Results 16,001-16,020 of 27,945 for speaker:Michael McGrath

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: With regard to the postponement of the revaluation date until 2019, which I welcome, what is the status of properties that were bought and came on stream since the last valuation date in 2013? How will a first-time buyer who purchases a new house in 2015 be treated in the context of LPT?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: Will the legislation be introduced next year?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 79:In page 81, between lines 19 and 20, to insert the following:"Impact of Budget 66. The Minister shall, within 3 months of the passing of this Act, prepare and lay before Dáil Éireann an analysis of the tax changes in this Act, and the total of tax changes and spending adjustments of Budget 2015, setting out the continuing impact on people based on their...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: If the Legal Services Regulation Bill 2015 is enacted and a new legal services regulatory authority is set up, will that need to be named in this section or does it step into the shoes of the Law Society in respect of certain investigations it might do?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 96:In page 95, between lines 35 and 36, to insert the following:"Deposit Interest Retention Tax 85. The Minister shall, within one month of the passing of this Act, prepare and lay before Dáil Éireann a report on options available for the charging of Deposit Interest Retention Tax at rate equivalent to the individual's marginal income tax rate.". Although what...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I thank the Minister for his reply and for giving the costings. I accept that what I am proposing would be administratively difficult to implement. An estimated cost of €77 million in 2016 is a very significant sum. Over time, however, as commissions on taxation examine the overall structure, the taxation of interest income should be aligned to the overall taxation of a person's...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 97:In page 95, between lines 35 and 36, to insert the following: “Personal Retirement Savings Account 85. Section 787J of Chapter 2A of the Principal Act (as inserted by the Pensions (Amendment) Act 2002) is amended by the repeal of subsection (3).”. This amendment relates to the taxation treatment of PRSAs, personal retirement savings accounts, which...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I thank the Minister for his comprehensive reply. There is much to digest there. It is a complicated area and his reply has improved my understanding of the distinction between the taxation treatment of an occupational pension scheme and a PRSA. I will take some time to study the Minister’s reply to consider whether to introduce a Report Stage amendment.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: I move amendment No. 98:In page 95, between lines 35 and 36, to insert the following:“Vouched Travel Expenses 85. The Principal Act is amended by insertion the following section after section 195A:“195B. (1) In this section— ‘expenses’ means vouched expenses; ‘normal place of work’ means the location where an employee or director undertakes...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (Resumed) (18 Nov 2015)

Michael McGrath: Is there any timeframe on the deliberations of the consultation?

Other Questions: EU Membership (18 Nov 2015)

Michael McGrath: 6. To ask the Minister for Finance his views on the economic implications for Ireland of a potential exit by the United Kingdom from the European Union; how this impact would be mitigated; and if he will make a statement on the matter. [40355/15]

Other Questions: EU Membership (18 Nov 2015)

Michael McGrath: I raise the issue of the potential exit of Britain from the European Union. Whether we think this is likely or very unlikely, we certainly need to plan for the scenario, given the implications it would inevitably have for Ireland, particularly for the free movement of people and free trade currently provided for within the European Union. It would have serious economic consequences for...

Other Questions: EU Membership (18 Nov 2015)

Michael McGrath: I agree with the Minister's assertion that we need to be actively involved in the process under way between the British Government and the European Union. We should be doing so on the basis that we are actively working towards keeping Britain in the European Union. The reality is we are economically interdependent and our interests are inextricably linked. That is borne out by the trade...

Other Questions: EU Membership (18 Nov 2015)

Michael McGrath: I agree the more likely scenario is a changed relationship between Britain and the European Union and that an accommodation will be reached. Ireland must be actively engaged in that process at European Council level, supporting the position of the British Government where we believe it is in our interests to do so. We may not agree with it on all of the issues being raised, but our...

Ceisteanna - Questions - Priority Questions: Banking Operations (18 Nov 2015)

Michael McGrath: I have.

Ceisteanna - Questions - Priority Questions: Banking Operations (18 Nov 2015)

Michael McGrath: 4. To ask the Minister for Finance his views on restrictions being placed on bank customers in relation to branch cash lodgements and withdrawals; if the Consumer Protection Code will be reviewed in relation to provision of services in branches; and if he will make a statement on the matter. [40510/15]

Ceisteanna - Questions - Priority Questions: Banking Operations (18 Nov 2015)

Michael McGrath: I raise the matter of the changes to in-branch services announced by Bank of Ireland earlier this month, in particular the minimum withdrawal of €700 and the minimum lodgement over the counter of €3,000. The Minister made a statement at the time that he felt the changes were surprising and unnecessary and Bank of Ireland did something of a U-turn. However, the exact position...

Ceisteanna - Questions - Priority Questions: Banking Operations (18 Nov 2015)

Michael McGrath: I thank the Minister for his reply. To its credit, Bank of Ireland has maintained its branch network nationally. However, if changes like this take hold, the role of the branch will diminish over time. All that will be left in branches will be back-office staff and the role of the branch in rural and local communities will come increasingly under question. I am still not clear as to what...

Ceisteanna - Questions - Priority Questions: Banking Operations (18 Nov 2015)

Michael McGrath: I thank the Minister for his reply. I have written directly to the Central Bank on the issue and I await a reply from Mr. Bernard Sheridan, the consumer director. I have raised these concerns directly with him because it is principally a matter for the Central Bank. However, we are far from being a cashless society. There are still State services that one must pay for with cash. The...

Ceisteanna - Questions - Priority Questions: Mortgage Lending (18 Nov 2015)

Michael McGrath: The problem is a lack of supply.