Results 3,001-3,020 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Statements (29 Sep 2016)

Michael Noonan: In the Summer Economic Statement, estimates of tax revenues and appropriations-in-aid show a projected nominal increase of €13.1 billion from 2016 to 2021. When expressed as a percentage of GDP, there is a small decline to 24.4% from 25.9%. These forecasts take account of €2.54 billion of fiscal space allocated to proposed tax reductions to be...

Written Answers — Department of Finance: VAT Registration (29 Sep 2016)

Michael Noonan: The registration thresholds is a special scheme for small enterprises. In general, there are two thresholds: the goods threshold, which is currently €75,000, and the services threshold, which is €37,500. Different VAT registration thresholds for the supply of goods and services are a feature of the EU VAT Directive and Irish VAT legislation and reflect the profound difference...

Written Answers — Department of Finance: Mortgage Arrears Proposals (29 Sep 2016)

Michael Noonan: The Deputy will be aware that the lending institutions in Ireland, including those in which the State has a significant shareholding, are independent commercial entities and that relationship frameworks are in place with the State owned banks which provide that the State will not intervene in the day-to-day operations of the banks or their management decisions. These frameworks are required...

Written Answers — Department of Finance: State Aid Investigations (29 Sep 2016)

Michael Noonan: On 30 August 2016, the European Commission issued a negative decision in the Apple State Aid case. The Government profoundly disagrees with the Commission's analysis in the Apple case and will now challenge the decision before the European Courts.  Dáil Éireann has also passed a motion supporting the Government's decision to appeal the European Commission's decision....

Written Answers — Department of Finance: Small and Medium Enterprises Supports (29 Sep 2016)

Michael Noonan: As the Deputy is aware, small and medium sized businesses play a central role in the sustainable recovery of the Irish economy.  To facilitate this, Government policy is focused on ensuring that all viable SMEs have access to an appropriate supply of credit from a diverse range of bank and non-bank sources.  Officials from my Department regularly meet industry bodies to...

Written Answers — Department of Finance: Insurance Costs (29 Sep 2016)

Michael Noonan: The Cost of Insurance Working Group, which I chair, is undertaking a review of the factors which are influencing the increased cost of motor insurance. The Working Group brings together all the relevant Departments and Offices involved with the process.  Its objective is to identify immediate and longer term measures which can address increasing costs, while bearing in mind the need to...

Written Answers — Department of Finance: Departmental Meetings (29 Sep 2016)

Michael Noonan: While the term vulture fund is not recognised in the Taxes Acts, a small number of structures that have been using section 110 TCA 1997 to avoid paying tax on Irish property transactions have been brought to my attention.  To address these concerns, on 06 September, I published a proposed amendment which tackles any misuse of the current section 110 regime in relation to Irish property....

Written Answers — Department of Finance: Motor Insurance Regulation (29 Sep 2016)

Michael Noonan: The provision of insurance cover and the price at which it is offered is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks. The Minister for Finance is responsible for the development of the legal framework governing financial regulation. The EU framework expressly prohibits...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (29 Sep 2016)

Michael Noonan: The Ireland Strategic Investment Fund (ISIF) was established in December 2014. Given ISIF's new and unique mandate as a sovereign development fund, and because of the uncertainty regarding the investment opportunities in Ireland, it was agreed that a formal review of the ISIF investment strategy would take place after 18 months. This was to allow for a sufficient period of time having...

Written Answers — Department of Finance: Interest Rates (29 Sep 2016)

Michael Noonan: The issue of standard variable mortgage rates is a significant one for this Government and it has made it clear that it is not acceptable for lenders to charge excessive rates on such mortgages. The Programme for a Partnership Government, therefore, has set out a range of measures which seek to provide for greater transparency and competition in the mortgage market. These actions...

Written Answers — Department of Finance: Property Tax Rate (29 Sep 2016)

Michael Noonan: Section 20 of the Finance (Local Property Tax) Act 2012 (as amended) allows a Local Authority to increase or decrease the basic rate of Local Property Tax (LPT) by up to 15% in respect of residential properties situated within their respective areas. Regulations made in 2014 by the Minister for Housing, Planning, Community and Local Government specify certain procedures that must be...

Written Answers — Department of Finance: Departmental Expenditure (29 Sep 2016)

Michael Noonan: This is a legal process that could take several more years to conclude.  It is therefore not possible to provide a comprehensive estimate of expected further expenses at this time.  As it is an important issue for the State, the case will continue to be appropriately resourced.

Written Answers — Department of Finance: Climate Change Policy (29 Sep 2016)

Michael Noonan: My Department is participating, in accordance with its functions, in a whole-of-Government approach led by the Minister for Communications, Climate Action and Environment, to develop and articulate Ireland's policy position under the United Nations Framework Convention on Climate Change. This includes implementation of the Paris agreement. Article 2 of the Agreement...

Written Answers — Department of Finance: Departmental Legal Cases (29 Sep 2016)

Michael Noonan: The Government has authorised me to arrange for annulment proceedings to be brought before the General Court of the European Union in the Apple State case.  The Attorney General has been requested to prepare the legal grounds in support of those proceedings and to take all other steps incidental to the conduct of those proceedings. Ireland has two months and 10 days to lodge its appeal....

Written Answers — Department of Finance: State Aid (29 Sep 2016)

Michael Noonan: On 30 August 2016, the European Commission issued a negative decision in the Apple State Aid case.  The Government profoundly disagrees with the Commission's analysis and will now challenge the decision before the European Courts. Ireland did not give favourable tax treatment to Apple.  Ireland does not do deals with taxpayers. No other companies are covered by the European...

Written Answers — Department of Finance: Mortgage Arrears Proposals (29 Sep 2016)

Michael Noonan: The Deputy will be aware of the publication in July of the Action Plan for Housing and Homelessness by the Minister for Housing, Planning, Community and Local Government.  This Action Plan sets out how the Government plans to meet the challenging commitments made in the Programme for a Partnership Government in respect of dealing with homelessness, including how it will address the high...

Written Answers — Department of Finance: Small and Medium Enterprises Supports (29 Sep 2016)

Michael Noonan: In 2015, the Sparkassenstiftung für Internationale Kooperation (Savings Banks Foundation for International Cooperation - SBFIC), with the support of the Public Banking Forum of Ireland, submitted a proposal to the Department of Finance regarding the development of a local public banking system in Ireland. At that time, the proposal was considered in detail by officials in my Department...

Written Answers — Department of Finance: Credit Union Lending (29 Sep 2016)

Michael Noonan: The agreed Programme for a Partnership Government recognises the potential role that credit unions can play in housing finance and supports the efforts of the Registrar of Credit Unions at the Central Bank to gradually lift current lending restrictions as appropriate, including for housing. The Programme further provides that it will investigate with all stakeholders how credit unions...

Written Answers — Department of Finance: Insurance Coverage (29 Sep 2016)

Michael Noonan: The provision of insurance cover is a commercial matter for insurance companies and is based on an assessment of the risks they are willing to accept and adequate provisioning to meet those risks.  Government policy in relation to flooding is focused on the development of a sustainable, planned and risk-based approach to dealing with flooding problems, with a view to...

Written Answers — Department of Finance: Credit Unions (29 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 45 and 72 together. In the Programme for Partnership Government, we stated that we will investigate with all stakeholders how credit unions can support the delivery of social housing. My Department has received a number of different proposals from the Irish League of Credit Unions (ILCU) and from the Credit Union Development Association...