Results 501-520 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Brexit Issues (6 Apr 2017)

Michael Noonan: Relative price levels between Ireland and Northern Ireland for excisable products are an important factor in determining budgetary policy every year. These price levels are monitored on a regular basis. The most recent data from Revenue on indicative price levels for excisable products (alcohol, tobacco and mineral oil products) is outlined below. This is based on a crossborder price...

Written Answers — Department of Finance: Tax Code (6 Apr 2017)

Michael Noonan: I am informed by Revenue that a 50% reduction in the current VRT rates based on the registrations for 2016 would result in an estimated loss of revenue of €380m. I am informed by the Department of Housing, Planning, Community and Local Government that motor tax receipts for 2016 were €1,052m. Theoretically, it could be projected that a 36.1% increase on...

Written Answers — Department of Finance: Tax Data (6 Apr 2017)

Michael Noonan: I am informed by Revenue that an estimated €60m would have been collected for the Exchequer if sales of new cars in the first quarter of 2017 had matched the level seen in the same period in 2016. However, the Deputy should also note than an additional €26.4m in VRT has been received in respect of increased registrations in used cars in the same period.

Written Answers — Department of Finance: Consultancy Contracts Data (6 Apr 2017)

Michael Noonan: In response to the Deputy's question, I have included in tabular form, the requested information in relation to external consultant reports commissioned by my Department since March 2011. Commission date External Consultant Report Name Cost Published /Expected Publication date 2017 SME Lending Survey October 2016 - March 2017 Behaviour & Attitudes N/A - Survey ongoing To be...

Written Answers — Department of Finance: Brexit Issues (6 Apr 2017)

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. 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 International Financial Services (IFS) sector, in particular over the past 30 years. Ireland...

Written Answers — Department of Finance: Consultancy Contracts Data (6 Apr 2017)

Michael Noonan: My officials have been engaging with relevant stakeholders in order to further progress the goal of relocating the European Banking Authority to Ireland, post the completion of the negotiations between the EU and the United Kingdom. This has included meetings with the European Commission in order to highlight the benefits of relocating the Authority to Ireland....

Brexit: Statements (Resumed) (5 Apr 2017)

Michael Noonan: Every Member of this House will agree that Brexit presents major challenges for Ireland given the potential implications for the economy and trade, the Northern Ireland peace process, the maintenance of the common travel area and the future of the European Union. These are the Government's priorities and we have been preparing solidly to defend them over a long time. Our preparation to date...

Written Answers — Department of Finance: NAMA Social Housing Provision (5 Apr 2017)

Michael Noonan: The Deputy will be aware that NAMA has made a significant contribution, on a commercial basis to the delivery of social housing, through working closely with the Department of Housing, Planning, Community & Local Government and the Housing Agency. To end 2016, NAMA offered 6,941 vacant houses and apartments owned by debtors and receivers to the Housing Agency, who...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (5 Apr 2017)

Michael Noonan: The Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme provides relief from VAT and VRT, up to a certain limit, on the purchase of an adapted car for transport of a person with specific severe and permanent physical disabilities, payment of a fuel grant, and an exemption from Motor Tax. To qualify for the Scheme an applicant must be in possession of a Primary Medical...

Written Answers — Department of Finance: Bank Branch Closures (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 123 and 130 together. I should say at the outset that I note with regret that Ulster Bank is closing a significant number of branches with considerable negative impacts on both staff and customers alike.  However, I should stress that the Irish Government has no formal role in the commercial decisions of Ulster Bank, or any other bank, as to...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (5 Apr 2017)

Michael Noonan: I assume that the Deputy's enquiry relates to the Help to Buy scheme (HTB). Applying to the Revenue Commissioners for the HTB incentive is a two-stage process. Individuals must first 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 where they have entered into a...

Written Answers — Department of Finance: Brexit Issues (5 Apr 2017)

Michael Noonan: The Department of Finance has been assessing and preparing for the impact of a British exit from the European Union since well before the referendum on 23 June 2016. The challenges which we face as a result of Brexit are mainstreamed across all divisions of my Department and this is reflected in business planning. Work conducted in the Department to assess the potential economic and...

Written Answers — Department of Finance: Economic Competitiveness (5 Apr 2017)

Michael Noonan: Significant progress has been made in recent years in improving Ireland's competitiveness.  The latest figures from the Central Bank of Ireland, show that Ireland's real harmonised competitiveness indicator (a widely used measure of competitiveness in Europe) has improved by over 20 per cent between its peak in 2008 and February 2017. This improvement has occurred notwithstanding the...

Written Answers — Department of Finance: Mortgage Lending (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 127 to 129, inclusive, together. The statutory framework for the Central Bank of Ireland macro-prudential rules on residential mortgage lending is Regulations made under the Central Bank (Supervision and Enforcement) Act 2013. In this context, S.I. No. 47/2015 (the statutory instrument which implements the mortgage measures) provides that a...

Written Answers — Department of Finance: Consultancy Contracts Data (5 Apr 2017)

Michael Noonan: I wish to advise the Deputy that of the 18 bodies under the aegis of my Department, 15 have indicated that they have not engaged the services of private investigation firms in the past five years to date in 2017.  In relation to the 3 remaining bodies under the aegis of my Department, the Investor Compensation Company Limited and the National Treasury Management...

Written Answers — Department of Finance: Brexit Issues (5 Apr 2017)

Michael Noonan: I propose to take Questions Nos. 132 and 133 together. The Assistant Secretary who heads the EU and International Division of my Department has been designated as the lead official in the Department for Brexit matters.  A dedicated Brexit Unit within the EU and International Division was established in July 2016 to oversee and coordinate Brexit work across the entire...

Written Answers — Department of Finance: Credit Unions (5 Apr 2017)

Michael Noonan: My role as Minister for Finance is to ensure that the legal framework for credit unions is appropriate for the effective operation and supervision of credit unions. Credit unions are regulated and supervised by the Registrar of Credit Unions at the Central Bank who is the independent regulator for credit unions.  Within her independent regulatory discretion, the Registrar acts...

Other Questions: NAMA Operations (4 Apr 2017)

Michael Noonan: While I do not wish to comment on individual cases, I have already cited examples of cases where NAMA is fulfilling its social mandate in an extensive manner. I also referred the Deputy to NAMA's website, www.nama.ie/social-initiatives, where he will find details of the various social initiatives the agency has taken under the Act.

Other Questions: Tracker Mortgages (4 Apr 2017)

Michael Noonan: The Central Bank (Supervision and Enforcement) Act 2013 has given powers to the Central Bank to direct the payment of redress to customers, where appropriate. However, this provision does not have a retrospective effect and the Central Bank does not have the statutory power to compel lenders to implement redress and compensation programmes in respect of failures that occurred prior to the...

Other Questions: Tracker Mortgages (4 Apr 2017)

Michael Noonan: The Central Bank is insisting that redress is paid by the offending banks to persons affected by this issue, even if the redress obligation arises prior to the 2013 Act. In addition, affected customers do not have to accept the compensation offered and may go through an appeals process without prejudice to their other options of taking a second route of appeal, making a complaint to the...