Results 121-140 of 19,717 for in 'Written Answers' speaker:Michael Noonan

Written Answers — Department of Finance: Central Bank of Ireland Enforcement Actions (18 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: European Fund for Strategic Investments (18 May 2017)

Michael Noonan: I take it that the Deputy is referring to the European Fund for Strategic Investments (EFSI), one pillar of the Investment Plan for Europe, at times referred to as the Juncker Plan. As the Deputy may be aware, since EFSI's enactment in July 2015, it has been possible for any project promoter, either public or private, to engage with the EIB regarding the possibility of receiving loans or...

Written Answers — Department of Finance: Budget 2018 (18 May 2017)

Michael Noonan: The Programme for Partnership Government recognises the need to invest in public services and capital infrastructure, to meet increasing demographic demands, provide targeted expenditure increase for improvements focusing upon health, housing, education, disability, child care and development, and that capital investment in key physical and social infrastructure can support growth and...

Written Answers — Department of Finance: Brexit Issues (18 May 2017)

Michael Noonan: It is worth reiterating that the Government’s absolute preference is to maintain the closest possible trading relationship between the UK and the EU/Ireland. The EU negotiating guidelines include strong acknowledgement of the unique circumstances on the island of Ireland, including with the aim of avoiding a hard border.  Like all Government agencies, the Revenue Commissioners...

Written Answers — Department of Finance: Tracker Mortgages Examination (18 May 2017)

Michael Noonan: As the Deputy is aware, the Central Bank of Ireland published a report providing an update on the Tracker Examination on 23 March. As the Central Bank has set out in the report: - approximately 9,900 customer accounts had been identified as impacted by lenders, as part of the Examination, as at end February 2017; - lenders had commenced contacting impacted customers identified as...

Written Answers — Department of Finance: Excise Duties (18 May 2017)

Michael Noonan: As the Deputy will be aware, it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget, on any tax matters that might be the subject of Budget decisions.

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

Michael Noonan: According to Eurostat, the statistical office of the European Union, Ireland was the fastest growing economy in the EU in 2016.  Real GDP growth in Ireland was 5.2 per cent in 2016 compared with real GDP growth in the EU economy and euro area economy of 1.9 per cent and 1.8 per cent, respectively. Domestic demand made a strong positive contribution to growth in 2016 while on an...

Written Answers — Department of Finance: Sale of State Assets (18 May 2017)

Michael Noonan: The Program for a Partnership Government allows for the sale of not more than 25% of any bank before the end of 2018 (plus any over-allotment option). I have not yet made any decision to proceed with a sale of shares in AIB. In order to proceed with an IPO I would need to be satisfied that the market is prepared to put a fair and reasonable value on the banks equity, bearing...

Written Answers — Department of Finance: Tracker Mortgages Examination (18 May 2017)

Michael Noonan: As the Deputy will be aware, the Central Bank of Ireland published a report providing an update on the Tracker Examination on 23 March. As the Central Bank has set out in the report: - approximately 9,900 customer accounts had been identified as impacted by lenders, as part of the Examination, as at end February 2017; - lenders had commenced contacting impacted...

Written Answers — Department of Finance: Brexit Issues (18 May 2017)

Michael Noonan: Brexit and its aftermath will lead to challenges for SMEs. The exact nature of the impact of Brexit on SMEs is not clear or definitive at present, given the uncertainty surrounding the post Brexit relationship between the UK and the EU.  However, SMEs will require support to diversify their exports to reduce their exposure to the UK, re-price their products and services as well as...

Written Answers — Department of Finance: Banking Sector Regulation (18 May 2017)

Michael Noonan: There is no agreement on the precise meaning of the term “vulture funds” and it has come to have pejorative connotations. I presume that the Deputy intends referring to private equity funds. The Deputy will be aware that international private equity funds invested much needed capital in our economy during a period of high risk and uncertainty. The Consumer Protection...

Written Answers — Department of Finance: Ireland Strategic Investment Fund Investments (18 May 2017)

Michael Noonan: In line with Rebuilding Ireland commitments, the Ireland Strategic Investment Fund (ISIF) and a number of key Government Departments are examining the feasibility of establishing a funding vehicle, in conjunction with the private sector, which could facilitate investment in social and affordable housing. Key factors which must be addressed to facilitate ISIF involvement in such projects...

Written Answers — Department of Finance: Brexit Issues (18 May 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. Work was carried out in the Department to assess the potential economic and financial sector implications arising, including through the ESRI-Department of Finance research programme study published in November 2015 titled...

Written Answers — Department of Finance: Banking Sector (18 May 2017)

Michael Noonan: As the Deputy will be aware, the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs is the lead Department in respect of the Programme for Government commitment to thoroughly investigate the Sparkassen model of local public banks that operate within well-defined regions. The Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs, with the assistance of...

Written Answers — Department of Finance: European Investment Bank Loans (18 May 2017)

Michael Noonan: ISIF and the wider NTMA is examining the feasibility of establishing, in conjunction with the private sector, a Housing Investment Fund, in a way that is both off-balance sheet and is commercially viable. This vehicle should be capable of funding the delivery of substantial new mixed-tenure residential developments, comprising social and private housing. Whilst a major objective of any...

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

Michael Noonan: As previously referred to in Parliamentary Question numbers 191 of 4 April 2017 and 208 of 28 February 2017, the Government has been exploring potential mechanisms that would facilitate investment in social housing, including the off-balance sheet potential of private institutional investment. Ireland Strategic Investment Fund (ISIF) led engagement on the Housing Fund...

Written Answers — Department of Finance: Brexit Issues (18 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 Governments 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 border,...

Written Answers — Department of Finance: Common Consolidated Corporate Tax Base Negotiations (18 May 2017)

Michael Noonan: The European Commission's proposal for a Common Consolidated Corporate Tax Base (CCCTB) was published in October 2016 and discussed at the November 2016 ECOFIN meeting.  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 2016 ECOFIN, Council Conclusions were approved in respect of the...

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

Michael Noonan: The Credit Union Advisory Committee (CUAC) in its Review of Implementation of the Recommendations in the Commission on Credit Unions Report (the Report) recommended the establishment of an Implementation Group for a specified period of time to oversee and monitor implementation of its recommendations in a methodical manner and to advise the Minister for Finance on...

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

Michael Noonan: As previously referred to in Parliamentary Question number 197 on 4 April 2017, the Credit Union Act, 1997 (1997 Act) sets out the services that a credit union may provide to its members. In addition, the Credit Union Act 1997 (Regulatory Requirements) Regulations 2016 (2016 Regulations) provides for services exempt from additional services requirements. Where a credit union wishes to...