Results 3,901-3,920 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I am advised that an investigation was conducted by the Central Bank of Ireland (CBI) under its Administrative Sanctions Procedure (pursuant to Part IIIC of the Central Bank Act 1942 (as amended). Following this investigation the Central Bank determined that it had reasonable grounds to suspect that Irish Nationwide Building Society (INBS) had committed certain prescribed contraventions and...

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

Michael Noonan: In 2010, at the request of the Central Bank of Ireland, Joint Administrators were appointed by the High Court under the Insurance No. 2 Act 1983 to Quinn Insurance Limited (QIL) due to concerns of the solvency position of that firm.   The Court appointed officers from Grant Thornton as Joint Administrators to oversee the administration of the...

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

Michael Noonan: I have received the following comments on the deputy's question. AIB does not categorise loans to former directors separately. The bank does not differentiate between former directors and other customers in terms of customer treatment. While acknowledging that no two loans are the same, a consistent approach is applied to all customers, including former directors, in line with AIB's current...

Written Answers — Department of Finance: Stamp Duty (16 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 100 and 101 together. The information requested by the Deputy in relation to the yield from Stamp Duty on residential and commercial property, together with the number of transactions, is as set out in the following tables. It is not possible to separately identify commercial property from within the broader non-residential category. Residential Property ...

Written Answers — Department of Finance: VAT Yield (16 Jun 2016)

Michael Noonan: I am informed by Revenue that it is not possible to furnish precise figures of the amount of VAT collected from the residential housing sector as the information provided to Revenue on VAT returns does not require the yield from specific transactions or activities to be identified. However, based on housing completion data published by the Department of the Environment, Heritage and Local...

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

Michael Noonan: I am informed by Revenue that Life Assurance Exit Tax (LAET) applies to Assurance policies taken out from 1 January 2001 and is payable on the total or partial encashment of liable policies. It is also payable on each 8-year anniversary of the inception of the policy provided the policy has not been encashed in full. As a result of this an increasing proportion of policies fall within the...

Written Answers — Department of Finance: Film Industry Tax Reliefs (16 Jun 2016)

Michael Noonan: The Deputy will appreciate that film projects do not begin and end to coincide with calendar years, which means it is difficult to provide definitive figures for the number of jobs that the relief supported for any particular calendar year. Nevertheless, I am advised by the Revenue Commissioners that applications for relief were received in respect of 119 projects during the calendar years...

Written Answers — Department of Finance: Irish Strategic Investment Fund (16 Jun 2016)

Michael Noonan: The NTMA informs me that the Ireland Strategic Investment Fund (ISIF) did not participate in the financing of the Clerys department store transaction. In November 2015, some five months after the closure of Clerys department store, the ISIF announced that it and institutional clients of Quadrant, a US-based real estate investment manager, had committed up to €100 million to...

Written Answers — Department of Finance: Mortgage Interest Relief Eligibility (16 Jun 2016)

Michael Noonan: Section 244 of the Taxes Consolidation Act 1997 provides for tax relief in respect of interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012, with relief being available until 31 December 2017.  Any mortgage account which is currently in receipt of mortgage interest relief (MIR) will continue to be entitled to the relief up to...

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

Michael Noonan: I am informed by the Central Bank of Ireland that the total amount reported by insurance companies to the Central Bank, as having been paid out on motor insurance claims for each of the years 2011 to 2014 are outlined in the following table. Information reported to the Central Bank is published annually in the Insurance Statistical Review and this is available in the Publications section of...

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

Michael Noonan: Anglo Irish Bank was nationalised on 15 January 2009 and on that date the Minister for Finance acquired all of the ordinary and preference share capital by virtue of the provisions of the Anglo Irish Bank Act 2009. Therefore, as of that date, the ownership of the shares in Anglo Irish Bank would have transferred to the Minister for Finance. If the Government had not nationalised Anglo Irish...

Written Answers — Department of Finance: Departmental Properties (16 Jun 2016)

Michael Noonan: In response to the Deputy's question, I am advised that the Department of Finance has no such lease arrangements in place. In relation to properties leased by bodies under the aegis of my Department, the relevant bodies have provided information on the numbers leased on upward-only rents, the number of lessors who were involved with the National Asset Management Agency or with the State...

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: I am pleased to attend the select committee and to help re-engineer the engagement between the Government and the Oireachtas, on fiscal policy in general and on the budget in particular. I am sure that the outcome of the committee's work will be a major improvement on the status quoresulting in better fiscal policy decisions and better outcomes for the State. I, together with the Minister,...

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: First, by way of background, starting from today, the first opportunity that the Dáil will have to discuss the budget will be next week because we are hoping to publish the summer economic statement after the Cabinet meeting on Tuesday. I understand that it is going into the Dáil on Thursday so there will be a Second Stage-type debate on that and all of the basic data, to date,...

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: I would prefer the Minister for Public Expenditure and Reform to deal with that issue. The only expenditure function I have as Minister for Finance is to set the overall expenditure ceiling. That is my legal function and the Minister for Public Expenditure and Reform has to allocate moneys within that ceiling. He has the responsibility for the Estimates campaign with individual Departments...

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: First, we have to operate within the Constitution. As Minister for Finance I have to make the budgetary arrangements in accordance with the Constitution. I have no discretion in moving away from that. As we all know, to change the constitutional provisions we would need a referendum but there is no proposal before us in that regard. I have a legal note here and can read it if the...

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: Yes.

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: All right, we will make a copy available.

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: In the absence of any alternative proposal which would make sense, I do but I am always open to hearing alternative proposals.

Committee on Arrangements for Budgetary Scrutiny: Engagement with Minister for Finance and Minister for Public Expenditure and Reform (15 Jun 2016)

Michael Noonan: The tax strategy papers are very detailed. If the Deputy wants to get a flavour of what they are like, the previous tax strategy papers are online. If the Deputy wants an insight he should look at last year's set which were published after the budget. This year we will publish them in July so that members will have access to the information on which the Government will make its decisions...