Results 141-160 of 234 for speaker:Michael Mulcahy

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Michael Mulcahy: I want to address amendments Nos. 2 and 4. I agree with certain of the sentiments in both these amendments, but the wording is such that I would be almost compelled to vote against them. Deputy Burton should remember it is not just high-flying executives of the banks who have share options but hundreds, if not thousands, of ordinary employees in the banks who are motivated to work harder...

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Michael Mulcahy: I wish to comment on some of the proposed amendments. The key concept in section 6 is flexibility on the part of the Minister for Finance. We are dealing here with six financial institutions, and potentially more than 30, which will have various obligations and share structures. It is fallacious to think that we can devise a "one size fits all" approach to assisting these institutions. It...

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Michael Mulcahy: Are we to set up another tier of expertise? We have people of the highest ability in the Central Bank and in the Financial Regulator's office and I will be damned if we are going to hire more people. It is an insult to these people to say they are not capable of providing expertise.

Credit Institutions (Financial Support) Bill 2008: Committee Stage (Resumed) and Remaining Stages (1 Oct 2008)

Michael Mulcahy: I agree with the proposal in amendment No. 21 tabled by Deputy Richard Bruton. There is no provision in the Bill that individual agreements should be laid before the House. I accept that there might be problems with confidentiality but, subject to that consideration, I believe individual agreements should be laid before the House. The proposal in amendment No. 24 is completely covered by...

Financial Resolution No. 3: Income Tax (14 Oct 2008)

Michael Mulcahy: It is unpalatable to the community at large when taxation has to be increased, no more so than in the case of this levy. On balance, however, it is a fair compromise given the other provisions in the budget and the need to raise revenue. Will the Taoiseach confirm the figures the levy will raise in revenue? People are prepared to contribute to raising revenue but I would temper that by...

Financial Resolution No. 3: Income Tax (14 Oct 2008)

Michael Mulcahy: I also support resolution No. 2 which provides a good re-balancing for the first-time house buyer. I am glad this and other measures have been targeted at the housing sector. Despite the problems in the construction sector, from my experience there is still much demand for houses, both local authority and private. Will the Taoiseach ensure the local authority scheme is closely monitored so...

Financial Resolution No. 13: Stamp Duties (14 Oct 2008)

Michael Mulcahy: I will consider the resolutions in order. I join other Members in supporting Financial Resolution No. 9, which deals with the pensions issue. The previous position was unnecessarily generous to high income earners and a threshold of €150,000 is totally acceptable. In general, I support all these resolutions. The Government is acting correctly to stabilise the national finances and to do...

Financial Resolution No. 13: Stamp Duties (14 Oct 2008)

Michael Mulcahy: Unearned income deserves to be taxed, given the state of the national finances, but this should be a temporary measure. At 20%, DIRT is too high. We should encourage people to save. If we do not, we are encouraging people to consume, to spend their money rather than save it. That is not a good idea. I wish to make a similar point on capital gains tax. I support the measure on a temporary...

Special Report on New EU Legislation: Statements. (20 Nov 2008)

Michael Mulcahy: I welcome the debate on this excellent report, which I will come back to in due course. It is worth remembering the genesis of this committee. Credit should go to all parties concerned. If I recall correctly, it was Deputy Ruairí Quinn who originally proposed the establishment of the scrutiny committee. The Labour Party introduced legislation in regard to the European Union (Scrutiny) Act...

Stabilisation of the Public Finances: Motion (Resumed) (4 Feb 2009)

Michael Mulcahy: I wish to share time with Deputy Conlon.

Stabilisation of the Public Finances: Motion (Resumed) (4 Feb 2009)

Michael Mulcahy: We will have five minutes each. It is important that there should be a mature appreciation not just in this House but among the population as to the seriousness of the current economic situation. It is perfectly right and reasonable to examine what we have done in recent years, to be positive where it is appropriate to be positive and to be critical where it is appropriate to be critical....

Financial Transactions (11 Feb 2009)

Michael Mulcahy: Let him finish.

Financial Transactions (11 Feb 2009)

Michael Mulcahy: Hear, hear.

Financial Emergency Measures in the Public Interest Bill 2009: Second Stage (19 Feb 2009)

Michael Mulcahy: I wish to share time with Deputy Kelleher. As the Title signifies, this is emergency legislation and it is deliberately drafted in this way because it is accepted by all parties that were things normal, such a Bill would not be required. If we begin from that base, we can acquire a better grasp and understanding of what the State needs to do. As the Taoiseach has made clear, the Government...

Financial Emergency Measures in the Public Interest Bill 2009: Second Stage (19 Feb 2009)

Michael Mulcahy: The more the business community is undermined and talked down, the more confidence in it will be destroyed. All public services require a vibrant business community to sustain everything. Without healthy companies and people setting up their own businesses and working hard to increase wealth, there will not be revenue for anything. Given the position in which we find ourselves, there is a...

Financial Emergency Measures in the Public Interest Bill 2009: Second Stage (19 Feb 2009)

Michael Mulcahy: Part of the way they have done this is to spread the myth that the downturn is an entirely Irish creation.

Financial Emergency Measures in the Public Interest Bill 2009: Second Stage (19 Feb 2009)

Michael Mulcahy: They are sleepwalking through the fact that virtually every western industrialised country is suffering its most severe recession or near depression for the past 40 years. They think Ireland is a unique case and it has done something particularly bad. I invite Opposition Members to visit Japan, Britain or the USA. In January, more than 500,000 people lost their jobs in the USA and every...

Criminal Justice (Surveillance) Bill 2009: Second Stage (29 Apr 2009)

Michael Mulcahy: I strongly but sadly support the legislation. I use the term "strongly" because I believe the legislation is essential in the war against organised crime and gangland terror. However, I use the term "sadly" to note that society has come to the point at which such legislation is required. The Minister will be fully aware that the courts have been vigilant in the protection of human rights...

Criminal Justice (Surveillance) Bill 2009: Second Stage (29 Apr 2009)

Michael Mulcahy: I understand Deputy Peter Power will take over after the sos.

Confidence in Government: Motion (resumed) (10 Jun 2009)

Michael Mulcahy: This Administration is approximately one year old.