Results 14,461-14,480 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Collection (20 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a Tax Credit Certificate issued to the named individual on 14/08/2013 and to his employer on 13/08/2013 for the tax year 2013. A Tax Credit Certificate issued for the tax year 2014 on the 09/12/2013 to the employer of the named individual and on the 16/12/2013 to the named individual. Based on the returns received by Revenue from the employer in...

Written Answers — Department of Finance: NAMA Portfolio (20 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 59 and 79 together. The Special Liquidators are continuing to implement the orderly and efficient wind down of IBRC in accordance with the provisions of the IBRC Act and the Ministerial Instructions. The sales processes in relation to the assets are on-going and are expected to be completed over the coming months. While I am pleased with the progress made by...

Written Answers — Department of Finance: NAMA Loan Book (20 Feb 2014)

Michael Noonan: As set out in the NAMA Section 55 Quarterly Report to 30 September 2013, the book value of NAMA's loans at that date was €20.7bn.  Details relating to the book value of NAMA loans will be set out, in line with IFRS accountancy requirements, in its annual report for 2013, which will be published in the coming months.   On December 4th, 2013, NAMA announced...

Written Answers — Department of Finance: Central Bank of Ireland (20 Feb 2014)

Michael Noonan: Under the Central Bank Act 1942, the employment of staff at the Central Bank and their terms and conditions are matters for the Central Bank Commission.  I have no role in sanctioning conditions of employment of staff in the Central Bank. Whilst the Central Bank of Ireland is empowered under the Central Bank Act 1942 to set the terms and conditions of employment of its staff, I...

Written Answers — Department of Finance: Credit Unions (20 Feb 2014)

Michael Noonan: The Registrar of Credit Unions at the Central Bank is responsible for the regulation of credit unions. With regard to the credit in question, I have been informed by the Central Bank that for reasons of confidentiality it cannot comment on individual credit unions. Credit unions are required to hold an Annual General Meeting (AGM), in accordance with...

Written Answers — Department of Finance: Departmental Contracts Data (20 Feb 2014)

Michael Noonan: The replies to the  questions cited have issued by letter from my office to the Deputy. In addition to information concerning the Department, the  questions sought information in relation to the Department's agencies and the Central Bank, which was not directly accessible by the Department. This meant that the replies were not available immediately.

Written Answers — Department of Finance: Mortgage Loan Books Issues (20 Feb 2014)

Michael Noonan: I understand that a number of the unregulated purchasers of mortgage loan books are abiding by the Central Bank's Code of Conduct on Mortgage Arrears on a voluntary basis. The application of the protections provided to mortgage holders under the Central Bank's Code to loan books which have been sold by regulated financial institutions to unregulated financial...

Written Answers — Department of Finance: Mortgage Arrears Proposals (20 Feb 2014)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) places an onus on the banks in respect of a co-operating borrower, to explore all the options for offering an alternative repayment arrangement to address a mortgage difficulty and provides a strong consumer protection framework to ensure that those borrowers in difficulty with their mortgage repayments are treated in a fair and...

Written Answers — Department of Finance: Fiscal Policy (20 Feb 2014)

Michael Noonan: While the Government remains committed to achieving the target deficit of less than 3% of GDP by 2015, Government policy on any such measures deemed necessary will be finalised closer to Budget 2015, when the most up to date economic and fiscal information is available.  Any measures announced will continue to be implemented in as fair and equitable way as possible while fostering...

Written Answers — Department of Finance: Economic Growth (20 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 67 and 69 together. Signs of economic recovery are increasingly evident.  In the third quarter of last year, GDP increased by 1.5 per cent; while fourth quarter figures are not yet available, high frequency data are reasonably encouraging. The resumption of economic growth reflects the improvement in our competitiveness that we have seen in recent...

Written Answers — Department of Finance: Fiscal Policy (20 Feb 2014)

Michael Noonan: The primary role of the National Treasury Management Agency is to ensure that sufficient funding is available at all times to meet the day-to-day requirements of the Exchequer. It is a matter for the Agency to decide when and how much to borrow in the light of those needs, commercial considerations surrounding the raising of debt on the markets and the need to maintain an appropriate level of...

Written Answers — Department of Finance: Economic Data (20 Feb 2014)

Michael Noonan: Annual data on gross domestic product (GDP) per capita across the EU are available from Eurostat. These figures show that in 2012, Ireland's GDP per capita adjusted for Purchasing Power Standards was €33,200, the fifth highest in Europe and third highest in the euro area, behind only Luxembourg and Austria. The level in Ireland compares to an average of €25,500...

Written Answers — Department of Finance: Banking Sector Regulation (20 Feb 2014)

Michael Noonan: The withdrawal of banking institutions from the Irish market must be considered against a backdrop of a comprehensive programme of bank recapitalisation and restructuring that has been underway to change the future banking landscape in Ireland and abroad. While it is disappointing that ACC and Danske Bank have taken this decision, it is noted that one of the key features of...

Written Answers — Department of Finance: Credit Availability (20 Feb 2014)

Michael Noonan: As the Deputy is aware, as part of the 2011 recapitalisation exercise, the Government imposed SME lending targets on AIB and Bank of Ireland for the three calendar years, 2011 to 2013. Each bank was required to sanction lending of at least €3 billion in 2011, €3.5 billion last year and €4 billion in 2013 for new or increased credit facilities to SMEs. Both banks have...

Written Answers — Department of Finance: Household Savings Rate (20 Feb 2014)

Michael Noonan: Data relating to personal (or household) savings are compiled and published by the Central Statistics Office.  Household savings is defined as that part of household disposable income which is not used to purchase goods and services.  The savings rate is the level of savings expressed as a percentage of household disposable income. The profile for the quarterly savings rate...

Written Answers — Department of Finance: Bank Charges (20 Feb 2014)

Michael Noonan: As the Deputy is aware bank fees, charges  and commissions are subject to regulation under Section 149 of the Consumer Credit Act 1995, as amended. Section 149 came into effect in 1996 and currently requires that credit institutions, prescribed credit institutions and bureaux de change must make an  application to the Central Bank if they wish to introduce a new...

Written Answers — Department of Finance: Credit Ratings (20 Feb 2014)

Michael Noonan: The Government recognises that SMEs are the lifeblood of the economy and will play a vital role in the recovery of employment growth in our country. It also recognises that businesses with legacy debts may be viable. One of the key priorities of the Programme for Government is to ensure that an adequate pool of credit is available to fund SMEs in the real economy during the restructuring and...

Written Answers — Department of Finance: Property Taxation Collection (20 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 76 and 77 together. I am informed by the Revenue Commissioners that as the Local Property Tax (LPT) was only introduced with effect from 1 July 2013 compliance data in relation to LPT is only available for 2013 onwards. The most up to date figures for LPT collected relating to properties in Cork City and County Councils were published on 18 February 2014 on...

Written Answers — Department of Finance: Universal Health Insurance White Paper (20 Feb 2014)

Michael Noonan: Officials from my Department have had discussions with officials from the Department of Health regarding the draft Universal Health Insurance White Paper.  It is not unusual for discussions to take place at official level before coming to the political level and these discussions are on-going.    In addition, I should point out that decisions regarding tax matters are taken...

Written Answers — Department of Finance: State Banking Sector (20 Feb 2014)

Michael Noonan: In answer to a previous Parliamentary Question, I stated that I had given instructions that the proceeds from the sale of Bank of Ireland preference shares in December 2013 should remain with the National Pension Reserve Fund for the time being and that further consideration would be given as to how best to utilise the proceeds having regard to the NTMA's debt management plan and...