Results 22,641-22,660 of 27,945 for speaker:Michael McGrath

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Michael McGrath: I move amendment No. 61: In page 41, between lines 7 and 8, to insert the following: “(3) The Minister shall put forward a report outlining the cost and benefits associated with section 481 tax relief (relief for investments and films) within 18 months of the enactment of this Bill.”.This amendment relates to the Section 481 relief for investments and films. Last year the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Michael McGrath: As the Minister's response is reasonable, I will withdraw the amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Michael McGrath: It is a very significant hike. Is there an economic rationale behind it as well as it being a budgetary measure? Obviously, it brings in much-needed revenue. Is the logic that the higher the tax on interest earned, the more likely people are to spend their money as opposed to saving it? We know the level of savings is still quite high. Deputy Pearse Doherty referred to the An Post State...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (Resumed) (27 Nov 2013)

Michael McGrath: Yes.

Written Answers — Department of Finance: Property Taxation Administration (27 Nov 2013)

Michael McGrath: 37. To ask the Minister for Finance if he will arrange to amend the address details of a person (details supplied) in County Cork on the Revenue Commissioners' records in order that they can arrange to pay the local property tax; and if he will make a statement on the matter. [50893/13]

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: The budget documentation contains illustrative examples which take account of both spending and taxation. Annexe A of the documentation sets out seven examples of Joe and Mary. In six of these examples the budget has no impact.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: We will descend into farce if the Minister goes down that road.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: In one example, they take a hit of 1% because they have private health insurance. That is a farce.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: It is not representative.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: Come on, Minister, we have had a reasonably good session thus far.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: The budget was about much more than income tax.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: They should be fair and representative of the full impact of the budget.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: They were not. They were a joke.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: Not at all.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: My point is that when one is giving examples of how the budget impacted on different families, they should be representative. The examples take no account of the full year impact of the property tax, for example, because that was announced in the previous budget. It is completely ignored in this budget even though it hits pockets in 2014. Things like that mean the analysis is not meaningful.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: It is distorting the picture.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: I do not believe they are representative.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: I do not agree.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: If the illustrations are to be meaningful they should at least include a footnote stating that people will be paying twice the amount of property tax they paid last year.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance (No. 2) Bill 2013: Committee Stage (26 Nov 2013)

Michael McGrath: When John and Mary look at 2014, that is what they have to take into account. It is the reality for them.