Results 27,001-27,019 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Stability and Growth Pact (1 Jun 2017)

Michael Noonan: The fiscal rules - formally known as the Stability and Growth Pact (SGP) - have direct application through a number of EU regulations and domestically via the Fiscal Responsibility Act. Changes to these regulations would have to follow the normal EU approach starting with a proposal from the Commission before consideration by Member States and the European Parliament. However, there...

Written Answers — Department of Finance: Insurance Data (1 Jun 2017)

Michael Noonan: It is not possible to provide the details sought by the Deputy.  The Central Statistics Office does not produce statistics on the price or price variance of whole-of-life insurance.  Similarly, the Central Bank of Ireland does not collate any industry statistics on whole-of-life policies specifically, and neither does it collect any data in relation to average premium and average...

Written Answers — Department of Finance: Banking Licence Applications (1 Jun 2017)

Michael Noonan: The Central Bank (or where appropriate the ECB) has responsibility for the authorisation of regulated financial service providers in Ireland.  However, the Central Bank has advised that, due to confidentiality reasons, it does not comment on applications for authorisation. A full list of authorised firms is available on the Central Bank's website at .

Written Answers — Department of Finance: Banking Sector Data (1 Jun 2017)

Michael Noonan: I have been informed by the Central Bank that it does not routinely publish specific data on entities who are not regulated by the Central Bank and it is therefore not possible to provide the number and value requested by the Deputy. I would however refer the Deputy to the Report on Mortgage Arrears which the Central Bank provided to the Minister for Finance in June 2016() which provides...

Written Answers — Department of Finance: Revenue Commissioners Reports (1 Jun 2017)

Michael Noonan: I am informed by Revenue that it is their policy that all opinions issued to taxpayers, including multinational companies and other taxpayers, have a maximum validity period of 5 years.  Giving effect to this policy, Revenue published guidance in January of this year (eBrief No. 8 of 2017) confirming that any opinion issued more than 5 years ago, and on which a taxpayer wishes to...

Written Answers — Department of Finance: Central Bank of Ireland Staff (1 Jun 2017)

Michael Noonan: I am informed by the Central Bank that the Central Bank Commission has approved a staffing level of 1,801 FTEs for 2017. This is split across the three Pillars of Financial Regulation, Central Banking, and Operations (including FTEs for the Bank wide graduate programme).  The Central Bank has provided the table below which outlines the level of actual FTEs versus approved FTEs...

Written Answers — Department of Finance: IBRC Liquidation (1 Jun 2017)

Michael Noonan: As set out in the most recent progress update of 5 May 2017 (which is available on the Department of Finance website ), the Special Liquidators have cash receipts of €1.9bn on hand as at 6 February 2017. In December 2016, the Special Liquidators commenced the payment of an interim dividend of 25% to all admitted unsecured creditors of the liquidation, including the State who is...

Written Answers — Department of Finance: Insurance Costs (1 Jun 2017)

Michael Noonan: The Cost of Insurance Working Group is now in its second phase and is examining issues around the cost of insurance for businesses, specifically Employer Liability (EL) Insurance and Public Liability (PL) Insurance.  It is envisaged that the final results of this second phase will take the form of an addendum to the existing Report.  As with the first phase, the aim is for all...

Written Answers — Department of Finance: Insurance Industry (1 Jun 2017)

Michael Noonan: I propose to take Questions Nos. 80 to 82, inclusive, together. The Supreme Court in delivering its judgment on 25 May 2017 overturned the previous decisions of the High Court and the Court of Appeal that the Motor Insurers’ Bureau of Ireland (MIBI) is liable in respect of third party motor insurance claims made against the policyholders of Setanta Insurance.  The consequence...

Written Answers — Department of Finance: Revenue Commissioners Data (1 Jun 2017)

Michael Noonan: I propose to take Questions Nos. 83 and 84 together. The following table sets out the number of End of Year Statements (P21s) for PAYE taxpayers that have issued, to date, for the years 2012 to 2016: Year Total Issued 2012 1,071,941 2013 1,115,476 2014 1,000,670 2015 838,588 2016 422,578 In the time available I am advised by Revenue that it was not possible to compile the same...

Written Answers — Department of Finance: Economic Statements (1 Jun 2017)

Michael Noonan: The Summer Economic Statement (SES) is a key element of the reformed budgetary process which complements the Stability Programme Update. While the macroeconomic outlook will be as set out in the Stability Programme Update, the SES will provide an updated assessment of the fiscal space available for 2018. It will also outline the key elements of the Government’s economic strategy. ...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (1 Jun 2017)

Michael Noonan: As the Deputy will be aware, there are two stages involved in the Help to Buy process. Stage 1 is the Application Stage, wherein prospective applicants can query whether they qualify for the incentive. They can also get clarity on the maximum amount of rebate they could potentially benefit from, based on their tax paid in a four-year period. Stage 2 is the Claims Stage,...

Written Answers — Department of Finance: Tax Yield (1 Jun 2017)

Michael Noonan: In the 2016 Finance Act I introduced provisions to address concerns raised in both the media and the Dáil regarding the use of section 110 companies and certain Irish collective investment vehicles by international investors to minimise their tax payments on Irish property transactions. In relation to Section 110 companies the amendments made in Finance Act 2016 will ensure that tax...

Written Answers — Department of Finance: Tracker Mortgages Examination (1 Jun 2017)

Michael Noonan: I am informed by the Central Bank that business loans provided to businesses are not in the scope of the Central Bank’s ongoing tracker examination. However some business loans which are connected to Private Dwelling Homes and Buy to Lets may come within scope due to the connection. The Tracker Mortgage Examination requires lenders, which offered tracker interest rate...

Written Answers — Department of Finance: Insurance Industry (1 Jun 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...

Written Answers — Department of Finance: Mortgage Data (1 Jun 2017)

Michael Noonan: The Mortgage Arrears and Repossessions data published by the Central Bank indicates that over €3 billion of loan balances were classified as “Split Mortgage” restructures at end Q4 2016, based on PDH and BTL portfolios across all entities (including banks, retail credit firms and unregulated loan owners). The Central Bank does not publish information on the...

Written Answers — Department of Finance: Financial Services Regulation (1 Jun 2017)

Michael Noonan: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. The CCPC is responsible under the Consumer Credit Act 1995, for the authorisation of credit intermediaries, some of whom may...

Written Answers — Department of Finance: Vehicle Registration (1 Jun 2017)

Michael Noonan: The relief from Vehicle Registration Tax when transferring residence is provided for in the Finance Act 1992, section 134 and Statutory Instrument No. 59 of 1993 Vehicle Registration Tax (Permanent Reliefs) Regulations, 1993.  Regulation 4(5)(a) of that S.I. provides that the relief will not be granted where the vehicle is brought into the State more than twelve months after the...

Written Answers — Department of Education and Skills: Pension Provisions (30 Jan 2018)

Michael Noonan: 261. To ask the Minister for Education and Skills if a person (details supplied) is eligible to purchase additional pensionable years; if so, the conditions or options for such purchase; if they purchase the additional years the estimated additional and pension entitlement of the pension if they retire at the end of 2018 or if they continue to work until their compulsory retirement date; and...