Results 3,241-3,260 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Customs and Excise (29 Mar 2023)

Michael McGrath: I propose to take Questions Nos. 82 and 83 together. Ireland’s tax law provides that the first supply of coal and peat in the State is subject to excise duty, in the form of Solid Fuel Carbon Tax (SFCT). SFCT applies at different rates to four categories of solid fuel: coal, peat briquettes, milled peat and other peat. SFCT is collected by Revenue on a self-assessment basis and...

Written Answers — Department of Finance: Business Supports (29 Mar 2023)

Michael McGrath: The Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs over the winter months. Details of the scheme are set out in Finance Act 2022. The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 30 April 2023. However,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: It is correct that it is not legally hypothecated. The question is whether the Deputy would really put it back up at the end of October. Would he go ahead with the carbon tax changes that are due to come into force in May and again in October?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: I ask the Deputy to bear with me.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: At least we knew what we were having to fund by way of an Exchequer intervention. The Deputy referred to the windfall tax. I heard my predecessor on a number of occasions make the point that the most effective way to do this was through the EU, and having an EU agreement. That agreement was reached last autumn and we are now legislating for it. The Minister for the Environment, Climate...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: The Deputy has danced around the issue a few times.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: I thank the Deputy. This is an issue we have discussed in other fora and the Deputy has acknowledged the reasons we have put forward as to why it was not possible to include oil and LPG as part of TBESS. I will briefly recap a couple of those reasons. It is not possible to calculate oil and LPG usage in the same manner as with electricity and metered gas mains. For energy sources such as...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: What I am telling the Deputy is that the Department of Enterprise, Trade and Employment is working on this issue. This scheme was committed to in the press release issued when the Government made the announcement regarding cost-of-living measures. It is not a scheme the Department of Finance can lead on because it is a grant-based scheme for businesses. It is within the Department of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: As I have said, those updates will be provided by the line Department.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: I do not have that information because-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: As the Deputy will know, there is a budget heading to the order of €650 million in the Department of Enterprise, Trade and Employment Vote for 2023 in respect of TBESS. There is therefore adequate capacity within the budget. The issue is getting a scheme up and running, rather than a financial constraint. It is about getting a scheme designed and operationalised. The Government and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: I hear the Deputy's frustration. If it was possible to deal with this issue in this Finance Bill, I would do so. I did follow up on the issue and engaged directly with the Revenue Commissioners but they reiterated their view and provided a strong argument as to why TBESS in the Finance Bill is not the best way of dealing with businesses that rely on oil and LPG. I accept that advice and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: The information we have is about the number of businesses that have registered and have claimed. It is publicly available information. The costings-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: My understanding is that the costings done by the Department of the Environment, Climate and Communications were based on a assumption of up to 400,000 businesses being eligible for this scheme.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: The actual cost was difficult to predict. This was due to the multitude of variables at play, which are not within the control of the Government. These include the average unit prices incurred by businesses for energy during the claim period and the corresponding reference period. This will influence how many businesses will satisfy the energy cost threshold, the contractual arrangements...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: As the Deputy knows, we increased the maximum benefit from €10,000 for a single-premises business to €15,000 and there was also an increase for businesses with multiple premises.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: It is from 1 September.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: Could the Deputy repeat that?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: I think the Deputy is working out an average there.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2023: Committee Stage (29 Mar 2023)

Michael McGrath: This is the information we have from the Department of the Environment, Climate and Communications, which did the costing. It was based on potentially 400,000 businesses across the period. About half of that cost was budgeted last year and not much of it was used. Regarding the balance in 2023, we are seeing the drawdown-----