Results 26,561-26,580 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Reliefs (23 Nov 2023)

Michael McGrath: I propose to take Questions Nos. 107 and 108 together. I am aware of the contents of the Committee on Budgetary Oversight’s Report on Section 481 Film Tax Credit. I am also aware that the recommendations contained within the report cover a number of themes and policy areas for which responsibility lies across a number of Departments, and indeed, recommendations for action by the...

Written Answers — Department of Finance: Tax Data (23 Nov 2023)

Michael McGrath: I propose to take Questions Nos. 109, 117 and 132 together. Tax revenues to end-October stood at €66.5 billion, €2.5 billion or 4 per cent ahead of the same period last year driven primarily by income tax and VAT. Income tax receipts to end-October of €25.7 billion were up by €1.8 billion on the same period last year, while VAT receipts of €17.0 billion...

Written Answers — Department of Finance: Fiscal Policy (23 Nov 2023)

Michael McGrath: On 10 October 2023, I announced the Government’s intention to establish the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. The Heads of the Bill were published on 12 October and the Bill is currently in the process of being drafted. Under the draft Heads €2 billion will be invested in the Infrastructure, Climate and Nature Fund each year from 2024 to...

Written Answers — Department of Finance: Insurance Coverage (23 Nov 2023)

Michael McGrath: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. It should be noted that the provision of insurance cover and the price at which it is offered is a commercial matter for those providers and is based on an assessment of the risks they are willing to accept. Therefore,...

Written Answers — Department of Finance: Credit Unions (23 Nov 2023)

Michael McGrath: I thank the Deputy for his question. My policy, and that of Minister Carroll MacNeill is to support the progression of credit unions and enable the movement to become a composite provider of financial services to all members of society. The Deputy's question is focussed on young people. The core ethos of credit unions is to serve all its members and its community. Credit unions reach the...

Written Answers — Department of Finance: Debt Collection (23 Nov 2023)

Michael McGrath: The Deputy will be aware that resolving any debt issues requires engagement between the borrower and lender. Only through such engagement can solutions be found. There are a range of supports available for anyone, regardless of their age or circumstance, who is experiencing difficulties dealing with debt. The Money Advice and Budgeting Service (MABS) offers free impartial advice on dealing...

Written Answers — Department of Finance: Tax Credits (23 Nov 2023)

Michael McGrath: The legislation governing entitlement to the incapacitated child tax credit is contained in section 465 of the Taxes Consolidation Act 1997, as amended. An individual is entitled to the incapacitated child tax credit if he or she proves that at any time during the year of assessment, he or she has a child who is:under 18 years of age and is permanently incapacitated by reason of mental or...

Written Answers — Department of Finance: Insurance Coverage (23 Nov 2023)

Michael McGrath: As Minister for Finance, I have policy responsibility for the development of the legal framework governing financial services regulation, including for the insurance sector. It should be noted that the provision of insurance cover and the price at which it is offered is a commercial matter for those providers and is based on an assessment of the risks they are willing to accept. Therefore,...

Written Answers — Department of Finance: Insurance Industry (23 Nov 2023)

Michael McGrath: I welcome the commencement of the information sharing arrangements between An Garda Síochána and the Motor Insurance Bureau of Ireland (MIBI) which will help make our roads safer. The Irish Motor Insurance Database (IMID) will provide a resource for An Garda Síochána to combat uninsured driving, enabling it to verify to see if a vehicle is insured and if the driver is...

Written Answers — Department of Finance: Interest Rates (23 Nov 2023)

Michael McGrath: The Government fully recognises the difficulties that increasing interest rates, and the rise in the cost of living more generally, is causing for some mortgage borrowers. In view of this, on 31 August 2023 I met with the mortgage industry including the Banking and Payments Federation Ireland, CEOs and senior representatives of all the main mortgage lenders and servicers. The Central Bank...

Written Answers — Department of Finance: Financial Irregularities (23 Nov 2023)

Michael McGrath: Investment fraud is where criminals pose as investment managers to deceive someone into investing money in schemes and projects that do not exist. This type of fraud usually involves a level of social engineering, where victims are manipulated into making real-time payments to fraudsters, and in some cases can be carried out through authorised push payments. These type of frauds are called...

Written Answers — Department of Finance: Fiscal Policy (23 Nov 2023)

Michael McGrath: On 10 October 2023, I announced the Government's intention to establish the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. The Heads of the Bill were published on 12 October and the Bill is currently in the process of being drafted. The drawdown for the use of the "Climate and Nature" element of the Infrastructure, Climate and Nature Fund has been set to begin from...

Written Answers — Department of Finance: Legislative Measures (23 Nov 2023)

Michael McGrath: In order to allow appropriate time to consider the implications of Sinn Féin’s Private Members Illegal Israeli Settlements Divestment Bill 2023, I obtained Government and subsequent Dáil approval to a ‘timed amendment’ of nine months. The timed amendment, effectively accepted the principle of the Bill but differed in terms of how it can be made operational. It...

Written Answers — Department of Finance: Economic Growth (23 Nov 2023)

Michael McGrath: I propose to take Questions Nos. 127 and 185 together. Despite large and unprecedented economic shocks in recent years, the domestic economy has proven to be remarkably resilient. This resilience is most clearly illustrated by the strength of the labour market, where the unemployment rate averaged 4.5 per cent in the third quarter of this year. Indeed, government supports to date have...

Written Answers — Department of Finance: Financial Services (23 Nov 2023)

Michael McGrath: The regulation of commodity derivative markets, including commodity futures markets, predominantly falls under the EU Markets in Financial Instruments Directive (MiFID II). MiFID II was transposed into Irish law via Statutory Instrument 375 of 2017. MiFID II established a position limit and position management regime for all commodity derivative contracts traded on trading venues and...

Written Answers — Department of Finance: Commissions of Investigation (23 Nov 2023)

Michael McGrath: I wish to inform the Deputy that there are currently no commissions of investigation under my Department. My Department is a stakeholder in one commission of investigation, however, this is set up under the Department of the Taoiseach.

Written Answers — Department of Finance: Banking Sector (23 Nov 2023)

Michael McGrath: The Government approved the publication of the Retail Banking Review and the implementation of its recommendations on 29 November 2022. Each recommendation identifies the body or bodies responsible for delivery of that recommendation and, where appropriate, contain timelines for delivery of the recommendations. It is for the relevant bodies to consider and implement the recommendations...

Written Answers — Department of Finance: Departmental Strategies (23 Nov 2023)

Michael McGrath: I published the terms of reference, for the National Payment Strategy (NPS) on 27 June 2023. Since then a team in my Department has commenced this work. The Strategy will take account of the changing payment landscape and will consider ongoing legislative developments at EU level, including proposals on instant payments, payment services, legal tender and the Digital Euro. It will be...

Written Answers — Department of Finance: Fiscal Policy (23 Nov 2023)

Michael McGrath: I propose to take Questions Nos. 136 and 150 together. On 10 October 2023, I announced the Government’s intention to establish the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. The Heads of the Bill were published on 12 October and the Bill is currently being drafted. Under the draft Heads €2 billion will be invested in the Infrastructure, Climate and...

Written Answers — Department of Finance: Banking Sector (23 Nov 2023)

Michael McGrath: I fully understand the difficult situation faced by homeowners whose houses are affected by defective concrete blocks. The Government response to this issue is led by my colleague the Minister for Housing, Local Government and Heritage, who has put in place a scheme of financial support to help affected homeowners. As remedial works progress, homeowners will be eligible to apply for grant...