Results 1,521-1,540 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Mortgage Lending (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 85 and 298 together. The Central Bank announced the outcome of its review of the residential mortgage lending macro prudential measures on 23 November 2016.  As part of the review process, the Central Bank initiated a public call for "evidence based submissions".  The Department of Finance engaged in this process and...

Written Answers — Department of Finance: Help-To-Buy Scheme (17 Jan 2017)

Michael Noonan: As the Deputy will be aware, the 'Help to Buy' incentive was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for Housing and Homelessness'. This plan contains a significant volume of responses to the current housing crisis, of which the Help to Buy incentive is one.  This comprehensive Action Plan takes a holistic approach in addressing the many...

Written Answers — Department of Finance: Credit Union Lending (17 Jan 2017)

Michael Noonan: I am pleased that the credit union sector is considering various proposals to increase its income and develop its business model. My Department has received a number of such proposals from both the Irish League of Credit Unions and from the Credit Union Development Association.  Proposals from both representative bodies, in relation to the funding of social housing, are...

Written Answers — Department of Finance: Motor Insurance (17 Jan 2017)

Michael Noonan: The Report of the Cost of Insurance Working Group chaired by Minister Eoghan Murphy was approved by Government on 10 January 2017. The Report contains 33 recommendations and 71 actions in an Action Plan, and covers six main themes: - Protecting the consumer - Improving data availability - Improving the personal injuries claims environment - Reducing the costs in the claims process...

Written Answers — Department of Finance: Fiscal Policy (17 Jan 2017)

Michael Noonan: I am assuming the Deputy is referring to the draft Council recommendation on the economic policy of the euro area (COM(2016) 726 final) proposed by the European Commission on the 16th of November 2016.  This recommendation is addressed to the euro area rather than the EU28. For the euro area as a whole, the Commission suggested that, in order to...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Proposals (17 Jan 2017)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base was published in October and discussed at the November ECOFIN meeting at which both Commissioner Moscovici and I were present. During the discussion, which was held in public session, a number of my fellow Ministers gave some initial impressions of the proposal. At the December ECOFIN, Council Conclusions...

Written Answers — Department of Finance: EU Funding (17 Jan 2017)

Michael Noonan: I can inform the Deputy that, following several months of negotiations between the Member States with input from both the European Commission and the European Investment Bank, an agreement was reached at the European Council on 12th December 2016 on Council's position regarding the extension of the European Fund for Strategic Investments (EFSI).  The agreement reached was...

Written Answers — Department of Finance: Tax Reliefs Application (17 Jan 2017)

Michael Noonan: Rented residential relief, referred to as Section 23 relief, is available to a person who has incurred expenditure on the purchase, construction, conversion or refurbishment of a qualifying property and who lets that property under a qualifying lease, having complied with certain conditions. Relief for expenditure incurred can be set against the rent received from that property and other...

Written Answers — Department of Finance: Fuel Laundering (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 214, 221 and 304 together. I am advised by the Revenue Commissioners that the number of oil laundries detected and closed down in the period from 2012 to 2016 was 23.  Operations varied in size from basic to sophisticated.  Details of those detections, arrests and the stage these cases are at are set out in the table below. Year Cavan Louth Meath...

Written Answers — Department of Finance: Tax Reliefs Availability (17 Jan 2017)

Michael Noonan: I am advised by the Revenue Commissioners that the Drivers & Passengers with Disabilities Scheme provides a range of tax reliefs linked to the purchase and use of specially constructed or adapted cars for the transport of persons with disabilities.  The scheme is available to persons (including children) who meet specified medical criteria and have obtained a Primary Medical...

Written Answers — Department of Finance: Insurance Industry (17 Jan 2017)

Michael Noonan: Setanta was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. Setanta is a Maltese incorporated company and therefore, the Setanta liquidation is being carried out under Maltese law.  As of 31 December 2016, the number of open claims is 1,664. The Department of Finance continue to liaise with the liquidator. Progress in the liquidation has...

Written Answers — Department of Finance: Help-To-Buy Scheme Administration (17 Jan 2017)

Michael Noonan: The Government is conscious that there is currently a shortage of housing and of the particular challenges faced by first-time buyers in obtaining the deposit required to purchase a home, given the Central Bank's macro prudential rules. As the Deputy will be aware, the 'Help to Buy' initiative was initially announced on 19 July 2016 as part of 'Rebuilding Ireland: Action Plan for...

Written Answers — Department of Finance: Universal Social Charge Application (17 Jan 2017)

Michael Noonan: I am advised by Revenue that, based on the information available to them, the person concerned is not liable to pay USC and has been deemed exempt by Revenue.  If the person concerned had USC deducted in 2016, then on receipt of his P60 for 2016 he should request a review for 2016 by accessing Revenue's on line service at and any USC deducted can be refunded to him. 

Written Answers — Department of Finance: Universal Social Charge Application (17 Jan 2017)

Michael Noonan: I am advised by Revenue that, based on the information available to them, the person concerned is not liable to pay USC and has been deemed exempt by Revenue.  If the person concerned had USC deducted in 2016, then on receipt of his P60 for 2016 he should request a review for 2016, by accessing Revenue's on line service at www.revenue.ie and any USC deducted can be refunded to him. 

Written Answers — Department of Finance: Universal Social Charge Payments (17 Jan 2017)

Michael Noonan: I am advised by Revenue that the person concerned is due a refund of USC for the years 2013 to 2015 and arrangements have been made to issue the refund to him. A review of his position for 2016 will be possible when he has his P60 for that year. Revenue will make contact with him directly in that matter shortly. Based on the information presently available to Revenue, the correct...

Written Answers — Department of Finance: Fuel Inspections (17 Jan 2017)

Michael Noonan: I am advised by Revenue that they have ongoing investigative and enforcement action to detect illicit use of green diesel, based on risk analysis, profiling, intelligence and the screening of vehicles. Details as regards detections and enforcement action are set out in the following table.  Table: Marked Mineral Oil Detections and Enforcement Action 2011 to 2015 2011 2012 2013 2014...

Written Answers — Department of Finance: Fuel Laundering (17 Jan 2017)

Michael Noonan: In relation to the resources allocated to investigate this form of fuel fraud, I am informed by Revenue that it is a fully integrated tax administration and that it is not possible to disaggregate resources deployed exclusively at any given time on action against fuel laundering. Revenue currently has approximately 2,000 staff engaged on activities that are dedicated to targeting and...

Written Answers — Department of Finance: Currency Circulation (17 Jan 2017)

Michael Noonan: I am informed by the Central Bank that the value of Irish Punt currency outstanding as of 31 December 2016 is as follows: Banknotes €227,125,638.68 Coin €123,741,177.34 Following the publication of the Irish Pound Notes and Coins (Cessation of Legal Tender Status) Order 2001 (S.I. No. 313/2001, available here:), legal tender status was withdrawn from Irish...

Written Answers — Department of Finance: Central Bank of Ireland Investigations (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 225 to 228, inclusive, together. I am informed by the Central Bank that under Part IIIC of the Central Bank Act 1942 , the Bank may hold an inquiry to determine whether or not a financial service provider is committing or has committed a prescribed contravention.  The Bank may also hold an inquiry to determine whether or not a person concerned in the...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (17 Jan 2017)

Michael Noonan: I am advised by Revenue that the person concerned received a refund under the Drivers and Passengers with Disabilities scheme, in respect of VRT, and a further refund was received in respect of the VAT element of the adaptations that were carried out on the car. The person concerned was advised on 28 November 2016 that there are no further refunds due in respect of this claim as they did...