Results 201-220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Cyber Security Policy (18 May 2017)

Michael Noonan: I understand that the Deputy is interested in cyber security arrangements for my Department and a number of Bodies under the Aegis of my Department, namely the National Treasury Management Agency (NTMA), the Central Bank, the Financial Services Ombudsman and  the Office of the Revenue Commissioners. In relation to my Department, I wish to advise that ICT services are provided by the...

Written Answers — Department of Finance: Home Repossessions Rate (18 May 2017)

Michael Noonan: I propose to take Questions Nos. 90 and 91 together. The  Government attaches great importance to the resolution of mortgage arrears and wants to keep families in their homes and avoid repossessions insofar as possible.  The Deputy will be aware of the recent establishment of the Abhaile mortgage arrears resolution service to ensure that those either in mortgage...

Written Answers — Department of Finance: Economic Growth Rate (18 May 2017)

Michael Noonan: I propose to take Questions Nos. 92, 93, 96, 99 and 102 together. In general, recent indicators have been very positive, indicating that the economic recovery is continuing at a robust pace. The preliminary estimate for full-year GDP growth in 2016 is 5.2 per cent, based on National Accounts data for the fourth quarter of the year, making Ireland the fastest growing economy in the...

Written Answers — Department of Finance: Motor Insurance Regulation (18 May 2017)

Michael Noonan: I established the Cost of Insurance Working Group, chaired by Minister of State, Eoghan Murphy T.D in July 2016.  This Working Group is examining the factors contributing to the increasing cost of insurance and identifying what short, medium and long-term measures can be introduced to help reduce the cost of insurance for consumers and businesses.  The initial focus of the Working...

Written Answers — Department of Finance: Pension Provisions (18 May 2017)

Michael Noonan: Mmembers of defined benefit (DB) pension schemes who have the option of putting funds accumulated under their DB scheme into an Approved Retirement Fund (ARF) on retirement are required, as is the case with members of defined contribution pension arrangements, to invest those funds in an Approved Minimum Retirement Fund (AMRF) or use the funds to purchase an annuity in certain circumstances....

Written Answers — Department of Finance: Tax Yield (18 May 2017)

Michael Noonan: The position is that cumulative Exchequer tax revenues at the end of March 2017 were slightly below profile, coming in just 2.4% or €282 million under expectations. In terms of the “Big 4” tax headings, corporation tax, income tax and excise duties recorded shortfalls against profile, but VAT was ahead of expectations. Corporation tax receipts of €520 million...

Written Answers — Department of Finance: Credit Availability (18 May 2017)

Michael Noonan: As the Deputy is aware, supporting SMEs in terms of access to finance has been a cornerstone policy for Government in our efforts to rebuild the economy and bring back jobs. 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...

Written Answers — Department of Finance: Mortgage Interest Rates (18 May 2017)

Michael Noonan: Although Ireland is in a monetary union with other Euro area Member States, it has to be acknowledged that there are many factors, such as differences in national legal and housing systems, cultural preferences, language, the proximity of lenders to borrowers, which will continue to inhibit the full integration of the residential mortgage market, and of mortgage...

Written Answers — Department of Finance: Tax Code (18 May 2017)

Michael Noonan: VAT is governed by the EU VAT Directive, with which Irish VAT law must comply. While most economic activity is subject to the standard VAT rate of 23%. Construction services already avail of the reduced VAT rate of 13.5%.  Ireland has historically applied the 13.5% reduced rate of VAT to all construction services under a derogation from the EU VAT Directive.  The Programme...

Written Answers — Department of Finance: Inflation Rate (18 May 2017)

Michael Noonan: Over the past few years consumer price inflation has been near zero in Ireland and in the euro area more generally. In 2016 annual inflation in Ireland - as measured by the Harmonised Index of Consumer Prices (HICP) was slightly negative at -0.2 per cent. However, in Ireland and in the euro area, there are signs that inflation is starting to pick-up gradually as the drag on consumer...

Written Answers — Department of Finance: Revenue Commissioners Powers (17 May 2017)

Michael Noonan: Section 1002 of the Taxes Consolidation Act 1997 provides for the use of Attachment Orders by Revenue in situations where a taxpayer or business fails to meet statutory tax payment obligations and opts not to engage in identifying and agreeing a mutually acceptable solution. I am advised by Revenue that its clear preference is always to work with taxpayers experiencing cash-flow difficulties...

Written Answers — Department of Finance: Tax Code (17 May 2017)

Michael Noonan: I propose to take Questions Nos. 101 and 102 together. The Deputy may wish to note that a Post-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at . In relation to the first question, this Ready Reckoner shows a wide range of detailed information, including the estimated cost or yield to the Exchequer of widening the standard tax rate bands. While the Ready...

Written Answers — Department of Finance: Departmental Agencies Expenditure (17 May 2017)

Michael Noonan: In response to the Deputy, I am advised that of the 18 bodies under the aegis of my Department, 8 have incurred costs relating to the rental of car park spaces for the period in question. I have included the details of payments made in each of the years 2011 to 2016 and to date in 2017 in the following table in respect of these 8 bodies, as requested. Of the remaining 10 bodies, the Office...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (17 May 2017)

Michael Noonan: The Central Bank’s Code of Conduct on Mortgage Arrears 2013 (CCMA) sets out how mortgage lenders must treat borrowers in or facing mortgage arrears.  The CCMA applies to the mortgage loan of a borrower which is secured by his/her primary residence. The CCMA provides that a lender must ensure that it has in place a Mortgage Arrears Resolution Process (MARP) as a framework for...

Written Answers — Department of Finance: Tax Rebates (17 May 2017)

Michael Noonan: I am advised by Revenue that a refund of tax for 2016 was made by direct credit to the nominated bank account of the authorised agent of the person concerned on 16 February, 2017.

Written Answers — Department of Finance: Brexit Issues (17 May 2017)

Michael Noonan: The Government has published  a comprehensive document on ‘Ireland and the negotiations on the UK’s withdrawal from the European Union under Article 50 of the Treaty on European Union’ on 2 May. The Government's position in relation to the Border with Northern Ireland in the context of Brexit is very clear - continued freedom of movement, absence of a hard...

Written Answers — Department of Finance: Banking Sector Regulation (17 May 2017)

Michael Noonan: As the Deputy will be aware, I, as Minister for Finance, have no function in the relationship between the Irish banks and their regulator, the Central Bank of Ireland. The Central Bank is the statutory supervisory and enforcement authority for regulated financial services providers in Ireland, and it is also responsible for protecting the consumer of financial services. As such, it is the...

Written Answers — Department of Finance: Departmental Agencies Staff Data (17 May 2017)

Michael Noonan: I understand that the Deputy is referring to persons employed by bodies under the aegis of my Department through recruitment agencies. I have been advised that of the 18 bodies under the aegis of my Department, 7* bodies have persons employed through agencies. I have included the number of persons in the following table in respect of these 7 bodies, as requested. Of the remaining 11...

Written Answers — Department of Finance: Departmental Staff Data (17 May 2017)

Michael Noonan: I wish to inform the Deputy that there are no persons employed through agencies in my Department. There are 12 persons employed in the Shareholding and Financial Advisory Division of my Department who are seconded from the NTMA.

Written Answers — Department of Finance: Departmental Agencies Expenditure (17 May 2017)

Michael Noonan: In response to the Deputy, the information which I am providing is in respect of costs incurred to date in 2017. I have been advised that of the 18 bodies under the aegis of my Department, 6* have incurred costs for contracted work completed by external agencies or consultants in human resources and industrial relations. I have included the details of payments made to date in...