Results 9,081-9,100 of 15,555 for speaker:Eoghan Murphy

Topical Issue Debate: Consumer Prices Data (27 Oct 2016)

Eoghan Murphy: I thank the Deputy and I note that point. The Department of Finance is looking at the sterling-to-euro exchange rate from a macroeconomic point of view. The point the Deputy raises is very interesting and relates to the extent to which, if any, changes in sterling that should be to the advantage of an Irish consumer are actually being felt by the Irish consumer. I have already outlined...

Topical Issue Debate: Consumer Prices Data (27 Oct 2016)

Eoghan Murphy: I thank the Deputy for raising the issue and also for providing me with a copy of the table she produced. I commend her on taking the time to put it together. It is an interesting piece of work. I should note at the outset that this is primarily a consumer issue, and as such is primarily a matter for my colleague, the Minister for Jobs, Enterprise and Innovation. It would be a cause...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (19 Oct 2016)

Eoghan Murphy: I thank Senator Swanick for raising the matter of the Ireland Strategic Investment Fund, commonly referred to as the ISIF, and certain investments made by that fund. I raised this issue as an area of concern in the previous Dáil. By way of introduction and context, it is helpful to consider the evolution of the ISIF's investment portfolio. On the 22 December 2014, the National...

Seanad: Commencement Matters: Ireland Strategic Investment Fund Investments (19 Oct 2016)

Eoghan Murphy: The Senator's intentions in this area are sound. I note that these are legacy holdings and that there is currently a review under way, both in terms of the fund's investment policy and its exclusion policy. Now is the time to engage on this front. In regard to the work which the Senator intends to pursue, he might want to look to Norway and its ethical policy for its pension fund, which is...

Seanad: Budget 2017: Statements (11 Oct 2016)

Eoghan Murphy: I am very pleased to have the opportunity to contribute to the Seanad's debate on budget 2017. The Minister for Finance and the Minister for Public Expenditure and Reform presented the Government’s first budget to Dáil Éireann earlier today. A number of key themes run through this budget - fairness, protecting our hard-won economic recovery, housing and preparing for...

Seanad: Budget 2017: Statements (11 Oct 2016)

Eoghan Murphy: I thank Senators for the opportunity to speak on this important debate on the budget. I have a number of notes and I hope to get to every point raised by each Member. I will do my best to leave my party political hat at the door but it may be difficult at times. I will leave my neoliberal hat at the door anyway. I always thought I wore a Lakean neo-Wilsonian hat. That is what I used to...

Other Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: In Ireland, the provision of insurance through private companies has been the norm for a long time. This is an operational model which has in general been shown to work well and efficiently. It is acknowledged that over the last 18 months or so, there have been some difficulties with aspects of the system, particularly in relation to the availability and cost of motor insurance. However, a...

Other Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: I do not want to get ahead of the potential recommendations of the working group, but we are looking at the operations in other jurisdictions and different models that are happening in Canada, New Zealand and Australia. We are also looking at new ideas like peer-to-peer insurance. We are looking at everything and I am not going to pre-judge the outcome of what we are doing. Setting up a...

Other Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: On the Deputy's final point, we are looking at the issue of taxi drivers. We are meeting with every interest group that we can, either in the plenary session where we met with the hauliers earlier this morning as well as representatives of the car rental companies, or with taxi drivers, with whom we are meeting tomorrow, I think, or possibly later in the week. I am not going to be led by...

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: The cost of insurance working group, which I chair, is undertaking a review of the factors which are influencing the increased cost of motor insurance. The working group brings together all the relevant Departments and offices involved with the process. Its objective is to identify immediate and longer-term measures which can address increasing costs while bearing in mind the need to...

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: At present, we are trying to build consensus on the causes of the increases in premiums. There are many different voices and a great deal of noise so we are trying to distil the information as to what is causing the increases. If we can get a breakdown of the premium and look at the different component parts that are driving up the cost, we can implement measures for each one. For example,...

Ceisteanna - Questions - Priority Questions: Motor Insurance Regulation (29 Sep 2016)

Eoghan Murphy: I thank the Deputy. This is my political priority. It is incredibly important for people throughout the country. Despite the gains being made in the economy at present through tax reductions and people getting back to work, people are not feeling it in their pockets because they are experiencing this rise in insurance premiums. It is hitting every aspect of the economy, including tourism,...

Seanad: Commencement Matters: Regional Airports (28 Sep 2016)

Eoghan Murphy: I thank Senator Mulherin for raising this important issue and her serious commitment to it over a number of years. There are two distinct elements to her question: funding for regional airports; and the role of the connectivity fund. I will first deal with the regional airports programme which will set the context for an examination of the potential role for the connectivity fund. As the...

Seanad: Commencement Matters: Regional Airports (28 Sep 2016)

Eoghan Murphy: It is not the case that nothing has been done. In 2016 alone the Department has approved €2 million in grant aid for safety and security investment at Knock airport, which is half of all the capital spending that has gone to the four regional airports this year. Regarding state aid, a case-by-case assessment and approval from the European Commission is needed, and the Department of...

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: I am pleased to present the Finance (Certain European Union and Intergovernmental Obligations) Bill to the House. It should be noted this Bill is very much of a technical nature, designed primarily to address an international obligation arising from the banking union agenda and to allow Ireland fulfil its obligations under the criminal sanctions for market abuse directive. The basis for...

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: I apologise as a copy of it should have been provided.

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: In this regard, it should be noted that Ireland's key is 3.3% of the €55 billion which equates to €1.815 billion. During the negotiation of the loan facility agreement, two issues emerged, namely, whether it should be possible to pay a credit line in tranches than all at once and whether national approval was required to pay a credit line to the Single Resolution Board. If...

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: I completely agree with the points raised. The speech was ready in advance because we completed the legislation in the Dáil prior to the recess and nothing has changed since then. I apologise for the fact that it was not sent to Members in advance. It is a technical Bill and it would be helpful to put the technicalities of the argument in front of Senators when they are making their...

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: I will get to the different questions raised towards the end of my final remarks on Second Stage of this Bill. I thank Senators for their contributions to and participation in the debate. I again apologise that my initial script was not ready on time or provided for the beginning of the debate. As Members will appreciate and as has been mentioned, the Bill is mainly of a technical nature....

Seanad: Finance (Certain European Union and Intergovernmental Obligations) Bill 2016: Second Stage (28 Sep 2016)

Eoghan Murphy: It was proposed to take it next week but there may be a problem because I am due before the International Monetary Fund, IMF, in Washington DC next week. We are considering the possibility of taking it the week after that.