Results 14,581-14,600 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Availability (27 Feb 2014)

Michael Noonan: I am advised by Revenue that according to its calculations, approximately 577,000 policy holders, covering 1.1 million insured individuals, are likely to be affected by the restriction of tax relief on medical insurance, which was announced as part of Budget 2014. This figure equates to almost 53% of all policies. Revenue's calculations in this regard are based on its analysis of the...

Written Answers — Department of Finance: Cycle to Work Scheme Administration (27 Feb 2014)

Michael Noonan: I have no plans to amend the Cycle To Work Scheme in the manner suggested by the Deputy. Bicycles are normally covered as part of a general household insurance policy or some people may opt to have specific cover for it. If an insurance policy pays out for a bicycle then the stolen one may be replaced but the tax break may only be availed of once in a 5-year period.

Written Answers — Department of Finance: Tobacco Smuggling (27 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that combating the illegal tobacco trade is, and will continue to be, a high priority for them. Their work against this illegal activity includes a range of measures designed to identify and target those who are engaged in the supply or sale of illicit products, with a view to seizing the illicit products and prosecuting those responsible. This...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 74 to 76, inclusive, together. As the information requested by the Deputy is forward looking, I am not in a position to provide this given its commercial sensitivity. However the Deputy may be aware that both Bank of Ireland and Allied Irish Banks are due to announce their 2013 annual results next week while permanent tsb is scheduled to...

Written Answers — Department of Finance: Housing Issues (27 Feb 2014)

Michael Noonan: My Department continues to monitor developments in the housing market. As set out in the Medium-Term Economic Strategy, the Government will continue to work on addressing remaining challenges in the property and construction sectors. This will include developing an overall strategic approach to housing supply, identifying and implementing further improvements in the planning process to...

Written Answers — Department of Finance: Banking Sector Issues (27 Feb 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters. As commercial organisations both banks must manage their costs in a way that is reflective of their commercial activities. To that end both banks have...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael Noonan: As the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in State supported banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses in any form is not permitted. I can also confirm for the Deputy that no policy changes are...

Written Answers — Department of Finance: Credit Ratings (27 Feb 2014)

Michael Noonan: Ireland's current  rating by the Rating Agencies is summarised in the table. Credit Rating Agency Long-Term rating, Outlook Grade Last action and date Moody's Baa3, Positive Investment One notch upgrade into investment grade and positive outlook 17 Jan 2014 Standard and Poor's BBB+, Positive Investment Positive Outlook 12 July 2013 Fitch Ratings BBB+, Stable...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (27 Feb 2014)

Michael Noonan: I am aware of the concerns of borrowers about the sale of the mortgage book as part of the liquidation of IBRC and in particular the concerns in relation to the Code of Conduct on Mortgage Arrears.  I have been advised by the Special Liquidators that the third party bidders who are bidding on the residential mortgage portfolios have confirmed that they will be directing...

Written Answers — Department of Finance: Mortgage Arrears Proposals (27 Feb 2014)

Michael Noonan: I wish to advise the Deputy that Bank of Ireland and AIB will announce their annual results for 2013 on the 3rd March and 5th March respectively. I have been informed by both banks that further detail in relation to their progress in dealing with mortgage arrears including the use of split mortgages will be contained in these financial statements.

Written Answers — Department of Finance: Mortgage Data (27 Feb 2014)

Michael Noonan: There is an obligation on the Special Liquidators to ensure that maximum value is extracted from the loan sales process for the benefit of all the creditors of IBRC including the State. The sales process plan and timeline for the sale of the residential mortgage portfolio has been developed following professional advice and in light of requirements for a robust and credible sales process in...

Written Answers — Department of Finance: NAMA Operations (27 Feb 2014)

Michael Noonan: As I outlined in Question No. 46 on the 22nd of January 2014, Section 227 of the NAMA Act 2009 requires me to complete a review of NAMA every 5 years. The purpose of the review is to assess the extent to which NAMA has made progress toward achieving its overall objectives, and decide whether continuation of NAMA is necessary having regard to the purposes of the Act. As part of this...

Leaders' Questions (4 Mar 2014)

Michael Noonan: I never said that.

Written Answers — Department of Finance: Tribunals of Inquiry Recommendations (4 Mar 2014)

Michael Noonan: In response to the Deputy's question the Moriarty Tribunal pointed out problems to be addressed in our system of financial regulation.  Poor supervision, an overly-deferential attitude by regulators, poor assessment of risks and a lack of follow-through on enforcement, all played a part in the financial crisis.  This Government has undertaken a number of significant reforms...

Written Answers — Department of Finance: Tax Code (4 Mar 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that a tax credit certificate issued to the person concerned on the 8th January 2014.  This certificate was based on the information available to Revenue at that time.   Taking into account the additional information received on the income and circumstances of the person concerned and his spouse, the Revenue Commissioners can...

Written Answers — Department of Finance: Universal Social Charge Exemptions (4 Mar 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a medical card does not in itself exempt a taxpayer from USC although it may reduce the applicable rate.  The taxpayer is exempt from USC only if her gross income for the tax year 2014 is less than €10,036. Income for this purpose does not include payments from Dept. of Social Protection, and it appears from the information supplied...

Written Answers — Department of Finance: Universal Social Charge Application (4 Mar 2014)

Michael Noonan: The Universal Social Charge (USC) was introduced in Budget 2011 to replace the Income Levy and the Health Levy. It was a necessary measure to widen the tax base, remove poverty traps and raise revenue to reduce the budget deficit. It is a more sustainable charge than those it replaced.  It is applied at a low rate on a wide base.  The revenues collected play a vital part in...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (4 Mar 2014)

Michael Noonan: I am aware of the concerns of some borrowers about sale of the mortgage books to funds that are not covered by the Code of Conduct on Mortgage Arrears, or CCMA.  I have instructed my Department to examine the issue, in consultation with the Central Bank, with a view to bringing forward a solution, if required. Given this is a complex legal issue, it requires careful consideration so as...

Written Answers — Department of Finance: Property Taxation Collection (4 Mar 2014)

Michael Noonan: I am advised by Revenue that it does not charge any additional costs where a liable person opts to pay Local Property Tax (LPT) through phased payment arrangements (instalments). Phased payments by deduction at source from salary, occupational pension or certain Government payments are entirely free of charge.  However, certain LPT payment options including, credit card, direct debit...

Written Answers — Department of Finance: Property Taxation Collection (4 Mar 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally. The most up to date figures for 2013 and 2014, which were published on 18 February 2014, are available on the Commissioners website at: .   While the 2014 forecasted yield for LPT nationally is €550...