Results 5,501-5,520 of 6,295 for speaker:Michael D'Arcy

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: I will respond on the sections which I heard Senators raise. I did not hear all of the debate. I do not think anybody heard it all, so the criticism-----

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: I do not believe any Minister heard it all.

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: That is a matter for the House. From the perspective of the Department of Finance, last month Ireland launched its first sovereign green bond. That was a really welcome development. It was a €4 billion bond, which was oversubscribed, raised by the National Treasury Management Agency, NTMA, to put into projects that will be sustainable and green energy-led. These will be the future....

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: The GLAS policy is-----

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: The GLAS policy is a governmental policy which has been implemented by the farming sector. I thank all the Senators for their contributions this evening. The annual transition statement forms a key part of the accountability arrangements between the Government and the Oireachtas in terms of the Government's action on climate change. This year is the first year in which a number of other...

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: This requires a clear mandate to integrate the demands of climate action in the decision-making process of all our regulatory systems and programme evaluation throughout Government. Project 2040 and the ten year national development plan, which underpins it , is the first time an Irish Government has ever attempted to ensure that the future goal is compact and connected, reasonably balanced...

Seanad: Annual National Transition Statement on Climate Action and Low Carbon Development: Statements (4 Dec 2018)

Michael D'Arcy: The Leas-Chathaoirleach is very kind.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 1:In page 3, line 13, to delete “African Development (Bank and Fund) Act 2018” and substitute “Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Act 2018”. This amendment simply changes the Short Title and Long Title of the Bill to reflect amendments Nos. 3 and 4. These are technical provisions.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: A similar question was raised regarding the Asian Infrastructure Investment Bank, AIIB, Bill, when we passed it this time last year. On joining, as is the case with all development banks, our engagement with the African Development Bank Fund will be guided and informed. Ireland's overall approach to development, including in the areas emphasised by our international development policy, One...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: The bank has integrated safeguard systems unanimously agreed by the board of directors going back to 2013. That is the cornerstone of the bank's strategy to promote growth that is socially inclusive and environmentally sustainable. Additionally, as highlighted by the Multilateral Organisation Performance Assessment Network conducted in 2016, safeguards and standards are an area where the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 3:In page 5, after line 5, to insert the following: “PART 4 MISCELLANEOUS AMENDMENTSAmendment of International Finance Corporation Act 1958 7. The International Finance Corporation Act 1958 is amended—(a) in section 1, in the definition of ‘the Agreement’, by inserting “, and any amendments to the agreement that are approved by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 4:In page 5, after line 5, to insert the following:“Amendment of section 851A of Taxes Consolidation Act 1997 8. Section 851A of the Taxes Consolidation Act 1997 (No. 39 of 1997) is amended by inserting after subsection (9) the following subsection: “(9A) Nothing in this section shall prevent the due disclosure in the course of duties of taxpayer...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I will read the briefing note as this is an important provision. This section amends 851A of the Taxes Consolidation Act 1997. Section 851A provides the basis for confidentiality of taxpayer information. It also provides the basis for the circumstances in which such information can be disclosed by the Revenue Commissioners, including the limited circumstances in which such information can...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: The Department of Finance officials may have information relating to the tax status of a company. If there was a state aid case coming, the Revenue Commissioners would give information to the Department of Finance so that it could defend a position or formulate policy. It is the use of that information that is now allowed to go to the Information Commissioner.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes. It is confidential but it is allowed to be passed for the formulation of policy or, potentially, the defence of a state aid case. There is a conflict. There are two legislative measures, both of which disallow such a move.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes. A criminal sanction could apply in both cases.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: At present, the Revenue Commissioners can give the relevant information to the Information Commissioner but Department of Finance officials cannot. This rectifies the position.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Only for the purposes of policy can they receive information from Revenue for the formulation of policy or to defend a state aid case against the State.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes, the information is general and broad, but in some circumstances the information could identify the company, potentially, without anyone being told.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes, because it would be a criminal offence if that was done.