Results 5,981-6,000 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (8 Apr 2014)

Michael McGrath: Many people who can afford to pay off their mortgages at an accelerated rate are deleveraging. There is a cohort who can do that. For many it is not an option. Rates are likely to remain low for tracker mortgages for the foreseeable future. Inevitably, however, they will begin to increase. As well as stress-testing the banks, the Department of Finance needs to stress-test mortgage...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: 4. To ask the Minister for Finance if he will provide an update on the assessment of the financial health of the credit union sector and on the number and extent of regulatory interventions and consolidations within the sector thus far and in the pipeline; and if he is satisfied that everything possible is being done to ensure the vital and unique role of the credit union movement is...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: I am sure the Minister will agree that the credit union sector is vital to the economy and the country and provides an important counter-weight for a banking sector that is still struggling to find its feet. Key issues affect the credit union sector as it is going through a transformation phase. There is much consolidation and credit unions are struggling under onerous lending...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: The figures the Minister outlined highlight that what we have in the credit union movement is a healthy overall sector, but there are a number of credit unions with serious financial difficulties. It is a question of bringing about the restructuring that is required in order that the weaker credit unions can be supported by the stronger credit unions, and to have such consolidation ideally...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: Another issue I wish to raise with regard to the sector is the Central Bank's initiative to deal with multiple debt scenarios. The credit union representatives have withdrawn from the Central Bank initiative because of what they regard as an imbalance in the treatment of secured and unsecured lenders. In their view it vests inappropriate control in the banks and lacks fairness and...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: 7. To ask the Minister for Finance the reasons the option of early encashment of AVCs has resulted in significantly less yield than expected; and if he will make a statement on the matter. [16172/14]

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: This question relates to the initiative in budget 2013 pertaining to early access to certain additional voluntary contributions, AVCs. I support this worthwhile initiative, but the figures for the drawdown thus far have been disappointing. The expectation at the time it was announced was that in the first year the additional amount would be approximately €100 million, and that the...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: I thank the Minister. The issue of early access to pensions raises its head every now and then. It is an important issue that needs to be debated. The scope of what the Minister introduced in budget 2013 was quite narrow. For example, employer-paid contributions were excluded, as were regular employee contributions, self-employed personal pensions, normal PRSAs and AVCs which were made...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: I agree that early access can only be allowed in very limited circumstances and that it is policy to encourage people to provide for their retirement, but one of the reasons some people are reluctant to join a private pension scheme is they believe, rightly, that the money will be locked away for a very long time and that, come what may in their own lives - as we know, life throws the...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: Yes.

Written Answers — Department of Finance: Tobacco Seizures (8 Apr 2014)

Michael McGrath: 12. To ask the Minister for Finance if he is concerned by the sharp decline in revenue seizures of illicit tobacco products; if this reflects a reduction in resources available to the Revenue Commissioners; and if he will make a statement on the matter. [16173/14]

Written Answers — Department of Finance: EU-IMF Programme of Support (8 Apr 2014)

Michael McGrath: 21. To ask the Minister for Finance if he will request permission to repay Ireland’s IMF loans prior to the maturity dates without triggering the need to repay other loans under the EU-IMF programme; and if he will make a statement on the matter. [16171/14]

Written Answers — Department of Finance: Banking Sector (8 Apr 2014)

Michael McGrath: 22. To ask the Minister for Finance if he has expressed concern to the European Commission at the delay in concluding an agreement on the restructuring plan for Permanent TSB; and if he will make a statement on the matter. [16170/14]

Written Answers — Department of Finance: Tax Code (8 Apr 2014)

Michael McGrath: 43. To ask the Minister for Finance the steps being taken to ensure that the European Commission investigation into aspects of Ireland’s corporation tax regime is concluded in a timely manner and in a way that does not damage Ireland’s economic interests; and if he will make a statement on the matter. [16169/14]

Written Answers — Department of Finance: Bank Charges (8 Apr 2014)

Michael McGrath: 81. To ask the Minister for Finance if he will provide full details, for each bank, of maximum level of charges relating to certain products and services which have been approved by the Central Bank of Ireland under section 149 of the Consumer Credit Act 1995, and for each such charge; if he will confirm the current charge being levied by the bank concerned; and if he will make a statement on...

Written Answers — Department of Finance: Property Taxation Data (8 Apr 2014)

Michael McGrath: 124. To ask the Minister for Finance the number of persons who have been subject to each of the following sanctions in respect of the household charge for 2012: mandatory deduction at source from salary or occupational pension, surcharge on income tax, corporation tax or capital gains tax returns, referral to the Sheriff for collection, referral to the Revenue Commissioners' solicitors for...

Written Answers — Department of Finance: Tax Yield (8 Apr 2014)

Michael McGrath: 125. To ask the Minister for Finance the yield from stamp duty on credit and debit cards and yield from stamp duty on cheques in each year from 2008 to 2013; and if he will make a statement on the matter. [16416/14]

Written Answers — Department of Finance: Tax Reliefs Cost (8 Apr 2014)

Michael McGrath: 126. To ask the Minister for Finance the tax expenditure associated with interest relief on buy-to-let properties in each year from 2008 to 2013, inclusive; and if he will make a statement on the matter. [16417/14]

Written Answers — Department of Finance: Tax Yield (8 Apr 2014)

Michael McGrath: 127. To ask the Minister for Finance the yield from the high earners restriction in each year since it was introduced; and if he will make a statement on the matter. [16418/14]

Written Answers — Department of Finance: Employment Investment Incentive Scheme (8 Apr 2014)

Michael McGrath: 128. To ask the Minister for Finance the tax expenditure, the number of participants and jobs supported under the employment and investment incentive and seed capital scheme in each year since its inception; and if he will make a statement on the matter. [16419/14]