Results 18,481-18,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Restructuring (4 Feb 2015)

Michael Noonan: The Credit Union Restructuring Board (ReBo) is actively involved with 147 credit unions in 68 different projects. Of these, 8 credit union mergers involving 20 credit unions have been completed to date; 4 proposals involving 12 credit unions are at approval stage and are due to complete shortly; 30 proposals, involving 69 credit unions are at an advanced...

Written Answers — Department of Finance: Economic Growth (4 Feb 2015)

Michael Noonan: Growth prospects in Europe were discussed by Madame Lagarde and all participants, including myself, during the panel discussion at a conference in Dublin Castle entitled Ireland Lessons from Its Recovery from the Bank-Sovereign Loop. These discussions were streamed live by the event organisers and are available at:  The latest economic developments in the euro...

Written Answers — Department of Finance: Debt Conference (4 Feb 2015)

Michael Noonan: The issue of a debt conference was discussed by Madame Lagarde and all participants, including myself, during the panel discussion at a conference in Dublin Castle entitled Ireland Lessons from Its Recovery from the Bank-Sovereign Loop. These discussions were streamed live by the event organisers and are available at: As you will see from the recording, Madame Lagarde stated the view...

Written Answers — Department of Finance: Debt Conference (4 Feb 2015)

Michael Noonan: My view is that when countries encounter difficulties, a process of negotiation is always better than one of conflict. Specifically in the case of euro area Member States, all programme negotiations have been conducted within the Eurogroup and Ecofin, with IMF involvement as appropriate.  My view is that these are the appropriate fora for resolving outstanding issues.

Written Answers — Department of Finance: Water Conservation Grant (4 Feb 2015)

Michael Noonan: To promote sustainable use of water and to enhance water conservation in households, the Government decided to introduce a €100 water conservation grant for all households (principal private dwellings) that complete a valid response to Irish Water s customer registration process. The grant of €100 per annum will be available to all households, irrespective of the manner in...

Written Answers — Department of Finance: NAMA Assets Sale (4 Feb 2015)

Michael Noonan: As the Deputy will be aware, a significant consequence of the financial crises in Ireland has been the deleveraging of our financial services system, which includes the individual bank asset sales programmes which are now largely complete, the liquidation of IBRC and the ongoing disposal of NAMA's assets. A key objective in each of these deleveraging...

Written Answers — Department of Finance: Tax Code (4 Feb 2015)

Michael Noonan: As the Deputy will be aware, the Statement of Priorities issued by the Government in July 2014 included a commitment for an income tax reform plan  to be delivered over a number of budgets, to reduce the 52% marginal tax rate on low and middle-income earners, in a manner that maintains the highly progressive nature of the Irish tax system. The first stage of the plan was given effect...

Written Answers — Department of Finance: VAT Rate Application (4 Feb 2015)

Michael Noonan: In relation to safety equipment, Article 110 of the EU VAT Directive law provides that it is only possible to apply a zero rate to goods and services where a Member State applied a zero rate to that specific good or service on and from 1 January 1991. Zero-rating is an historical derogation from the normal VAT rules, where the intention is that such VAT treatment is temporary, and...

Written Answers — Department of Finance: IBRC Operations (4 Feb 2015)

Michael Noonan: For clarity's sake, the sale of Siteserv occurred prior to the Special Liquidation of IBRC, under the previous board and management of IBRC.  As already indicated to the Deputy in Parliamentary Question No. 220 of 16 December 2014, notwithstanding the State s ownership of the bank at the time, it was a matter for the board and management of IBRC to determine and...

Written Answers — Department of Finance: Banking Sector (4 Feb 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters and hence any discussions around outsourcing, pension reform etc. are a matter for the bank, the staff and their union representatives. Notwithstanding this position, my officials...

Written Answers — Department of Finance: Banking Sector (4 Feb 2015)

Michael Noonan: As I am sure the Deputy will be aware, I have been informed by Minister of State Harris that he met with Cathaoirleach and CEO of Leitrim County Council in November regarding the MBNA closure, there were also EI and IDA representatives present.   Minister of State Harris, in his role regarding international banking, is currently developing an International...

Written Answers — Department of Finance: NAMA Social Housing Provision (4 Feb 2015)

Michael Noonan: NAMA has made significant numbers of housing units available through the Housing Agency to local authorities and approved housing bodies for social housing.  As the Deputy is aware, NAMA was established primarily in order to acquire property and related loans from five financial institutions so as to remove this systemic risk to the Irish banking system and secondly, to obtain the best...

Written Answers — Department of Finance: Mortgage Repayments (4 Feb 2015)

Michael Noonan: The lending institutions, including those which have acquired loan books, are independent commercial entities. However, the Deputy will be aware that Second Stage of the Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 will be taken in the Dáil today and tomorrow (4thand 5thFebruary). The purpose of this legislation is to protect consumers whose loans...

Written Answers — Department of Finance: Bank Branch Closures (4 Feb 2015)

Michael Noonan: The Deputy will be aware that the issue of branch closures by Ulster Bank was raised in the Dáil on Thursday 22 January. The full text of the debate is available on the Oireachtas website. As I said then, this is a commercial and operational matter for the Ulster Bank, a wholly-owned subsidiary of the Royal Bank of Scotland group, and it would not be appropriate for me as...

Written Answers — Department of Finance: Property Tax Exemptions (4 Feb 2015)

Michael Noonan: As I previously advised the Deputy, officials of my Department, together with officials of the Department of Environment, Community & Local Government, are examining the alternatives other than testing that may be available in order to confirm entitlement to a Local Property Tax (LPT) exemption.  My officials continue to examine this issue and how it can be...

Written Answers — Department of Finance: Tax Code (4 Feb 2015)

Michael Noonan: As the Deputy is aware, in the recent Budget I announced the extension of the artists' exemption to artists who are resident or ordinarily resident and domiciled in one or more EU Member States, or in another EEA state, and not resident elsewhere.     The EU Commission had raised concerns that, without this inclusion, the scheme could be in contravention of the Treaty...

Written Answers — Department of Finance: IBRC Liquidation (4 Feb 2015)

Michael Noonan: The Special Liquidators continue to implement the orderly and efficient wind down of Irish Bank Resolution Corporation Limited (in Special Liquidation) in accordance with the provisions of the IBRC Act and the instructions issued by the Minister for Finance under the IBRC Act 2013. As the Deputy is aware, for operational reasons, the loan assets of IBRC were divided into six portfolios:...

Written Answers — Department of Finance: Banking Sector Staff (4 Feb 2015)

Michael Noonan: As the Deputy will be aware under the Relationship Frameworks the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters and hence any discussions around pensions and other staff related issues are a matter for the bank, the staff and their union representatives. I have been informed that the bank is not aware of...

Written Answers — Department of Finance: Mortgage Arrears Proposals (4 Feb 2015)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (the CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The CCMA sets out requirements for mortgage lenders dealing with borrowers facing or in arrears on a mortgage which is secured on a primary home and provides a strong consumer...

Written Answers — Department of Finance: Economic Growth (4 Feb 2015)

Michael Noonan: The new Greek Government has only just assumed office and is therefore still formulating its policies. So there remains some uncertainty regarding the likely path that the new Government will take.  This uncertainty has been associated with financial market volatility in Greece, with a decline in equity prices and a sharp spike in bond yields. Having said that, markets...