Results 7,601-7,620 of 27,019 for speaker:Michael Noonan

Spring Economic Statement (28 Apr 2015)

Michael Noonan: -----deliver better public services to the Irish people. Economic recovery provides us with the platform upon which to build for a future of economic growth, job creation and increased living standards. A Cheann Comhairle, we must never again repeat the mistakes that left Ireland on the verge of bankruptcy in 2010 and resulted in a lost decade and such hardship in the lives of so many...

Spring Economic Statement (28 Apr 2015)

Michael Noonan: This is another reason why stable, steady economic growth combined with prudent budgetary policy is the way forward. The value of our investment in AIB, Bank of Ireland and Permanent TSB continues to rise. It is not the State's intention to remain a holder of its banking investments in the long term. The exit strategy is about recovering the full cost of the taxpayers' investment in...

Spring Economic Statement (28 Apr 2015)

Michael Noonan: This is unlike the €34 billion the Fianna Fáil-Green Party Government put into Anglo Irish Bank. The forecasts for further budgets are contingent on continued sensible economic and budgetary policies being pursued. Prudent policies support growth and job creation and generate the taxes and the fiscal space for further investment in the economy. The scale of the fiscal space...

Spring Economic Statement (28 Apr 2015)

Michael Noonan: Fiscal space of the order of €1.2 billion and up to €1.5 billion will be available for tax reductions and investment in public services. The final scale of the space will become clearer closer to the budget. The partners in Government have also agreed that the agreed space will be split 50:50 between tax cuts and expenditure increases.

Spring Economic Statement (28 Apr 2015)

Michael Noonan: The actual measures will be announced in budget 2016. The tables in the spring statement are based on a general split of €1.2 billion, but I expect that by October's budget this will be €1.5 billion. Current indications are that a similar amount of space will be available in later years while still ensuring the achievement of a balanced budget before the end of the decade. ...

Spring Economic Statement (28 Apr 2015)

Michael Noonan: Since taking office in 2011, the Government has been determined to fulfil the mandate given to us by the people, to repair the economy and public finances, to create jobs and to give hope and confidence to our citizens of a better future. The scale of the economic crisis that we have gone through has been unprecedented in Ireland’s history. We have essentially lost a decade in terms...

Written Answers — Department of Finance: Property Tax Exemptions (28 Apr 2015)

Michael Noonan: I have previously dealt with this particular case in Parliamentary Question 12948 of 2015. As previously stated, Revenue has an obligation to act in accordance with section 10A of the Finance (Local Property Tax) Act 2012 (as amended) which requires that a Local Property Tax (LPT) exemption can only apply to properties that have been certified under Regulations made by the Minister for...

Written Answers — Department of Finance: Mortgage Debt (28 Apr 2015)

Michael Noonan: I understand that my colleague, the Tánaiste and Minister for Social Protection, Ms. Joan Burton, TD will separately address the part of the question that relates to the Money Advice and Budgeting Service as funding for the service falls into her area of functional responsibility.    As the Deputy is aware, the Government has put in place a broad strategy to address...

Written Answers — Department of Finance: Revenue Commissioners Staff (28 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that no conflict of interest arises as a result of the roles performed by an Assistant Secretary within the Revenue Commissioner's Office, one being the Revenue Solicitor/Assistant Secretary in the Revenue Solicitor's Division and the other being the Assistant Secretary and Head of the Investigations and Prosecutions Division. The Revenue...

Written Answers — Department of Finance: Loan Books Purchasers (28 Apr 2015)

Michael Noonan: I am not in a position to give legal advice to individuals. My role as Minister for Finance is to put in place an appropriate legislative framework for the regulation of the financial services sector. The Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 will deal with situations where loan books are sold. The Bill will require entities dealing with the consumer to be...

Written Answers — Department of Finance: Tax Yield (28 Apr 2015)

Michael Noonan: The legislation governing the operation of appropriate tax on interest earned on deposits held in the State, referred to as Deposit Interest Retention Tax (DIRT), is set out in Chapters 4 and 5 of Part 8 of the Taxes Consolidation Act 1997. The current rate of DIRT is 41%. DIRT has been charged at 41% from the 1st January 2014 and is deducted at source by deposit takers (e.g. banks, building...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (28 Apr 2015)

Michael Noonan: As the Deputy will be aware, the Home Renovation Incentive (HRI) was introduced in Budget 2014 and will run until the end of December this year. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. In the recent Budget I extended...

Written Answers — Department of Finance: Financial Services Regulation (28 Apr 2015)

Michael Noonan: I am informed by the Central Bank that section 126 of the Consumer Credit Act 1995 (as amended) (the CCA) relates to the requirements on lenders and borrowers in relation to mortgage protection insurance.  Lenders are obliged by virtue of Section 126 of the CCA to ensure that a life assurance policy is in place before making a housing loan, such that, in the event of the death of a...

Written Answers — Department of Finance: Tax Code (28 Apr 2015)

Michael Noonan: I am advised by the Revenue Commissioners that there is no special regime of capital allowances for fodder units. An annual allowance (known as a 'wear and tear allowance') is available for capital expenditure incurred on the provision of plant and machinery for the purposes of a trade. Therefore, capital expenditure incurred on the provision of a fodder unit for the purposes of a trade...

Written Answers — Department of Finance: Tax Code (28 Apr 2015)

Michael Noonan: Credit Cards The stamp duty payable is €30 per year per credit card account. Where a credit card is held for any part of a year, the charge is still €30. Stamp duty of €30 is chargeable in respect of each credit card account, maintained by a financial institution at any time during the twelve month period ending on 1 April, referred to as the year of charge. Stamp duty...

Written Answers — Department of Finance: Banking Sector (28 Apr 2015)

Michael Noonan: I can confirm for the Deputy that in my capacity as Minister for Finance, I have directed the ISIF as holder of the State's bank shareholdings to vote on each of the resolutions to be put to the AGMs of both Allied Irish Banks and Bank of Ireland. However it would not be appropriate for me to comment on how I have voted until these AGMs take place and the results of the voting process...

Written Answers — Department of Finance: Mortgage Debt (28 Apr 2015)

Michael Noonan: I have been informed by Permanent TSB that this relates to the situation of certain mortgage customers of the bank and their right to avail of a mortgage tracker product from the bank in circumstances where they broke early from a fixed rate tracker period.   Earlier this year the bank confirmed that it would be withdrawing appeals it had submitted to the Supreme Court in...

Written Answers — Department of Finance: Freedom of Information (28 Apr 2015)

Michael Noonan: I believe the Deputy is referring to documents released under a Freedom of Information Act request made by another member of the public for correspondence, reports and memos regarding the company referred to in the question, which were made available to the Deputy in fulfilment of my commitment to do so in response to Parliamentary Question number 12628/15. There were...

Written Answers — Department of Finance: IBRC Operations (28 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 123 and 133 together. In terms of transactions involving IBRC in which my Department had concerns over, I would like to draw the Deputy's attention towards the Department of Finance website where documents released under a recent FOI have been published. On page 7 of the document titled '8. Briefing ahead of 25 July meeting', there is a table containing...

Written Answers — Department of Finance: IBRC Operations (28 Apr 2015)

Michael Noonan: I would like to draw the Deputy's attention towards the Department of Finance website where documents released under a recent FOI have been published at . On page 7 of the document titled '8. Briefing ahead of 25 July meeting', there is a table containing six matters of concern at that time. As reflected in the documents released under FOI, there were concerns regarding a...