Results 18,001-18,020 of 27,945 for speaker:Michael McGrath

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: Let the general public decide on that issue. The point is that the Irish Fiscal Advisory Council is essentially arguing that known costs which the State must incur - there is no element of discretion and nothing arbitrary about these, as they are eminently predictable - have not been factored into the projections. I refer to the impact that demographics will have on public services....

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: The Minister is a practising politician.

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: The Minister has a duty to explain how the council got it wrong. These are not matters of interpretation but factual issues.

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: It must give its view, which does not have to be a counter-view.

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: The Minister described the Fiscal Advisory Council’s recent report as “interesting pieces of analysis”. It is much more than that because it made some very sharp criticisms. It should be possible to establish, as a matter of fact, whether it is accurate. It states, for example, that the SPU the Minister presented and the budgetary projections do not take account of...

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: From what I hear the Minister saying, he acknowledges that while his political commentary around the spring statement was that there would be scope for an expansionary budget up to 2020, with further tax cuts beyond next year, that is not factored into the numbers.

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: 104. To ask the Minister for Finance his views on the role of the Irish Fiscal Advisory Council in providing commentary and advice to the Government; his plans to address the specific issues raised by the council in its recent assessment of the spring economic statement; and if he will make a statement on the matter. [24577/15]

Other Questions: Irish Fiscal Advisory Council (23 Jun 2015)

Michael McGrath: This question relates to Irish Fiscal Advisory Council and its role. I would like to hear the Minister's view of the recent independent assessment of the Irish Fiscal Advisory Council and to state whether he intends to introduce changes or reforms to the council's work. I wish to raise also the issue of the recent fiscal assessment report from the Irish Fiscal Advisory Council which deals...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael McGrath: I thank the Minister for his reply. Reading between the lines, we are likely to see some movement on this issue in the budget in October. I hope it is a significant move because the changes made over the last few years have been quite drastic. This situation has been created by the increase in the number of people who are liable for inheritance tax, the significant increase in the rate,...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael McGrath: 101. To ask the Minister for Finance his plans to review the way in which capital acquisitions tax is applied, in particular in respect of inheritance of the family home; if he will consider an annual indexation of thresholds, and a reduction in the rate on interest which applies to persons, who by virtue of their circumstances need to pay a capital acquisitions tax bill by instalments; and...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael McGrath: This question relates to inheritance tax. From 2009, the thresholds for the different bands were reduced dramatically. The threshold for parent to child inheritance, for example, fell by almost 60% over the period. That has resulted in an increase of 34% in the number of people liable for inheritance tax. What plan does the Minister have to address the issue? I also touch on the issue of...

Ceisteanna - Questions - Priority Questions: Tax Code (23 Jun 2015)

Michael McGrath: I welcome that the Minister is reviewing a number of aspects of the inheritance tax regime because we have been through a very fraught and difficult number of years. The fact that the threshold for gifts from parents to children has reduced by almost 60% since 2009 is quite stark. We now have a toxic combination of that drastic cut in the threshold, the increase in the rate from as low as...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael McGrath: The Minister may not feel he is in a position to get a response because there is still a week to go. However, I can give a response, which is that, so far, the response from the banks has been deeply disappointing. The fact is a reduction in the fixed rate is not a substitute for a reduction in the standard variable rate. While some customers can make cash savings on their monthly...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael McGrath: I thank the Minister for his response. I am sure it will not have escaped him that, so far, not a single bank has reduced its variable interest rate as a result of the meeting held with him, although there is another week to go. AIB had pre-announced a rate cut before meeting with the Minister, while Bank of Ireland has announced a reduction in its fixed rates. To my knowledge, there has...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael McGrath: 98. To ask the Minister for Finance the number of banks with which officials of his Department have met which have made a definitive commitment to reduce their standard variable mortgage rate, as distinct from offering new fixed rates to customers; his views on the outcome of these discussions; and if he will make a statement on the matter. [24812/15]

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (23 Jun 2015)

Michael McGrath: This priority question relates to the issue of standard variable rate mortgages and, in particular, the issue of the excessive variable interest rates being charged by banks in Ireland to approximately 300,000 variable rate customers. The Minister concluded a series of meetings with the banks about a month ago and they have until 1 July, which is another week or so, to come up with their...

Written Answers — Department of Finance: Credit Register Establishment (23 Jun 2015)

Michael McGrath: 114. To ask the Minister for Finance the reason for the significant delay in establishing a central credit register to date; the implications of this delay for bank lending practices; if he is satisfied that the project will be operational in 2016; and if he will make a statement on the matter. [24578/15]

Written Answers — Department of Finance: Mortgage Arrears Proposals (23 Jun 2015)

Michael McGrath: 123. To ask the Minister for Finance the status of plans for a United Kingdom based charity (details supplied) to provide assistance to bank customers in mortgage arrears; and if he will make a statement on the matter. [24579/15]

Written Answers — Department of Finance: Banking Sector (23 Jun 2015)

Michael McGrath: 124. To ask the Minister for Finance his views on the operation of a voluntary redress scheme for persons who were missold payment protection insurance on their credit card; if this will allow these persons to claim compensation, even if the product was purchased more than six years ago; the maximum amount of compensation available; if similar schemes are intended in respect of purchasers of...

Written Answers — Department of Social Protection: Social Welfare Fraud Investigations (23 Jun 2015)

Michael McGrath: 201. To ask the Minister for Social Protection the amount recovered through Operation DIRT (Deposit Interest Retention Tax) in 2013 and 2014; the total amount recovered by the Operation since its inception; her views on the implementation of the Operation to date; and if she will make a statement on the matter. [25064/15]