Results 1,621-1,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Departmental Meetings (17 Jan 2017)

Michael Noonan: The information requested is being compiled and will be forwarded to the Deputy in line with Standing Orders. 

Written Answers — Department of Finance: Financial Services Regulation (17 Jan 2017)

Michael Noonan: A Personal Contract Plan (PCP) is a type of hire purchase agreement. The Consumer Credit Act 1995 applies to the provision of hire-purchase agreements. Both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the regulation of hire-purchase agreements. Any intermediary who is arranging the credit for...

Written Answers — Department of Finance: Home Repossessions Rate (17 Jan 2017)

Michael Noonan: In respect of the number of Primary Dwelling Homes (PDH) repossessed by each lending institution, the Central Bank only publishes aggregate information for properties which have been repossessed on a quarterly basis. Therefore it is not possible to provide the requested breakdown. In respect of the number of hearings per case we have no information on Court hearings and the Deputy may...

Written Answers — Department of Finance: Economic Growth Rate (17 Jan 2017)

Michael Noonan: The most recent economic forecast prepared by my Department was published as part of Budget 2017, which projected real GDP growth of 3.5 per cent in 2017. Domestic demand is set to drive growth once again this year with positive contributions expected from both consumption and investment spending. The recent dataflow has been encouraging showing that the strong momentum has continued: ...

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

Michael Noonan: As the Deputy is aware, small and medium sized businesses, including those in the construction sector, play a central role in the sustainable recovery of the Irish economy.  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. The Deputy will also be aware that in my role as...

Written Answers — Department of Finance: Housing Provision (17 Jan 2017)

Michael Noonan: At the outset I want to stress that my colleague the Minister for Housing, Planning, Community and Local Government has primary responsibility for the housing market. Having said that, developments in the housing market can have an impact on the wider economy so it is in all of our interests that equilibrium is restored to the market. A key priority for this Government is...

Written Answers — Department of Finance: Housing Data (17 Jan 2017)

Michael Noonan: As developments in the housing market can have a significant impact on the economy as a whole, my Department monitors developments on an ongoing basis including as regards house price developments. From their peak in 2007, house prices contracted by 43.3 per cent before reaching a trough in 2013. The subsequent recovery in the economy and the sustained period of employment growth has...

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

Michael Noonan: As the Deputy will be aware, overall responsibility for housing policy rests in the first instance with the Minister for Housing, Planning, Community and Local Government.  The Government, however, is aware of the significant issues facing the housing market and it is committed to restoring the housing market to a sustainable equilibrium by seeking to increase the supply of housing to...

Written Answers — Department of Finance: Pension Provisions (17 Jan 2017)

Michael Noonan: Before Finance Act 1999 people with defined contribution pension savings had no option but to buy a pension income (called an annuity) with their savings after taking the allowable tax-free retirement lump sum. Changes since then have given people more choices for what to do with their pension savings. This is called the flexible options at retirement regime. These choices include taking a...

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

Michael Noonan: 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. In this regard the Government has developed a number of initiatives to ensure that the supply of credit in the market is sufficient to meet the existing and future needs of SMEs. As the Deputy if aware, a key objective of the...

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

Michael Noonan: As the Deputy is aware, supporting SMEs, including those in the farming community, in terms of access to finance has been a cornerstone policy for Government in our efforts to rebuild the economy and bring back jobs.  In terms of monitoring the working capital requirements for SMEs, my Department commissions biannual surveys to ascertain the demand for credit by SMEs.  This...

Written Answers — Department of Finance: Tax Code (16 Dec 2016)

Michael Noonan: The structure and application of all taxes are considered each year by my Department as part of the annual Budget and Finance Bill process, with policy options presented to the Tax Strategy Group. In relation to carbon tax specifically, options around this tax were contained in the 2016 TSG Paper 16/03 Energy and Environmental Taxes, which is published on my Department's website....

Written Answers — Department of Finance: Tax Code (16 Dec 2016)

Michael Noonan: A capital gains tax (CGT) relief was introduced in the Finance Act 2015 for entrepreneurs disposing of certain business assets. That relief superseded a CGT relief for entrepreneurs introduced in the Finance Act 2014. The relief introduced in the Finance Act 2015 is much more broadly based than the previous relief and provided that a 20% rate of CGT applies in respect of a...

Written Answers — Department of Finance: Programme for Government Implementation (16 Dec 2016)

Michael Noonan: I am aware of this commitment in "A Programme for a Partnership Government" to increase the Small Benefit Exemption. I will not commit at this stage to a specific date but I can confirm that I will consider its implementation in the context of the Budget and Finance Bill cycle in 2017.

Written Answers — Department of Finance: Programme for Government Implementation (16 Dec 2016)

Michael Noonan: A number of measures have already been introduced by the Government in respect of the Programme for Government commitment referred to by the Deputy. The Budget 2017 income tax package included an increase in the Earned Income Credit from €550 to €950 per annum.  This is a significant step towards the Programme for Government commitment to increase the credit to...

Written Answers — Department of Finance: Tax Code (16 Dec 2016)

Michael Noonan: This is a matter for the Revenue Commissioners and, as the Deputy will be aware, Revenue is statutorily independent in the exercise of their functions. This independence, which dates back to the establishment of the Revenue Commissioners in 1923, is seen as critical to maintaining the integrity of the taxation system and forms a key pillar of Revenue's Governance framework. I am advised...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2016)

Michael Noonan: Since the referendum outcome, I have met with my EU counterparts at the monthly Ecofin and Eurogroup meetings, most recently at the December meetings which took place on the 5-6 December.  In line with the agreement at EU level, there have been and will be no negotiations with the UK until Article 50 has been triggered. I have taken the opportunity, in exchanges with EU partners, to...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2016)

Michael Noonan: The UK referendum on EU membership presents an important challenge for the Irish economy, both nationally and at a regional level. I have already introduced a number of actions and measures in response to this challenge. As the Deputy will be aware, my Department incorporated the potential impact of Brexit into the macroeconomic forecasts that underpinned Budget 2017. My Department...

Written Answers — Department of Finance: Banking Sector Regulation (16 Dec 2016)

Michael Noonan: As Minister for Finance, I have no direct function in the relationship between banks and their customers. Notwithstanding the fact that the State is a shareholder in a number of institutions, I must ensure that the banks are run on an independent basis to ensure the value of the banks as assets to the State. I have no role in the day-to-day running of the banks, which is solely...

Written Answers — Department of Finance: Brexit Issues (16 Dec 2016)

Michael Noonan: Contingency planning for Brexit has been ongoing at all levels of Government well in advance of the UK EU referendum in June 2016. Financial services is an area that is frequently identified in any discussion of Brexit.  Ireland has a successful track record of competing for, and winning, global foreign direct investment. One of the key pillars of that success is the growth of the...