Results 861-880 of 6,295 for speaker:Michael D'Arcy

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Yes.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Yes.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Section 17 is a standard provision requiring a senior member of staff to appear before the Committee of Public Accounts to answer questions in respect of HBFI's accounts, the efficiency with which it uses its resources or any report produced by the Comptroller and Auditor General relating to HBFI or a group entity. The section also incorporates a standard provision requiring a senior member...

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: What does the Senator mean by a statutory independent auditor?

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: That may be the case and a statutory order may be required in the event that HBFI issues debt on a traded market.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Section 24 provides that HBFI must, upon a request from the Minister for Finance, report on the achievement of its objectives with reference to section 7(2). This section also requires the Minister to produce a report as soon as possible after 31 December 2020, and every subsequent two years, setting out his or her assessment as to whether HBFI should continue to operate. In making his or...

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: We hope the HBFI is established as soon as possible. The process has been a bit slower than we would have liked.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Not yet.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: Senator Warfield was much more gentle with me.

Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)

Michael D'Arcy: We will be seeking applications for staff by the end of January.

Finance Bill 2018: Report Stage (Resumed) (21 Nov 2018)

Michael D'Arcy: He is very jovial right now.

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: Yes.

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: I wish to put on the record that the independent finding of the external consultants, Indecon, was that the scheme was too complicated. It is now being simplified so it will be easier for companies to apply for a better scheme. This has been made available online by Revenue. To put into context the complexity of the scheme, companies did not even know whether they were able to apply when...

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: The scheme as constructed is deemed to be too complicated in terms of application. Many companies applied. It took three months for their applications to be processed and they were then told that they did not meet the criteria. We are trying to simplify the scheme so that companies can self-certify and get up and running. As mentioned by Deputy McGrath, many people are of the view that we...

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: A very detailed examination of the operation of the EII scheme has just been completed and is available on the Department's website. The findings include the fact there is a continued need for the incentive but that the design of the relief is such as to cause major delays in obtaining approval. On foot of this, a package of priority measures has been brought forward in this Bill to address...

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: I did not say that.

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: Deputy Burton highlighted the financial services sector. To provide some context, not all financial services jobs are on the riverside and in the docklands. About one third of all jobs in the sector are in companies outside County Dublin, including some large employers. For example, Northern Trust in Limerick employs 1,400 staff, Pramerica in Letterkenny has more than 1,000 staff, State...

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: When senior executives are attracted here, others in less senior positions follow. Once this occurs, jobs follow and the special assignee relief programme, SARP, is playing an important role in that regard. The scheme will be analysed in 2019.

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: I do not believe we will accept anything further than what we have amended the Bill with on Report Stage.

Finance Bill 2018: Report Stage (20 Nov 2018)

Michael D'Arcy: We have come a long way to try to accommodate the feeling of individuals from Committee Stage. I simply do not see it. It is unfortunate that sometimes on some occasions individuals get caught, but I do not see the flexibility at this stage within what we have presented.