Results 1,241-1,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Brexit Issues (7 Feb 2017)

Michael Noonan: Taxation is a sovereign Member State competence and decisions at Council on tax matters require unanimity. Ireland's sovereignty on tax matters is not affected by Brexit and this sovereignty is guaranteed by the EU Treaties.

Written Answers — Department of Finance: Fiscal Data (7 Feb 2017)

Michael Noonan: Ensuring the plausibility of estimates of potential growth is a key priority given their significance in the application of the fiscal rules. As previously noted by both my own Department and the Fiscal Advisory Council, the harmonised methodology for estimating potential output is subject to limitations particularly when applied to Ireland. My Department continues to assess the merit of...

Written Answers — Department of Finance: Corporation Tax (7 Feb 2017)

Michael Noonan: Taxation is a sovereign Member State competence and decisions at Council on tax matters require unanimity. Ireland's sovereignty on tax matters is not affected by Brexit and this sovereignty is guaranteed by the EU Treaties. 

Written Answers — Department of Finance: Insurance Coverage (7 Feb 2017)

Michael Noonan: I am conscious of the difficulties that the absence of flood cover can cause to householders and businesses alike.  However, you should be aware that the provision  of insurance is a commercial matter for insurance companies, which has to be based on a proper assessment of the risks they are accepting. This assessment will in relation to coastal...

Written Answers — Department of Finance: NAMA Assets Sale (7 Feb 2017)

Michael Noonan: The Deputy will be aware that I, as Minister for Finance, have no role in respect of sales by NAMA debtors or receivers or the sale of loans directly by NAMA. As the Deputy will also appreciate, these are matters for the NAMA Board in accordance with its statutory independent commercial mandate. Under Section 12 of the NAMA Act 2009, NAMA may "sell or dispose of the whole or any part...

Written Answers — Department of Finance: Vehicle Registration (7 Feb 2017)

Michael Noonan: I am advised by Revenue that the specification for the identification mark (the "registration plate") that must be displayed on vehicles is contained in the Vehicle Registration and Taxation Regulations, 1992 (S.I. No. 318 of 1992). These Regulations do not permit the application of special arrangements in relation to the registration plate to be used on coaches or any other category of...

Written Answers — Department of Finance: Energy Prices (7 Feb 2017)

Michael Noonan: I should clarify initially that my Department has no statutory function in the monitoring or setting of gas or electricity prices. Responsibility for the regulation of the electricity and gas markets is a matter for the Commission for Energy Regulation (CER), which is an independent statutory body. However, my Department does monitor and advise on all developments that can impact on the...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 159 to 162, inclusive, together. The Deputy may be aware that a two-stage process is employed for the Help to Buy incentive, under which individuals submit an application for the incentive to receive an indication of the level of tax relief that may be available to them, and subsequently submit a claim for a tax refund. This refund is generally payable...

Written Answers — Department of Finance: Credit Unions (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 163 and 164 together. One recommendation of the Credit Union Advisory Committee (CUAC) in the Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) was that an Implementation Group be established for a specified period of time to oversee and monitor implementation of those recommendations in a...

Written Answers — Department of Finance: Credit Union Lending (7 Feb 2017)

Michael Noonan: On 1 January 2016 I commenced the final sections of the Credit Union and Co-operation with Overseas Regulators Act 2012 (2012 Act) following discussions with credit union representative bodies. The 2012 Act was the first credit union specific legislation introduced in 15 years and was implemented in a coherent manner over three years to enable credit unions embed the...

Written Answers — Department of Finance: Bank Codes of Conduct (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 166 and 176 together. Deputies will be aware that there are substantial protections in place for customers in the event that a loan is sold from the original provider to a third party. The Consumer Protection (Regulation of Credit Servicing Firms) Act 2015 was enacted in July 2015 and is designed to protect borrowers in this situation....

Written Answers — Department of Finance: State Banking Sector (7 Feb 2017)

Michael Noonan: The State's shareholding in AIB is held in the ISIF's (Ireland Strategic Investment Fund) directed portfolio. In order to take any action in relation to the State's shareholding in AIB I would write to the ISIF and direct it accordingly. To complete the repair of the banking system and ensure that banks are supporting the wider public interest, the Program for a...

Written Answers — Department of Finance: Legal Proceedings (7 Feb 2017)

Michael Noonan: As the Deputy is aware, the Relationship Framework Agreements define the arm's-length nature of the relationship between the State and the banks in which the State has an investment, and any commercial decisions, including initiating legal action where it is deemed necessary, is decision exclusively for the management and board of each institution. In response to the Deputy's...

Written Answers — Department of Finance: Banking Operations (7 Feb 2017)

Michael Noonan: The information requested by the Deputy is not available within the Department of Finance. As the Deputy is aware, the Relationship Framework agreements define the arm's-length nature of the relationship between the State and the banks in which the State has an investment, and as such each bank is individually and independently responsible for managing their stock of...

Written Answers — Department of Finance: Mortgage Lending (7 Feb 2017)

Michael Noonan: The Central Bank of Ireland is aware of the Motion on tracker mortgages which was carried in Dáil Éireann on 26 January last. The Tracker Mortgage Examination is the most significant supervisory review undertaken in the context of the Central Bank's consumer protection remit. In line with its mandate to ensure that the best interests of consumers are protected, the Central...

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: I am advised by Revenue that the person concerned is non-resident but is chargeable to tax on income in the State. In the case of a couple where both spouses are non-resident but one spouse has income chargeable to tax in the State, that spouse is chargeable to Irish Tax on the basis of separate treatment as a single person. Where the other non-resident spouse has income outside the...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (7 Feb 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the matter in the case of the person concerned relates to that of a self-build property and whether the building in question meets the definition of qualifying residence for the purposes of the Help To Buy scheme. Section 477C(1) of the Taxes Consolidation Act 1997 defines a qualifying residence as:- - a new building which was not, at any time,...

Written Answers — Department of Finance: Banking Sector Regulation (7 Feb 2017)

Michael Noonan: As the Deputy will be aware, the European Commission (Directorate-General for Competition) is in charge of ensuring that State aid complies with EU rules. However, I am aware that RBS did receive State aid from the British Government. This aid, which required a significant restructuring of RBS, was approved by the European Commission in December 2009. In its approval the Commission...

Written Answers — Department of Finance: Mortgage Insurance (7 Feb 2017)

Michael Noonan: I believe the Deputy is referring to credit card payment protection insurance.  In that context, I have been advised by the Central Bank that Payment Protection Insurance (PPI) is an insurance policy that covers the monthly debt repayment, for a limited period, on a lending product in the event that the borrower loses income.  PPI policies vary depending on the seller, the insured...

Written Answers — Department of Finance: Corporation Tax Regime (7 Feb 2017)

Michael Noonan: Taxation is a sovereign Member State competence and decisions at Council require unanimity.  Ireland's sovereignty on tax matters is not affected by Brexit and therefore there have been no discussions at EU level around the impact Brexit will have on Ireland's corporation tax.