Results 22,701-22,720 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Credit Institutions Resolution Fund (21 Nov 2013)

Michael McGrath: 60. To ask the Minister for Finance if payments made by the Exchequer under the credit union resolution fund are repayable in certain circumstance; the criteria for repayment; and if he will make a statement on the matter. [50038/13]

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael McGrath: 61. To ask the Minister for Finance the total amount of credit union deposits which are respectively covered and not covered by the deposit guarantee scheme; and if he will make a statement on the matter. [50039/13]

Written Answers — Department of Finance: Deposit Guarantee Scheme (21 Nov 2013)

Michael McGrath: 62. To ask the Minister for Finance the total amount of bank deposits which are respectively covered and not covered by the deposit guarantee scheme; and if he will make a statement on the matter. [50040/13]

Written Answers — Department of Education and Skills: Student Universal Support Ireland Administration (21 Nov 2013)

Michael McGrath: 71. To ask the Minister for Education and Skills the position regarding a Student Universal Support Ireland grant in respect of a person (details supplied) in County Cork. [49972/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: I was surprised to see June suggested as an option in the consultation document. Mr. Irwin outlined the requirements that must be filed. People must pay preliminary tax for the current year and, to avoid surcharges and penalties, that must be at least 90% of the final liability for the current year or 100% of last year's liability or 105% of the year preceding that. People must also tidy...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: Income tax from self-assessed returns amounts to approximately €1 billion. There could be a variation from forecasts of 15%, amounting to €150 million. This is 0.4% of total tax revenue and, in the context of a budget, it is around the margin of error. It is not significant enough to warrant the enormous destruction and risks outlined in the submission during the formal...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: I welcome Mr. Redmond and his colleagues from the Irish Tax Institute. On behalf of the Fianna Fáil Party I welcome today's announcement by the Minister that there will be no change for 2014 at least. I regard the announcement as a stay of execution. The Minister has again reaffirmed in his statement his intention to bring forward the pay and file deadline. There should be no loss...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: That means we have moved to a point at which paper returns are almost obsolete.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: How do the institute's members feel about the proposal to separate the filing date from the payment date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: Is Mr. Irwin strongly of the view that we should keep the pay and file deadlines on the same date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Proposed Changes to Pay and File Tax Date: Discussion with Irish Tax Institute (20 Nov 2013)

Michael McGrath: Let me extend that logic. If the Minister wants the complete picture of tax returns in advance of the budget, presumably he would have to bring the pay and file date forward to the end of September. What would such a change mean for the institute's members and customers?

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: I would not go that far.

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: I very much welcome the opportunity to speak on behalf of Fianna Fáil in this important debate. I understand from the Minister’s introductory remarks that the motion will form the basis of a vote later this evening. Is that correct?

Government Decision on Exiting Programme of Financial Support: Motion (20 Nov 2013)

Michael McGrath: The motion is not about whether we will exit the programme because we are exiting the programme as a matter of fact on 15 December this year. The question that is being put to the House by the Government is whether the Government has made the right decision not to apply for a precautionary credit line. That is the essence of what we are debating. I very much welcome the fact that Ireland...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: The bottom line is that as a result of the issues identified, an injection of €100 million had to be made into the Irish company. Thankfully, RSA is part of a UK group; therefore, the State and Irish policyholders were not on the hook for the additional money. If it had involved an Irish company only, potentially we were looking at another call on the insurance compensation fund and...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: What the Minister has stated confirms that on 1 November RSA brought the findings of the internal audit report to the attention of the Central Bank. Earlier in his first response he referred to findings the Central Bank had made, perhaps as far back as June, which it claimed had forms the basis of the internal audit work RSA subsequently undertook. It is important to get to the bottom of...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: 4. To ask the Minister for Finance if he is concerned by the significant issues that have been identified at an insurance company (details supplied); the reason the problem does not appear to have been identified in the first instance by the regulatory authorities in Ireland; the actions that can be taken to prevent similar events in the wider insurance sector; and if he will make a statement...

Ceisteanna - Questions - Priority Questions: Insurance Industry Regulation (20 Nov 2013)

Michael McGrath: The company to which I refer is not named in the question, but it is RSA Insurance Group. As the Minister knows, on 8 November the UK company issued a statement confirming that three senior executives in the Irish operation were being suspended as a result of some issues identified in the claims and finance functions in Ireland. Ultimately, this resulted in an injection of approximately...

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael McGrath: 1. To ask the Minister for Finance if he supports the view that the negotiation of a precautionary credit line for Ireland, subject to acceptable conditionality, would underpin a smooth exit from the troika programme and enhance our prospects of a sustainable return to the international bond markets; and if he will make a statement on the matter. [49472/13]

Ceisteanna - Questions - Priority Questions: Economic Policy (20 Nov 2013)

Michael McGrath: This question relates to the Government decision not to adopt a precautionary credit line regarding our exit from the programme. I look forward to our discussion on this at Question Time and later when we have statement on the programme exit. I would like the Minister to outline to the House why he has opted not to apply for a precautionary line of credit.