Results 26,481-26,500 of 27,945 for speaker:Michael McGrath

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 62: In page 72, between lines 26 and 27, to insert the following: “(e) the repayment, redemption or purchase by - (i) a company to whom a relevant loan was made, or (ii) in a case where a relevant loan was made to an indirect qualifying subsidiary, the intermediate holding company that directly holds 75 per cent or more of the ordinary share capital of the...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 63: In page 72, line 36, to delete “section 70(2) and section 76(5)(b)” and substitute “sections 70(3) and 76(5)(b)”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 64: In page 74, line 2, after “subsidiary” to insert “or indirect qualifying subsidiary, as the case may be,”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 65: In page 74, line 4, after “subsidiary” to insert “or indirect qualifying subsidiary, as the case may be,”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 66: In page 74, line 6, after “subsidiary” to insert “or indirect qualifying subsidiary, as the case may be,”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 67: In page 75, line 20, to delete “Part 41A.”,” and substitute “Part 41A.”.

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I move amendment No. 68: In page 75, between lines 20 and 21, to insert the following: “(13) (a) Where a relevant loan is deemed to be repaid, in whole or in part, under paragraph (b), then no deduction shall be available under subsection (4) in respect of any external interest arising after the deemed repayment on the portion of the external loan, represented by the amount that...

Finance (No. 2) Bill 2023: Report and Final Stages (22 Nov 2023)

Michael McGrath: I will be responding to the amendment, so Deputies might as well make their contribution if they have one.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: National Treasury Management Agency (23 Nov 2023)

Michael McGrath: The NTMA has advised that its annual report for 2022 discloses ISIF’s shareholdings and contains, as at year end 2022, 11 companies which appear on the UN Human Rights Council database of business enterprises involved in certain activities related to the Israeli settlements in the occupied Palestinian territories as published by the UN Human Rights Council in February 2020 and updated...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: National Treasury Management Agency (23 Nov 2023)

Michael McGrath: The reply the Deputy will receive sets out a table drawn from the NTMA annual report. It gives a total over just under €4.2 million. My Department has been working with ISIF on the most appropriate way to address issues raised by the Deputy and the Private Members' Bill, including in the context of the forthcoming future Ireland fund and the infrastructure, climate and nature fund. ...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: National Treasury Management Agency (23 Nov 2023)

Michael McGrath: It is important we take a comprehensive approach to examining this issue. The UN acknowledged that the list it published was not complete or exhaustive. ISIF's policies in respect of environmental, social, and corporate governance, ESG, have demonstrated an ability to invest ethically. For example, under the Fossil Fuel Divestment Act 2018, at the end of last year, the fund had developed a...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vehicle Registration Tax (23 Nov 2023)

Michael McGrath: I thank the Deputy for raising this issue. He should note that vehicle registration tax is an emissions-based tax calculated on the value of the car. There is no specific VRT rate for cars with this type of technology. Under the Finance Act 1992, VRT is assessed on a vehicle at the time of registration in the State and the way it is calculated depends on the category of the vehicle...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vehicle Registration Tax (23 Nov 2023)

Michael McGrath: I thank the Deputy. The TY students are very welcome. I hope they enjoy their visit to Leinster House. To answer the question directly, we are open to examining what changes might be appropriate to the VRT system in a way that helps all our collective efforts to reduce accidents on our roads and the level of fatalities, which have unfortunately been going in the wrong direction in recent...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vehicle Registration Tax (23 Nov 2023)

Michael McGrath: We have seen far too many tragedies on Irish roads in recent months. There is not a household in the country that has not been impacted in terms of at least knowing somebody who has lost their life or who has been subjected to horrific injuries as a result of a road traffic accident. I have seen far too many of them in my community. I assure the Deputy that any policy that helps reduce the...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Vehicle Registration Tax (23 Nov 2023)

Michael McGrath: I am sure there is. I am happy to work with the Deputy on his specific proposal.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (23 Nov 2023)

Michael McGrath: Landlords are an essential feature of a functioning housing market. Rising rents are driven by a shortage of supply so stabilising and increasing the supply of rental properties should ease upward pressure on rental prices and make it easier for prospective tenants to find affordable homes. The new residential premises rental income relief is a tax relief at the standard rate of 20%...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (23 Nov 2023)

Michael McGrath: I think we can agree that we are witnessing the departure of a significant number of small-scale landlords from the Irish market. We need to have a functioning private rental market providing homes for individuals and families on an ongoing basis. When I look at the data, I can see the number of notices of termination that have been served. Over 24,000 were served from the third quarter of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (23 Nov 2023)

Michael McGrath: We discussed that issue in detail on Committee Stage of the Finance Bill and I gave a commitment that the officials in my Department would examine it in the context of the TSG papers. On the issue of the supply of homes, we need to have a functioning private rental sector. We are providing approximately €5 billion of capital to build more homes, including public homes, cost-rental...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Housing Schemes (23 Nov 2023)

Michael McGrath: The scheme was introduced in 2017 with the purpose of assisting first-time buyers with the deposit required to purchase or self-build a new house or apartment to live in as their home. The relief is only available in respect of new builds, with a view to increasing the supply of new housing and stimulating demand. To date, the scheme has been a significant support for first-time buyers of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Housing Schemes (23 Nov 2023)

Michael McGrath: I felt in the lead-up to the budget that providing certainty that the help-to-buy scheme would continue beyond 2024 for a further year to the end of 2025 was important for prospective homebuyers and would help stimulate supply, as builders and developers would know for sure the scheme would be there to support prospective house purchasers for the period in question. I believe that was the...