Results 1,741-1,760 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Operations (6 Dec 2016)

Michael Noonan: I am informed by the Central Bank, that Royal Bank of Scotland has indicated publically that "For SME customers of Ulster Bank in the Republic of Ireland that were in GRG during the period 2008-2013, we are working to see how we can apply the same support where appropriate. SME customers of Ulster Bank in the Republic of Ireland can contact the CRG Customer Helpdesk if they have any...

Written Answers — Department of Finance: Property Tax Administration (6 Dec 2016)

Michael Noonan: I have no plans to introduce a measure along the lines suggested by the Deputy. The Deputy will appreciate that tax reliefs and exemptions have costs which have to be paid for and their introduction must be considered only where there is a clear economic and social policy need to be addressed. The report of the 2012 Thornhill group, on which the design of the local property tax (LPT) was...

Written Answers — Department of Finance: VAT Yield (6 Dec 2016)

Michael Noonan: VAT receipts collected by county are published on the Revenue statistics website:. Collection for 2016 VAT in Meath to end November is provisionally estimated at €215m. It should be noted that the amount of tax attributed to a county may not necessarily be an indication of economic activity in that county. The liability of a trader to VAT is generally dealt with by reference to the...

Seanad: Finance Bill 2016: Second Stage (1 Dec 2016)

Michael Noonan: The prudent economic and fiscal policies implemented over recent years have placed Ireland in a much stronger financial position. In particular the recovery in the public finances of recent years is testament to our resilience. I made the point in my Budget Statement that we must get away from, forever, the boom and bust cycles that have caused so much grief in the past. We must not forget...

Seanad: Finance Bill 2016: Second Stage (1 Dec 2016)

Michael Noonan: I thank all my Seanad colleagues for their contributions. Many of the points made could be elucidated further on Committee Stage. The Bill comes from a situation in which we negotiated a Government. We are supported by Independent Members in the Cabinet, principally by the group associated with the Minister for Transport, Tourism and Sport, Deputy Shane Ross, but also by the Minister for...

Seanad: Finance Bill 2016: Second Stage (1 Dec 2016)

Michael Noonan: As I have to attend an ECOFIN meeting on Tuesday, it is the Minister of State who will be present for the debate.

Written Answers — Department of Finance: Insurance Coverage (1 Dec 2016)

Michael Noonan: The flooding events last year raised issues in relation to flood insurance and I am aware of the difficulties that the absence or withdrawal of flood insurance cover can cause to homeowners and businesses.  One of my primary concerns in the area of insurance is that homeowners have access to insurance to cover unforeseen losses, including...

Written Answers — Department of Finance: Tax Collection (1 Dec 2016)

Michael Noonan: I would first note that, since the establishment of the Revenue Commissioners in 1923, successive Governments and the Oireachtas have reaffirmed the principle of the independence of the Revenue Commissioners in their dealings with the tax affairs of any individual under tax and customs legislation. This independence is seen as critical to maintaining the integrity of the taxation system and...

Written Answers — Department of Finance: Insurance Costs (1 Dec 2016)

Michael Noonan: As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation. Neither I nor the Central Bank of Ireland, can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an assessment of the risks they are willing to...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (1 Dec 2016)

Michael Noonan: To be eligible to apply for the Help to Buy incentive, a first-time buyer must have signed a contract to purchase a new build property on or after the 19th July 2016. In the case of a self-build home, they must have drawn down the first tranche of the relevant mortgage on or after that date. The full conditions of the scheme and its commencement remain subject to...

Written Answers — Department of Finance: Mortgage Applications Approvals (1 Dec 2016)

Michael Noonan: I am not familiar with cases where issues have arisen related specifically to lending practices for new businesses secured by mixed-use property. However, I am aware that most banks will consider that a mixed-use property is an acceptable form of security for business loans, except where any particular use is likely to restrict the Bank's ability to realise its...

Written Answers — Department of Finance: Banking Licence Applications (1 Dec 2016)

Michael Noonan: The Central Bank has seen a significant number of enquiries that are Brexit related since the June referendum across all sectors including banking, insurance, investment firms, funds and fund service providers, payments and fintech. The vast majority of enquiries have been exploratory in nature, however recently they are seeing a number of these enquiries beginning to advance...

Written Answers — Department of Finance: Banking Licence Applications (1 Dec 2016)

Michael Noonan: I am informed by the Central Bank that the assessment of authorisation applications and the approach taken differs depending upon the type of firm and sector.  In some sectors such as funds licensing, the turnaround time is a matter of days. In other areas the timing prescribed by EU law is a matter of months, once an application is considered as complete.  In between these...

Written Answers — Department of Finance: Banking Licence Applications (1 Dec 2016)

Michael Noonan: I am informed by the Central Bank that its workforce planning for next year, which is currently being finalised, reflects the additional resources needed to deal with applications that is expected to come its way. This will take the form both of an increase in staff, that is additional staff recruited to the Bank, in areas where it already knows that it will need additional numbers, and...

Written Answers — Department of Finance: Departmental Staff Data (1 Dec 2016)

Michael Noonan: A new Brexit Unit within the EU and International Division of my Department was established in July 2016 to oversee and coordinate the Department's work in the area of Brexit. There are currently 3 staff employed in the Unit. In addition, the Department of Finance staff complement in the Irish Permanent Representation to the EU in Brussels has been strengthened. Resourcing for Brexit...

Written Answers — Department of Finance: Central Bank of Ireland Staff (1 Dec 2016)

Michael Noonan: I am informed by the Central Bank that it can sometimes experience difficulties in hiring and retaining staff in certain areas simply because there is significant labour market competition for the types of skilled persons that it requires to effectively regulate and supervise financial services firms. The type of people and skills that the Bank requires are the same type of people...

Written Answers — Department of Finance: Banking Sector Data (1 Dec 2016)

Michael Noonan: I am firmly of the view that the Irish banking system has an important role to play in the normalisation of the Irish housing sector through the speedy return of properties in their possession to the general market. I am also conscious that where a bank comes into possession of a property the institution has a fiduciary responsibility to dispose of the property in a manner that...

Written Answers — Department of Finance: Tax Code (1 Dec 2016)

Michael Noonan: I am advised by Revenue that VAT is governed by the EU VAT Directive (Council Directive 2006/112/EC), with which Irish VAT law must comply. Under the VAT Consolidation Act, goods sold over the internet on behalf of a supplier in another Member State to a customer in Ireland are liable to VAT in the Member State of the supplier, provided the value of their total sales to customers in Ireland...

Written Answers — Department of Finance: IBRC Liquidation (1 Dec 2016)

Michael Noonan: Officials in my Department have advised me that Department of Finance related claims in the region of €1.1bn have been submitted to the Special Liquidators of IBRC. I am aware that other State related claims have also have been submitted but these are a matter for those entities. The Special Liquidators have advised that the likely financial result for the State from the Special...

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (1 Dec 2016)

Michael Noonan: I am informed by the Central Bank that in cases where a firm is found to be operating an unauthorised investment firm, a warning notice is issued by the Bank pursuant to Section 53 of the Central Bank (Supervision and Enforcement) Act 2013. Twenty-five such notices were published in total during 2015 and 2016. The full listing of warning notices published by the Central Bank is...