Results 14,621-14,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Debtor Agreements (4 Mar 2014)

Michael Noonan: I am advised by NAMA that it does not pay a salary to any debtor. NAMA seeks to ensure that income generated by assets securing its loans is applied towards repaying a debtor's indebtedness.  However as part of the debtor business plan, debtors may be permitted to retain an agreed portion of this income to cover business overheads. Debtors are allowed a salary out of business...

Written Answers — Department of Finance: NAMA Debtor Agreements (4 Mar 2014)

Michael Noonan: I am advised by NAMA that it has completed the assessment of all 775 debtor business plans.  I am advised that NAMA has three core strategies in place for debtors. A strategy of debtor support is in place for debtors who have 43% of NAMA debt, a restructuring strategy is in place for debtors with 26% of NAMA debt and an enforcement strategy is in place for debtors with 31% of the NAMA...

Written Answers — Department of Finance: NAMA Social Housing Provision (4 Mar 2014)

Michael Noonan: Decisions relating to the location of social housing are a matter for local authorities by reference to national and local planning and housing policy.  A major factor is the amount already in place in certain areas where the local authority and housing agency does not see it as being desirable to have increased levels of social housing. Neither NAMA nor the Minister for Finance has...

Written Answers — Department of Finance: NAMA Debtor Agreements (4 Mar 2014)

Michael Noonan: I am advised by NAMA that it has received 320 applications for rent abatement through its debtors and receivers.  Of these 276 applications have been approved, 34 are currently being assessed and 10 have been refused.  The aggregate annual value of approved rent abatements is, to date, €18m.  NAMA has also granted long-term rent reliefs with a value in excess of...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (4 Mar 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 Special Liquidators appointed PwC as independent advisors to value the residential mortgage portfolio and also to provide independent advice in developing a robust and credible sales strategy for...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (4 Mar 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. On the appointment of the Special Liquidators, I instructed them to arrange for the valuation of IBRC s loan assets by independent advisors and to ensure that the valuation of all loan assets was completed on...

Written Answers — Department of Finance: IBRC Loans (4 Mar 2014)

Michael Noonan: I am advised by the Special Liquidators that 2% of borrowers were not allowed to bid for their own loans. The Special Liqidators would like to clarify that they have stated that 33 Borrower Groups, representing 0.2% of total Borrower Groups, were and are being offered for sale on a standalone basis. The total par value of these 33 Borrower Groups will not be disclosed as this is...

Written Answers — Department of Finance: Departmental Agencies Staff Remuneration (4 Mar 2014)

Michael Noonan: In response to the Deputy's question bodies under the aegis of my Department are fully compliant with the consolidated  public sector pay scales and top-up payments have not been made to staff of these agencies.

Written Answers — Department of Finance: Credit Availability (4 Mar 2014)

Michael Noonan: The Central Bank's Code of Conduct for Business Lending to Small and Medium Enterprises provides that a regulated entity must not impose unreasonable personal guarantee requirements on borrowers. In addition, where a regulated entity seeks collateral or a personal guarantee to support a lending proposition it must explain clearly the possible implications for the guarantor of giving such...

Seanad: Economic Growth and Job Creation: Statements (4 Mar 2014)

Michael Noonan: I am after rushing across, so I am breathless.

Seanad: Economic Growth and Job Creation: Statements (4 Mar 2014)

Michael Noonan: I welcome this opportunity to speak on economic growth and job creation. When the Government took office in 2011, it had a clear strategy to restore stability to a country that was on its knees and get people back to work. Those who have lost their jobs have been hit hardest by the crisis. Over the course of the crisis, some 330,000 jobs were lost and unemployment reached a peak of 15.1%...

Seanad: Economic Growth and Job Creation: Statements (4 Mar 2014)

Michael Noonan: I thank the Senators for an interesting debate. It is always good to come to the Seanad. It is very nice to hear people speak sincerely and address the problems without grandstanding. I have found that people speak from the heart more often in the Seanad than in the Dáil. It is impossible sitting here to distinguish the political label that attaches to party members because Senators...

Seanad: Economic Growth and Job Creation: Statements (4 Mar 2014)

Michael Noonan: I do not think that I shall have time to go through individual remarks but I shall try to prioritise them. The people who have suffered the most over the past number of years are the people who lost their jobs and I think everyone will agree with that. The people who suffered after that were the families who lost their sons and daughters to emigration so the emigrants and their families...

Seanad: Economic Growth and Job Creation: Statements (4 Mar 2014)

Michael Noonan: Senator Kathryn Reilly gave a very interesting speech from the perspective of a young person. I very much welcome her contribution. I thank Senator Fidelma Healy Eames for her suggestions. Of course there are too many charges, but where do I get the money to address that? It is a case of getting the economy growing and then looking at pulling back some of those charges. We have gone...

Protection of Residential Mortgage Account Holders Bill 2014: Second Stage (Resumed) [Private Members] (5 Mar 2014)

Michael Noonan: I thank all Deputies for their contributions to what has been a constructive debate. I am fully aware of the concern among mortgage account holders that they could lose the protection of the Central Bank's code of conduct on mortgage arrears. The Sale of Loan Books to Unregulated Third Parties Bill which is listed in the Government legislative programme was always intended to address...

Written Answers — Department of Finance: Tax Credits (5 Mar 2014)

Michael Noonan: The One-Parent Family Credit ceased with effect from 31 December 2013 and was replaced by the Single Person Child Carer Credit, (SPCCC), from 1 January 2014.  Only one credit in respect of any qualifying child is available.  This credit will only be granted to a primary claimant who has a qualifying child residing with him or her for the whole or greater part of a tax year; that is,...

Written Answers — Department of Finance: Banking Licence Applications (5 Mar 2014)

Michael Noonan: To date, no application for a bank licence has been received by the Central Bank for any bank to offer retail products under Sharia'h law in the Irish domestic market.

Written Answers — Department of Finance: Tax Reliefs Application (5 Mar 2014)

Michael Noonan: Relief in respect of health expenses is allowed in accordance with the provisions of section 469 of the Taxes Consolidation Act 1997.  In order to qualify for relief an individual must show that he or she has incurred "health expenses" for the provision of "health care". For the purposes of section 469 "health care" is the prevention, diagnosis, alleviation or treatment of an ailment,...

Written Answers — Department of Finance: Irish Language Issues (5 Mar 2014)

Michael Noonan: The Irish language translation costs for my Department are set out in the following table: Year 2011 2012 2013 2014 Amount €7,511.14 €6,232.79 €10,202.25 €7,618.21

Written Answers — Department of Finance: NAMA Portfolio Value (5 Mar 2014)

Michael Noonan: I am advised by NAMA that it estimates that €734m of the €3.5 billion loan nominal acquired by NAMA for nil consideration were secured by Property. Of the loans secured by property NAMA estimates that €425m was secured by land and development and €309m was secured by investment properties. The balance of the loans of €2.8 billion were unsecured or secured...