Results 2,301-2,320 of 11,861 for speaker:Brian Hayes

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: He reduced betting tax, which was also a good idea. Obviously, the Deputy never goes to Leopardstown.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: To respond to the first question, it is not part of the general Government deficit because it was a payment for investment purposes. In those years when the contribution was going in, the general Government deficit-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: The question the Deputy asked was-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: As the money was going in for investment purposes it did not come out of the general Government deficit.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It was treated in that way. The Deputy is correct. There is €5.9 billion left in the non-discretionary side and he is also right in pointing out the Government's and the Commission's objective of spending close to €700 million for investment purposes. We are always looking at ideas for investment but there are two crucial issues here. I am sure he agrees with me on this....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: The amount was not €27 billion, €20 billion is being invested from the NPRF.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: Sorry I thought the Deputy said €27 billion. Some €20.7 billion has been invested in the years in question in the pillar banks. That investment is worth slightly more than €8 billion today, if we could sell it all off tomorrow. Obviously, there is an enormous deficit on the €20 billion we put in. In a circumstance where a deal were to emerge it would then be a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I thank the Deputy for acknowledging the significant improvement in recent years. As Deputy McGrath would be aware, these measures are not just an intellectual property or academic exercise. When one goes to third countries and speaks to Irish businesses, it makes a difference that these taxation agreements are in place because it gives them some certainty in trading with those countries. ...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I understand the point the Deputy is making. It is complicated by the fact that "global capital is as global is", it can go anywhere. In spite of the best efforts of national governments to capture the full tax liability of large global entities like this, it is the view of Government that the best possible agreements are brought about at OECD level. I have spoken at OECD conferences. The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I am grateful to be afforded the opportunity to deal with the draft ministerial order on the National Pensions Reserve Fund Act 2000. The draft ministerial order being discussed by the committee today will, if approved, formally suspend the payment of the annual contribution of 1% of GNP from the Exchequer to the National Pensions Reserve Fund in 2012 and in 2013. Both the budget for 2012...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It is good to be before the committee. On the first issue, there are three draft Government orders giving force of law in Ireland to new double taxation agreements with Egypt, Qatar and Uzbekistan. These are a draft order to update the double taxation agreement with Switzerland, a draft Government order giving force of law to a tax information exchange agreement with San Marino, and a draft...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: Any information on the tax turnover and other aspects required by the Revenue Commissioners are part and parcel of this and can be obtained through these agreements.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It is standard in the terms of the agreements we have negotiated.

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: This amendment removes the ministerial regulation-making powers that currently exist under section 182 of the 1997 Act, as these powers conflict with the Bank's regulation making powers under the Bill and are more appropriate for the Central Bank. These relate to the registration procedures and operations of credit unions.

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: This amendment removes the ministerial regulation-making powers that currently exist under section 182 of the 1997 Act, as these powers conflict with the bank's regulation-making powers under the Bill and are more appropriate for the Central Bank. These relate to the registration procedures and operations of credit unions.

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: This amendment changes the definition of "stabilisation support" to clarify that support may include funding unrelated to the reserve requirement. Such funding may be used to update the systems and controls of the credit unions and also may include the provision of financial and technical advice to the credit union. This is a recommendation of the Commission on Credit Unions at paragraph...

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: Amendment No. 157 amends subsection (2) by deleting the existing paragraph (b) which states that the bank may only approve stabilisation support if the credit union concerned has a shortfall in reserves caused by a short-term, non-recurring event. Instead, amendment No. 158 sets out when ReBo may recommend to the bank that a credit union should be stabilised. During the period of...

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: Amendments Nos. 160 and 161 are minor technical amendments. Amendment No. 160 clarifies that the support referred to in paragraph (c) is stabilisation support as opposed to restructuring support. We have already discussed those amendments as part of another group. Amendment No. 161 changes the reference from "this Part" to "this Act" as stabilisation support is to be provided by the...

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: Amendment No. 162 clarifies that the bank must have regard to the terms and conditions that the Minister considers appropriate to attach the decision to provide stabilisation support when making a decision on the approval of stabilisation support to a credit union. These terms and conditions will deal with issues such as recoupment which may affect the Central Bank?s assessment of viability.

Seanad: Credit Union Bill 2012 : Committee Stage (11 Dec 2012)

Brian Hayes: Amendment No. 167 is a minor amendment and inserts a reference to section 37D of the Credit Union Act 1997 which sets out the information to be included in the credit agreement notice to the credit union member. This item in the schedule is required to ensure there is consistency between the Credit Union Act 1997 and the Consumer Credit Regulations 2010, which apply to credit unions....