Results 1,101-1,120 of 6,295 for speaker:Michael D'Arcy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)

Michael D'Arcy: No. Insurance Ireland is a lobby interest group for insurance companies. My role as Minister with responsibility for insurance is to highlight areas where there are difficulties and that is what I am doing. The insurance sector used to keep information hidden and information was only obtained by dragging it out of the people who held it but, with the implementation of the national claims...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)

Michael D'Arcy: It is almost 20 years since 2001.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)

Michael D'Arcy: Insurance Companies deploy capital and capital is very fleet. If a sector in industry is doing poorly, whether it be agriculture, marts or taxis, and the capital required to underwrite it is loss-making, the holders of that capital will decide to close the book and leave. That is part of the problem we have. For a period of time, the level of awards was so high in this country that the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)

Michael D'Arcy: Everything we are doing is to reduce premia. A total of 62 out of 78 recommendations have been concluded although some will not be concluded because, upon analysis, they will be too expensive or will not produce the effect for which we had hoped and anticipated. The 22% reduction is welcome and we want to reduce it further and move into other sectors. We are getting to the big stuff now...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group Update: Discussion (15 Nov 2018)

Michael D'Arcy: I acknowledge that and I also acknowledge the help of finance spokespersons with the Insurance (Amendment) Act. Those are the examples of the Oireachtas being helpful. However, I am highlighting that we are in a queue to get into the Dáil and Seanad for other legislation. Filibuster has an effect as other legislation gets shoved backwards.

Seanad: Fossil Fuel Divestment Bill 2016: Second Stage (14 Nov 2018)

Michael D'Arcy: I am pleased to be in the Seanad today to take Second Stage of the Fossil Fuel Divestment Bill 2016. This was a Private Members' Bill drafted by Deputy Thomas Pringle. I take this opportunity to record the Government's appreciation of this valuable initiative. In particular, I thank Deputy Pringle and his staff for their constructive engagement with officials in the Department of Finance,...

Seanad: Fossil Fuel Divestment Bill 2016: Second Stage (14 Nov 2018)

Michael D'Arcy: I do not propose to comment on the LNG facility, of which I have no knowledge or insight.

Seanad: Fossil Fuel Divestment Bill 2016: Second Stage (14 Nov 2018)

Michael D'Arcy: I am sure it is a matter that will be debated more than once after I leave this House. I will try to address some of the issues raised. The Ireland Strategic Investment Fund, ISIF, publishes extensive information on its investments. This Bill will impose further reporting requirements on the investments, which is good. On student activism, it is good that students started this process and...

Seanad: Home Building Finance Ireland Bill 2018: Second Stage (14 Nov 2018)

Michael D'Arcy: I am pleased to present the Home Building Finance Ireland Bill 2018 to the House. This is a very significant Bill providing for the establishment of Home Building Finance Ireland, HBFI, which will provide a much-needed boost to the availability of finance for residential development in the State. The availability of appropriate development finance for commercially-viable residential...

Seanad: Home Building Finance Ireland Bill 2018: Second Stage (14 Nov 2018)

Michael D'Arcy: I address the question of the Government doing more. I have to disagree with the Senator because the Government is fully committed to achieving the objective of building more social and affordable homes, as is obvious from the nearly 26,000 social units delivered in 2017, which represented a significant increase on the numbers delivered in previous years. Further funds have also been...

Seanad: Home Building Finance Ireland Bill 2018: Second Stage (14 Nov 2018)

Michael D'Arcy: Within a short period we encountered a housing crisis. I find it most amazing that we have a housing crisis considering that the population of the State is 4.8 million people and that there are 2.1 million homes. We want to get the Bill through the House immediately or as quickly as we can because we have finished it in the other House and the sooner we can get it through, the better. We...

Seanad: Home Building Finance Ireland Bill 2018: Second Stage (14 Nov 2018)

Michael D'Arcy: Which one?

Seanad: Home Building Finance Ireland Bill 2018: Second Stage (14 Nov 2018)

Michael D'Arcy: The expectation is that the fund will be available to small builders who are struggling. There is a lot of chatter about the funding of the construction sector. The sector which provides residential property is the commercial real estate sector. A figure of 60% is being provided for, with the rest to be provided by way of borrowing.One of the things we saw from the banking inquiry is that...

Seanad Public Consultation Committee: Small and Medium-Sized Enterprises: Discussion (13 Nov 2018)

Michael D'Arcy: I thank the Members of the Seanad for inviting me to this committee to take part in the consultation on small and medium enterprises, a sector which is the lifeblood of the Irish economy. According to the CSO, SMEs make up 99.8% of all active enterprises in Ireland, accounting for 69% of all employees, 39% of Ireland's gross value added and 48% of the total revenue generated by Irish based...

Seanad Public Consultation Committee: Small and Medium-Sized Enterprises: Discussion (13 Nov 2018)

Michael D'Arcy: I will make one point to Senator Boyhan. Many years ago, in our previous lives, Mr. Walsh sold me a diet feeder. Both Mr. Parlon and I were dairy farmers in the past. I have been making the point for a long time that many people start up business with a good idea but do not understand that the reason to be in business is to have a margin and achieve a profit. A person can have the best...

African Development (Bank and Fund) Bill 2018: Second Stage (13 Nov 2018)

Michael D'Arcy: I will make sure to conclude by then because I want to move on to the next Stage. A huge number of questions have been asked by all who contributed. I do not have the answers to all the questions so I will not pretend. We can try to get into more detail on Committee Stage. In the context of our international development policy with regard to extending our influence in the African region...

African Development (Bank and Fund) Bill 2018: Referral to Select Committee (13 Nov 2018)

Michael D'Arcy: 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).

African Development (Bank and Fund) Bill 2018: Order for Second Stage (13 Nov 2018)

Michael D'Arcy: I move: "That Second Stage be taken now."

African Development (Bank and Fund) Bill 2018: Second Stage (13 Nov 2018)

Michael D'Arcy: I move: "That the Bill be now read a Second Time". The African Development (Bank and Fund) Bill, if approved by the Oireachtas, will facilitate Ireland’s future membership of the African Development Bank and the African Development Fund, the key entities of the African Development Bank Group, a multilateral development finance institution focused on contributing to economic and...

Personal Explanation by Minister of State (7 Nov 2018)

Michael D'Arcy: On 3 October during a Dáil debate on a motion on double taxation relief on taxes on income and capital gains with the Republic of Ghana, I informed the House that, in 2012, officials from the Republic of Ghana raised with the Department of Foreign Affairs and Trade the possibility of negotiating a double tax agreement with Ireland. I have subsequently been informed that the opening of...