Results 10,141-10,160 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Growth (2 Oct 2014)

Michael Noonan: The pace of economic growth in the euro area stalled in the second quarter of this year. The objective is now to boost the pace of economic growth and to increase the rate of inflation, which is currently excessively low. There are a number of dimensions to this. Firstly, the European Central Bank has adopted a loose monetary policy stance, designed to raise economic activity and reduce...

Written Answers — Department of Finance: EU State Aid Negotiations (2 Oct 2014)

Michael Noonan: The purpose of State Aid control is to ensure that State intervention does not interfere with the smooth functioning of the internal EU market or harm the competitiveness of EU undertakings.  It does not seek to encourage or discourage foreign direct investment into the EU or Eurozone, but rather to remove distortions to competition between EU Member States. State Aid policies are an...

Written Answers — Department of Finance: Departmental Strategies (2 Oct 2014)

Michael Noonan: The Government recognises that recent price and rent developments in the housing market reflect the interaction of a recovery in the economy and in employment and a shortage of supply of new housing, particularly in Dublin and some other urban areas. These issues are being addressed under the Construction 2020 Strategy: A Strategy for A Renewed Construction Sector. The Deputy should be...

Written Answers — Department of Finance: Budget 2015 (2 Oct 2014)

Michael Noonan: It is not my practice to comment on what measures may or may not be introduced in advance of the budget.

Written Answers — Department of Finance: National Debt (2 Oct 2014)

Michael Noonan: There have been a number of improvements to the terms our EU-IMF Programme loans since they were initially agreed in late 2010. These changes have included reductions of the interest rates and, in the case of the EU facilities, extension of maturities. We have also negotiated the replacement of the Promissory Notes issued to the Irish Bank Resolution Corporation (IBRC) with a series of longer...

Written Answers — Department of Finance: Banking Sector Regulation (2 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 80 and 81 together. Some of the companies that purchased loan books from lending institutions in Ireland are regulated entities and are therefore regulated by the Central Bank of Ireland. As statutory regulator of credit institutions, the Central Bank has the power, from both a prudential and consumer protection perspective, to require banks to meaningfully...

Written Answers — Department of Finance: Credit Availability (2 Oct 2014)

Michael Noonan: The Government recognises that small 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. My Department has been involved in a range of initiatives to encourage access to credit for...

Written Answers — Department of Finance: House Prices (2 Oct 2014)

Michael Noonan: The most recent Residential Property Price Index for August 2014 published by the Central Statistics Office indicates that national residential property prices increased by 2.3 per cent between July and August and by 14.9 per cent on an annual basis. Prices in Dublin increased 3.5 per cent over the month to August and were up 25.1 per cent in year-on-year terms. Outside of Dublin the rate of...

Written Answers — Department of Finance: Insurance Industry Regulation (2 Oct 2014)

Michael Noonan: I am aware of the difficulties that the liquidation of Setanta Insurance Company Limited has caused for Setanta policyholders and those claiming compensation under Setanta insurance policies. My Department and the Central Bank will in due course be reviewing the overall circumstances relating to Setanta and will report to me on what lessons can be learned and how the framework...

European Stability Mechanism (Amendment) Bill 2014: Referral to Select Committee (1 Oct 2014)

Michael Noonan: I move:That the Bill be referred to the Select Sub-Committee on Finance pursuant to Standing Orders 82A(3)(a) and (6)(a) and 126(1) of the Standing Orders relative to Public Business.

European Stability Mechanism (Amendment) Bill 2014: Order for Second Stage (1 Oct 2014)

Michael Noonan: I move: "That Second Stage be taken now."

European Stability Mechanism (Amendment) Bill 2014: Second Stage (1 Oct 2014)

Michael Noonan: I move: "That the Bill be now read a Second Time." The purpose of this legislation is to make provision for the inclusion by the ESM board of governors, in accordance with Article 19 of the ESM treaty, of the ESM's direct recapitalisation instrument as one of the financial instruments envisaged under Articles 14 to 18, inclusive, of the treaty. This includes provision for the creation of...

Written Answers — Department of Finance: Tax Code (1 Oct 2014)

Michael Noonan: With regard to reducing the VAT rate applicable to Irish dancing, the VAT Directive does not allow for the application of a reduced VAT rate to dance lessons in general. The Deputy refers to cultural activities.  Paragraph 5(2) of Schedule 1 of the VAT Consolidation Act provides for an exemption for cultural services provided by recognised cultural bodies but Irish dance lessons are...

Written Answers — Department of Finance: Property Taxation Collection (1 Oct 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected in 2013 and 2014 were published in July 2014 on the Commissioners' website at: I am also advised that the Commissioners do not break the LPT statistics down to postal...

Written Answers — Department of Finance: Departmental Budgets (1 Oct 2014)

Michael Noonan: The information requested by the Deputy for all years up to and including 2013 is available in the published Appropriation Accounts for the Vote on the website of the Comptroller & Auditor General. The information in relation to 2014 is outlined in the table below: Department of Finance 2014 Allocated budget (to 29/9/14) Outturn (29/9/14) Subhead €000 €000 A(i)...

Written Answers — Department of Finance: Universal Social Charge Application (1 Oct 2014)

Michael Noonan: I propose to take Questions Nos. 65 to 67, inclusive, together. I am informed by the Revenue Commissioners that the estimated number and percentage of income earners that pay the Universal Social Charge (USC), with reference to 2015 incomes, is as set out in the following table.  USC Rate Number of Taxpayer Units % of Income Earners Exempt 561,500 24 4% 230,600 10 7% 1,549,000 66...

Written Answers — Department of Finance: Employment Investment Incentive Scheme (30 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the available information regarding the Employment and Investment Incentive (EII) is as set out in the table below for the years 2012 and 2013 (the latest years available). Year Amount Invested €m Companies Benefitting Tax Cost €m 2012 13.4 78 4 2013 41.5 186 12.4 Data in relation to the number of jobs supported should...

Written Answers — Department of Finance: Seed Capital Scheme (30 Sep 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the available information regarding the Seed Capital Scheme is as set out in the table. There are no figures available in relation to the number of jobs created. Year Amount Invested €m Cost to Exchequer €m Companies Investors 1993/94 0.5 0.2 5 8 1994/95 2.2 0.9 39 48 1995/96 2.1 0.8 39 41 1996/97 5.3 2.1 64 92 1997/98 3.9...

Written Answers — Department of Finance: Tax Reliefs Application (30 Sep 2014)

Michael Noonan: The rate of capital gains tax (CGT) is currently 33% and has been increased four times since 2008. These increases were necessary to protect the yield from CGT in the context of the rebalancing of the public finances. An increase in the taxation of capital is preferable from the point of view of its impact on the economy as compared to an increase in employment taxes such as income...

Written Answers — Department of Finance: Budget 2015 (30 Sep 2014)

Michael Noonan: The Deputy will be aware that it is not the practice of the Minister for Finance to comment in advance on matters related to the Budget. However I can advise him that the review to which he refers will be published around Budget Day. The annual filing date for self-assessed income taxpayers is currently the 31 October. Taxpayers who file their returns and also make their...