Results 3,881-3,900 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Customs and Excise Controls (16 Jun 2016)

Michael Noonan: I am advised by Revenue that the total number of mobile x-ray scanners in operation by Customs Officers is currently three.  Two of these are mobile container scanning systems, while the third is a mobile baggage scanner.  The total number of mobile x-ray scanners is sufficient for current day-to-day operations but is kept under constant review. Revenue is currently in the process...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (16 Jun 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. The criteria to obtain a primary medical certificate to qualify for the Disabled...

Written Answers — Department of Finance: Loan Books Purchasers (16 Jun 2016)

Michael Noonan: The Deputy will be aware that the Consumer Protection (Regulation of Credit Servicing Firms) Act, 2015 was enacted on 8 July 2015. It was introduced to fill the consumer protection gap where loans were sold by the original lender to an unregulated entity. The 2015 Act introduced a regulatory regime for a new type of entity called a 'credit servicing firm'.  Credit Servicing Firms are now...

Written Answers — Department of Finance: Tax Collection Forecasts (16 Jun 2016)

Michael Noonan: I assume the Deputy is referring to the tax revenue forecast set out in the recent Stability Programme Update. As the Deputy will be aware, it was forecast in Budget 2016 that overall tax revenues for this year would grow by 5.8 per cent to approximately €47.2 billion and were profiled on that basis. As part of its earlier preparations for the Stability Programme Update, the 2016 tax...

Written Answers — Department of Finance: Tax Data (16 Jun 2016)

Michael Noonan: My officials are currently completing work on the Summer Economic Statement to be published shortly by the Government.  This Statement will reflect the tax and spending priorities set out in the Programme for a Partnership Government (PPG). As the Deputy is aware, in the PPG there is a commitment to ask the Oireachtas to continue to phase out the USC as part of a wider...

Written Answers — Department of Finance: Fiscal Policy (16 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 78 and 81 together. Ireland complies with the requirements of the Budgetary Frameworks Directive, which was adopted as part of the 'Six Pack' reforms of the Stability and Growth Pact in 2011. In line with these provisions, we have established a credible medium term budgetary framework that ensures our fiscal planning follows a multiannual perspective....

Written Answers — Department of Finance: GDP-GNP Levels (16 Jun 2016)

Michael Noonan: The Government will shortly be publishing the Summer Economic Statement. This will reflect the tax and spending priorities set out in the Programme for Partnership Government. The statement will reflect information on debt-to-gross domestic product ratio taking into account second round macro-economic and fiscal effects.

Written Answers — Department of Finance: Tax Data (16 Jun 2016)

Michael Noonan: The concentration risk regarding corporation tax receipts was examined as part of the Economic Impact Assessment of Ireland's Corporation Tax Policy, a significant piece of research that was commissioned and undertaken by my Department over the course of 2014, resulting in the publication of eight  reports as part of Budget 2015. Included in this research was the report...

Written Answers — Department of Finance: Stability and Growth Pact (16 Jun 2016)

Michael Noonan: As the Deputy will be aware, assessment of our compliance with the budgetary provisions of the preventive arm of the Stability and Growth Pact, is conducted with reference to two complementary pillars, namely the expenditure benchmark and our annual improvement in relation to the structural balance. These ensure we are at, or are on the adjustment path towards our medium term objective of a...

Written Answers — Department of Finance: Fiscal Policy (16 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 83 to 86, inclusive, together. My Department's macroeconomic forecasts, as published in the 2016 Stability Programme (SPU) in April, include a number of elements, principally estimates of demand in the economy, and also of the productive capacity, or supply side. The EU fiscal rules essentially seek to ensure sensible and sustainable budgetary...

Written Answers — Department of Finance: Corporation Tax (16 Jun 2016)

Michael Noonan: I am informed by Revenue that the number of registered companies is available at . It should be noted that this information reflects the total number of companies on record for the year irrespective of whether the company is trading and therefore obliged to file a Corporation Tax return for the year. The tables show, by range of tax liability, the number of companies with a Corporation Tax...

Written Answers — Department of Finance: Promissory Notes Negotiations (16 Jun 2016)

Michael Noonan: I assume the Deputy is referring to the bonds issued to the Central Bank of Ireland in February 2013 to replace the IBRC Promissory Notes which were extinguished as part of that transaction. The Central Bank of Ireland is independent in the exercise of its functions and the management of it's investment holdings are a matter for the bank themselves, neither I nor the...

Written Answers — Department of Finance: Motor Insurance (16 Jun 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I, nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products. The EU framework for insurance expressly prohibits Member States from adopting rules which require insurance companies to obtain prior approval of the pricing or...

Written Answers — Department of Finance: General Government Debt (16 Jun 2016)

Michael Noonan: General Government Debt (GGD) is a measure of the total gross consolidated debt of the State compiled by the Central Statistics Office (CSO) and is the measure used for comparative purposes across the European Union. The National Debt is the net debt incurred by the Exchequer after taking account of cash balances and other financial assets. Gross National Debt is the principal component of...

Written Answers — Department of Finance: Banking Sector Staff (16 Jun 2016)

Michael Noonan: Towards the end of last year the Central Bank initiated a review of tracker mortgage related issues across the industry. This review is ongoing and the Central Bank expects significant progress to be made by all lenders before the end of the year. AIB had initiated its own internal review a few months before the CBI announcement. This is a significant undertaking and AIB are treating this...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (16 Jun 2016)

Michael Noonan: As the Deputy may be aware Permanent tsb Group (PTSB) established a Mortgage Redress Programme (MRP) in July 2015 to remediate and compensate 1,372 mortgage customers who exited early from a fixed or discounted rate period and, as a result, lost their future entitlement to a tracker. In September 2015, PTSB established a dedicated Mortgage Product Review Group (MPRG) to review its...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (16 Jun 2016)

Michael Noonan: My Department does not have information on the number of staff that non-State owned banks employ directly or under contract who are solely or primarily working on resolving issues relating to the Central Bank investigation of its handling of tracker mortgages. However, the Central Bank has set out a Framework for conducting the Tracker Mortgage Examination and given its scale, I understand...

Written Answers — Department of Finance: Contingent Capital Notes (16 Jun 2016)

Michael Noonan: The only remaining Contingent Capital Note, or 'CoCo', was issued by the State to AIB in July 2011.  The AIB CoCo is scheduled to mature in July 2016 at which point the State will receive its final interest payment of €160 million, and a return of the full €1.6 billion of capital in cash. The State no longer owns Preference Shares in any of the Irish...

Written Answers — Department of Finance: Banking Operations (16 Jun 2016)

Michael Noonan: This is a regulatory matter for the Central Bank of Ireland and I am advised by the bank that it is prevented from discussing such matters. Its registers are available at registers.central.bank.ie. However, for information, the Central Bank has advised me that Ulster Bank Ireland Limited, a credit institution authorised in Ireland, has changed its name to Ulster Bank Ireland Designated...

Written Answers — Department of Finance: Mortgage Arrears Proposals (16 Jun 2016)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) applies to all regulated mortgage lenders and credit servicing firms operating in the State when dealing with borrowers facing or in mortgage arrears on their primary residence, including any mortgage lending activities outsourced by these firms. The CCMA provides a strong consumer protection framework to ensure that borrowers...