Results 8,701-8,720 of 15,555 for speaker:Eoghan Murphy

Seanad: Commencement Matters: Tax Code (6 Dec 2016)

Eoghan Murphy: I thank the Senator for raising the matter. The Irish Government takes this issue very seriously. As Minister of State with responsibility for international financial services, I take the matter seriously. We have done a lot of work in recent weeks and months with the various stakeholders involved to make sure that we can progress this issue and get a satisfactory outcome for all concerned.

Statute Law Revision Bill 2016 [Seanad]: Referral to Select Committee (30 Nov 2016)

Eoghan Murphy: I move:That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 84A(3)(a) and 149(1).

Statute Law Revision [Seanad] Bill 2016: Second Stage (Resumed) (30 Nov 2016)

Eoghan Murphy: I thank the Deputies for their contributions to this debate. Statute law revision is a very interesting and important piece of work. Taking the contributions made by Deputies in the course of our discussion on Second Stage yesterday evening and Deputy Ó Snodaigh's continued contribution this evening, one can look back at these Acts seeking parallels with the present day. One can find...

Secure Rents and Tenancies Bill 2016: Second Stage [Private Members] (30 Nov 2016)

Eoghan Murphy: Earlier, the Minister, Deputy Coveney, outlined the Government's absolute commitment to resolving our national housing crisis. That crisis is affecting all parts of the housing sector, including the rental sector. Our approach must, therefore, be holistic and founded on the realisation that all parts of the housing sector are interlinked and interdependent. It was precisely because of rent...

Seanad: Commencement Matters: VAT Payments (30 Nov 2016)

Eoghan Murphy: I am pleased to have the opportunity to speak on the question of the VAT cash basis system, on behalf of the Minister for Finance. I thank the Senator for raising the issue. VAT is an EU tax and Irish VAT law is governed by the EU VAT directive. In respect of accounting systems, the VAT directive provides that VAT must generally be accounted for on an invoice basis, that is, VAT is payable...

Seanad: Commencement Matters: VAT Payments (30 Nov 2016)

Eoghan Murphy: I understand the Senator's point. I appreciate that he tabled his proposals in the best interests of businesses. The Government is conscious of the needs of business, particularly at present. However, increasing the threshold would cost the Exchequer €45 million but would benefit only 636 businesses. A cost of €70,000 for each of those businesses cannot be justified given...

Flood Insurance Bill 2016: Second Stage [Private Members] (29 Nov 2016)

Eoghan Murphy: I thank Deputy Michael McGrath for introducing this Private Members' Bill on the topic of flood insurance. It is an issue I understand well because it affects my constituency, Dublin Bay South. The Minister of State, Deputy Seán Canney, will also speak on the work being done by the OPW to improve flood defences and the corresponding knock-on benefits for increased flood cover....

Statute Law Revision Bill 2016 [Seanad]: Second Stage (29 Nov 2016)

Eoghan Murphy: I move: "That the Bill be now read a Second Time." I am delighted to bring the Statute Law Revision Bill 2016 to the House. The purpose of the legislation is to repeal spent and obsolete public general Acts enacted between 1922 and 1950. As the first comprehensive review of Acts enacted by the Oireachtas, this Bill will result in a significant reduction in the size of the Statute Book...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I thank the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach for this second invitation to discuss the emerging recommendations of the cost of insurance working group. I would like to update the committee today on the work I have been doing in the Department of Finance with the cost of insurance working group, which brings together all the relevant Departments and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: The Chairman and I might have a similar opinion but I will wait until later on when the working group has completed its work, if I may. It is a group I chair and I would need to consult with it. I will, however, speak directly on the issues raised by the Chairman. An initial point is that I very much appreciate the public consultations that took place because the meetings of the working...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: There is absolutely no point in this committee or the working group publishing reports if we do not have a detailed timeline around it. I have met the insurance companies and Insurance Ireland on this and have said to them that we are going to come with an ambitious and a detailed timeline for the implementation of every single recommendation we put forward. We want to show a determination...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: In so far as a monthly review is concerned, I have no problem with appearing every month before this committee to talk about what the working group is doing. From January, we will have two tasks - ensuring that the implementation of the recommendations is taking place, but we will be moving to other areas of the non-life insurance market as well. No doubt members of this committee have been...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: To correct something I just said, the court case has concluded and that is why we are waiting for the updated legal advice based on the conclusion of the court case. As regards sharing legal advice, I will have to check on that because we have had difficulties previously concerning what legal advice can be shared, and what happens to it upon sharing it. I cannot therefore give a commitment...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I will, yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: To clarify, when the Senator spoke of the elephant in the room, was she talking about these super-cycle trends whereby the insurance industry players follow each other up and down the hill depending on where the market is?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: The Senator is right to say that the State must not be a neutral actor in this. The State must intervene to protect consumers as well as protecting the insurance market. We need reform across a lot of areas. As the Chair also said, there is no silver bullet policy issue here. There is a range of complex policy responses that need to be taken. That is what our emerging recommendations,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: Data are the key to understanding everything, including the claims resolution process in the 70% of cases we cannot see. Data are also crucial to understanding how insurance companies are operating themselves, as well as being essential to consumers understanding exactly how their insurance premiums are priced. Data are also necessary to check fraud and cut out uninsured driving by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I have. In terms of the commitments that have been given to me by the insurance industry at our meetings, the industry has agreed that we need this database and it is willing to perform the necessary functions. We are using legislation to do this so as to ensure that there can be no uncertainty about what information is being sought and how it is to be presented. Following engagements of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I am speaking at a remove because the Judiciary is the Judiciary and I represent the Government. The separation of powers is important. Everything that has been happening in the UK post Brexit only underscores the importance of that separation to the people's faith in their judicial system and in their ability to have their natural and civil rights protected by an impartial system....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Rising Costs of Motor Insurance: Discussion (Resumed) (24 Nov 2016)

Eoghan Murphy: I have had no interaction with the Judiciary.