Results 3,041-3,060 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: House Prices (29 Sep 2016)

Michael Noonan: A key priority for this Government is to develop a fully functioning housing market that responds adequately to the needs of our citizens. To this end the Deputy will be aware that the Government launched 'Rebuilding Ireland - The Action Plan for Housing and Homelessness' last July. Implementation of the plan is being led by the Minister Coveney at the Department for Housing,...

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

Michael Noonan: The qualifying criteria in respect of the exemption from Local Property Tax (LPT) on foot of significant pyritic damage was modified by the Finance (Local Property Tax) (Amendment) Act 2015. The modifications were introduced by me on foot of recommendations made by Dr. Don Thornhill following a review of LPT in 2015. The revised criteria includes properties where; 1. a certificate of damage...

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

Michael Noonan: I would remind the Deputy 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: I propose to take Questions Nos. 87 to 89, inclusive, together. 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...

Written Answers — Department of Finance: Budget 2017 (29 Sep 2016)

Michael Noonan: Significant progress have been made in returning the public finances to a sustainable footing. Last year, the underlying deficit was reduced to 1 per cent of GDP, thereby facilitating Ireland's successful exit from the excessive deficit procedure. It is important that the public finances are maintained in a sustainable position. In this regard, our new fiscal anchor is to achieve a...

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

Michael Noonan: Significant progress has been made in recent years in improving Ireland's competitiveness. The latest figures from the Central Bank of Ireland, show that Ireland's real harmonised competitiveness indicator (a widely used measure of competitiveness in Europe) has improved by over 20 per cent since 2008. The gains in Irish competitiveness achieved since 2008 have been hard-won through...

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

Michael Noonan: A healthy and commercially sustainable banking system that is in a position to provide mortgage and other credit to customers while also being resilient to economic and financial market shocks is important for Ireland's economy. In relation to the market for residential mortgage credit, it should also be borne in mind that this market has a number of diverse aspects and...

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

Michael Noonan: Recent indicators have generally been positive, indicating that the economic recovery is continuing in a sustainable manner.   GDP grew by 4.1 per cent in the second quarter of this year on an annual basis. This follows on from annual growth of 3.9 per cent in the first quarter. Importantly, economic activity is now more balanced between domestic and external sources of growth....

Written Answers — Department of Finance: Banking Sector Regulation (29 Sep 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation which includes transposing into Irish law certain European Directives and Regulations. This legal framework provides for Irish and EU consumer protections when a consumer takes out a loan from a regulated lender ("the original lender").If that loan is...

Written Answers — Department of Finance: Banking Operations (29 Sep 2016)

Michael Noonan: The Deputy will be aware that in my role as Minister for Finance I have no direct function in the relationship between the banks and their customers. I have no statutory function in relation to the banking decisions made by individual lending institutions at any particular time and these are taken by the board and management of the relevant institution. This includes decisions in relation...

Written Answers — Department of Finance: House Prices (29 Sep 2016)

Michael Noonan: According to the Central Statistics Office's Residential Property Price Index, national property prices increased by 2.5 per cent between June and July and by 6.7 per cent on an annual basis. This overall trend has been driven by price developments outside of Dublin, where residential property prices have increased by 3.5 per cent over the month and by 11.3 per cent on an annual basis. In...

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

Michael Noonan: I propose to take Questions Nos. 97 to 99, inclusive, together. In relation to Question No. 97, 28024/16, I am advised by Revenue that the Local Property Tax (LPT) is forecast to collect €440 million in 2017. In relation to Question No. 98, 28025/16, I am further advised by Revenue that the estimated additional yield from introducing an additional charge of €600 per property on...

Written Answers — Department of Finance: Universal Social Charge (29 Sep 2016)

Michael Noonan: I propose to take Questions Nos. 100 and 103 together. I am advised by the Revenue Commissioners that the estimated first and full year cost to the Exchequer of implementing the USC measures suggested by the Deputy is in the order of €2,035 million and €2,373 million respectively. In developing these estimates, it was assumed that no USC would be paid on the first...

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

Michael Noonan: The Summer Economic Statement (SES), published by my Department in June of this year projected, in Table A2, that the net fiscal space available for 2017 would be around €1 billion. The reference rates and convergence margins used for this estimate were set by the European Commission in their Spring forecast in May and will not change. However...

Written Answers — Department of Finance: Tax Collection Forecasts (29 Sep 2016)

Michael Noonan: The position is that an Exchequer tax revenue forecast of €47.2 billion was projected in Budget 2016.  However, as the Deputy will be aware, this forecast was revised up to €48.1 billion, which represents a €900 million increase, in the Summer Economic Statement (SES).At end-August 2016, Exchequer tax revenues were €449 million above the Budget day forecast....

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

Michael Noonan: There is currently no statistical basis for Revenue to compile estimates in relation to a potential wealth tax. Although an individual's assets and liabilities are declared to the Revenue in a number of specific circumstances (for example, after a death), this information is not a complete measure of financial assets in the State, nor is it recorded in a manner that would allow analysis of...

Written Answers — Department of Finance: Tax Reliefs Data (29 Sep 2016)

Michael Noonan: I am advised by Revenue that the pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at . In relation to the Deputy's question, this Ready Reckoner shows a wide range of detailed information, including the estimated cost or yield from changing the ceiling on the annual earnings limit for determining maximum allowable contributions for pension purposes.

Written Answers — Department of Finance: Pensions Data (29 Sep 2016)

Michael Noonan: The Standard Fund Threshold is the maximum allowable pension fund on retirement for tax purposes which was introduced in Budget and Finance Act 2006 to prevent over-funding of pensions through tax-relieved arrangements.  Information on the numbers and values of individual pension funds or on individual accrued benefits in pension schemes are not generally required to be...

Written Answers — Department of Finance: Disabled Drivers Grant Applications (28 Sep 2016)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT (up to a certain limit) on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Tax Code (28 Sep 2016)

Michael Noonan: The Programme for a Partnership Government commits to the introduction of a tax on sugar-sweetened drinks (SSDs).  The tax will contribute towards important public health goals, as well providing a new source of revenue for public spending. The Department of Health has also supported the introduction of a tax on SSDs in order to reduce added-sugar in diets, particularly...