.  The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of Finance’s website. This update shows the progress to date on the...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: I propose to take Questions Nos. 92 to 98, inclusive, together. The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report.  The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of...

Written Answers — Department of Finance: Motor Insurance Fraud (4 May 2017)

Michael Noonan: The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report.  The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of Finance’s website. This update shows the progress to date on the...

Written Answers — Department of Finance: Motor Insurance (4 May 2017)

Michael Noonan: The recommendations in the Report on the Cost of Motor Insurance are being progressed in accordance with the Action Plan contained in the Report. The first quarterly progress update in respect of the implementation of the recommendations is now available on the Insurance Policy section of the Department of Finance’s website. This update shows the progress to date on the...

Proposed Sale of AIB Shares: Motion [Private Members] (9 May 2017)

Michael Noonan: I move amendment No. 5:To delete all words after “Dáil Éireann” and substitute the following: “affirms its support for the Programme for a Partnership Government’s commitment to provide for a sale of our banking investments where conditions permit; recognises the sustainable increases in infrastructure spending being achieved under the Capital Plan,...

Written Answers — Department of Finance: VAT Rate Reductions (9 May 2017)

Michael Noonan: EU VAT law, with which Irish VAT law must comply, does not in general allow the application of a reduced VAT rate on construction services. However, Ireland applies the 13.5% reduced rate of VAT to construction services under a derogation from the EU VAT Directive, because Ireland applied a reduced rate to such services on 1 January 1991. The Programme for Partnership Government...

Written Answers — Department of Finance: Consumer Credit (9 May 2017)

Michael Noonan: To date, the focus of my attention in relation to personal credit has been on the mortgage market because this is the most significant in terms of its impact on the borrower and the broader economy. I, as Minister for Finance, have not conducted a detailed study of the size of the motor finance market here. In addition, I understand that neither the Central Bank nor the Competition and...

Written Answers — Department of Finance: Vehicle Registration (9 May 2017)

Michael Noonan: There are a number of objectives of the Irish Vehicle Registration Tax (VRT) system. VRT is an important source of Revenue for the State.  It also seeks to reflect the negative externalities caused by using the vehicle in the State. These externalities are the costs to society and to the environment that, without the tax, would not otherwise be reflected in the price of the vehicle...

Written Answers — Department of Finance: VAT Rate Reductions (9 May 2017)

Michael Noonan: VAT registration thresholds provide a mechanism for exempting business with a low turnover from having to register for VAT.  This reduces the administrative burden on both small businesses often at the developmental stage and on the Revenue Commissioners.  The VAT registration thresholds for small businesses are currently €37,500 in the case of a person supplying services and...

Written Answers — Department of Finance: Insurance Costs (9 May 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: Customs and Excise Protocols (9 May 2017)

Michael Noonan: The procedure for applying for relief from customs duties and VAT on transferring residence to Ireland can be found at  and the procedures relating specifically to relief from VRT are at . The information supplied on the revenue website is primarily designed for persons who are moving house, with considerable belongings being shipped rather than carried as luggage.  In most such...

Written Answers — Department of Finance: Tax Reliefs Data (9 May 2017)

Michael Noonan: I am advised by Revenue that the number of mortgage holders in receipt of tax relief at source in respect of mortgage interest for the year 2016, the latest year for which data are available, is in the order of 419,400 claimants. The provisional cost to the Exchequer in 2016 for such claimants is €184.2 million. A forecast for 2017 is not available. In my Budget speech...

Written Answers — Department of Finance: Banking Operations (9 May 2017)

Michael Noonan: I understand that the accounting rules around income recognition are covered primarily under International Accounting Standard IAS 18 which requires that the following conditions are met before income can be recognised: - it is probable that any future economic benefit associated with the item of revenue will flow to the entity, and - the amount of revenue can...

Written Answers — Department of Finance: Motor Insurance (9 May 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: Financial Services Sector (9 May 2017)

Michael Noonan: There is no agreement on its precise meaning of the term “vulture funds” and it has come to have pejorative connotations. I presume that the Deputy intends referring to private equity funds. The Deputy will be aware that international private equity funds invested much needed capital in our economy during a period of high risk and uncertainty. Central Bank data published on 16...

Written Answers — Department of Finance: Tax Reliefs Data (9 May 2017)

Michael Noonan: I propose to take Questions Nos. 156 and 157 together. I am advised by Revenue that for each of the years 2012, 2013 and in 2014 (the most recent year for which figures have been published) the table sets out the number of persons who availed of the special assignee relief programme (SARP) and the total cost of the programme. Year Claimants Total Claimed €,000 2012 11 100 2013 121...

Written Answers — Department of Finance: Insurance Costs (9 May 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: Environmental Schemes (9 May 2017)

Michael Noonan: A number of supports already exist to incentivise the purchase of hybrid and electric vehicles, such as relief from vehicle registration tax and, in the case of electric vehicles, a grants towards the cost of such vehicles.  Any new initiatives aimed at introducing policies to address emerging issues are considered as part of the annual Budget process.  This process starts with the...