Results 12,461-12,480 of 27,945 for speaker:Michael McGrath

Other Questions: Brexit Issues (24 Oct 2017)

Michael McGrath: The Minister said the onus is on the UK side to come up with workable solutions but the problem is they will not nor do they want to because the UK is happy to leave the border open. The issue is on the EU side because if the UK leaves the customs union, which looks increasingly certain, there will be an obligation on the EU to protect the integrity of that union and the Revenue will be the...

Other Questions: Stamp Duty (24 Oct 2017)

Michael McGrath: I welcome the change from the budget day announcement with the publication of the Finance Bill. There are farmers who had not transferred farms to the younger generation prior to age 67 and so had failed to avail of the consanguinity relief. They have now been provided with the opportunity to have the transfer go through at the 1% rate, which will hopefully happen. A related point is that...

Other Questions: Brexit Issues (24 Oct 2017)

Michael McGrath: 11. To ask the Minister for Finance the work that the Revenue Commissioners are undertaking in preparation for Brexit; the arrangements being considered for the Border area in view of the likelihood of the UK leaving the customs union; and if he will make a statement on the matter. [44695/17]

Other Questions: Brexit Issues (24 Oct 2017)

Michael McGrath: I wish it to be absolutely clear that the Fianna Fáil position on a hard border is that we do not support it. Our objective, which we share with Government, is that there should be no hard border on the island of Ireland. However, I want to ask the Minister about the work of Revenue, whose representatives were before the finance committee in May. At the committee, they gave extensive...

Other Questions: Stamp Duty (24 Oct 2017)

Michael McGrath: 9. To ask the Minister for Finance if he has engaged with farming representative organisations in respect of the change in stamp duty announced in budget 2018; if consideration has been given to alterations to the young farmer stamp duty relief and consanguinity relief; and if he will make a statement on the matter. [44696/17]

Other Questions: Stamp Duty (24 Oct 2017)

Michael McGrath: My question relates to the budget day announcement of the increase in non-residential stamp duty. I understand that we will discuss the Finance Bill later this evening and this question is in anticipation of that. Serious concerns have been raised, especially regarding the transfer of a farm from one generation to the next and the fact that this may be affected by the increase to 6%. I...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Michael McGrath: 5. To ask the Minister for Finance his plans to establish Home Building Finance Ireland, HBFI; the expected timeframe for it to be operational; the number of homes he expects it to fund; the terms and conditions that will apply to the loans; and if he will make a statement on the matter. [44939/17]

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Michael McGrath: I am raising a question about the budget day announcement concerning HBFI. I think everyone in the House accepts that finance is an essential ingredient in delivering the homes we want to build for our people throughout the country. Specifically, when does the Minister anticipate the fund to be up and running and providing finance for home construction? Will the terms and conditions be on...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Michael McGrath: What consideration has been given to the terms and conditions that will be attached to the credit that this new agency will be able to provide? One of the reasons the Activate Capital fund has not been hugely successful is that the initial cost of funding was very high. I think it was as high as 14% but has come down significantly since then. The fund has had some success but not, I think,...

Ceisteanna - Questions - Priority Questions: Budget Measures (24 Oct 2017)

Michael McGrath: Will the Minister clarify whether this new fund will only finance private home construction? What role, if any, will it have in the construction of social or affordable housing? For example, will approved housing bodies be able to avail of funding from this new organisation for the construction of voluntary housing association houses or social houses that they will be delivering as part of...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Michael McGrath: As the Minister noted, the Commission announced its decision at the end of August 2016. There was a deadline of early January 2017 for the collection of the money. I do not recall the Government saying that was wholly unrealistic, which now seems to be the Minister's central point. He accuses the Commission of bad faith and says that countries would normally get two years following a...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Michael McGrath: I respect the independence of the Central Bank but fines are not the answer. Springboard Mortgages has come through this process with only a fine of over €4 million. If the outcome in respect of the other banks that are some way through this process is fines, they will be passed on to customers and this will happen again because there will have been no accountability. Springboard...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Michael McGrath: 3. To ask the Minister for Finance the progress made in setting up the escrow account for the money owed by a company (details supplied); the timeframe for the establishment of the account; the timeframe for the first payment to be made to the account; the fines that are likely to be imposed on the State for failing to comply with the Commission’s decision; and if he will make a...

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Michael McGrath: At the end of August last year the European Commission issued its state aid ruling in regard to Apple. Since then, the money, €13 billion, plus interest, has not been collected. While I fundamentally disagree with the European Commission's state aid ruling, I believe it must be respected. When will this money be collected and lodged to the escrow account as promised?

Ceisteanna - Questions - Priority Questions: State Aid (24 Oct 2017)

Michael McGrath: I thank the Minister for his reply. I do not understate that there are many complexities involved. It is not a case of simply exchanging bank account details and money being transferred. However, in delaying this process the Government has given ammunition to those who seek to target Ireland in regard to corporation tax. The common consolidated corporate tax base, CCCTB, proposals have...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Michael McGrath: 1. To ask the Minister for Finance the nature of his planned engagement with the banks in respect of the Central Bank tracker mortgage examination; and if he will make a statement on the matter. [44937/17]

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Michael McGrath: We all know that the Minister, Deputy Paschal Donohoe, has been meeting the banks over the past two days in respect of the tracker scandal. I have two key questions to which I think most people want an answer. Can the Minister give a categoric commitment to all those affected by the scandal that they will get justice, that they will get their money back and that they will get compensation?...

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Michael McGrath: Deputy Doherty is here.

Ceisteanna - Questions - Priority Questions: Tracker Mortgages (24 Oct 2017)

Michael McGrath: The banks, or at least some of them, have threatened to sue the Central Bank for doing its job, which is seeking to protect customers. We know that 10,000 customers have not got the money back that was wrongly taken from them, not to mention any compensation from their lenders. There may well be many more. It is certainly not the case since this emerged that the banks have dealt with it in...

Order of Business (24 Oct 2017)

Michael McGrath: We are not in favour of a hard border on this island.