Results 2,001-2,020 of 35,129 for speaker:Seán Fleming

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Seán Fleming: Yes. There were informal meetings of the people who are involved.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Seán Fleming: I will respond briefly now. Deputy Barry asked about insurance. The gross premiums issued in the year in question was €1.4 billion and profit was 10% of that, or €142 million. If the Deputy believes the core of the problem with the insurance industry is the 10% profit, I disagree. The core of the problem lies with the other 90%, the costs, because the number and cost of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Issues: Minister of State at the Department of Finance (16 Dec 2020)

Seán Fleming: I will do so, and I will also respond to the Chairman's questions.

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Insurance (15 Dec 2020)

Seán Fleming: I thank Deputy Ellis for his remarks. There are some cases where a person getting a mortgage for a house may not require life cover but that does not apply in this case. In some cases it may be purchased with a higher cost. I met representatives of Insurance Ireland today and raised this matter. The meeting was nicely timed because I had notice of the Deputy's matter. They told me...

Saincheisteanna Tráthúla - Topical Issue Debate: Mortgage Insurance (15 Dec 2020)

Seán Fleming: I thank Deputy Ellis for raising the issue, which is obviously a very difficult one for the family concerned that wanted to purchase their own home. While I have an appreciation of the difficulties individuals may find themselves in as a result of the Covid-19 pandemic, neither I, the Minister for Finance, nor the Central Bank of Ireland can interfere in the provision or pricing of insurance...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Credit Unions (15 Dec 2020)

Seán Fleming: I thank both Senators for raising this issue. The Government recognises the important role credit unions play in society as a volunteer co-operative in the area of financial institutions. In the current environment, credit unions are appropriately focusing on the health and well-being of their volunteers and staff, and on continuing to serve the needs of their members. Credit unions are...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Credit Unions (15 Dec 2020)

Seán Fleming: As I already said, the Central Bank is independent in its role but I hope it is aware of this debate and takes it into consideration. It will not change its view on the matter but, at least, it will hear what is being said about it. The various credit unions should contact the Central Bank where they feel they need to make these payments. They can propose a mixture of a small dividend,...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I thank the Senators for raising this issue. The Minister, the Government and I have been consistent from the beginning. This payment was taxable from the day it was introduced. It always has been. There is a mass misconception about the taxation of the payment, which has always been possible. I hope to put the record straight. People who are not watching this meeting might not get the...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I wish to make a couple of points. The date of 5 August was mentioned because it was put on a statutory footing, but Senator Sherlock says it should be in the power of the Government to sort this out. Thank God we live in a democracy and the Government cannot do what it likes. It must go to the Dáil and the Seanad to change legislation when it affects people's income. I am worried...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: They are the words she used. She suggested the Government has the power to do this. Thankfully, the Government has no power to do it. Only the Oireachtas has the power and that is why we are here today. We do not have the power. The Government cannot unilaterally change the tax law.

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I will repeat what was said. Senator Sherlock said the Government should have the power to do this and should have done it anyway. Thank God we do not have the power. I do not subscribe to the philosophy that a Minister can sit in Merrion Street and change people's taxation regimes without reference to this House. It is essential that no Government should have the power to do this without...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: It is the Oireachtas that makes these changes. As to suggesting that the Government has the power to do what likes on Report Stage, it does not. If the Government does not have the numbers to carry what it wants on Report Stage, it does not carry. The Dáil and the Seanad carry it. A Minister or a Government does not run this House-----

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: -----aside from the numbers voting to support a Minister's point of view. No Minister can unilaterally change anything when it comes to these taxation matters, and I say "Thank God" for that and that we have a parliament. I would not like to have the route that was suggested. It might not have been intentionally suggested, but that is what was said today. The other point I wish to make is...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I take the Senator's clarification on what she meant. She meant the Government here in the Oireachtas tabling the recommendation. I interpreted her as suggesting the Government could unilaterally make a change by statutory instrument, through a Minister in his office. I accept she meant the Government could put it through the House because it has the numbers to do so. I take the point. I...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: By way of clarification, I listened closely to everything Senator Mullen said. From what I understand, he had a recommendation that was ruled out of order. The recommendation was effectively to insert a new section between sections 3 and 4. Section 4 is about home sharing host allowances in respect of the HSE providing a tax allowance for people looking after people in their houses so it...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I will respond to the issue the Senator has raised. My only point was that we are on section 4. I just want people to know what we are talking about in this section of the Finance Bill. I will not read out the section in full. It amends section 192BA of the principal Act, relating to an exemption in respect of certain payments made or authorised by the Child and Family Agency. Section 4,...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: We discussed this topic on Second Stage. To briefly summarise, the help-to-buy scheme announced in budget 2017 is an income tax incentive measure designed to assist first-time buyers with a deposit required to purchase or self-build a new home or apartment to live in as their home. The relief is only available in respect of new builds with a view to increasing supply. This measure is to...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: This issue was raised previously by Senator Higgins, including last year. There is a special section within the Revenue Commissioners, known as the large cases - high wealth individuals division, deals with high wealth individuals. It is important the public knows that these individuals are not treated in the same way as any other taxpayers. There is a special section in Revenue which...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I take on board the spirit of what the Senator said. If Revenue has more information available on the next occasion we come to deal with a Finance Bill, that information should be made available for consideration in the context of the drafting of that Bill. Given that a report was produced as recently as last year, we have the most up to date information available. The Senator's point is...

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: I am aware of the matters raised by the Senators and can advise that my officials have been in touch with their counterparts in Northern Ireland on the matter. I note that the relief applies not only to persons with a UK-based employment but also for employment in the EU and countries with which we have a double taxation agreement in compliance with Ireland's treaty obligations. While it is...