Results 17,941-17,960 of 27,019 for speaker:Michael Noonan

Ceisteanna - Questions - Priority Questions: Housing Data (3 Dec 2014)

Michael Noonan: Although rents have risen rapidly throughout the country and particularly in Dublin in the past 12 months, they are still not where they were a couple of years ago. There was a collapse in the rental market similar to the collapse of housing values. As the economy is being restored, rents are going up again, although they are still not back where they were a couple of years ago. There is...

Ceisteanna - Questions - Priority Questions: Housing Data (3 Dec 2014)

Michael Noonan: As I said, there is no evidence to support the theories the Deputy is propounding. The Minister for the Environment, Community and Local Government, Deputy Alan Kelly, made a major announcement last week on housing, including social housing. He set out a number of initiatives, which are fully funded by the Government's decision, to deal with this problem. It is a very progressive and...

Ceisteanna - Questions - Priority Questions: Housing Data (3 Dec 2014)

Michael Noonan: There is a demand and they will be bought. I am not saying there is no problem. All I am saying is the problem is being addressed and that the Deputy's analysis of the problem is fundamentally flawed.

Other Questions: Personal Insolvency Act (3 Dec 2014)

Michael Noonan: The information I am giving the House has been provided by the particular institutions. So far this year, AIB has been the controlling voter in 78 cases of personal insolvency process proposals. It voted in favour of the proposal in 51 of the 62 personal insolvency arrangement cases and against it in the other 11. AIB voted in favour of the proposal in all 16 debt settlement arrangement...

Other Questions: Personal Insolvency Act (3 Dec 2014)

Michael Noonan: While the initial take-up of insolvency solutions has been low, it should be noted that the number of cases in the system has increased to over 850. These cases will be worked through in the coming weeks and months. The fact that the Insolvency Service of Ireland is now in place has acted as a catalyst in encouraging debtors and creditors to reach bilateral deals to address insolvencies....

Other Questions: Personal Insolvency Act (3 Dec 2014)

Michael Noonan: The take-up was slow initially but there was an expectation that there would be a slow start to this new legislation in this jurisdiction. The recent Insolvency Service of Ireland, ISI, quarterly statistics were published in October and in summary, during quarter three, 61 debt relief notices, 22 debt settlement arrangements and 48 personal insolvency arrangements were approved. In...

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: I thank the Deputy for allowing me the opportunity to once again, answer this question which he also put to me at my previous appearance before the House to answer parliamentary questions. It is simply not true that the income tax and USC changes in the budget disproportionately favour those on higher incomes. However, I do not mind once again explaining our position as it is important...

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: I do not know the source of the Deputy’s statistics in respect of an unemployed couple.

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: An unemployed couple does not pay tax or USC so I cannot understand how he is attributing a saving on income tax and USC for an unemployed couple and using it-----

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: -----as a comparison. Unemployed people do not pay tax. They do not pay USC. I do not understand the point the Deputy is making. A single individual employed on the standard minimum wage of €17,542 per annum pays income tax of €4.01 and USC of €10.51 per week. Furthermore, someone on the standard minimum wage is also exempt from paying pay related social insurance,...

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: The relief is delivered through reductions in USC and reductions in income tax. A person on an income of up to €16,500 pays no income tax, so it is not possible to give him or her relief by reducing income tax.

Other Questions: Budget 2015 (3 Dec 2014)

Michael Noonan: The Deputy is challenging me on tax. I do not handle the social welfare budget. As people earn more, they pay more in tax. When one starts to unwind it and give relief, those that earn more will be advantaged when it comes to reducing the tax imposition, because they pay more tax. To avoid what the Deputy is challenging me with, I put a cap at €70,000. The maximum is €14...

Other Questions: EU-IMF Programme of Support (3 Dec 2014)

Michael Noonan: Following our successful exit from the EU-IMF programme of financial support on 15 December last, we are now subject to EU post-programme surveillance and IMF post-programme monitoring. Twice-yearly review missions are conducted by the European Commission, the ECB and the IMF as part of post-programme monitoring and surveillance.  In this context, the second post-programme review...

Other Questions: EU-IMF Programme of Support (3 Dec 2014)

Michael Noonan: Neither I, the Minister for Public Expenditure and Reform, Deputy Howlin, nor any other Minister met with the troika on this occasion. The post-programme surveillance is now conducted by civil servants of the Departments, as I outlined, and members of the troika. I am relating what was discussed at second hand, on the basis of briefing. I understand the water issue arose and that the...

Other Questions: EU-IMF Programme of Support (3 Dec 2014)

Michael Noonan: The Central Bank is in charge of the prudential arrangements for lending by the banks, including mortgage lending. It has made announcements for the purpose of consultation and it has allocated a period for that consultation to take place. The 80% ceiling is a controversial announcement and people have different views on it. Different organisations are making submissions, including the...

Other Questions: Mortgage Interest Rates (3 Dec 2014)

Michael Noonan: The lending institutions in Ireland, including those in which the State has a shareholding, are independent commercial entities. I have no statutory role in whether regulated financial institutions pass on the ECB interest rate or in the mortgage rates they charge. They are commercial matters for each institution. The Central Bank has responsibility for the regulation and supervision of...

Other Questions: Mortgage Interest Rates (3 Dec 2014)

Michael Noonan: Three years ago, the banks were insolvent and an enormous amount of State funds had to be injected into them. Since then, the banking industry, particularly the banks the Deputy mentioned, have improved and secured their positions. However, the banking system is still in difficulty and is not operating like a mature banking system in a European country. The repair work continues, and they...

Other Questions: Mortgage Interest Rates (3 Dec 2014)

Michael Noonan: I will not comment on remarks made by Members of the European Parliament, including former Minister of State, Brian Hayes. There is no standard interest rate across the European Community from which we vary. There are variations in every country. There are different rates in different countries, depending on circumstances. In our circumstances, as a result of the impairment of the banks...

Written Answers — Department of Finance: Property Taxation Rate (3 Dec 2014)

Michael Noonan: As the Local Property Tax is a new tax, the Government wished to provide certainty to homeowners and for this reason valuation periods of three years were introduced (with the exception of the first valuation period which covers three and a half years). In addition to providing certainty, it also eases the administration burden on the homeowner by not having to revalue their houses each...

Written Answers — Department of Finance: Tax Data (3 Dec 2014)

Michael Noonan: I am informed by the Revenue Commissioners that every principal contractor who enters into a contract with a sub-contractor in relation to construction, forestry or meat processing operations is obliged to register as a principal contractor for RCT.  Sub-contractors, who are not already registered for RCT, will be automatically registered for RCT on foot of a contract notification from a...