Results 961-980 of 34,618 for speaker:Seán Fleming

Ceisteanna Eile - Other Questions: Banking Sector (28 Apr 2022)

Seán Fleming: I thank the Deputy for raising this question. It is a matter that is relevant for many people. While it is regrettable that Ulster Bank and KBC Bank have decided to exit the Irish market, the Deputy will understand that the Minister for Finance does not have a role in relation to the commercial decisions of the banks. The Minister's priority is to ensure each bank withdraws from the market...

Ceisteanna Eile - Other Questions: Banking Sector (28 Apr 2022)

Seán Fleming: The letter issued by the Central Bank to the organisations I mentioned in passing seeks to reinforce and, to any extent necessary, clarify the application of the expectations of the Central Bank's previous letter of June 2021 and to invite the CEOs to a round-table meeting hosted by the director general of financial conduct affairs, Ms Derville Rowland. The following are the key issues and...

Ceisteanna Eile - Other Questions: Credit Unions (28 Apr 2022)

Seán Fleming: Since the Government came to office we have had detailed consultation with all the representative bodies in the credit union, several rounds of consultation culminating in a recent meeting I chaired with all the representative bodies. There is agreement across that entire group on 15 changes that will help the credit unions. We are starting to draft the legislation for those. There is much...

Ceisteanna Eile - Other Questions: Credit Unions (28 Apr 2022)

Seán Fleming: That is an interesting point. Both those organisations deal with the Department of Finance. An Post has a good arrangement with AIB and Bank of Ireland for dealing with its cash business and everything like that. Especially as Ulster Bank is withdrawing from Ireland and the other banks have announced many branch closures, there is a fantastic opportunity for credit unions. In many towns...

Ceisteanna Eile - Other Questions: Research and Development (28 Apr 2022)

Seán Fleming: The Deputy might give me a moment. We have jumped quite a few questions because people are not here this morning and I want to get my folder in order. I thank him for raising the issue. The research and development tax credit allows companies to claim a 25% tax credit in respect of expenditure incurred on qualifying R&D activities. To conclude our conversation of a few moments ago...

Ceisteanna Eile - Other Questions: Research and Development (28 Apr 2022)

Seán Fleming: The Deputy will appreciate I do not have the full schedule of costs. I am making a note to get that information from the Department through contact with the Revenue Commissioners. The latter will have the information on the number of businesses taking up that relief readily to hand. Through my office, I will ask for that information to be obtained and forwarded to the Deputy.

Ceisteanna Eile - Other Questions: Research and Development (28 Apr 2022)

Seán Fleming: The promotion of this scheme genuinely falls to the Department of Enterprise, Trade and Employment. It is about business. We will write the cheque at the end of it but it belongs to that Department. From my own direct knowledge of the scheme I agree the small businesses do not know about it. The local enterprise offices, LEOs, know about it and Enterprise Ireland, EI, knows about it for...

Ceisteanna Eile - Other Questions: Cost of Living Issues (28 Apr 2022)

Seán Fleming: I thank the Deputy for raising this particular issue. We have had discussions here about various forms of taxation, which is one part of the issue the Government has been dealing with, but there have been many other interventions as well. The Government has intervened on four occasions to address the increases in the cost of living, at a combined cost of approximately €2.1 billion. ...

Ceisteanna Eile - Other Questions: Insurance Industry (28 Apr 2022)

Seán Fleming: I thank the Deputy for highlighting those points. The national claims information database, which is compiled by the Central Bank, is unique and provides a level of information that is not available in any other EU country. An issue that has cropped up at all our meetings is that of pinch points. We are dealing with those very specifically on an area-by-area basis. This week we...

Ceisteanna Eile - Other Questions: Insurance Industry (28 Apr 2022)

Seán Fleming: It is very important to point out that while the judicial guidelines are giving reductions of 40% in the cost of claims for soft tissue injuries and the most common injuries, no one who understood the system ever believed that would lead to a 40% reduction in premiums because the cost of those claims was the biggest cost to the insurance industry but it was not its only cost. That 40% will...

Ceisteanna Eile - Other Questions: Insurance Industry (28 Apr 2022)

Seán Fleming: Whatever. The issue is that they are working so well that people have seen they are getting less, and that is why there are test cases. We have had a big increase in the number of people not accepting the new reduced awards and taking their claims to court. When we have those test cases through the courts, I hope the colleagues of the Judicial Council who wrote the guidelines will...

Ceisteanna Eile - Other Questions: Credit Unions (28 Apr 2022)

Seán Fleming: I propose to take Questions Nos. 11, 16, 30 and 75 together. I thank the Deputy for raising the expansion of credit union services. The Government recognises the importance of credit unions. The programme for Government contains four specific commitments for the sector. These can be condensed into one key commitment, which is to enable the credit union movement to grow. That means...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: I understand what the Deputy is saying. Looking at it strictly, the only benefit the State can confer on people is solely through the taxation system. I understand that point from a very narrow perspective. That point of view may or may not have validity but, looking at it in the broader context of low-income families, the arguments being put forward have to be reviewed in a wider context....

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: Yes, it is a matter of prioritisation. We have issues in respect of medical card benefits. There are a number of other benefits-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: You will if you are on a low income-----

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: -----and people on the minimum wage. Many families are entitled to get medical cards.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: There are broader issues than that of income tax.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Energy Prices (28 Apr 2022)

Seán Fleming: As the Deputy said, we had a discussion on this issue last night. It is no harm to revisit the matter here. It is important to do so on this occasion. Ireland's taxation on fuel is governed by European Union law as set out in Directive 2003/96/ED, commonly known as the energy tax directive, ETD. The ETD prescribes minimum tax rates for fuel with which all member states must comply. ETD...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Energy Prices (28 Apr 2022)

Seán Fleming: Carbon tax is part of Ireland's overall decarbonisation policy. Nobody likes a tax, but we cannot on the one hand support all the climate change measures and on the other oppose the inclusion of carbon tax as part of that programme. While the financing side of it is always the hard bit, people agree with the principle. We cannot implement our principles unless we raise the revenue to do...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Energy Prices (28 Apr 2022)

Seán Fleming: I hear what the Deputy is saying, but the collection of carbon taxes is a key ingredient of our climate plan. It is no good having a plan unless we raise some money to cover it. I understand the technical point the Deputy made but, in an overall context, there is no point in having a plan to reduce carbon emissions and then saying we will not have any tax specifically for that purpose. It...