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Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

Feargal Quinn: Mr. Fielding is most welcome and I thank him for a clear, concise and detailed explanation of the position. I am keen for him to tell us something about the State-sponsored development fund or SME bank. How does he see it coming about? What will happen to it and how will it work? I have a certain amount of sympathy for banks which turn people down. Because we own the banks we must...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

Feargal Quinn: The delegates are very welcome and I thank them for opening our eyes to a great deal of information. Two delegates mentioned capital gains tax. What do they propose should happen? What is happening elsewhere? How different are we from what is happening elsewhere? My eyes were opened by the reference to the level of State help in capital grants for Scottish whisky. I did not know that....

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

Feargal Quinn: Is Mr. Chamney being listened to?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

Feargal Quinn: I thank Mr. Noonan and his colleagues for coming and giving us some understanding of the problems encountered in the area. I do not think the Small Firms Association will find a solution by asking the Government to put its hands in its pocket to do anything. I was delighted to hear some of the things Mr. Noonan said, but when he refers to enhanced Government funding, I do not think it will...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: (Resumed) ISME, IBEC and SFA (13 May 2014)

Feargal Quinn: I see that there is a vote in the Seanad so I must leave.

Seanad: Order of Business (14 May 2014)

Feargal Quinn: I support Senator van Turnhout's proposal to the effect that Senator Barrett should serve on the committee in question. Some time ago we requested that, as is the case in other countries, the VAT on defibrillators should be reduced to 0%. Has the relevant Minister managed to achieve any progress in this regard? Negotiations on the matter were due to take place at European level under...

Seanad: Public Health (Sunbeds) Bill 2013: Second Stage (14 May 2014)

Feargal Quinn: I welcome the Minister, and the legislation is welcome as well. About 40 years ago my wife and I bought a sunbed in order to use it at home. Within weeks my wife discovered that using sunbeds was not a healthy thing to do and the sunbed disappeared somewhere else. That is a reminder of how quickly attitudes change. Sunbeds are a bit like smoking, because we have known for years that...

Seanad: Seanad Electoral (Panel Members) (Amendment) Bill 2014: Second Stage (14 May 2014)

Feargal Quinn: I congratulate Senator Barrett on introducing this Bill, which has commenced a discussion and caused us to consider alternatives. The opinions expressed today have been interesting. One of the first Senators to contribute was Senator Keane, who referred to the Taoiseach's nominees. I tend not to agree with Senator Walsh, but not agreeing is what we are here to do. Normally, the system of...

Seanad: Order of Business (15 May 2014)

Feargal Quinn: I draw the attention of the House to the National Competitiveness Council, which urged us last week to avoid pay increases at this stage because we are losing competitiveness in the economy. It is an important point when we have strike threats coming from different areas. As soon as there is good news into the newspaper that the economy is doing reasonably well, there are demands for pay...

Seanad: Order of Business (27 May 2014)

Feargal Quinn: I am aware that every time I raise anything to do with the budget the Leader says it is a budgetary matter and discussion on it will take place at a later stage, but it is fair to mention that we live in an economy in which we do not have the freedom to tax people without realising that they have the opportunity to go abroad for goods or services, in particular with the Internet. My...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: I thank Ms Breheny for that explanation. The Irish Venture Capital Association has undertaken a very exciting project. Some of those figures are way beyond anything most of us would have known about. My main query is competition from abroad. Ms Breheny mentioned that the British are involved in tax competition. I remember some years ago a tax was introduced in Ireland which did not apply...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: Is the Irish Venture Capital Association being listened to?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: We have to work on that if we are going to encourage more investment in this area.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: Tell me something about the Irish Venture Capital Association. What is it and how did it start? How is it funded?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: Does it employ many people?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: The figures are quite high.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Access to Finance for SMEs: Discussion (Resumed) (27 May 2014)

Feargal Quinn: I want Mr. Shanahan to outline the role of the strategic investment bank. What does Forfás hope will happen? I am interested to learn more about the figure mentioned by him earlier. He said that 19% of SME applications in Ireland have been turned down but the percentage is only 12% in the rest of Europe. Will the discrepancy be solved by the strategic investment bank? How does...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Scrutiny of EU Legislative Proposals (27 May 2014)

Feargal Quinn: One of the issues we heard about was cross-Border movement, in other words a person who is registered in the North and comes across the Border to work without declaring, or the other way round, people here going North. Is that a particular problem? From what Mr. Cullen has said it does not appear to be in Ireland.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Scrutiny of EU Legislative Proposals (27 May 2014)

Feargal Quinn: That makes sense.

Seanad: Order of Business (28 May 2014)

Feargal Quinn: Figures last month indicated that consumer sentiment is higher than it has been for seven years, and there is a great confidence that what is happening in the economy will lead to success. I am very worried nonetheless about what I have heard on radio, particularly yesterday and at other times, about us having to change direction now. That is mainly coming from the Labour Party, and I can...

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