Results 4,741-4,760 of 34,872 for speaker:Seán Fleming

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: We specifically only asked about one, and perhaps it is the main agency. I do not know, but we will ask for further elaboration. We will note and publish the correspondence and seek further clarification on those items. This may be a good time to note that we want to put a procedure in place in relation to correspondence received during the summer. We cannot have a situation where...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: We will give the secretariat a holiday. We give it a few days at the end of the month.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: It is being circulated on the basis of it not having been published and I would ask people to respect that.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: The dates are around the end of July or the beginning of August, which is in three weeks' time-----

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: -----and then as early in September as possible. We will probably not receive much in August.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: We are talking about category A, although there will probably be no correspondence as there will be no opening statements, and category B which is from Accounting Officers. We are not talking about category C correspondence from individuals, which we never publish. We are talking about items that would be in the public arena arising from our public meetings, namely, category B. We will do...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: I am on the bottom of page 5. If any member wants to take up this issue, that would be useful as we approach the next budget because this information can be used in discussions of tax matters. It is not exclusive to the Committee of Public Accounts. We recommended separating the carry-forward losses for corporation tax between losses forward and capital allowances. We asked Revenue to...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: The legislation for REITs, through the taxation method of incentivising investment, is a form of social engineering which attempts to move Ireland towards rental accommodation and away from home ownership. Some might agree that is a good policy and some might not, but it means there is an incentive for a large number of properties coming on stream to go into the long-term rental market as...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: It is a big social issue.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: We will note the Minister's response and members can use that information in debates both now and in the future. The next item of correspondence is from Mr. Derek Moran, Secretary General at the Department of Finance, providing a response to matters raised at the meeting in May. It is a detailed response and I thank him for it. It is a good example of being on top of one's brief, as were...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: Yes. I ask members to pull me up on anything.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: I will do my best. I have had a glance of this only in the last 20 minutes. Essentially, in a liquidation the unsecured creditors, which can include trade creditors, come together and employ the liquidator - Revenue is regularly involved - to look after their interests and recover as much money as possible for them. The Minister is saying that when the Department came to the IBRC it had...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: Correct.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: NAMA.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: The Deputy is absolutely right. When one stands back and looks at this it is clear that, as a result of the banking crisis, we put most of the debt into NAMA for it to manage and to get the best return for the taxpayer. NAMA is a public body audited by the Comptroller and Auditor General. It has come before this committee and the finance and public expenditure committee. There is total...

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: He uses the word "disapplied". In other words, they are saying the normal provisions that would apply because this was-----

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: It took it out.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: It excluded it.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: No.

Public Accounts Committee: Business of Committee (11 Jul 2019)

Seán Fleming: If we think back to the NAMA legislation, it went through quite a lot of Dáil debate and discussion. The Minister had some documents out there well in advance. It was highly teased out. I am sure there are still flaws in it. We spotted the flaws in section 172 here as a result of our work ten years on, or perhaps it was known much earlier in the Department, but the Dáil did not...