Results 4,721-4,740 of 6,295 for speaker:Michael D'Arcy
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: I do not have the 2017 number. Anything before 2017 would not have been the full year, with Brexit's effect, because there were many conversations that would be required that started and did not finish, and licensing would not be concluded. As I said, we are pleased with where we are. It is important for people, which I am glad the Deputy outlined. It is no longer about the quantum of...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: It is a work in progress. Vice President Valdis Dombrovskis attended a European Financial Forum, EFF, a number of weeks ago. I think he was in here the following day. He outlined that it is something the Commission is progressing. It is a slow burner. Not everybody is in agreement - there is protectionism within the EU 27. We would like it to progress. We do not know where it will...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: The Minister, Deputy Donohoe, will address the matter of the market but I have one point before that. I have a concern that one third of the financial services sector is unregulated. Trillions of euro of products and services are traded worldwide, unregulated. We - regulators and legislatures - are catching up with financial services. Crypto-currencies are the best example of that. It is...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: The cost of insurance working group, a cross-departmental group, has a meeting every month and we raise all these issues. On average, motor insurance premia are down by 16% year on year. There has been an increase of 57% from the low point, but that was when there was a price war and the outcome of price wars never tends to be good. We are not going to see decreases of 57%. The employer...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: It would be because much good work is being done and it is not being spoken about. This is a work in progress and it will take time as there are constitutional issues. We asked the Law Reform Commission to consider whether the Oireachtas was capable of capping awards. We hope to have its paper back to us as soon as possible.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: Much has been done and there is much more to do. We still have the really hard bits and pieces to do.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (22 Feb 2018) Michael D'Arcy: The Minister, Deputy Paschal Donohoe, said he had not met any of the vulture funds. As a matter of record, I have not met of them any either.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: It is not.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: The Deputy will do whatever he wants anyway.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: I thank everybody who participated in the debate. I accept everybody's bona fides that we are here to try to do what we can to improve the insurance sector for those who require insurance at every level, whether it be car insurance, employer's insurance or any other version of insurance. We must, however, accept a couple of things. First, there is no silver bullet here. We have had...
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: That is one thing that we cannot get away from in this House with regard to insurance. One cannot have low premiums and high awards and one cannot get away from that. We have a high-awards system. The book of quantum that was discussed-----
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: -----is not the amount we would like it to be. The book of quantum is the assessment of what the awards were for the last three years. We ask and encourage the Judiciary to have cognisance of the book of quantum. Its members do not on some occasions and if that happens, it creates uncertainty for insurers and they have to underwrite by larger amounts. If an outlying case is awarded by a...
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: In the short period of time I have remaining, I wish to address the extreme weather event faced by the country. As Minister of State with responsibility for insurance, I ask people to be prudent in their actions should the forecast snow arrive. People pay for insurance to protect their properties, goods, etc. but they should not take undue risks. I know of people in certain professions who...
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: I did not hear the Deputy's last point.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: Deputy McGrath is wrong.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: Some politicians are a liability as well.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: We have established a protocol with Insurance Ireland but Deputy McGrath does not want to listen.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: Deputy McGrath can keep shouting and ignore the work that is being done.
- Motor Insurance: Motion [Private Members] (27 Feb 2018)
Michael D'Arcy: That is all he is doing - ignoring the work that is being done.
- Consumer Protection (Regulation of Credit Servicing Firms) (Amendment) Bill 2018: Second Stage [Private Members] (6 Mar 2018)
Michael D'Arcy: I wish to thank Deputy Michael McGrath again for the preparation of this Bill, and the other contributors to this debate this evening. As the Minister said earlier in the debate, it is important to put the issue in its broader context. Much has been done by the Government to help keep people in their homes, including the credit servicing legislation, the code of conduct on mortgage arrears,...