Results 701-720 of 6,295 for speaker:Michael D'Arcy

National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Second Stage (Resumed) (30 Jan 2019)

Michael D'Arcy: The Bill legislates for what has been termed the "rainy day fund", a commitment in A Programme for a Partnership Government and an important element of the Government's strategy to put our national finances on a sound footing while building resilience to external shocks, and there can be external shocks for which none of us is prepared. That is what the Bill is for. A number of Deputies...

Seanad: Nithe i dtosach suíonna - Commencement Matters: VAT Exemptions (30 Jan 2019)

Michael D'Arcy: To address the Senator's direct request to me, the Department is reviewing this matter. That commitment was given by the Minister for Finance on Committee Stage of the Finance Bill in October last. On a point of clarification, basic vitamins, minerals and fish oils are zero rated. The standard rate of VAT applies to food supplements. However, there is a Revenue concession which allows the...

Seanad: Nithe i dtosach suíonna - Commencement Matters: VAT Exemptions (30 Jan 2019)

Michael D'Arcy: There are thousands of products to be analysed to determine whether zero rating, a 23% rate or potentially a different rate should apply. This will depend on the advice of the tax strategy group. From speaking with the Minister for Finance, Deputy Donohoe, I know that a fair hearing will be given to this. I know there are peculiar anomalies with food. As the Senator mentioned, products...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Schools Building Projects Status (30 Jan 2019)

Michael D'Arcy: I think it is your constituency as well, a Chathaoirligh.

Seanad: Nithe i dtosach suíonna - Commencement Matters: Schools Building Projects Status (30 Jan 2019)

Michael D'Arcy: I thank the Senator for raising this matter. A new school building for Gaelscoil Chionn tSáile is included on the Department's six year capital programme. The project is to provide is a permanent school building for the Gaelscoil which is currently in temporary accommodation. In that context, the Department of Education and Skills has been working closely with Cork County Council under...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Schools Building Projects Status (30 Jan 2019)

Michael D'Arcy: I will speak directly with the Minister on the matter and try to get officials from his Department to provide an update on where matters are with the Chief State Solicitor's office. The objective of the exercise is to move on to the next stage.

Saincheisteanna Tráthúla - Topical Issue Debate: VAT Rate Increases (29 Jan 2019)

Michael D'Arcy: The standard rate of VAT applies to food supplements. However, there is a Revenue concession which allows a zero rate to be applied to certain types of food supplements such as vitamins, minerals and fish oils. The practice of zero rating vitamins, minerals and fish oil food supplements has been applied since the introduction of VAT in November 1972 when the marketplace for food supplements...

Saincheisteanna Tráthúla - Topical Issue Debate: VAT Rate Increases (29 Jan 2019)

Michael D'Arcy: I want to clarify that the Minister for Finance stated on Committee Stage, and Deputy Barrett was present, that he would not interfere with the Revenue Commissioners. They are independent of the Department of Finance, and the Deputy knows that well. The Revenue has decided to bring clarity to the matter. What the Minister committed to doing, which was more than fair and reasonable, was to...

Saincheisteanna Tráthúla - Topical Issue Debate: VAT Rate Increases (29 Jan 2019)

Michael D'Arcy: The Deputy should have called a vote on it, if he wanted to, but I do not believe he did at that stage. I will not comment on an individual case on the floor of the Dáil as I do not believe it is appropriate. However, from my perspective and the perspective of the Minister, Deputy Donohoe, the food and supplements sector will get a fair hearing from the Department of Finance. When the...

Saincheisteanna Tráthúla - Topical Issue Debate: VAT Rate Increases (29 Jan 2019)

Michael D'Arcy: The Revenue Commissioners are independent of this Chamber and of the Department of Finance, as the Deputy knows well.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: Central to our engagement with the banking fund is the importance Ireland places on ensuring that its operations are held to account against robust standards in terms of human rights, social, environmental, gender and governance matters. In that regard I note that the bank has in place a strong operational framework and standards, with the bank's integrated safeguard systems being the...

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: That report is laid before the Houses.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: Yes.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: I thank everybody for their helpfulness, and not just with this Bill. I have brought seven pieces of legislation through Dáil Éireann and Seanad Éireann, so I thank everybody for their frank comments, support and strong contributions on those Bills. I also wish Members and the staff attached to the Houses a very happy Christmas. We will see them back here next year for more...

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: I propose to take amendments Nos. 1 and 2 as a group.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: The concerns which are reflected in the amendment proposed by the Senator are relevant in the context of our membership and engagement with the bank and fund. Human rights and climate action issues are fundamental drivers of our international development policy which underpins, informs and shapes our engagement with all international institutions. However, as a general principle, it is not...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: I thank Senators for the constructive approach they have taken to considering this Bill. A number of relevant issues were raised in the House during the discussion of the Bill. I note that there is broad support for the essential purpose of the Bill, which is to enhance transparency and facilitate the use of data sharing and collection to the level we see in other jurisdictions. The...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: These two amendments are being taken together and they remove the definition of securitisation for special purpose entities and the provision that securitisation for special purpose entities was not included in the definition of credit servicing firms subject to certain conditions. The second amendment also removes the provision that a person authorised to carry on the business of a credit...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: Nobody questions anybody's bona fides on this issue. The question is fair. The Bill was not designed to regulate private equity funds. Currently regulated by law are the agents, the credit-servicing firms. Deputy Michael McGrath presented this Bill and the Department of Finance and others participated in a very collegiate way to try to do the best we can for these structures. We have...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: It is my intention the Bill will be commenced as soon as possible upon enactment, most likely in January of next year.