Results 16,541-16,560 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Employment Affairs and Social Protection: State Pension (Contributory) Eligibility (8 Mar 2018)

Michael McGrath: 584. To ask the Minister for Employment Affairs and Social Protection the eligibility criteria for the State pension (contributory) that will apply for persons who will reach pension age in 2020; and if she will make a statement on the matter. [11400/18]

Written Answers — Department of Employment Affairs and Social Protection: State Pension (Contributory) Eligibility (8 Mar 2018)

Michael McGrath: 589. To ask the Minister for Employment Affairs and Social Protection if the year a person reaches the qualifying pension age is included in the number of years divided into the reckonable contributions when calculating the yearly average PRSI contributions for the State pension (contributory). [11501/18]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: I thank Mr. Thompson and Mr. Jackson for their attendance and for the opening statement. Perhaps Mr. Thompson could summarise his understanding of how the reformed system that will be brought about when the general scheme of the Bill is eventually enacted will work in practice in the event of another insurance collapse in Ireland and how will that be different from the saga we have had...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: In essence, in the event of a further collapse, instead of this 35% shortfall, the ICF will meet 100% of the cost of outstanding claims-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: -----and that will be funded by the levy. Is the 2% non-life levy that people are currently paying here to stay?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: To what level will the fund have to be built up? There is a very significant shortfall currently projected due to the work-out of the Quinn Insurance deficit. There is probably a decade or more of 2% contributions that will have to be paid in to clear that alone and then one must build up the fund. How does Mr. Thompson see that working its way through?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: I will ask Mr. Thompson about a related issue, the passporting into Ireland of insurance services. Ireland is part of the EU Single Market and it is allowed that firms such as Setanta can have their prudential regulation in another EU member state and be regulated here only for conduct of business purposes. Does Insurance Ireland have any concerns about the nature of the EU-wide regulation?...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: With regard to the outstanding claims that are caught up in the Setanta collapse, Mr. Thompson knows it has been a real nightmare for many because claimants have been left short and left waiting to get all of their legitimate claims settled. Of course, policyholders have been really left there in the sense that they have been informed that, legally, they could be held personally liable for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Michael McGrath: The legislation will not be retrospective so the resolution of the outstanding Setanta claims will be dealt with outside of this legislation. Is that not the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: I welcome Mr. Gurría and his colleagues. My first question is related not to the economic survey of Ireland but the OECD's work on digital taxation. We know that the European Commission is working on proposals for changes in how tech companies are taxed across Europe. I understand that the OECD is also doing work on this issue. Can Mr. Gurría confirm what work is being done and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: For a number of European countries, the issue is about taxing these companies and generating more tax revenue from this source. Is the OECD seeking to move in the same direction as some European countries, at least the larger countries, in moving to a turnover based tax for these companies, whereby the tax would be levied based on the users of the companies' services are located, rather than...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Ireland has been highly successful in attracting foreign direct investment. One of the tables in the survey shows that corporation tax receipts in 2011 accounted for 10% of all tax collected in Ireland and this figure had increased to 16% in 2017. In addition, 80% of corporation tax collected in Ireland is paid by multinational companies and the top ten companies or groups pay approximately...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Survey of Ireland 2018: OECD (8 Mar 2018)

Michael McGrath: Mr. Gurría referred to non-performing loans in the Irish financial system, which is also noted in the survey. While the level of non-performing loans is falling, it continues to be elevated compared with European levels. The OECD has referred to the need to reduce these loans. Does Mr. Gurría have a view on the different ways in which this type of loan can be reduced, for...

Written Answers — Department of Finance: Financial Services Regulation (20 Mar 2018)

Michael McGrath: 71. To ask the Minister for Finance the cost of regulating the financial sector in 2016 and 2017; the amount of regulatory fees collected by the Central Bank from each tier in the same period; the number of entities in each tier of regulated entity such as retail credit firm, licensed credit institution and so on in tabular form; and if he will make a statement on the matter. [11937/18]

Written Answers — Department of Finance: Mortgage Data (20 Mar 2018)

Michael McGrath: 72. To ask the Minister for Finance if a buy-to-let mortgage which has been on interest only since its commencement by agreement between a bank and a borrower can be classified as a non-performing loan; and if he will make a statement on the matter. [11977/18]

Written Answers — Department of Finance: Insurance Industry Regulation (20 Mar 2018)

Michael McGrath: 83. To ask the Minister for Finance the details of the liquidation of a company (details supplied); the mechanism by which persons will receive 100% of their claims; the timeframe involved in reaching a conclusion of this case; and if he will make a statement on the matter. [12357/18]

Written Answers — Department of Finance: Prize Bonds (20 Mar 2018)

Michael McGrath: 107. To ask the Minister for Finance the procedure for prize bond draws; the location they take place; the regularity with which they are run; the person or body that conducts the draw; if they are independently observed; if there is scope to have the draws publicised similar to the national lottery; and if he will make a statement on the matter. [12758/18]

Written Answers — Department of Finance: EU Directives (20 Mar 2018)

Michael McGrath: 108. To ask the Minister for Finance when he plans to sign the statutory instrument for the transposition of the Insurance Distribution Directive, specifically in relation to Articles 22.3 and 29.3 regarding the remuneration model; if he will await the outcome of the review by the Central Bank before implementing them; if he will avail of discretion to implement these articles until this...

Written Answers — Department of Education and Skills: Schools Building Projects Status (20 Mar 2018)

Michael McGrath: 255. To ask the Minister for Education and Skills the status of a new school building project (details supplied) in County Cork; the next steps and timeframe for the completion of the project; if his attention has been drawn to the substandard nature of the existing accommodation on site; and if he will make a statement on the matter. [12576/18]