Results 1,141-1,160 of 34,778 for speaker:Seán Fleming

Ceisteanna Eile - Other Questions: Insurance Industry (28 Apr 2022)

Seán Fleming: I thank the Deputy. There is a limit on the time available to facilitate me updating him and doing justice to the work I do specifically. On the issue of the timescale, the Deputy is fully aware that we have a wide-ranging plan for insurance reform underpinned by the action plan for insurance reform. This cross-departmental action plan was published in December 2020 with the most recent...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: I again thank the Deputies. I confirm that the Government is working with the European Commission and member states to consider the policy proposal outlined in its REPowerEU document designed to aid consumers and businesses to deal with the increasing cost of energy. A number of potential measures have been set out by the European Commission under that initiative at European level,...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: The position is that the matter of refundable tax credits was looked at in some detail in 2002 by the working group established under the programme for prosperity and fairness. The group was chaired by the Department of Finance and included representatives from Irish Congress of Trade Unions, IBEC, various farming organisations, the community and voluntary pillar, relevant Departments and...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Credits (28 Apr 2022)

Seán Fleming: The Deputy is quite right; much has changed since those reports were produced. The principal change was the introduction of and increase to the minimum wage from €8.65 to €10.50. We would all like if this rate was higher, but that is a significant increase in the context that we had no provision for a minimum wage in legislation when that work was commissioned. Social...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: As the Deputy will be aware, the current VAT rate of 13.5% applies to energy products. It is a part rate and cannot be reduced below 12%. It should be noted that member states must apply their standard rate of VAT to this product. Our historical derogation covered electricity, gas, fuel and oil. This meant Ireland applied the rate of 13.5% to those products in comparison with other...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: I propose to take Questions Nos. 2 and 3 together. I am aware the European Commission has confirmed that EU member states can consider imposing temporary tax measures on windfall profits of energy providers and use the revenue generated to provide consumers with relief from high prices. Officials in the Department and in the Department of the Environment, Climate and Communications are...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: I thank the Deputies. Windfall taxes on energy companies require careful consideration. A windfall tax could create unintended consequences. For example, it could disincentivise investment in renewable energy generation, as there would be uncertainty on profits returned for generators entering the market. Interventions such as windfall taxes may have the potential to reduce the energy...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: I thank the Deputy for raising this, and I join other Members in giving condolences to the Minister, Deputy Donohoe, on the sad passing of his mother. In regard to the question at hand, the Minister for Finance and the Government are very conscious of the negative impact the rapid rise in energy costs is having on society. The Government is doing everything within its powers to address...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Code (28 Apr 2022)

Seán Fleming: Our context did mention the issue of VAT and the VAT directives in that correspondence from the Minister, and as the Deputy is aware, following lengthy negotiations, amendments to the VAT directive were provisionally agreed in December 2021 with final sign-off on the amended text at ECOFIN, in April 2022. This new arrangement came into effect on 5 April, so the Deputy can see discussions in...

Financial Resolution No. 2: Mineral Oils Tax (27 Apr 2022)

Seán Fleming: I thank all of those who contributed to what was a good, strong and robust debate in the last hour or so. I want to summarise and conclude in respect of the two motions before the House, one of which deals with VAT and the other with excise duties. The purpose of the first financial resolution is to reduce VAT on gas and electricity from 13.5% to 9%. This is possible because, as a...

Financial Resolutions 2022 (27 Apr 2022)

Seán Fleming: I move the following Financial Resolutions:

Financial Resolution No. 2: Mineral Oils Tax (27 Apr 2022)

Seán Fleming: The first financial resolution provides for a temporary reduction in VAT on gas and electricity. At present, gas and electricity have a 13.5% VAT rate applied. This will be reduced to a 9% VAT rate from 1 May to 31 October 2022. The second financial resolution provides for an extension and enhancement of the excise duty decreases on mineral oil taxes the Government provided for in...

Carbon Tax: Motion [Private Members] (27 Apr 2022)

Seán Fleming: I welcome the opportunity to contribute to the debate. I have listened carefully to the comments of many of the Deputies and I understand what they are saying. While I might not agree with some of what has been said I understand the full sentiment behind it. Members will be aware of the important actions this Government has taken in the space of climate action and meeting emissions...

Carbon Tax: Motion [Private Members] (27 Apr 2022)

Seán Fleming: -----is we must make choices. I am going to watch the vote tonight very carefully. I acknowledge-----

Carbon Tax: Motion [Private Members] (27 Apr 2022)

Seán Fleming: -----where the Rural Independent Group is coming from. Its Members are consistent in what they are saying. However, I look at the Members beside them who are not here. I highlight Sinn Féin. I am going to watch how Sinn Féin Deputies vote tonight. Sinn Féin's pre-budget submission last year was based on collecting €652 million in carbon tax. Sinn Féin did not...

Insurance (Miscellaneous Provisions) Bill 2022: Second Stage (26 Apr 2022)

Seán Fleming: I thank all of the Deputies who contributed to the debate, each of whom said they were supporting the Bill and not opposing it which suggests it is non-contentious. I appreciate the comments of all the Deputies opposite and no doubt we will have more detailed discussions on Committee Stage in due course. Some Members said the Bill could do more and that is one of the points we will discuss....

Insurance (Miscellaneous Provisions) Bill 2022: Referral to Select Committee (26 Apr 2022)

Seán Fleming: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) and 181(1).

Insurance (Miscellaneous Provisions) Bill 2022: Second Stage (26 Apr 2022)

Seán Fleming: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address Dáil Éireann today on the Insurance (Miscellaneous Provisions) Bill 2022, which was published on Friday, 1 April. As Minister of State with responsibility for insurance, I move this Bill to address a number of insurance-related matters that have arisen after the publication in December 2020...