Results 14,481-14,500 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Health: Health Services (24 Nov 2016)

Michael McGrath: 189. To ask the Minister for Health the details of the imputed rate of interest used by his Department and the HSE in respect of eligibility to different means tested schemes that fall under their remit, including medical cards; and if he will make a statement on the matter. [36695/16]

Written Answers — Department of Jobs, Enterprise and Innovation: Job Initiatives (24 Nov 2016)

Michael McGrath: 255. To ask the Minister for Jobs, Enterprise and Innovation the reason the financial reward under the succeed in Ireland programme, delivered by ConnectIreland, is being discontinued; if she will provide the key statistics on the performance of the programme to date including the number of jobs created and total amounts paid out as financial reward; and if she will make a statement on the...

Written Answers — Department of Children and Youth Affairs: Child Care Services Data (24 Nov 2016)

Michael McGrath: 267. To ask the Minister for Children and Youth Affairs the full terms and conditions that apply to the child care support schemes announced in budget 2017; and if she will make a statement on the matter. [36668/16]

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: May I comment?

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: Perhaps the Minister of State could make his comment and then make a suggestion to the Minister. There have been two notable reports into property-based tax incentives that led to decisions by previous Governments to eventually wind down many of the incentives. Today we are discussing property-based tax incentives but they are bundled up in a complex web of different types of fund...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: It was acknowledged on Committee Stage that the provision whereby the IREFs, or the funds, to use that term generally, that hold assets for five years and are then exempt in terms of the application of withholding tax to any chargeable gain was a policy decision. It is not something from Revenue; it is an issue of policy and was decided upon by the Government. As the Minister knows, fund...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: The purpose of the amendment in one respect, and the Minister referred to it, is to ensure that pension funds are not snared by the effect of the new regime regarding IREFs. It is the case that pension funds very often invest in Irish property through an Irish regulated fund, often because banks prefer, for example, to lend to a regulated fund rather than to pension funds directly. Ensuring...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I have one question on the issue of the likely yield. The Minister of State has said it is an estimate. I would take a fairly broad interpretation of that. I am not sure there is a detailed breakdown of how he arrived at that figure but my question is whether the yield from these combined measures will be measurable. With regard to the additional tax that comes in, will the Department be...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I wish to make a general point. The issue is complex enough as it is. The Finance Bill was published with sections 21 and 22. The Government amendment on Committee Stage was so extensive that it replaced the entire section. Now on Report Stage we again have pages and pages of amendments to section 22, which had already been replaced in its entirety since the initial publication of the...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: Deputy Pearse Doherty is correct. The effect of the amendment is the preservation of the status quoand so the withholding tax of 20% would not apply. Deputy Boyd Barrett has raised one particular aspect of the Bill, the provisions around the charitable gain, and there are later amendments to which that debate is more relevant. The proposal to delete the entire section would bring us back to...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: These Government amendments relate to section 21 of the Bill and deal with section 110 companies. The work of Revenue and Department of Finance officials in the past 12 months on this issue must be acknowledged. There has been a lot of analysis. The amendments primarily seek to ensure there will be no unintended contamination of what is a legitimate aspect of the financial services...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I will agree on the basis that the tax strategy group will be asked specifically to examine this issue. What the Minister is indicating is that there has not been a policy decision for DIRT tax to fall to 33%, while the exit tax would remains at 41%. The first point I want to establish is that this is not Government policy as that would be a retrograde step. Many people rely on the...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I move amendment No. 31:In page 38, between lines 2 and 3, to insert the following:“(3) The Minister shall, within three months of the passing of this Act, prepare and lay before the Oireachtas a report on the breaking of the link between the rate of DIRT and the rate of exit tax from life assurance policies, including the impact of this on life assurance savers.”. I very much...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: I agree with much of what Deputy Stephen S. Donnelly said. This is an important public policy issue and it is true to say it is a long-established practice within the corporation tax code that losses can be carried forward and offset against future profits. That is well established in the tax code, about which there is no question. To say the least, the NAMA transfers constituted an...

Regulation of Debt Management Advisors Bill 2011: Leave to Withdraw [Private Members] (23 Nov 2016)

Michael McGrath: I move: "That, notwithstanding anything in Standing Orders, leave be granted to withdraw the Regulation of Debt Management Advisors Bill 2011."

Debt Settlement and Mortgage Resolution Office Bill 2011: Leave to Withdraw [Private Members] (23 Nov 2016)

Michael McGrath: I move: "That, notwithstanding anything in Standing Orders, leave be granted to withdraw the Debt Settlement and Mortgage Resolution Office Bill 2011."

Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2011: Leave to Withdraw [Private Members] (23 Nov 2016)

Michael McGrath: I move: "That, notwithstanding anything in Standing Orders, leave be granted to withdraw the Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2011."

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael McGrath: I understand. The figures Deputy Boyd Barrett has put on the record are startling. To his credit, this is an issue he has raised consistently. There is undoubtedly an issue here and Revenue and the Department need to have a very hard to look at it. Not only are there consequences for the Exchequer by way of taxation receipts, but there are very serious consequences for the workers...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael McGrath: I welcome that the Minister has reaffirmed that there will be an impact assessment in ten months' time. I expect it to examine issues such as the impact on house prices, the supply of new homes and the property market generally. If the independent impact assessment finds that this intervention in the market is directly contributing to house price inflation, the Minister will have to end the...

Finance Bill 2016: Report Stage (Resumed) (23 Nov 2016)

Michael McGrath: This issue was discussed at some length on Committee Stage when the Minister, in response to amendments tabled by me and other Deputies, gave a commitment to carry out an impact assessment of the help-to-buy scheme. I expressed the view on Committee Stage that an impact assessment should have been carried out in advance of the roll-out of the scheme. In view of the failure to do so, an...