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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Corporate Taxation and Investment and Growth Strategies: Commissioner for Economic and Financial Affairs, Taxation and Customs (24 Jan 2017)

Michael D'Arcy: Even if the rate is fixed and agreed initially.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Corporate Taxation and Investment and Growth Strategies: Commissioner for Economic and Financial Affairs, Taxation and Customs (24 Jan 2017)

Michael D'Arcy: The CCCTB proposal runs to approximately 40 pages. How does Mr. Moscovici propose to tie in the corporate tax details of the 27 member states in a document that currently comprises 40 pages? Every country has thousands of pages of tax law which are all interpreted in their own manner. I do not see how a document of 40 pages can cover such a crucial decision under which each country is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU Corporate Taxation and Investment and Growth Strategies: Commissioner for Economic and Financial Affairs, Taxation and Customs (24 Jan 2017)

Michael D'Arcy: In this case-----

Written Answers — Department of Agriculture, Food and the Marine: Greyhound Industry (24 Jan 2017)

Michael D'Arcy: 523. To ask the Minister for Agriculture, Food and the Marine the frequency with which racing dogs are drug tested here; the number of winners that have been tested in the past two years after the race; if all winners could be drug tested after each race; the reason the 2015 drug test results have not been released; and if he will make a statement on the matter. [2712/17]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: Has the Department calculated what proportion of the 30% is agriculturally-impacted? Am I correct that the WTO tariffs are primarily attached to food?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: The agricultural sector will have a major problem if we end up with this scenario.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: Mr. McCarthy is in charge of modelling.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: He has modelled a WTO arrangement with the ESRI but has he modelled a trade war scenario?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: Should he?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: I am talking about a bit of both.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: Can I just qualify this because Mr. Moran mentioned the domestic standing group, DSG, which modelled nice gentle scenarios? Mr. McCarthy has modelled the World Trade Organisation because Theresa May said last week if a bad deal comes there will be no deal but he has not modelled what I described in the Banking Inquiry, as the Domesday scenario. He has done some but not all the modelling.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: The witnesses have not filled me with confidence about the level of preparedness for Brexit. I should not be saying this but surely somebody should have learned the lessons of the past. There were hard lessons learned which showed that the worst case scenario should have been modelled.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: No it was not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: The worst case scenario has not been modelled. A trade war is the worst case scenario.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: Let me finish, I know as a result of the speech by the Prime Minister, Theresa May, last week people are saying the worst case scenario was modelled. There is a worse case than a bad deal which is no arrangement falling on the WTO. The witnesses did not model a trade war, which could happen and could have a really catastrophic impact on the agricultural sector in this country. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: I hear what Mr. McCarthy is saying but does he hear what I am saying? It needs to be done.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: The witnesses hear what I am saying, that it should be considered.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: I have seen that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: I think that analysis needs to be considered, in particular there needs to be an alarm bell in the sectors that are most vulnerable. There could be individuals in the agricultural sector prepared to spend €200,000 or €300,000 on a dairy unit. They need to be told the projections are that this could happen. Mr. Moran is one of the most senior civil servants in the country....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Michael D'Arcy: He is no spring chicken in the Department.

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