Results 21-40 of 11,049 for speaker:Damien English

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: I will speak to the overall concept of this and then make a number of comments. First, I welcome the changes the Minister is making in respect of the cap. That is a positive for the future of the sector. While everybody here might argue over different parts of it, we all agree with the concept of section 481 and increasing the cap, putting money into film production and trying to encourage...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: I just want to say that I welcome the Minister's response to all the points that have been raised. Co-ordination across the Department is key. Apart from the amendments, there has been a good discussion here, with some good outcomes from it to back up the changes contained in the Bill.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: I welcome this initiative. It is something that has been called for for a number of years. We can build on it, but it is certainly a great start. We must remind ourselves that we are constantly competing for investment. We have many start-ups and innovative companies with good ideas and projects, and it is not always easy to get the money they need to invest. This initiative will help in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: I want to comment on the same topic with regard to the illicit trade of cigarettes. We were talking about all of the taxes earlier on with regard to the supply of coal. There is an enforcement issue here when we have public policy for the benefit of the health of individuals and families, but also when it comes to climate matters and the aims we have there. As a Government we must look at...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: This is not for anyone who falls under the new regulations. This is for those who are outside those, unless I picked the Minister up incorrectly.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: The Minister might be able to clear up a mix-up. That would not be the case if the loans were from three lenders. The €335,000 threshold applies where the loans are from one family member. It does not apply where the loans are from two brothers and a sister, for example.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (Resumed) (8 Nov 2023)

Damien English: I am sorry. I had misunderstood.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: I support the extension of the help-to-buy scheme. It has been a significant scheme which has helped more than 40,000 people to buy a house since 2017. We have to remember why it was brought in in the first place. It was because there was a barrier to purchasing a house. People could not get a deposit and the supply was reflecting that, since that house type was not being built and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: I will make a quick comment on this. I have listened to a great deal of commentary about the help-to-buy scheme for many years and have seen many reports about it. Every report and comment nearly misses what we were trying to achieve. In that regard, this has been one of the most successful schemes we have ever had. Builders were building different types of homes for different customers...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: The original efforts to try to step in to help people were discussed during parliamentary questions in April or May. The Minister said he was willing to try to assist people. The conversation and context was about those who are being hit with massive rate increases, mainly those outside of the non-traditional banks and funds. The Minister was very clear that he was attempting to try to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: My understanding was that it was to give the owner of the PRSA more time to draw down the percentages they want to draw down. Is that not correct? They do not have the rush to take it down, if they are working till 70 or longer than they used to work. That is my understanding of it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: They can draw down more than the 4% a year if they choose to at a later-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: Yes, as they draw it down.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: My understanding is that what a person can pass on to someone else is limited because it is in payout mode, for want of a better term. Only a certain percentage can be passed on to any relative thereafter. That is my understanding.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: My understanding is that if somebody was locked in from the age of 76 and needed to draw more out of the PRSA fund at 76 years of age for whatever reason, they could not draw on it because they were in the payment plan already. They were very restricted if they needed it for-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance (No. 2) Bill 2023: Committee Stage (7 Nov 2023)

Damien English: People now work much later.