Results 11,621-11,640 of 16,285 for speaker:Peadar Tóibín

Finance (Local Property Tax) (Amendment) (No. 2) Bill 2015: Second Stage (11 Dec 2015)

Peadar Tóibín: I welcome the fact there should be taxation on jobs.

Finance (Local Property Tax) (Amendment) (No. 2) Bill 2015: Second Stage (11 Dec 2015)

Peadar Tóibín: In 2004, 2005 and 2006, Bertie Ahern shifted taxation from personal taxation towards stamp duty, which applies in a very unstable section of the economy. The current Government is doing the exact same thing and thereby creating instability.

Finance (Local Property Tax) (Amendment) (No. 2) Bill 2015: Second Stage (11 Dec 2015)

Peadar Tóibín: Incredibly, some 140 companies pay 70% of all corporation tax. The focus on this narrow sector of society reminds me of the focus on another narrow sector of society - the construction industry - some years ago. The Government has created an unbalanced economy, with 90% of exports coming from the foreign direct investment sector. Countries like Denmark and Austria provide approximately 40%...

Finance (Tax Appeals) Bill 2015: Report and Final Stages (11 Dec 2015)

Peadar Tóibín: I move amendment No. 5:In page 39, line 19, to delete “High Court” and substitute “Circuit Court”.

Finance (Tax Appeals) Bill 2015: Report and Final Stages (11 Dec 2015)

Peadar Tóibín: This is the opposite of what happened with the previous amendment, when the Government moved in respect of a view of the committee. This time, it has decided not to move. I am curious to know why the Minister is travelling down this road. It is not particular to this Bill, as a pattern has developed across a number of Bills in recent times. The Customs Act 2015 springs to mind. The new...

Finance (Tax Appeals) Bill 2015: Report and Final Stages (11 Dec 2015)

Peadar Tóibín: I move amendment No. 2:In page 34, line 2, to delete “Subject to subsections (2) and (3), every” and substitute “Every”. Transparency is the ally of a citizen and in most cases involving central, local government or tax affairs where there is transparency, it usually results in better behaviour by all involved. The purpose of these amendments is to remove the...

Finance (Tax Appeals) Bill 2015: Report and Final Stages (11 Dec 2015)

Peadar Tóibín: I move amendment No. 3:In page 34, to delete lines 4 to 25.

Leaders' Questions (10 Dec 2015)

Peadar Tóibín: If the land is under water, where will the herd go?

Leaders' Questions (9 Dec 2015)

Peadar Tóibín: The Government did not come into office overnight.

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: I move amendment No. 3:In page 6, between lines 29 and 30, to insert the following:“(c) the finance provider is a crowd funder which operates as a credit facility and its liquidity is sourced from the general public and provides loans to businesses in a peer to peer arrangement. (d) the finance provider is a credit union which operates in Ireland under Central Bank...

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: On Second Stage the Minister of State said crowd funding could not be included because its definition was not tight enough. I now understand he is saying there is a possibility, given the breadth of the Bill, that crowd funders could be included in the future. Will he give me a commitment that they will be so included?

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: As Opposition Deputies, we have an opportunity to discuss what the Bill states and will do. If we simply agree that it should be left to the Minister to decide what should be included in the scheme at some point in the future, we abdicate our responsibility as Opposition Deputies to the different sectors that are components of a functioning and healthy economy. If we simply decide that it...

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: To clarify, will the Minister's section allow SBCI to directly provide credit to SMEs?

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: To provide the counter guarantee.

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: There are no changes with regard to SBCI.

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: Separate legislation would be necessary to change the SBCI system but it is important to say that the SBCI has to go through a pillar bank or another form of lending to have access to consumers which limits its engagement and ability to lend. Often the pillar banks have proven that they simply do not feel the need to promote SBCI funding. I have heard from firms that went to a bank for...

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: Given that there will be €15.6 million of risk to the State, what is the ratio between level of risk to the State and the total amount of funds expected to be delivered? There is a ratio between level of risk and the total of amount of lending expected to be delivered through the system.

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: I understand there is currently €20 billion of lending to SMEs and, considering the size of that figure, exposing the State to €15 million of lending, with 40% of it in default, does not seem very ambitious. To tease it further, what are the expectations? When this credit guarantee scheme was initially announced, it was indicated that X amount of firms would be affected with X...

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: When the scheme was first launched, it was very clear that X number of jobs would be created with X number of firms affected. Is the Government rowing back on delivering expectations on this?

Select Committee on Jobs, Enterprise and Innovation: Credit Guarantee (Amendment) Bill 2015: Committee Stage (8 Dec 2015)

Peadar Tóibín: I tabled amendment No. 20 because credit is too expensive in this State, be it for those in mortgage distress who are paying a premium over their counterparts throughout Europe or small businesses who are paying a premium over that being charged to European banks - and this is even outside the credit guarantee scheme. Paying for credit at such an enormous rate is a competitive disadvantage...