Results 2,021-2,040 of 27,019 for speaker:Michael Noonan

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: It is possible to grow the economy and everybody gains.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: He will not get his PhD on that basis.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: I disagree with the Deputy. First, the scheme is not being extended to apply to any building. It is still confined to buildings built before 1915. They have to be within the designated areas set out when the scheme was initiated. There is no new designation of areas into which buildings would fall. There has been a disappointing uptake because the conditions attached to the scheme,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: I know.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: The accommodation is in the wrong places.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: There were some other schemes and I abolished and phased out most of them. I am not saying we will bring them back, but I do not think we should exclude the tax incentivisation of projects for social or economic purposes from the tax code as a matter of principle. The living city initiative has been ratified for state aid purposes. The de minimisamendments being proposed do not extend the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: This has been around for a long time. I understand the Deputy's point of view. There is a difficulty about giving a tax break to people for the expense of getting from their home to their place of work. For non-executive directors claiming expenses for their activities as non-executive directors, Revenue would consider a person travelling to Dublin for a board meeting, for example, as that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: We have commenced a re-evaluation of the Deputy's amendment. I shall not read out the initial speaking note because it was, in effect, to turn the amendment down, but I will come back to the Deputy, maybe between now and Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: Is that on a pro bonobasis?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: Yes. We will look at that also.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: I understand the problem but I do not see a solution. That is my problem now. The first issue is the cost. We could also make a commitment to doing something in the future and including the cost next year but there could be unforeseen, unintended consequences along the lines of those mentioned by Deputy Boyd Barrett, in addition to other considerations. As explained by Deputy Donnelly,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: I will come back to it again on Report Stage. I can see many difficulties at present. I am not sure how extensive the problem is. We are getting submissions from landlords stating they cannot make a profit on rental accommodation and that they do not have a taxable income on rental accommodation. Tax liability is on the income, not on the total rent. There is a variety of costs that can...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: If they leave the country, they will still have the tax liability on profits from rental income.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: We will think about it between now and Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: Are we sitting tomorrow?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: I notify the committee that I will be out of the country on business next week. The Minister of State, Deputy Eoghan Murphy, will carry the remainder of Committee Stage.

Written Answers — Department of Finance: Brexit Issues (10 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 12 and 31 together. I am aware of the impact of recent exchange rate developments on the retail sector, particularly in the border region. Since the UK's vote on the 23rd June the euro has appreciated by over 15 per cent against sterling.  This will pose significant challenges for our economy, particularly for Irish exports to the UK and also for areas...

Written Answers — Department of Finance: VAT Yield (10 Nov 2016)

Michael Noonan: The latest forecast for 2016 VAT receipts are contained in Budget 2017 published last month. This projects that for this year VAT revenues will be €12.6 billion, which represents a 5.7 per cent or €690 million increase on the preceding year. This revised forecast is 1.8 per cent or €230 million below the original Budget 2016 projection. As an ad valorem tax, VAT...

Written Answers — Department of Finance: Banking Sector (10 Nov 2016)

Michael Noonan: As the Deputy will be aware, the Programme for a Partnership Government contains a commitment to investigate the German Sparkassen model for the development of local public banks that operate regionally for which the Department of Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs (DAHRRG) has primary responsibility. I understand that the Department of...

Written Answers — Department of Finance: Credit Unions (10 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 16, 23, 42 and 46 together. The decision to apply to the High Court to wind up Rush Credit Union Ltd was made by the Governor of the Central Bank. The legal grounds under which the Governor made this decision are set out in the Central Bank and Credit Institutions (Resolution) Act 2011. I have been informed by the Central Bank that it made...