Results 6,801-6,820 of 27,945 for speaker:Michael McGrath

Seanad: Budget 2021: Statements (14 Oct 2020)

Michael McGrath: I have until 4.15 p.m. Is that correct?

Seanad: Budget 2021: Statements (14 Oct 2020)

Michael McGrath: I thank all the Senators for their contributions. I listened to them carefully. Many issues have been raised and different perspectives have been shared. It is important to say that this budget is from a coalition Government of three parties, Fianna Fáil, Fine Gael and the Green Party. All have had significant input. We have worked well collaboratively in the preparation of this...

Written Answers — Department of Public Expenditure and Reform: Public Services Provision (14 Oct 2020)

Michael McGrath: There has been a significant increase in the number of MyGovID accounts since the 28th of March 2020. MyGovID has seen a 38% increase in the number of basic accounts and a 51% increase in the number of verified accounts over this period, the full details of which are set out below. MyGovID Statistics on 28th March 2020 - Basic Accounts: 1,010,622 - Verified Accounts: 545,571 MyGovID...

Financial Resolutions 2020 - Budget Statement 2021 (13 Oct 2020)

Michael McGrath: The backdrop for budget 2021 is a truly remarkable one. INTRODUCTION At the same time, our country and our people are confronted with a once-in-a-century global pandemic and a generational shift in our relationship with our nearest neighbour, the United Kingdom. Covid-19 has changed completely the way we live our lives. While the damage to our economy has been immense, the ultimate...

Written Answers — Department of Public Expenditure and Reform: Community Employment Schemes (8 Oct 2020)

Michael McGrath: The Deputy will be aware that the matter of community employment schemes falls within the policy remit of my colleague the Minister for Employment Affairs & Social Protection. I have however a strong appreciation of the role of Community Employment Schemes in communities right across the country and I know this role could not be fulfilled without the leadership of the Scheme...

Written Answers — Department of Public Expenditure and Reform: Departmental Properties (8 Oct 2020)

Michael McGrath: There is no property in the specified locations under the direct control of my Department or the Office of Government Procurement, which is also part of my Department. Most State property which vests in the Minister for Public Expenditure and Reform under the State Property Act is controlled by other Government Departments and agencies and some of this property may be relevant to the...

Written Answers — Department of Public Expenditure and Reform: Travel Trade Sector (8 Oct 2020)

Michael McGrath: The Government has introduced a range of supports to assist businesses during this period including income supports via The Employment Wage Subsidy Scheme, the provision of direct grant aid through The Restart Grant Plus and commercial rates waivers provided by local authorities. . In addition to this a number of loan schemes have been expanded to provide additional liquidity supports such...

Written Answers — Department of Public Expenditure and Reform: Departmental Contracts (8 Oct 2020)

Michael McGrath: The information requested by the Deputy is set out in the table below. Responsibility for Project Ireland 2040 communications was assigned to my Department on 21 November 2018. Since that date, my Department has utilised the services of PHD Media Ltd and TBWA Dublin and spent €46,401.72 and €64,438.45 respectively on public information measures related to Project Ireland 2040...

Written Answers — Department of Public Expenditure and Reform: Departmental Staff (8 Oct 2020)

Michael McGrath: I wish to advise the Deputy that comprehensive details on my Department’s organisational structure, its Divisions and its senior management team (including their names and a description of all individual roles from Secretary General to Principal Officer level) are available on the ‘whodoeswhat’ website at the following link – .The email structure to contact...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: I thank the Chair and members of the committee for the invitation to meet in advance of budget 2021, which I will present to Dáil Éireann next Tuesday with the Minister for Finance, Deputy Paschal Donohoe. The economic and fiscal situation has changed dramatically in the past several months as the Covid-19 pandemic has had a severe impact on the economy, public finances, and the...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: My thanks to Deputy Farrell for the question. That is the budgetary framework that has been agreed by Cabinet. That is, in effect, as Deputy Farrell has correctly described, an estimate at this stage. That is what it is. It is a work in progress of the amount of Covid-19 related expenditure that we will have to incur again next year. It is subject to considerable uncertainty because it...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: We are very much working in ranges here. Let us consider health expenditure in 2020. A Revised Estimate with an additional €2 billion has already been brought forward to the House, as Deputies are aware. We have signalled that there will be further expenditure in health. Under the current Estimate, expenditure in the course of 2020 will be somewhere of the order of €2.5...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: Is Deputy Farrell talking about this year or next year?

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: What we have signalled so far is that on a no-policy-change basis, taking into account the expenditure framework that we have set out for 2021, we would be looking at a deficit of the order of 5%. That is before any new decisions we take on budget day. As Deputies are aware, we are also considering a recovery fund and considering making additional funding available next year that we can...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: In effect we are borrowing to fund the deficit. We are going to have a very large deficit in 2020, somewhere of the order of the mid-20s in billions. In net terms the addition to our national debt will be less than that because the National Treasury Management Agency, which manages our national debt, holds cash reserves. A significant proportion of that will result in additional debt and...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: I think it is important to put it in context. The capital budget for 2020 was a little under €8.2 billion. We made funding available on an exceptional basis of the order of an extra €1.5 billion during the year. Much of that was for grants. This would not be typical capital expenditure in the form of bricks and mortar. We provided approximately 1.5 billion extra on a...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: I thank the Deputy. It is a very fair question. We are looking at very significant borrowing again next year and we need to do that because it is the right thing to do. We need to support the Irish economy through 2021, and maintain and improve public services where we can. We are anxious to make progress on some core programme for Government commitments because the crises pre-Covid have...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: Very much so. There is a great opportunity for us as a country to make the investments that we need. We have the ability to borrow at historically low interest rates. There are infrastructure needs in housing, transport, education, health, climate action, renewable energy and so on. We need to make progress in those areas. Some of the capacity in the construction sector is probably...

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: Is the Deputy talking about the cost of borrowing for the Government?

Committee on Budgetary Oversight: Pre-Budget Engagement: Minister for Public Expenditure and Reform (8 Oct 2020)

Michael McGrath: They are two separate issues. On sovereign borrowing, while we are able to borrow at historically low interest rates we are taking on additional debt and while we have certainty about the servicing costs of that debt for the duration of the bond, it will mature and have to be refinanced. We could be in a very different environment when it comes to those debt instruments maturing. We need...