Results 26,921-26,940 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Company Liquidations (23 May 2017)

Michael Noonan: Enterprise Insurance Company plc (Enterprise) is a Gibraltar incorporated company and, therefore, the Enterprise liquidation is being carried out under the laws of Gibraltar.  The situation around the Enterprise liquidation is an evolving one.  The position as it currently stands is as set out below. A Provisional Liquidator was appointed to Enterprise on 25 July...

Written Answers — Department of Finance: Tax Data (23 May 2017)

Michael Noonan: I am advised by Revenue Commissioners that, at end 2016, there were around 2,375,600 live PAYE employees on Revenue records. This includes cases earning but not in the tax net. It should be noted that PAYE employments on Revenue records also include retired persons in receipt of private or occupational pensions. Comparison between Revenue and CSO figures are not straightforward for a number...

Written Answers — Department of Finance: Fiscal Data (23 May 2017)

Michael Noonan: At a national level, the Central Statistics Office is responsible under EU regulation for ensuring that all units within the economy are classified according to the rules set out under the European System of Accounts 2010 (ESA 2010). Eurostat is the ultimate arbiter on classification decisions under ESA 2010. Classifications are determined on a case by case basis and a great deal of...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (23 May 2017)

Michael Noonan: The “Help to Buy” scheme is provided for in section 477C of the Taxes Consolidation Act 1997. The section provides that, in order to qualify for the scheme a first-time purchaser must be “an individual who, at the time of a claim - has not, either individually or jointly with any other person, previously purchased or previously built, directly or indirectly, on his or her...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (24 May 2017)

Michael Noonan: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to householders and businesses alike, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years in order to minimise the risk of flooding. However, the provision of insurance cover and the price at which it is offered is...

Written Answers — Department of Finance: Property Tax Data (24 May 2017)

Michael Noonan: I am advised by Revenue that the most recently available information relating to Local Property Tax (LPT) can be found on the statistics webpage of the Revenue website at , including LPT collected in respect of County Kildare. This includes LPT collected for the years 2013 to 2016 and the first quarter of 2017.

Written Answers — Department of Finance: Motor Insurance Coverage (24 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 position is...

Written Answers — Department of Finance: Motor Insurance (24 May 2017)

Michael Noonan: In fulfilment of Recommendation 9 in the Action Plan of the Report on the Cost of Motor Insurance, Insurance Ireland set up the consumer and business forum in March and invited relevant stakeholders to the first of its biannual meetings.  This meeting, which was opened by the Minister of State, Eoghan Murphy T.D., took place on May 16 and was attended by representatives from: ...

Written Answers — Department of Finance: Financial Services Ombudsman (24 May 2017)

Michael Noonan: I understand from the Financial Services Ombudsman (FSO) that if a Receiver is appointed by the lender, either before a complaint is made to the FSO, or after the FSO has begun dealing with the matter, the appointment of the Receiver will not impede the mediation, investigation or adjudication of the complaint by the FSO. In that event, the FSO will investigate whether the mortgage deed...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (24 May 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...

Written Answers — Department of Finance: Banking Operations (24 May 2017)

Michael Noonan: As the Deputy is aware, I have no role in the day-to-day management or financial reporting of any bank in which the State is a shareholder. The financial reporting obligations, accounting practices and publication of financial results are matters solely for the Board and Management of each institution. AIB produces detailed, externally audited accounts in line with international...

Pension Fund (Prohibition of Levies) Bill 2016: Second Stage [Private Members] (25 May 2017)

Michael Noonan: What is the date of the press release?

Pension Fund (Prohibition of Levies) Bill 2016: Second Stage [Private Members] (25 May 2017)

Michael Noonan: The Minister for Finance at that time was my predecessor, the late Brian Lenihan.

Pension Fund (Prohibition of Levies) Bill 2016: Second Stage [Private Members] (25 May 2017)

Michael Noonan: I am pleased to speak to the Bill presented by Deputy O'Dea, which seeks to prohibit any future legislation that would impose a levy, or similar charge, on pension funds. Specifically, the Bill proposes that, "No legislation, Statutory Instrument, or Ministerial Directive shall be proposed or accepted which would allow the Stamp Duties Consolidation Act 1999, the Taxes Consolidation Act 1997,...

Pension Fund (Prohibition of Levies) Bill 2016: Second Stage [Private Members] (25 May 2017)

Michael Noonan: Deputy O'Dea has expressed concern about pensions and their sustainability. He has published a separate Private Member's Bill in regard to defined benefit schemes. The Minister for Social Protection, Deputy Varadkar, is conscious of the need for reforms in the area of defined benefit pensions schemes and in that regard he has published the general scheme of the Social Welfare and Pensions...

Written Answers — Department of Finance: Help-To-Buy Scheme Assessment (25 May 2017)

Michael Noonan: I assume the Deputy is referring to the Help to Buy (HTB) incentive, which assists with funding the deposit required to purchase or self-build a new home to be used as the individuals principal private residence. The scheme is open to both those who are purchasing new builds from a developer, and those who self-build. By restricting it to new builds and new self-build...

Written Answers — Department of Finance: Tax Rebates (25 May 2017)

Michael Noonan: Employees may claim a tax deduction in respect of (a) the cost of travelling expenses necessarily incurred in the performance of the duties of their employment or office; and (b) the cost of other expenses incurred wholly, exclusively and necessarily in the performance of the duties of their employment. However, these deductions do not ordinarily include the cost of travelling to and...

Written Answers — Department of Finance: State Banking Sector (25 May 2017)

Michael Noonan: The Program for a Partnership Government allows for the sale of not more than 25% of any bank before the end of 2018 (plus any over-allotment option). I have not yet made any decision to proceed with a sale of shares in AIB.  In order to proceed with an IPO I would need to be satisfied that the market is prepared to put a fair and reasonable value on the bank's equity,...

Written Answers — Department of Finance: State Banking Sector (25 May 2017)

Michael Noonan: I have not yet made any decision to proceed with a sale of shares in AIB. I have consistently stated that any decision to proceed with an IPO of the bank will be based on advice from my officials and advisers, and depend on favourable market conditions which would support our objective of achieving an attractive valuation for the business. As we are well into May at this...

Written Answers — Department of Finance: State Aid (25 May 2017)

Michael Noonan: I propose to take Questions Nos. 78 to 80, inclusive, and 87 to 89, inclusive, together. Notwithstanding the appeal in the Apple State Aid case and the difference in view between Ireland and the Commission on the issue, the Government is committed to complying with the binding legal obligations the Commission’s Final Decision places on Ireland. Apple therefore must be deprived of the...