Results 21-40 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Economic Statements (1 Jun 2017)

Michael Noonan: The Summer Economic Statement (SES) is a key element of the reformed budgetary process which complements the Stability Programme Update. While the macroeconomic outlook will be as set out in the Stability Programme Update, the SES will provide an updated assessment of the fiscal space available for 2018. It will also outline the key elements of the Government’s economic strategy. ...

Written Answers — Department of Finance: Help-To-Buy Scheme Data (1 Jun 2017)

Michael Noonan: As the Deputy will be aware, there are two stages involved in the Help to Buy process. Stage 1 is the Application Stage, wherein prospective applicants can query whether they qualify for the incentive. They can also get clarity on the maximum amount of rebate they could potentially benefit from, based on their tax paid in a four-year period. Stage 2 is the Claims Stage,...

Written Answers — Department of Finance: Tax Yield (1 Jun 2017)

Michael Noonan: In the 2016 Finance Act I introduced provisions to address concerns raised in both the media and the Dáil regarding the use of section 110 companies and certain Irish collective investment vehicles by international investors to minimise their tax payments on Irish property transactions. In relation to Section 110 companies the amendments made in Finance Act 2016 will ensure that tax...

Written Answers — Department of Finance: Tracker Mortgages Examination (1 Jun 2017)

Michael Noonan: I am informed by the Central Bank that business loans provided to businesses are not in the scope of the Central Bank’s ongoing tracker examination. However some business loans which are connected to Private Dwelling Homes and Buy to Lets may come within scope due to the connection. The Tracker Mortgage Examination requires lenders, which offered tracker interest rate...

Written Answers — Department of Finance: Insurance Industry (1 Jun 2017)

Michael Noonan: Enterprise Insurance Company plc (Enterprise) is a Gibraltar incorporated company and, therefore, the Enterprise liquidation is being carried out under the laws of Gibraltar.  The situation around the Enterprise liquidation is an evolving one.  The position as it currently stands is as set out below. A Provisional Liquidator was appointed to Enterprise on 25...

Written Answers — Department of Finance: Mortgage Data (1 Jun 2017)

Michael Noonan: The Mortgage Arrears and Repossessions data published by the Central Bank indicates that over €3 billion of loan balances were classified as “Split Mortgage” restructures at end Q4 2016, based on PDH and BTL portfolios across all entities (including banks, retail credit firms and unregulated loan owners). The Central Bank does not publish information on the...

Written Answers — Department of Finance: Financial Services Regulation (1 Jun 2017)

Michael Noonan: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. The CCPC is responsible under the Consumer Credit Act 1995, for the authorisation of credit intermediaries, some of whom may...

Written Answers — Department of Finance: Vehicle Registration (1 Jun 2017)

Michael Noonan: The relief from Vehicle Registration Tax when transferring residence is provided for in the Finance Act 1992, section 134 and Statutory Instrument No. 59 of 1993 Vehicle Registration Tax (Permanent Reliefs) Regulations, 1993.  Regulation 4(5)(a) of that S.I. provides that the relief will not be granted where the vehicle is brought into the State more than twelve months after the...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I thank all the Senators for this opportunity to address the House and to give a brief update on the progress made in returning Allied Irish Banks, AIB, to private ownership and the continued normalisation of the State's involvement in the Irish banking system. Yesterday evening, I published an intention to float, ITF, announcement, indicating that the Department of Finance is preparing for...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: Copies are coming across from the Department. As soon as they come, they will be distributed. The Senators will have to listen carefully until then.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: These disposals will also help reduce our elevated national debt and can foster further competition in the Irish banking market, by removing any perception of State interference that might dissuade new entrants. I have previously made the case, and it is this Government's firm view, that the State should not own and support banks when the capital markets are willing and able to provide this...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: If the Senator states her policy position, I will reply.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I thank the Senators for their contributions. I like coming to the Seanad because the debates are always interesting. I thank the Senators who paid compliments to me on my impending retirement. I might come back and haunt the Seanad in the future.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I might be in the Taoiseach's 11. I would like to deal with a number of the points raised. First, on the question of timing, it has always been the policy of the Government since we first put capital into the banks that in due course the banks would be restored to private ownership. That was the common policy position, shared with the Labour Party in the previous Government. Second, it is...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: Let me finish the point.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I am not misrepresenting the Senator's party. I will give the Senator the codes from Deputy Pearse Doherty and several of the party spokesperson. I agree with what Senator Conway-Walsh was saying, it is just that she is saying something different now. The policy right across this House and the other House was that we must break the link between the sovereigns and the bank, because if we do...

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: What normally happens is there are informal discussions with the Commission, and the Commission, when it believes there is agreement, brings forward the proposal.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: Yes, but there would be no difficulty getting that, if it is beneficial.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: I do not think, Senator Conway-Walsh, that that is a valid point.

Seanad: Proposed Sale of AIB Shares: Statements (31 May 2017)

Michael Noonan: Where is the cronyism and corruption in the sale of AIB?