Results 19,241-19,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Growth (1 Apr 2015)

Michael Noonan: First estimates of economic activity for 2014 show that real GDP rose 4.8 per cent in 2014 compared with 2013.  GNP rose by 5.2 per cent. Domestic demand grew on an annual basis for the first time since 2007.  Both private consumption and investment contributed to this growth. Exports rose by 12.6 per cent annually in 2014.  This was the fastest rate of expansion since 2001....

Written Answers — Department of Finance: Home Repossession (1 Apr 2015)

Michael Noonan: The Government's response to mortgage arrears has been multi-faceted.  The Central Bank has undertaken capital assessment reviews, stress tests, distressed credit operation reviews, balance sheet assessment exercises, a range of on-site inspections and throughout this period there has been on-going and intensive supervisory engagement with the banks.  ...

Written Answers — Department of Finance: Tax Code (1 Apr 2015)

Michael Noonan: The EU Commission published the proposal for a Common Consolidated Corporate Tax Base (CCCTB) in March 2011.  The proposal provides for common rules for calculating the corporate tax base, a consolidated tax base for all group entities within the EU and apportionment of the consolidated tax base between Member States under a formula of apportionment.  While Ireland remains...

Written Answers — Department of Finance: Economic Growth (1 Apr 2015)

Michael Noonan: Ireland was the fastest growing economy in Europe in 2014 with real GDP growth of 4.8 per cent compared with real GDP growth in the euro area economy of 0.9 per cent and 1.3 per cent in the EU economy.  Economic growth in Ireland is now more broadly balanced, with exports contributing to growth as a result of competitiveness gains and with the...

Written Answers — Department of Finance: EU Membership (1 Apr 2015)

Michael Noonan: The Government's position on developments in relation to the UK's membership of the EU has been set out on a number of occasions by the Taoiseach and the Minister for Foreign Affairs and Trade. The UK's continuing membership of the EU is a strategic objective for the Government. It is very important for our economy and for the ongoing development of good relations between Ireland and the UK....

Written Answers — Department of Finance: Mortgage Arrears Rate (1 Apr 2015)

Michael Noonan: Tackling mortgage arrears is a priority for the Government. A whole-of-Government approach has been adopted in addressing the issue with a view to maximising the level of loan restructuring arrangements and minimising the number of home repossessions.  Initiatives such as the reform of Personal Insolvency legislation and establishment of the Insolvency Service of Ireland, the...

Written Answers — Department of Finance: Economic Policy (1 Apr 2015)

Michael Noonan: My Department monitors the overall performance of the economy and of individual sectors on an ongoing basis.  Key sectors of the economy are subject to scrutiny as part of this process. In addition, my Department plays an active role in supporting and contributing to the Government's range of strategies such as the Construction 2020 Strategy and the Action Plan for Jobs 2015 as...

Written Answers — Department of Finance: Bank Charges (1 Apr 2015)

Michael Noonan: As I stated in my reply to the Deputy in a previous Parliamentary Question (5168/15) on this subject on 4 February 2015, all credit institutions in Ireland are independent commercial entities. I have no statutory role in relation to the charges applied by credit institutions. Section 149 of the Consumer Credit Act 1995 requires that credit institutions, prescribed credit...

Written Answers — Department of Finance: Credit Availability (1 Apr 2015)

Michael Noonan: This Government recognises that small businesses play a central role in the sustainable recovery of the Irish economy. To facilitate this, Government policy since 2011 has been focused on ensuring that all viable SMEs have access to an appropriate supply of credit for working capital or other purposes from a diverse range of bank and non-bank sources. As regards the success of...

Written Answers — Department of Finance: Ministerial Correspondence (2 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 73 and 74 together. The details supplied by the Deputy relate to correspondence from a Ms Karen Hudes which is understood to have been sent to all Ministers for Finance of member countries of the IMF/ World Bank.I have also received the correspondence directly from Ms Hudes via the Embassy in Washington.  I understand that Ms Hudes is a...

Written Answers — Department of Finance: Motor Insurance Regulation (2 Apr 2015)

Michael Noonan: In my role as Minister for Finance I have responsibility for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland, as regulator, interfere in the pricing of insurance products. The provision of insurance cover, the price at which it is offered and the expiring of no claims discounts is a commercial...

Written Answers — Department of Finance: Tax Reliefs Availability (2 Apr 2015)

Michael Noonan: Section 469 of the Taxes Consolidation Act 1997 provides for relief for health expenses defrayed in the provision of health care by an individual on his or her own behalf or on behalf of others. For the purposes of that section, health care includes prevention, diagnosis, alleviation or treatment of an ailment, injury, infirmity, defect or disability. Health expenses include the cost of...

Written Answers — Department of Finance: Fuel Laundering (2 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners, who are responsible for tackling fuel fraud, that they are very aware of the risks posed to consumer's vehicles, legitimate businesses and the Exchequer by all forms of fuel fraud. Revenue has, since last summer, received reports from a variety of locations around the country of problems relating to petrol quality, and suggestions that these...

Written Answers — Department of Finance: IBRC Legal Cases (2 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 78 and 79 together. As the Deputy is aware, the Special Liquidators of IBRC are unable to comment on individual cases. Furthermore, it would not be helpful or appropriate for me to comment on ongoing legal proceedings. Officials in my Department meet with the Special Liquidators on a regular basis as a matter of course and any material issue or...

Written Answers — Department of Finance: Consumer Protection (2 Apr 2015)

Michael Noonan: The Central Bank of Ireland is the appropriate authority on this matter. Section 12 of the Consumer Credit Act 1995 provides that a breach of section 129(2) of that Act is a criminal offence prosecutable summarily by the Central Bank.  A breach of section 129(2) may also be capable of being pursued by way of the Administrative Sanctions Procedure.  The Central Bank has advised...

Written Answers — Department of Finance: NAMA Expenditure (2 Apr 2015)

Michael Noonan: A breakdown of the fees sought by the Deputy is set out below. 2013 Legal, advisory and consultancy fees Legal, consulting and advisory fees as per the published accounts for 2013 and they include invoices paid to suppliers and the movement in expense accruals.  Invoices paid in a year may relate to services incurred in other years.  Invoices for professional services paid in 2013...

Written Answers — Department of Finance: National Debt (2 Apr 2015)

Michael Noonan: The debt for the period 2010-2015 can be outlined as follows: 2009 2010 2011 2012 2013 Q3 2014 2015f National debt (% GDP) 44.7 56.7 69.6 79.7 99.5 97.0 n/a General government debt (% GDP) 62.2 87.4 111.1 121.7 123.3 114.8 108.5Source: CSO, Department of Finance, NTMA Note 1: Quarter 3 2014 debt figures are the most recent official debt data published by the CSO. Note 2: The 2015...

Written Answers — Department of Finance: General Government Debt (2 Apr 2015)

Michael Noonan: The budget deficits for the period 2010-2015 can be outlined as follows: 2010 2011 2012 2013 2014f 2015f Deficit (% GDP) -32.4 -12.6 -8.0 -5.7 -3.7 -2.7 Underlying Deficit (% GDP) -11.0 -8.6 -8.0 -5.7 -3.7 -2.7Source: Eurostat, Department of Finance - forecasts as per Budget 2015. The underlying general government deficit excludes the one-off capital injections made to the financial...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (15 Apr 2015)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, assistance with fuel costs, and an exemption from Motor Tax. Under the Scheme, a citizen can claim remission or repayment of VRT, repayment of VAT on the purchase of a...

Written Answers — Department of Finance: Tax Code (15 Apr 2015)

Michael Noonan: I understand that this question may relate to the new EU Basic Payment Scheme for farmers. I am informed, in that context, that where an application for the Basic Payment Scheme entitlements is made in respect of a herd number which is in joint names that any entitlements awarded will be owned in those joint names. Given that understanding, I am informed by the Revenue Commissioners that the...