Results 12,441-12,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions (27 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 65 and 82 together. The Commission on Credit Unions recommended that Part 3 of the Central Bank Reform Act 2010 be commenced for credit unions providing the Central Bank with the powers to set out the Regulations and Standards of Fitness and Probity for credit unions. On 24 September 2012, I made the necessary commencement order to give effect to this...

Written Answers — Department of Finance: Tax Rebates (27 Feb 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that according to Revenue records the person concerned did not pay income tax during 2013. However, Universal Social Charge (USC) was paid and, based on the information available a refund of USC is due. A PAYE Balancing Statement (P21) for 2013, including a USC review and refund will issue shortly to the person concerned. In addition, as the...

Written Answers — Department of Finance: VAT Exemptions (27 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. It would appear that first responders are trained in first aid, cardio pulmonary resuscitation (CPR), automated external defibrillator (AED) and the administration of oxygen.  The primary equipment needed for these...

Written Answers — Department of Finance: NAMA Operations (27 Feb 2014)

Michael Noonan: As I outlined in Question 197 of 21st January 2014, my Department's review of NAMA is on-going, it cannot be completed until the final C&AG report has been received. I expect my Department's review of NAMA to be completed in the coming months. In the context of this review, I have asked NAMA to evaluate their disposal timing and strategy in the context of current market demand and...

Written Answers — Department of Finance: State Bodies Mergers (27 Feb 2014)

Michael Noonan: In line with Government policy, it has been decided to amalgamate the Office of the Pensions Ombudsman and the Office of the Financial Services Ombudsman. Primary legislation will be required to effect this amalgamation. Both the Department of Social Protection and my Department will be involved in the preparatory work and in the drafting of the necessary legislation. A Steering Group...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (27 Feb 2014)

Michael Noonan: Under the Central Bank Act 1942, as amended, a consumer is not entitled to make a complaint to the Financial Services Ombudsman if the conduct complained of occurred more than six years before the complaint is made. A complaint to the Pensions Ombudsman may be made within three years of the complainant first becoming aware of the act giving rise to the complaint, even if this is...

Written Answers — Department of Finance: Tax Reliefs Availability (27 Feb 2014)

Michael Noonan: I am advised by Revenue that according to its calculations, approximately 577,000 policy holders, covering 1.1 million insured individuals, are likely to be affected by the restriction of tax relief on medical insurance, which was announced as part of Budget 2014. This figure equates to almost 53% of all policies. Revenue's calculations in this regard are based on its analysis of the...

Written Answers — Department of Finance: Cycle to Work Scheme Administration (27 Feb 2014)

Michael Noonan: I have no plans to amend the Cycle To Work Scheme in the manner suggested by the Deputy. Bicycles are normally covered as part of a general household insurance policy or some people may opt to have specific cover for it. If an insurance policy pays out for a bicycle then the stolen one may be replaced but the tax break may only be availed of once in a 5-year period.

Written Answers — Department of Finance: Tobacco Smuggling (27 Feb 2014)

Michael Noonan: I am advised by the Revenue Commissioners that combating the illegal tobacco trade is, and will continue to be, a high priority for them. Their work against this illegal activity includes a range of measures designed to identify and target those who are engaged in the supply or sale of illicit products, with a view to seizing the illicit products and prosecuting those responsible. This...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 74 to 76, inclusive, together. As the information requested by the Deputy is forward looking, I am not in a position to provide this given its commercial sensitivity. However the Deputy may be aware that both Bank of Ireland and Allied Irish Banks are due to announce their 2013 annual results next week while permanent tsb is scheduled to...

Written Answers — Department of Finance: Housing Issues (27 Feb 2014)

Michael Noonan: My Department continues to monitor developments in the housing market. As set out in the Medium-Term Economic Strategy, the Government will continue to work on addressing remaining challenges in the property and construction sectors. This will include developing an overall strategic approach to housing supply, identifying and implementing further improvements in the planning process to...

Written Answers — Department of Finance: Banking Sector Issues (27 Feb 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters. As commercial organisations both banks must manage their costs in a way that is reflective of their commercial activities. To that end both banks have...

Written Answers — Department of Finance: Banking Sector Remuneration (27 Feb 2014)

Michael Noonan: As the Deputy will be aware this Government's policy with respect to banking remuneration has been in place since mid-2011. In summary, remuneration in State supported banks is capped at €500,000 (excluding normal pension entitlements) and the payment of bonuses in any form is not permitted. I can also confirm for the Deputy that no policy changes are...

Written Answers — Department of Finance: Credit Ratings (27 Feb 2014)

Michael Noonan: Ireland's current  rating by the Rating Agencies is summarised in the table. Credit Rating Agency Long-Term rating, Outlook Grade Last action and date Moody's Baa3, Positive Investment One notch upgrade into investment grade and positive outlook 17 Jan 2014 Standard and Poor's BBB+, Positive Investment Positive Outlook 12 July 2013 Fitch Ratings BBB+, Stable...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (27 Feb 2014)

Michael Noonan: I am aware of the concerns of borrowers about the sale of the mortgage book as part of the liquidation of IBRC and in particular the concerns in relation to the Code of Conduct on Mortgage Arrears.  I have been advised by the Special Liquidators that the third party bidders who are bidding on the residential mortgage portfolios have confirmed that they will be directing...

Written Answers — Department of Finance: Mortgage Arrears Proposals (27 Feb 2014)

Michael Noonan: I wish to advise the Deputy that Bank of Ireland and AIB will announce their annual results for 2013 on the 3rd March and 5th March respectively. I have been informed by both banks that further detail in relation to their progress in dealing with mortgage arrears including the use of split mortgages will be contained in these financial statements.

Written Answers — Department of Finance: Mortgage Data (27 Feb 2014)

Michael Noonan: There is an obligation on the Special Liquidators to ensure that maximum value is extracted from the loan sales process for the benefit of all the creditors of IBRC including the State. The sales process plan and timeline for the sale of the residential mortgage portfolio has been developed following professional advice and in light of requirements for a robust and credible sales process in...

Written Answers — Department of Finance: NAMA Operations (27 Feb 2014)

Michael Noonan: As I outlined in Question No. 46 on the 22nd of January 2014, Section 227 of the NAMA Act 2009 requires me to complete a review of NAMA every 5 years. The purpose of the review is to assess the extent to which NAMA has made progress toward achieving its overall objectives, and decide whether continuation of NAMA is necessary having regard to the purposes of the Act. As part of this...

Allegations in relation to An Garda Síochána: Statements (26 Feb 2014)

Michael Noonan: It is okay. I am going.

Allegations in relation to An Garda Síochána: Statements (26 Feb 2014)

Michael Noonan: Was it discussed when Deputy Martin was in government?