Results 6,221-6,240 of 6,295 for speaker:Michael D'Arcy

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: I acknowledge what the Senator said and I will look at it.

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: Revenue has indicated that it uses a range of measures to target those involved in the illegal smuggling of goods, which include sharing intelligence on a national, EU and international basis, utilising analytics and technology, and ensuring the optimum deployment of resources. Revenue and An Garda Síochána work together on an ongoing basis in this area. Section 136 of the Finance...

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: I will not go over what Senator Horkan highlighted because much of it was cases presented. This is not a revenue-raising exercise. Changing the VAT rate on food supplements will result in a net neutral figure because while some supplements will go from 0% to 13.5%, others will go from 23% to 13.5%. That fact is often ignored. This must be clarified because people had differing views on...

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: Sorry, that statement was meant for the Dáil.

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: It is important to clarify that foods for specific groups, such as infant follow-on formula and infant foods, foods for special medical purposes and specially formulated foods will continue to be zero-rated. Foods that were correctly zero-rated in the early 1990s will remain at 0% VAT. Folic acid, vitamin and mineral products for human oral use, which are licensed by the Health Products...

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: During the Dáil Committee Stage of the Finance Bill 2017, the Minister for Finance, Deputy Donohoe, committed to providing a report to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach on the possible consequences of changes to the treatment of corporation tax loss relief in respect of banks. This report was sent on 31 August 2018 and was also published on...

Seanad: Finance Bill 2019: Committee Stage (Resumed) (3 Dec 2019)

Michael D'Arcy: The Urban Regeneration and Housing Act 2015 introduced the vacant site levy, which is aimed at incentivising the development of vacant or under-utilised sites in urban areas. When this matter arose in the Dáil, on foot of an identical amendment proposed by Deputy Pearse Doherty, the Minister for Finance gave a commitment to provide information to the finance committee regarding the...

Seanad: Finance Bill (Certified Money Bill) 2019: Report and Final Stages (10 Dec 2019)

Michael D'Arcy: I want to touch on a couple of the issues raised. I will start with the point at which average income earners move on to the higher rate of tax. It has been identified as a significant negative for taxpayers earning an average income in Ireland. We know it is an issue in terms of getting FDI jobs into Ireland. We know people move on to the rate of higher tax too quickly, when they earn...

Perjury and Related Offences Bill 2018 [Seanad]: Second Stage (11 Dec 2019)

Michael D'Arcy: It is good to have an opportunity to address the Bill. I have come from the Seanad, which has just passed the Consumer Insurance Contracts Bill. This Bill is another tool in the kit required to deal with insurance fraud. Legislation which has been passed with significant co-operation in both Houses are the Health Insurance (Amendment) Bill, the Central Bank (National Claims Information...

Perjury and Related Offences Bill 2018 [Seanad]: Second Stage (11 Dec 2019)

Michael D'Arcy: I apologise.

Seanad: Consumer Insurance Contracts Bill 2017: Second Stage (11 Dec 2019)

Michael D'Arcy: I would. I do not want to delay the Bill either, but I do want to discuss a number of aspects. The Bill involves a substantial overhaul of the law governing insurance contracts, as recommended by the LRC. It has been subject to a lot of scrutiny and a lot of work has gone into it. I compliment my Dáil colleague, Deputy Pearse Doherty, on the Bill. We have to ensure there are no...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: The level of co-operation is so complete-----

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: -----that Senator Conway-Walsh has read out my note.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: For the record, we looked at it again following Deputy Penrose's observations on Report Stage in the Dáil and we are satisfied that there will not be unintended consequences. We got specialist legal advice and our advisers were also satisfied about the constitutionality of what we are doing.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: I thank Senators for their remarks and acknowledge the widespread support for the change from three to five years. When we sat down with Deputy Pearse Doherty initially we agreed three years but I have no big problem with changing it to five years. If the insurance industry can provide data covering three years, then it can also provide it for five. That said, I must put it on the record...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: I want to start where the Bill started, that, is with Deputy Pearse Doherty and the LRC report. I thank Deputy Doherty. As I have said on many occasions in many different areas, in particular on the airwaves, the level of support I have received from both Houses in regard to insurance has been complete. Nobody has once been in any way obstructive in regard to legislation we have to get...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2019: Committee Stage (12 Dec 2019)

Michael D'Arcy: I wish to put on the record of the committee that amendments have not yet been agreed upon by Cabinet and prepared, but there will be amendments in the Seanad. The Bill will return to Dáil Éireann to discuss the subsequent amendments further to the conversation on what we pass today.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2019: Committee Stage (12 Dec 2019)

Michael D'Arcy: Yes, and possibly other matters. The amendments have not been concluded as of yet.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2019: Committee Stage (12 Dec 2019)

Michael D'Arcy: I am hopeful that we can get through Committee Stage today and get Report Stage done in the Dáil next week. We should get to the Seanad in January and I anticipate that the Seanad amendments will be back in the Dáil before the end of January so the legislation can be concluded. This has dragged on for three and a half years and I want to put it to bed.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2019: Committee Stage (12 Dec 2019)

Michael D'Arcy: The Deputy is talking about the Limited Partnerships Act 1907. That is part of the package that has increased the number of higher equity funds in Ireland. This act is not changing anything about that. That legislation is used for purposes other than alternative investments, and the change proposed by the industry would not be limited to collective investment schemes. They are not being...