Results 25,481-25,500 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Illicit Trade (4 Jul 2023)

Michael McGrath: I am advised by Revenue that its approach to combatting the importation of prohibited and restricted goods and targeting illicit activities involves the use of analytics and detection technologies and ensuring the optimum deployment of resources on a risk-focused basis. In that context, I understand that operational requirements and arrangements regarding the deployment and use of detection...

Written Answers — Department of Finance: Departmental Correspondence (4 Jul 2023)

Michael McGrath: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received Wednesday 28 June. The contents will be considered in the context of the forthcoming Budget and the Deputy will be aware...

Written Answers — Department of Finance: Mortgage Interest Rates (4 Jul 2023)

Michael McGrath: The formulation and implementation of monetary policy is an independent matter for the European Central Bank (ECB) and, as the Deputy is aware, the ECB has increased official interest rates over the past year as it attempts to combat inflation. While the level of official interest rates influences the overall level of interest rates throughout the economy, the setting of retail lending...

Written Answers — Department of Finance: State Savings Schemes (4 Jul 2023)

Michael McGrath: I can advise the Deputy that I have no plans to introduce a SSIA type of saving product at this time.

Written Answers — Department of Finance: Departmental Correspondence (4 Jul 2023)

Michael McGrath: The Deputy should note at the outset that I have received the letter in question. It is also important to be aware that I am very conscious of the limitations of the Disabled Drivers and Disabled Passengers Scheme (DDS) as was my immediate predecessor. Consequently, the National Disability Inclusion Strategy Transport Working Group (TWG), comprising members from a range of...

Written Answers — Department of Finance: Budget Statement (4 Jul 2023)

Michael McGrath: Planning for Budget 2024 is well underway and officials from the Department of Finance and the Department of Public Expenditure, NDP Delivery and Reform are working towards bringing it before the Oireachtas in the autumn. The process behind each annual budget is comprehensive and includes a range of different publications and events that include the National Economic Dialogue and the...

Written Answers — Department of Finance: Customs and Excise (4 Jul 2023)

Michael McGrath: I am advised by Revenue that a Request for Tender for the design, supply and commissioning of a Customs cutter (patrol vessel) was published in the Official Journal of the EU in October 2022. Tenders were received in February 2023 and evaluation of the tenders was completed in June 2023. A preferred bidder has been identified and tenderers have been informed of the outcome. The standstill...

Written Answers — Department of Finance: Tax Code (4 Jul 2023)

Michael McGrath: It is important to consider the potential impacts and unintended consequences of providing preferential tax treatment to the proceeds of a sale of a property by a landlord to their tenant. As you are aware any tax exemption has the potential to distort the market, and this can certainly be the case with the property market. Such an exemption could further increase house prices for...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: I propose to take Questions Nos. 241 and 242 together. The Disabled Drivers & Disabled Passengers Scheme (DDS) provides relief from VRT and VAT on the purchase and use of an adapted car, as well as an exemption from motor tax and an annual fuel grant. The Scheme is open to severely and permanently disabled persons who also meet one of six specified medical criteria, as a driver or as...

Written Answers — Department of Finance: Housing Schemes (5 Jul 2023)

Michael McGrath: The Help to Buy (HTB) incentive is a scheme to assist first-time purchasers with the deposit they need to buy or build a new house or apartment. The incentive gives a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in the State over the previous four years, subject to limits outlined in the legislation. Section 477C Taxes Consolidation Act 1997 outlines the definitions...

Written Answers — Department of Finance: Departmental Correspondence (5 Jul 2023)

Michael McGrath: I can confirm the pre-Budget submission to which the Deputy refers was received Tuesday 27 June from a number of sources. All submissions are acknowledged by my department on receipt. The contents will be considered in the context of the forthcoming Budget and the Deputy will be aware that it is a longstanding practice of the Minister for Finance not to comment, in advance of the Budget,...

Written Answers — Department of Finance: Tax Code (5 Jul 2023)

Michael McGrath: As the Deputy will recall, I extended the 9% VAT rate for the tourism and hospitality sectors to 31 August 2023 from the previous end date of 28 February 2023. It will revert to the 13.5% VAT rate on 1 September 2023. The estimated cost of this measure is €300m. This extension strikes a balance between the cost to public finances and the provision of support for these sectors. It...

Written Answers — Department of Finance: Tax Code (5 Jul 2023)

Michael McGrath: Future tax changes are generally taken in the context of the Budget. The Deputy will be aware that my officials prepare a series of papers containing tax options for the Tax Strategy Group to be considered in the context of the budgetary process, alongside a wide range of submissions from various stakeholders and lobby groups. As the Deputy will also be aware, it is a longstanding...

Written Answers — Department of Finance: Departmental Correspondence (5 Jul 2023)

Michael McGrath: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I have not yet received a pre-Budget 2024 submission from the group to which the Deputy refers. The group invited me to a launch of the submission last week but I was unable to attend due to previous...

Written Answers — Department of Finance: Housing Policy (5 Jul 2023)

Michael McGrath: Policy on the public supports and measures to assist people, including older working people, with their housing needs, and also in relation to the provision of mortgages by local authorities, are in the first instance a matter for my colleague the Minister for Housing, Local Government and Heritage. Specifically in relation to the provision of mortgages by Central Bank regulated entities,...

Written Answers — Department of Finance: State Bodies (5 Jul 2023)

Michael McGrath: I can advise the Deputy as follows. The Credit Union Advisory Committee was set up to advise the Minister for Finance in relation to credit union matters. It meets on a monthly basis in my Department, with Department officials providing a secretariat function. It does not have a full time chair or any full time employees. The Credit Union Restructuring Board concluded its restructuring work...

Written Answers — Department of Finance: Departmental Equipment (5 Jul 2023)

Michael McGrath: This situation has not arisen in my Department, all software used is licenced.

Written Answers — Department of Finance: Insurance Industry (6 Jul 2023)

Michael McGrath: At the outset, it is important to note that neither I, nor the Central Bank of Ireland, can direct the pricing or provision of insurance products, as this is a commercial matter which individual companies assess on a case-by-case basis. This position is reinforced by the EU Single Market framework for insurance (the Solvency IIDirective). In July 2022, the Central Bank introduced Regulations...

Written Answers — Department of Finance: Budget Process (6 Jul 2023)

Michael McGrath: In advance of the Budget, as Minister for Finance I receive a large number of pre-budget submissions on a wide range of issues. All submissions are acknowledged by my Department on receipt. I can confirm the pre-Budget submission to which the Deputy refers was received Thursday 29 June and acknowledged on Friday 30 June. The contents will be considered in the context of the forthcoming...

Written Answers — Department of Finance: Departmental Websites (6 Jul 2023)

Michael McGrath: I can advise the deputy that most Departments, including my own Department, now host their websites within the gov.ie domain. Since gov.ie went live on the 17thof January 2019 and in preceding years there have been no occasions where the SSL certificates associated with my Department's website have expired without renewal. My Department acts immediately when alerted to an upcoming expiry date...