Results 10,361-10,380 of 27,945 for speaker:Michael McGrath

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (11 Jul 2018)

Michael McGrath: Does the Minister anticipate a recurrence in the current year? Corporate tax receipts are again quite strong.

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (11 Jul 2018)

Michael McGrath: The Minister is looking at a significant increase in capital expenditure to about €7.3 billion of gross voted capital expenditure next year, which figure includes a €500 million increase for the Department of Housing, Planning and Local Government. What is the overall allocation for housing within the figure of €7.3 billion? Does the Minister have details of what will...

Committee on Budgetary Oversight: Summer Economic Statement: Discussion (11 Jul 2018)

Michael McGrath: In the Minister's concluding remarks he identified some of the principal risks. The three he identified were Brexit, changes to the international corporate tax landscape and possible disruptions to the global trading system. From his perspective as Minister for Finance and the overall guardian of the economy, does he regard them as the top three risks we face as a country? We are all aware...

Other Questions: European Semester Process (11 Jul 2018)

Michael McGrath: Mine relates to the third recommendation of the report, which relates to long-term arrears. What the Commission said was very interesting. In identifying solutions, it placed the emphasis on encouraging write-offs of non-recoverable exposures. The practice in Ireland is to sell on loan portfolios. We will be dealing with legislation tomorrow at committee to regulate these funds. What is...

Other Questions: Insurance Costs (11 Jul 2018)

Michael McGrath: 69. To ask the Minister for Finance if he is satisfied with the steps being taken to address problems in the insurance market being experienced by consumers; and if he will make a statement on the matter. [30927/18]

Other Questions: Insurance Costs (11 Jul 2018)

Michael McGrath: This is a question relating to the problems in the insurance industry from a consumer perspective. Is the Minister of State satisfied with the progress that is being made by the cost of insurance working group, the recommendations and the phase 2 report on employer and public liability? I will come back on a few specific issues. I want to get the view of the Minister of State who is in...

Other Questions: Insurance Costs (11 Jul 2018)

Michael McGrath: I encourage the Minister of State to drive through the reforms that are necessary in the interests of the industry and of consumers. When he introduced the Insurance (Amendment) Bill 2018 last night, there was strong support across the House for the Bill. Equally, I have no doubt there will be strong support if he is to tackle in a meaningful way the key issues affecting consumers in the...

Other Questions: Insurance Costs (11 Jul 2018)

Michael McGrath: What the Minister of State seems to be saying is that we are heading towards a referendum if we want to deal with the issue of the level of awards which are impacting on the insurance industry and consumers. Has he received advice to the effect that there is no law this House can pass to address the issue of awards? The Personal Injuries Commission is benchmarking Ireland versus other...

Other Questions: Corporation Tax Regime (11 Jul 2018)

Michael McGrath: On the related issue of corporate tax receipts, it is the stand-out performer again in our Exchequer receipts and is up 15% year on year, which is 9% above the target. There is a lot of volatility in corporate tax receipts. Thankfully, it is all on the favourable side at the moment. It is good that we are collecting this money but is the Minister satisfied that the Revenue and the...

Other Questions: Employment Investment Incentive Scheme (11 Jul 2018)

Michael McGrath: I concur with what Deputy Burke has said. It is an issue I have raised in parliamentary questions and directly with the Revenue Chairman and the consistent feedback from the business community is that there are operational problems and the turnaround times with Revenue have lengthened. The changes made in the Finance Act last year seemed to have an impact, in that it became more complicated...

Ceisteanna - Questions - Priority Questions: Economic Competitiveness (11 Jul 2018)

Michael McGrath: 63. To ask the Minister for Finance the steps he plans to take to ensure Ireland protects its competitiveness and to mitigate the risk of overheating pressures in the economy; and if he will make a statement on the matter. [31237/18]

Ceisteanna - Questions - Priority Questions: Economic Competitiveness (11 Jul 2018)

Michael McGrath: The purpose of this question is to tease out how the Minister can square the circle. We need to build tens of thousands more homes but we also need to address the risk of overheating in the economy and the need to retain competitiveness, which is a key issue. We do not want to see a return to the rip-off Ireland which the Minister's party heralded many years ago during the Celtic tiger....

Ceisteanna - Questions - Priority Questions: Economic Competitiveness (11 Jul 2018)

Michael McGrath: The gains we made in competitiveness were necessary and enforced. It was an enormous correction in the economy. The signs are there now when we look at the rising costs businesses and workers are facing. These include energy costs, the cost of insurance, which we have addressed in this House many times, transport costs, childcare costs and the gender pay gap, which also needs to be...

Ceisteanna - Questions - Priority Questions: Economic Competitiveness (11 Jul 2018)

Michael McGrath: One of the key messages I want to convey is the need to keep a firm eye on costs. Costs are rising in the economy and rising costs will make us and our businesses less competitive. That is emerging as a key issue. In respect of the labour market, shortages are emerging. In our constituency work, we are all seeing more enquiries about employment permits, critical visas and so on. There is...

Ceisteanna - Questions - Priority Questions: Brexit Issues (11 Jul 2018)

Michael McGrath: 61. To ask the Minister for Finance his assessment of the likely impact on the economy of a no-deal hard Brexit in March 2019; and if he will make a statement on the matter. [31236/18]

Ceisteanna - Questions - Priority Questions: Brexit Issues (11 Jul 2018)

Michael McGrath: The purpose of this question is to establish the current view of the Minister and the Department of Finance on what the implications would be for Ireland in the event of a no-deal hard Brexit, which is something none of us wants to see. We are conscious of the efforts the Government is making to avoid that with our EU partners but it is a distinct possibility. We are now eight and a half...

Ceisteanna - Questions - Priority Questions: Brexit Issues (11 Jul 2018)

Michael McGrath: I thank the Minister for his reply and it is a fairly stark scenario that is set out in the event of a no-deal hard Brexit materialising, which none of us want to see. We do need, however, to be aware of what the likely consequences are. When the Minister states the rate of employment would be 2% below what it otherwise would be, with the rate of unemployment being 2% higher, I understand...

Ceisteanna - Questions - Priority Questions: Brexit Issues (11 Jul 2018)

Michael McGrath: I thank the Minister and ask him to set out, in respect of the possibility of the UK leaving the customs union and the fact that World Trade Organization, WTO, terms of trade would then apply, what steps are being taken by way of preparation by his Department and the Revenue Commissioners for that possible scenario, which none of us wants to see. We are all very conscious of the impact a hard...

Written Answers — Department of Finance: Tax Appeals Commission (11 Jul 2018)

Michael McGrath: 79. To ask the Minister for Finance his views on the situation at the Tax Appeals Commission; his plans to address the backlog of cases; and if he will make a statement on the matter. [30924/18]

Written Answers — Department of Finance: Mortgage Lending (11 Jul 2018)

Michael McGrath: 91. To ask the Minister for Finance his views on the Central Bank's review on mortgage-related advertisements with a focus on cash back incentives; the actions he or the Central Bank plan to take to address the findings of the review; his views on whether cash back offers serve a purpose in the mortgage market; and if he will make a statement on the matter. [30923/18]