Results 21,641-21,660 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Transport, Tourism and Sport: Semi-State Bodies (28 May 2014)

Michael McGrath: 135. To ask the Minister for Transport, Tourism and Sport the current credit rating of all commercial semi-State bodies operating under the aegis of his Department; and if he will make a statement on the matter. [23521/14]

Written Answers — Department of Children and Youth Affairs: Semi-State Bodies (28 May 2014)

Michael McGrath: 138. To ask the Minister for Children and Youth Affairs the current credit rating of all commercial semi-State bodies operating under the aegis of his Department; and if he will make a statement on the matter. [23509/14]

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: In practice, is the biggest problem not that the intellectual property is held offshore in jurisdictions where there is little or no corporation tax and then they are charging the other companies within the group and the profits are shifting and ending up in those destinations? In practice, is that not what is happening?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: If the other point is valid, Mr. McCaughey's point that Ireland is very attractive at 12.5% and the rules are being used legally to transfer profits into Ireland, then surely we would have a bonanza of corporation tax given the presence of multinationals here, and we simply do not have that? We get approximately €4 billion which, as Mr. Keegan stated, is 10% of our total tax take....

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: Who is the policeman of the transfer pricing rules? Is it the individual tax authorities in individual states? One of Mr. McCaughey's suggestions is that Revenue should be allowed assess the transfer pricing rules in both directions, whether it is resulting in the minimisation of profits coming into Ireland or maximising profits coming into Ireland. What would be wrong with that? Why do...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: I ask about the change in the Finance Act concerning stateless companies, that no company incorporated in Ireland can be deemed to be stateless from a residency point of view. Will that make any difference in practice?

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: I welcome Mr. Keegan and Mr. McCaughey to the meeting. I should declare an interest in that I am a member of Chartered Accountants Ireland. However, I assure the witnesses this will not colour my questioning. Members have heard two quite contrasting presentations from the two witnesses in attendance. Mr. Keegan has presented quite a black-and-white picture that companies incorporated in...

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation: Ireland's Corporate Tax System: Discussion (27 May 2014)

Michael McGrath: Would Mr. Keegan accept the international standard on transfer pricing is not up to standard and is inadequate?

Ceisteanna - Questions - Priority Questions: NAMA Operations (27 May 2014)

Michael McGrath: It is welcome that the report will be laid before the Houses before the summer recess because there is a big judgment call to be made on NAMA in the near future. It is clear that it has ramped up its disposal activity, is taking advantage of the more favourable conditions in the property market and ahead of schedule in the disposal of the overall loan and property book it acquired. This...

Ceisteanna - Questions - Priority Questions: NAMA Operations (27 May 2014)

Michael McGrath: An additional point is that if the property market is on the way up, NAMA and, by extension, the State stand to be the largest beneficiary and we could lose out in a rising property market if NAMA is forced to wind up early. That consideration needs to be taken into account. My information is no better than that of anybody else on what direction the property market will take in the next few...

Ceisteanna - Questions - Priority Questions: NAMA Operations (27 May 2014)

Michael McGrath: 4. To ask the Minister for Finance the position on the ongoing review of the National Asset Management Agency's operations; when the review will come to a conclusion; if he is considering an early wind-up of NAMA; and if he will make a statement on the matter. [23188/14]

Ceisteanna - Questions - Priority Questions: NAMA Operations (27 May 2014)

Michael McGrath: Today NAMA issued its annual report for 2013 and it seems to be making good progress towards achieving its objectives. This question relates to the suggestion NAMA will conclude its work ahead of the 2020 timeframe initially set for it. I note that both the chairman and the CEO said today that NAMA was well ahead of schedule in getting its job done and that the Department of Finance was...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (27 May 2014)

Michael McGrath: The key issue is that under EU law insurance firms can be licensed to sell services in Ireland while being fully supervised by their home regulators, which in the case of Setanta Insurance Company Limited was the Maltese regulator. The firm collapsed, leaving more than 70,000 Irish policyholders high and dry and out of pocket. In a reply to a recent parliamentary question the Minister...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (27 May 2014)

Michael McGrath: The real question is what lessons can be learned from the collapse of Setanta Insurance. Should we be making consumers more aware of the fact that certain firms licensed to sell insurance services in Ireland are not regulated in Ireland? It is mentioned in the small print and foot notes of the documentation provided, but people make a general assumption that a firm selling an insurance...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (27 May 2014)

Michael McGrath: 1. To ask the Minister for Finance to set out his views on whether sufficient protection is in place domestically for Irish customers of insurance companies which are regulated here for conduct of business purposes while being prudentially regulated overseas; his further views on the fact that Irish insurance consumers are exposed to inadequate prudential regulation of insurance companies in...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (27 May 2014)

Michael McGrath: The collapse of Setanta Insurance, which left approximately 75,000 policyholders high and dry, has prompted this question. We already had a Topical Issue debate on the matter some weeks ago. My main concern is that Irish consumers and insurance policyholders are potentially exposed to serious risk because they are buying insurance services from firms that are not regulated by the Irish...

Written Answers — Department of Finance: Mortgage Resolution Processes (27 May 2014)

Michael McGrath: 12. To ask the Minister for Finance his views on the rate at which the banks are dealing with mortgage arrears, in view of his Department's recent figures which show that three quarters of residential mortgages in arrears over 90 days are yet to have a long-term restructuring arrangement put in place; and if he will make a statement on the matter. [23031/14]

Written Answers — Department of Finance: EU State Aid Negotiations (27 May 2014)

Michael McGrath: 13. To ask the Minister for Finance his views on the length of time it takes the European Commission to approve budget day announcements which are subject to state aid rules; and if he will make a statement on the matter. [23034/14]

Written Answers — Department of Finance: Mortgage Interest Rates (27 May 2014)

Michael McGrath: 24. To ask the Minister for Finance his views on the increasing divergence between tracker mortgage rates and standard variable rates; his views on whether banks are using increased standard variable rates to subsidise loss-making tracker loans; and if he will make a statement on the matter. [23035/14]

Written Answers — Department of Finance: Small and Medium Enterprises Supports (27 May 2014)

Michael McGrath: 32. To ask the Minister for Finance when a State-backed enterprise bank will be established; the lending capacity of the bank; and if he will make a statement on the matter. [23033/14]