Results 20,841-20,860 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Mortgage Schemes (5 Nov 2014)

Michael McGrath: While it would be good to require some level of minimum deposit, a 20% deposit requirement would be excessive in the majority of cases. I would have thought a deposit of between 10% and 12% would be more realistic and achievable for people seeking to buy a home for the first time. It seems from a reply to a parliamentary question that I received last night that these rules will not apply to...

Ceisteanna - Questions - Priority Questions: Mortgage Schemes (5 Nov 2014)

Michael McGrath: It strikes me that a 20% minimum deposit requirement would be too onerous for many. A couple buying a house in Dublin for €300,000 would be required to have €60,000 put aside, which would be really tough. It would be unachievable by many who are renting at a time when rents are increasing quickly and simply do not have the capacity to save such an amount of money. This has...

Business of Dáil (5 Nov 2014)

Michael McGrath: Yes.

Ceisteanna - Questions - Priority Questions: Tax Credits (5 Nov 2014)

Michael McGrath: 1. To ask the Minister for Finance if he has considered the feasibility of allowing the proposed water charges tax credit to be deducted at source; the expected cost of administering it if individual taxpayers are required to make a tax return to claim it; the overall impact of water charges and the various reliefs on the public finances in 2015; and if he will make a statement on the matter....

Ceisteanna - Questions - Priority Questions: Tax Credits (5 Nov 2014)

Michael McGrath: This question relates to water charges and the tax relief which the Government has promised to provide and for which the Minister provided €40 million in the budget. As part of the package which will be announced, I presume in the next week or two, will the tax relief be provided at source? What is the overall position of Irish Water? Is it on or off balance sheet? It seems very...

Ceisteanna - Questions - Priority Questions: Tax Credits (5 Nov 2014)

Michael McGrath: I thank the Minister for the reply. He stated providing tax relief at source would result in Irish Water failing the market corporation test. That is the issue on which we need clarity. The €533 million to be provided next year from the local government fund will be accounted for in the general Government balance and thus will be on the balance sheet of the State. Is it the...

Ceisteanna - Questions - Priority Questions: Tax Credits (5 Nov 2014)

Michael McGrath: The Government has not ruled out the suggestion Revenue should in some way become involved in the collection of water charges. The Minister has overall responsibility for Revenue and needs to clarify the position on this matter. Because of the way Irish Water has been established as a commercial State company it is not open to the Revenue Commissioners to act as a debt collection agent for...

Written Answers — Department of Finance: Corporation Tax Regime (5 Nov 2014)

Michael McGrath: 10. To ask the Minister for Finance when he expects a knowledge development box to be in place; if he is concerned that delays in its introduction will disadvantage Ireland in seeking mobile investment; and if he will make a statement on the matter. [41753/14]

Written Answers — Department of Finance: State Banking Sector Regulation (5 Nov 2014)

Michael McGrath: 13. To ask the Minister for Finance the last occasion on which his Department carried out a valuation exercise in respect of PermanentTSB; the way the value of the State’s current holding may best be protected during the capital raising stage; the impact not having an agreed restructuring plan has had on the bank’s performance in the stress tests; and if he will make a statement...

Written Answers — Department of Finance: Insurance Industry (5 Nov 2014)

Michael McGrath: 14. To ask the Minister for Finance the action he will take to ensure persons with third party claims against Setanta Insurance are not left facing significant shortfalls in compensation particularly in the case of persons who suffered catastrophic injuries; and if he will make a statement on the matter. [41752/14]

Written Answers — Department of Finance: Illicit Trade in Tobacco (5 Nov 2014)

Michael McGrath: 15. To ask the Minister for Finance the actions being taken to combat the black market sale of tobacco products; his plans to allocate additional resources to this; and if he will make a statement on the matter. [41754/14]

Written Answers — Department of Finance: Credit Availability (5 Nov 2014)

Michael McGrath: 30. To ask the Minister for Finance if he will be able to assist small and medium-sized enterprise customers of banks who are engaged in a sale of their Irish loan books to re-finance their debts with a domestic lender; and if he will make a statement on the matter. [41751/14]

Written Answers — Department of Finance: Capital Allowances (5 Nov 2014)

Michael McGrath: 61. To ask the Minister for Finance if the ministerial order commencing section 268(1)(n) of the Taxes Consolidation Act 1997 capital allowances for aircraft hangars has been issued; and if he will make a statement on the matter. [42329/14]

Mortgage Arrears: Motion [Private Members] (4 Nov 2014)

Michael McGrath: I welcome the opportunity to contribute to this debate and thank Deputy Joan Collins and the other members of the Technical Group for tabling this motion. I apologise that I was not here to listen to some of the contributions so far as I had to attend a meeting of the Oireachtas Committee on Finance, Public Expenditure and Reform - the Minister, Deputy Noonan, is addressing pre-ECOFIN...

Mortgage Arrears: Motion [Private Members] (4 Nov 2014)

Michael McGrath: The code of conduct on mortgage arrears is at the heart of this motion. It was introduced in 2010 and has served borrowers well, in general, by providing a rule book lenders must abide by when dealing with people in mortgage arrears. The rule book was diluted by the current Government in 2013 when it allowed banks to move legally within 30 days against people who are deemed not to be...

Mortgage Arrears: Motion [Private Members] (4 Nov 2014)

Michael McGrath: The definition of a sustainable solution to a mortgage arrears problem is set out towards the back of the mortgage arrears targets programme document and it simply states that a bank must satisfy itself that the solution it offers the individual in arrears is sustainable. The bank acts as judge and jury despite the fact that it is party to the transaction and has a vested interested in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)

Michael McGrath: Let me move on to the financial transaction tax, FTT, which is also one of the legislative measures on the agenda on Friday. As the Minister indicated, ten or 11 member states signalled initially their intention to go ahead under the enhanced co-operation mechanism. They include France, Germany, Italy and Spain. The Minister's stated position is that Ireland will remain outside the FTT...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)

Michael McGrath: My instinct would be to agree with the Minister but I must ask whether there is evidence to back up that assertion. The Minister outlined what is clearly the Government's belief. Has the potential impact of the FTT on Ireland been examined independently?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)

Michael McGrath: If it replaced the stamp duty of 1%?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Pre-ECOFIN Briefing: Minister for Finance (4 Nov 2014)

Michael McGrath: The October agenda dealt with some aspects of banking. I wish to ask about the retroactive bank debt deal. Am I correct in saying today is the day on which the ECB takes over full powers as the single supervisory authority, and that the possibility of an application to the ESM opens today?