Results 19,961-19,980 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Housing, Planning, and Local Government: Social and Affordable Housing (3 Oct 2019)

Michael McGrath: 368. To ask the Minister for Housing, Planning, and Local Government the status of the roll-out of the affordable housing scheme and serviced sites fund; the number of housing schemes approved; and if he will make a statement on the matter. [40396/19]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: I welcome Mr. Ronan and his colleagues and thank him for his opening statement. Could he give us a sense of current practice regarding the products he and other members of the Irish Association of Health Stories sell? What is the overall mix? I know there are regional variations since the devolution in 2014 to local Revenue offices. What is the overall picture regarding the application of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: My question was about establishing current practice. Is this not currently applied to 70%, 80% or 90% of products sold in the stores of the association's members? What is current practice on the ground?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: VAT is applied at 23% on these products.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: Do we have a sense of the overall scale of this sector? How much is spent by consumers annually across the sector on what might be generally described as food supplements?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: If VAT was applied at 23%, even with a figure of €60 million, it would be in the region of €13 million or €14 million but Mr. Hurley is saying turnover could be much higher.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: I know the profile depends on the customer's individual circumstances and needs but what would be a typical monthly spend for a regular customer in the food supplement area? I am trying to get a sense of what the impact would be if VAT was applied 23% across the board on all of their purchases.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: We are looking at €10 or so extra on that if we apply the 23% VAT rate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: That would be a fairly typical customer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: That would be over €100 a year for the customer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: That is really helpful. In light of what Dr. Clare has said, I would be interested in her reaction to the Taoiseach's description in the Dáil some months ago of many of the products sold by her sector as snake oil.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Application of VAT to Food Supplements: Discussion (3 Oct 2019)

Michael McGrath: And inaccurate, presumably.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: I welcome the witnesses and thank them for their attendance. This an important engagement and an opportunity for us, on behalf of the people we represent, to hold the insurance companies to account, tease out issues and get some answers. I will start by continuing with the issue raised by Deputy Pearse Doherty regarding differential pricing, as it has been described. How does it work in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: I would like to bring this issue down to the level of Aviva policyholders who get their renewal notice in the post. In effect, Mr. Mahon is stating that if they just renew at the premium quoted on the renewal documentation, they will probably pay more than they would if they were a new customer or simply went online to get a new quote, which might well come from Aviva Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: That is fine. If we break this down to brass tacks, however, is it not the case that loyal customers, those policyholders with Aviva who renew year in and year out and do not ask questions, are the biggest losers? They are not availing of the cheaper premiums that would be available if they were new customers. Is it not that simple at the end of the day?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: Is it not the case that Aviva is taking advantage of consumer behaviour? To take the example of motor insurance, many people get their renewal policy in the post. That document will still not tell them what they paid last year. It is necessary to check up on that information. Customers look at those policy renewal documents and think that the figure presented is roughly what they paid the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: We have seen this issue in the banking system as well. The witness referred to it in utility companies. Of course, they do it. They offer a better deal if one is a new customer signing up whereas if one is locked into a contract, one cannot avail of that until the contract expires. This is not the only industry that is doing it. Banks are doing it for the biggest transaction that people...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: Mr. Quinlan is saying this is the reality of commerce and let the buyer beware.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: The consumer needs to shop around and he or she will probably achieve a saving if he or she shops around.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Sector: Discussion (Resumed) (3 Oct 2019)

Michael McGrath: I assume the same policy applies with Zurich and AIG.