Results 5,221-5,240 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael McGrath: On that very important policy point, has the Minister received reassurance from the President of the ECB that not having a precautionary credit line does not make a country ineligible for OMT in the circumstances he has outlined in which there is a systemic risk to the euro? If that systemic risk exists, all countries could potentially benefit from OMT, even those that are not in a...

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael McGrath: Just generally.

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: 4. To ask the Minister for Finance if he is concerned by the significant issues that have been identified at an insurance company (details supplied); the reason the problem does not appear to have been identified in the first instance by the regulatory authorities in Ireland; the actions that can be taken to prevent similar events in the wider insurance sector; and if he will make a statement...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: The company to which I refer is not named in the question, but it is RSA Insurance Group. As the Minister knows, on 8 November the UK company issued a statement confirming that three senior executives in the Irish operation were being suspended as a result of some issues identified in the claims and finance functions in Ireland. Ultimately, this resulted in an injection of approximately...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: The bottom line is that as a result of the issues identified, an injection of €100 million had to be made into the Irish company. Thankfully, RSA is part of a UK group; therefore, the State and Irish policyholders were not on the hook for the additional money. If it had involved an Irish company only, potentially we were looking at another call on the insurance compensation fund and...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: What the Minister has stated confirms that on 1 November RSA brought the findings of the internal audit report to the attention of the Central Bank. Earlier in his first response he referred to findings the Central Bank had made, perhaps as far back as June, which it claimed had forms the basis of the internal audit work RSA subsequently undertook. It is important to get to the bottom of...

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: I very much welcome the opportunity to speak on behalf of Fianna Fáil in this important debate. I understand from the Minister’s introductory remarks that the motion will form the basis of a vote later this evening. Is that correct?

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: The motion is not about whether we will exit the programme because we are exiting the programme as a matter of fact on 15 December this year. The question that is being put to the House by the Government is whether the Government has made the right decision not to apply for a precautionary credit line. That is the essence of what we are debating. I very much welcome the fact that Ireland...

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: I would not go that far.

Written Answers — Department of Finance: Tax Credits (20 Nov 2013)

Michael McGrath: 15. To ask the Minister for Finance if he recognises that the removal of the one-parent tax credit will inflict significant hardship on many separated parents and jeopardise their ability to continue maintenance payments; and if he will make a statement on the matter. [49201/13]

Written Answers — Department of Finance: Banking Sector Issues (20 Nov 2013)

Michael McGrath: 25. To ask the Minister for Finance his view of the level of competition in Irish banking sector for both personal and business customers; the actions that can be taken to improve the level of competition; and if he will make a statement on the matter. [49203/13]

Written Answers — Department of Finance: Mortgage Arrears Proposals (20 Nov 2013)

Michael McGrath: 28. To ask the Minister for Finance the progress being made under the mortgage arrears resolution programme; if he is concerned by the significant rise in home repossession cases before the courts during October; and if he will make a statement on the matter. [49202/13]

Written Answers — Department of Finance: Credit Unions Restructuring (20 Nov 2013)

Michael McGrath: 30. To ask the Minister for Finance the timetable he envisages for restructuring of credit unions in financial difficulty; the way the sector can be supported to ensure it can continue to make a significant contribution to social and economic wellbeing here; and if he will make a statement on the matter. [49204/13]

Written Answers — Department of Finance: Corporate Tax Regime Issues (20 Nov 2013)

Michael McGrath: 33. To ask the Minister for Finance the actions he is taking to ensure the importance of Ireland’s corporation tax policy to the success of the economy is communicated to the European Commission’s current review on the subject; and if he will make a statement on the matter. [49205/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: I welcome Mr. Redmond and his colleagues from the Irish Tax Institute. On behalf of the Fianna Fáil Party I welcome today's announcement by the Minister that there will be no change for 2014 at least. I regard the announcement as a stay of execution. The Minister has again reaffirmed in his statement his intention to bring forward the pay and file deadline. There should be no loss...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: That means we have moved to a point at which paper returns are almost obsolete.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: How do the institute's members feel about the proposal to separate the filing date from the payment date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: Is Mr. Irwin strongly of the view that we should keep the pay and file deadlines on the same date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: Let me extend that logic. If the Minister wants the complete picture of tax returns in advance of the budget, presumably he would have to bring the pay and file date forward to the end of September. What would such a change mean for the institute's members and customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: I was surprised to see June suggested as an option in the consultation document. Mr. Irwin outlined the requirements that must be filed. People must pay preliminary tax for the current year and, to avoid surcharges and penalties, that must be at least 90% of the final liability for the current year or 100% of last year's liability or 105% of the year preceding that. People must also tidy...