Results 16,001-16,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Priory Hall Development (19 Jun 2014)

Michael Noonan: An Implementation Oversight Group, under the aegis of the Department of the Taoiseach, is in place to oversee the overall implementation of the October 2013 Priory Hall Resolution Framework. The Framework provides, inter alia, that the credit rating of the residents of Priory Hall apartments, in respect of the mortgage loans on those properties, be restored to the position it would have been...

Written Answers — Department of Finance: NAMA Loan Book (19 Jun 2014)

Michael Noonan: I would like to advise the Deputy that a detailed breakdown of the property securing NAMA's remaining loans by region and by sector is outlined on page 42 of its Annual Report and Financial Statements for 2013, which is available on the Agency's website, . In evidence to the Dáil Committee of Public Accounts on 29 May, NAMA indicated that it has an interest as a secured lender in...

Written Answers — Department of Finance: Property Taxation Exemptions (19 Jun 2014)

Michael Noonan: To be eligible for an exemption from the charge to Local Property Tax (LPT), a liable person must obtain a certificate from a competent person, such as an engineer or a geologist, confirming the presence of significant pyritic damage and, I am informed, a liable person cannot claim the exemption until the relevant certificate has been issued in respect of the residential property...

Written Answers — Department of Finance: Banks Recapitalisation (19 Jun 2014)

Michael Noonan: The table referred to in PQ 18719/12 issued on April 18th 2012 showed a total investment by the State of €1.2bn in Bank of Ireland as a result of the 2011 PCAR exercise. This figure was shown coming from the NPRF and a note to the table indicated that the contribution from the exchequer was put at zero as the figure was calculated net of the proceeds from the share sale to private...

Written Answers — Department of Finance: Credit Unions Regulation (19 Jun 2014)

Michael Noonan: I have been informed by the Central Bank of Ireland that while the Central Bank does not comment on any specific institution, they have confirmed that they are engaged with the credit union in relation to certain irregularities and there is an on-going Garda investigation into these matters.  It has been brought to my attention that a number of anomalies were discovered in...

Written Answers — Department of Finance: Budget Consultation Process (19 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 47 and 49 together. My Department is always considering how to present Budgetary information more clearly. In recent times, we have, for example, published alternative presentations of Exchequer returns, provided presentations and infographics along with the Budgetary material, published monthly revenues and expenditures of all sectors of general government...

Written Answers — Department of Finance: Economic Policy (19 Jun 2014)

Michael Noonan: Up until recently, the forecasting period covered in the Budget and Stability Programme included the current year, and at least three future years, for example 2014 - 2017. Under the new European fiscal framework, Ireland is required to provide forecasts in the Budget and the Stability Programme for a period until the medium-term budgetary objective (also known as MTO) is achieved, which in...

Written Answers — Department of Finance: EU Fiscal Policy (19 Jun 2014)

Michael Noonan: Member States subject to a macroeconomic adjustment programme are exempt from submitting a Draft Budgetary Plan (DBP). Cyprus, Greece, Portugal and Ireland did not have to present a DBP, as the surveillance took place in the context of the programme. Therefore the assessment of the euro area was based on the 13 Member States that submitted DBPs. In the case of Austria, Germany...

Written Answers — Department of Finance: Departmental Staff Remuneration (19 Jun 2014)

Michael Noonan: The cumulative total of unapproved salary top-ups currently being paid under the remit of my Department is nil.

Written Answers — Department of Finance: Carbon Tax Implementation (24 Jun 2014)

Michael Noonan: Carbon Tax is based on the carbon emissions of fossil fuels. The carbon tax on coal, therefore, is not based on smoke emissions but rather the carbon emissions which are the same regardless of whether the coal is smokeless or smoky.

Written Answers — Department of Finance: Fiscal Policy (24 Jun 2014)

Michael Noonan: The Fiscal Council's most recent Fiscal Assessment Report was published on 17th June 2014. The Fiscal Council's analysis and recommendations are being considered by my Department, and will feed into the preparation of its updated economic and fiscal projections in the Budget. As is my usual practice, we will be publishing a comprehensive response to this report. Firstly, it is important...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (24 Jun 2014)

Michael Noonan: I have been informed by the Central Bank that it conducted a review of the sale, from 1 July 2007 only, of Payment Protection Insurance by firms. It did not include sales prior to 1 July 2007. The Central Bank's Consumer Protection Code came into effect on 1 July 2007. This put the Code's requirements in relation to Knowing the Consumer and Suitability onto a statutory...

Written Answers — Department of Finance: Departmental Agencies Staff Recruitment (24 Jun 2014)

Michael Noonan: The new positions primarily reflect the proposed establishment of the Ireland Strategic Investment Fund (ISIF), which will have a mandate to invest on a commercial basis in a manner designed to support economic activity in Ireland, as well as the recruitment of additional IT specialists, on a one year fixed-term basis, to address project requirements in the IT security,...

Written Answers — Department of Finance: NAMA Debtor Agreements (24 Jun 2014)

Michael Noonan: NAMA is obliged to deal with the principal private residences of its debtors on a case-by-case basis by reference, inter alia, to all relevant legislation and the particular security arrangements in place. NAMA advises that its approach is to ensure that any equity in a debtor's principal private residence must be available to NAMA to apply towards debt repayment. Agreements reached with...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (24 Jun 2014)

Michael Noonan: I have been advised by the Special Liquidators that 64% of the residential mortgage portfolio of Irish Bank Resolution Corporation Limited (in Special Liquidation) has been sold to two buyers, namely Lone Star and Oaktree Capital Management, L.P. In relation to the remaining residential mortgage loans the Special Liquidators will now devise and manage a further sale process in respect of...

Written Answers — Department of Finance: Tracker Mortgage Numbers (24 Jun 2014)

Michael Noonan: As the Deputy will be aware during March, AIB Group (including EBS & Haven) announced its intention to launch a tracker rate retention offer (non forbearance) in the summer. I have been informed that the Bank is working to introduce this product on 1 July 2014  and full details of the offer and application process will be announced at that time.

Written Answers — Department of Finance: Mortgage Schemes (24 Jun 2014)

Michael Noonan: I propose to take Questions Nos. 134 and 135 together. In Ireland's recent abnormal housing market, we have seen lending volumes decline dramatically. The banks are highlighting the lack of supply of houses in particular urban areas as a contributing factor for the lack of drawdown of approved mortgage facilities. I would look upon the development of this initiative as being an aid to...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Jun 2014)

Michael Noonan: The current legal and regulatory framework for the provision of insurance in the European Economic Area (EEA), and the supervision of that activity, is prescribed by European Union Law in the Life and Non-Life Insurance Directives.  The Insurance Directives specify particular roles for both the home Member State supervisory authority (i.e. the supervisory authority that grants an...

Written Answers — Department of Finance: Insurance Industry Regulation (24 Jun 2014)

Michael Noonan: In my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The day to day responsibility for the supervision of financial institutions is a matter for the Central Bank of Ireland, which is statutorily independent in the exercise of its regulatory functions. I have contacted the Central Bank and they have...

Written Answers — Department of Finance: Tax Code (24 Jun 2014)

Michael Noonan: I am advised by the Revenue Commissioners that payments of rent by local authorities to landlords on behalf of tenants under the terms of the rental accommodation scheme are charged to tax in the hands of the landlord in the same manner as any other rent they might receive. Rent supplement is paid where an individual living in private rented accommodation cannot afford to pay the rent...