Results 1,601-1,620 of 34,585 for speaker:Seán Fleming

Seanad: Nithe i dtosach suíonna - Commencement Matters: Living City Initiative (8 Oct 2020)

Seán Fleming: I thank the Senator. The essence of her point is well made and I will come back to it when concluding. I want to put some information on the public record. This is information based on the revenue at the end of last year. Of the number of applications received up to last year, only 92 were from Dublin. Cork had 71, Limerick had 19, Waterford had 32, Kilkenny had 11 and Galway city had...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Living City Initiative (8 Oct 2020)

Seán Fleming: I would have said the 228 figure was low to start with but in terms of the number that successfully came out the far end and got some tax back, it was only 65. The scheme is generous in that those 65 applicants will get tax relief, on average, of approximately €7,500 for the next seven years. They get back approximately €50,000. That is not the way the scheme was designed but...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Living City Initiative (8 Oct 2020)

Seán Fleming: People could do miraculous work. Ultimately, it will not cost the Exchequer much more. If all those 228 applications did go into the system, although not all of them came out of it, the cost would be €10 million or €12 million; I am only extrapolating the potential figure. I support the call for the grant system and I will speak directly with the Minister involved in that.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I thank the Senator for his comments on the amendment. I will deal with the amendment first before responding to the Senator's points. I understand what is behind the amendment, which proposes the making of a report for laying before the Houses. I reassure the House that it is my intention to lay a post-enactment scrutiny note 12 months after the enactment, in line with Standing Orders. It...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: If I do not cover all of the Senator's points, perhaps she will remind me straight away. Reference was made to a possible influence on the drafting of the original legislation. I would say the need for this Bill goes back to 2015. Every year there has been progress on it. Many people were very much aware of this issue over the past five years. It has not come as a surprise, this year or...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: The first level of cross-party engagement was at the joint committee when it chose----

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: The previous committee chose not to do so. The Business Committee, which met at the beginning of September 2020, was made up of representatives of all parties, including Independents. It decided to waive the requirement for pre-legislative scrutiny of this legislation on 3 September. We are not in a position to overturn a decision made on an all-party basis in recent months.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I am personally not aware of that, and the only commitment I can give today is that I will have a response to that before Report Stage. I do not have the information today. I was not aware the Senator was going to raise that issue. If I had been aware of that in advance, perhaps I could have prepared a response. However, I do not have the information to reply to the question with me. The...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I think I made my position clear on the amendment. What I said is that I would have a response before Report Stage. That was not a commitment to confirm, deny or release any documents. I merely stated I would have a response. Everybody in this House knows well that freedom of information requests are generally refused if the matter relating to it is part of a deliberative process which...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I want to stress that this legislation has been sponsored at all stages by the Minister, Deputy Donohoe. In the last Oireachtas, it was he who liaised with the joint committee and even though the Minister asked for time for legislative scrutiny, it decided not to do so. Only a few weeks ago, on 1 September, the Minister, Deputy Donohoe, wrote to the Ceann Comhairle seeking pre-legislative...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I have no information on that at all.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: The Minister for Finance, Deputy Donohoe, is the Minister responsible. There was no delegated authority to anybody else. The Minister for Finance is the person answerable for the legislation. All the correspondence regarding the Bill has been in his name.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: Section 6 amends section 5(3) of the 1994 Act by changing "fair market value of the property" to "fair and appropriate value of the property" in order to track the language used in the EU directive on alternative investment fund management and its implementation. It also inserts the umbrella fund concept into the legislation, which is essentially one of the principal aspects of this Bill....

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I have explained what is in section 6 and what is relevant to that section. I am confining my comments to the contents of the section in response to a request for information from Senator Gavan. I am dealing with the sections and the amendments as we go through the legislation which is the appropriate approach in this House. We are dealing with the amendments and sections in front of us...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I have answered the question thoroughly, although the Senator may not be satisfied with the answer. We are dealing with section 6 which deals with umbrella funds. I am dealing with the amendments to and sections of the legislation today and issues that are not part of those amendments or sections are outside the scope of this debate. I am sticking to the legislation that is before us today.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed) (7 Oct 2020)

Seán Fleming: I acknowledge the Senator's contribution on the section. On the face of it, I understand why she would say everything she has just said, but there is more to it than that. As Senator Higgins has said, section 7 amends the 1994 Act to permit a limited partner to participate on boards and committees related to an investment limited partnership. This adds board participation to what might be...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Revised Estimates for Public Services 2020
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (6 Oct 2020)

Seán Fleming: I thank the Chairman. I am pleased to have the opportunity to appear before the Oireachtas Select Committee on Finance, Public Expenditure and Reform, and Taoiseach, in connection with the 2020 Estimates for the Department of Finance, Vote 7, and for the other Votes within the finance group: the Office of the Comptroller and Auditor General, Vote 8, the Office of the Revenue Commissioners,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Revised Estimates for Public Services 2020
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (6 Oct 2020)

Seán Fleming: On Brexit, the 330 staff have been employed. Most of the recruitment commenced in 2019 so we are seeing the completion of the process in 2020. In terms of agents for the State in 2021, everybody will appreciate that because of the general election and the formation of the Government, we are very late in coming forward with the Estimates for the calendar year. In a week's time, we will...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Revised Estimates for Public Services 2020
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (6 Oct 2020)

Seán Fleming: Will the Deputy identify the page in order that we can both be on the same page?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Revised Estimates for Public Services 2020
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (6 Oct 2020)

Seán Fleming: Was the Supplementary Estimate the Deputy referred to the Supplementary Estimate for 2019?