Results 1,741-1,760 of 34,616 for speaker:Seán Fleming

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Second Stage (30 Jul 2020)

Seán Fleming: Senator Bacik can make the case here on Committee Stage. Reference was also made to farmers and the cycle-to-work scheme.

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Second Stage (30 Jul 2020)

Seán Fleming: They are not specifically included in that. I think the reason is that the self-employed are not included. The reason generally is that the cycle-to-work scheme is administered through the employer, through the PAYE system, so it is really suitable for people who have an employer and can work through the PAYE system. The self-employed are not in that category. I do not suggest it will...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (30 Jul 2020)

Seán Fleming: I understand what is being said. As I indicated, we are not proceeding on a sector-by-sector basis. The July stimulus includes a suite of measures covering approximately 50 items, eight or ten of which are included here. We will discuss legislation covering other matters tomorrow, and we already discussed a number of matters earlier in the week. Some of the Government measures take the...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (30 Jul 2020)

Seán Fleming: There are two aspects to this. We do not want to give the Minister too much power to decree through a statutory instrument a measure which should take the form of legislation. Such measures must be debated here. There is also a practical administrative reason related to the Revenue database on specific sectors. Many businesses could be in similar sectors or could be involved in multiple...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (30 Jul 2020)

Seán Fleming: I understand what Senator Bacik is saying and the issues she raises, which are very valid. They cannot, however, be accommodated in this legislation. The recommendation seeks to restrict the hiring practices of employers who want to access the TWSS, the EWSS or the special warehousing and interest provisions already contained in the Bill. It proposes that entry to such schemes would mean...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (30 Jul 2020)

Seán Fleming: The Senator will appreciate that I am here today to deal only with this particular Covid-related legislation. This scheme is solely administered by the Revenue Commissioners. Everybody understands that we do not want the tax office adjudicating on matters of labour law or the rights of people to seek representation through trade unions. I am aware that the intentions are good, but I...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (30 Jul 2020)

Seán Fleming: I understand the principle behind the recommendation and the spirit in which it is proposed. I have outlined the particular difficulties we have in asking Revenue to get into dealing with employment law. The Senator correctly noted that there is already provision in the legislation to address a situation where an employer might let somebody go and then hire two new people. She is correct...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: We have had a good debate on this. Everyone accepts, and I accept, the position of proprietary directors. They were included in the TWSS and there is a change in this legislation. I am not sure of the rationale as to why they were included previously but are excluded now. However, generally, the Senator has highlighted that a special measure relating to proprietary directors is not unique...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: I note what the Senators have said. This is a particularly excellent section of the legislation that encourages first-time buyers to save and accumulate a deposit, difficult as that is. The State is standing by them by helping them to buy their first home. What could be wrong with that? It is a good scheme from beginning to end. It helps first-time buyers and it helps to increase the...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: We discussed this earlier. The VAT changes in the Bill are economy wide. We did not pick a particular sector to reinstate the 9% rate. There are a number of other elements in the stimulus package that can help businesses in the hospitality sector. This is just one aspect of the overall July stimulus package we are dealing with. The approach was to give this VAT reduction across the board...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: I thank the Senator for bringing up this matter. We have had a discussion on it. I want to clarify one or two issues and respond to the general point made by the Senator.I assume the intention of the Senator's recommendation is to propose consideration of restricting corporation tax loss reliefs for banks to a maximum of 50% of their profits each year. That was the position at the time of...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: It was 100% but it was amended subsequently to allow them bring 50% of their losses forward. I want to explain this section, which is something that is connected but quite different. For the purposes of clarity, I want to note that section 11 does not restrict loss of relief. Rather, it introduces a temporary acceleration of losses relief in respect of 50% of the losses expected to be...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: In simple English, it means that in respect of a company that was in profit last year, paid corporation tax on it and is now expecting to have a loss this year, there is provision that it can carry losses forward from one year against its profit next year because business does not operate on a 12-monthly cycle. The business cycle can run for a period of years. In some years businesses can...

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Committee Stage (Resumed) and Remaining Stages (30 Jul 2020)

Seán Fleming: Section 12 sets out to reduce the standard rate of VAT from 23% to 21% on a temporary basis from 1 September. The recommendation seeks a report from the Department within five months after the enactment of the Bill. This effectively means a report will be required by the end of the year. The reduction comes in on 1 September but VAT is mostly paid in a two-monthly cycle in arrears, so the...

Saincheisteanna Tráthúla - Topical Issue Debate: Insurance Industry (29 Jul 2020)

Seán Fleming: I thank Deputy Dillon for coming back with a specific question about the action that has been taken. The programme for Government has highlighted this issue as a key matter to be dealt with by the incoming Government. Already, there has been a meeting involving four senior Cabinet Ministers and the Minister of State, Deputy Troy, and I with representatives of small businesses. We met face...

Saincheisteanna Tráthúla - Topical Issue Debate: Insurance Industry (29 Jul 2020)

Seán Fleming: Go raibh míle maith agat, a Cheann Comhairle. I thank Deputy Dillon for raising this matter. In his contribution, he outlined the importance of the issue of insurance cover during the Covid-19 pandemic and the difficulties people are experiencing with many of the insurance companies upon which we have relied over many decades. This is an issue which is cropping up all over Ireland....

Seanad: Financial Provisions (Covid-19) Bill 2020: Second Stage (16 Jul 2020)

Seán Fleming: I thank the Acting Chairman. We brought this Bill into the Dáil on Tuesday, with the former of State at the Department of Finance, Deputy Jack Chambers, dealing with it. Yesterday was the second day we spent debating it, with thanks to the Minister of State, Deputy Patrick O'Donovan. Interestingly, I was one of the Government backbench speakers on this legislation on Tuesday night and...

Seanad: Financial Provisions (Covid-19) Bill 2020: Second Stage (16 Jul 2020)

Seán Fleming: I thank the Acting Chairman. As I said already, on Tuesday evening I was contributing to the Second Stage debate as a Government backbencher. Some 36 hours later I am here. I thank the Members for the goodwill and good wishes that have been expressed in the House today. I really appreciate that. I want to respond as quickly as I can to the various comments. I might not pick up on...

Seanad: Financial Provisions (Covid-19) Bill 2020: Committee and Remaining Stages (16 Jul 2020)

Seán Fleming: I appreciate the Senator’s comments. However, this legislation has to pass. While the Bill is seven pages long, the schedules are lengthy and have been agreed by all of the 27 EU countries. I do not think any country can unilaterally change them without the consent of the other 26. The points the Senator makes will be very appropriate in the context of the upcoming budget...

Seanad: Financial Provisions (Covid-19) Bill 2020: Committee and Remaining Stages (16 Jul 2020)

Seán Fleming: I stated earlier that, as a result of the debate in the Dáil, the Minister has given a commitment, in the context of payments into the fund or repayments to Ireland, that there will be a report within three months. The details will be included in any annual or subsequent report. The Minister has also committed that when the fund's annual audited statements are approved, including by...