Results 1-20 of 419 for likes to work speaker:Michael McGrath

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Ceisteanna ó Cheannairí - Leaders' Questions (13 Jun 2024)

Michael McGrath: I thank Deputy Doherty. I join him in wishing our colleague Deputy Jennifer Whitmore all the best. I did not realise she had taken ill. All our thoughts are with her today. Briefly, I want to congratulate the fantastic 4x400 m relay team of Sophie Becker, Phil Healy, Rhasidat Adeleke and Sharlene Mawdsley that had phenomenal success winning a silver medal at the European Championships....

Seanad: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages (12 Jun 2024)

Michael McGrath: I thank Senator Higgins for these amendments and the work that clearly has gone into them. Several of them were discussed on Committee Stage. In response to amendments Nos. 4 to 6, I would like to make a number of points. The main point to consider is that a finite amount of resources are being deployed from the fund. Adding further objectives would dilute its impact in the existing...

Seanad: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages (12 Jun 2024)

Michael McGrath: ...House for their consideration of the Bill in recent weeks. I thank the House for the broad support - it was not unanimous but there was broad support from the House. It would be remiss of me not to thank the officials in my Department and the Attorney General's office. This was complex legislation. It is unusual that a Bill brought forward can go through the Dáil and Seanad...

Written Answers — Department of Finance: Tax Code (11 Jun 2024)

Michael McGrath: The VAT treatment of goods and services is subject to EU VAT law, with which Irish VAT law must comply. In accordance with the EU VAT Directive, farmers can elect whether or not to register for VAT in respect of their farming business, and each farmer’s decision on this matter affects how VAT incurred on their inputs (such as the purchase of farm equipment) is treated. Under VAT law,...

Written Answers — Department of Finance: Insurance Coverage (28 May 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many sport and recreation clubs regarding insurance cover. Officials from my Department have raised the situation with representative groups in the sector and have found that there does not appear to be a widespread market capacity issue. Of particular relevance to the Deputy’s question, last summer,...

Written Answers — Department of Finance: Tax Reliefs (23 May 2024)

Michael McGrath: By way of background, prior to 31 December 2022, where the combined contributions by an employer and an employee to a PRSA did not exceed the employee’s annual percentage limit (between 15% and 40% of “net relevant earnings”, varying depending on age, up to a maximum relieved salary of €115,000), the contributions were relieved from tax. However, where the combined...

Ceisteanna Eile - Other Questions: Small and Medium Enterprises (21 May 2024)

Michael McGrath: The Deputy's question is about interest rates facing SMEs. The changes in the interest rates being paid by SMEs were directly linked to the monetary policy environment, the ten successive interest rate increases we had from the ECB which worked their way through the system, in particular in respect of floating rate charges, variable rate loan products and then when it came to the re-pricing...

Written Answers — Department of Finance: Enterprise Policy (21 May 2024)

Michael McGrath: As the Deputy is aware, supporting SMEs and farm borrowers has been a cornerstone policy for Government. It is important that all viable SMEs have access to an adequate amount of credit from various sources. To support SMEs in this regard, the Government has implemented several initiatives to enhance the availability of credit. In terms of monitoring the working capital requirements for...

Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Report and Final Stages (15 May 2024)

Michael McGrath: ...the swift progression of this legislation. Section 7 is an important section of the Bill and it is appropriate that we discussed it at length on Committee Stage. As I outlined then in response to these proposed amendments, I believe the design we have arrived at for the investment strategy for the fund is the right policy approach to suit the purpose of this fund. This approach will...

Written Answers — Department of Finance: Insurance Coverage (14 May 2024)

Michael McGrath: ...in the provision or pricing of insurance products. This is set out in the EU framework for insurance – the Solvency II Directive – and limits the actions that Government can take in relation to insurance for thatched properties. Nevertheless, I can assure the Deputy that this Government is committed, through the Action Plan for Insurance Reform, to improving the cost and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: ...that regard. I will say a few words on section 8 first and I will then deal with some of the specific issues that colleagues have raised. Section 8(1) provides the mechanism for contributions to the fund. Subject to section 9, section 8(1) requires that 0.8% of relevant GDP is contributed to the future Ireland fund, FIF, from the Exchequer in each of the 12 years between 2024 and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: Ultimately, that question, which we will come to consider in more detail in section 26, is a matter of judgment. The criteria are laid out within section 26. Factors will have to be considered such as the general Government balance at the point in time, corporation tax receipts, GDP, employment, unemployment and any other such matters that IFAC and then the Minister in his or her...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: I thank the Deputies for their contributions. First, I wish to make the point that the area of housing will benefit from the infrastructure, climate and nature fund. We have to learn the lessons from what happened in recent decades, when investment in housing and other areas of critical public infrastructure was cut from peak to trough by approximately 60% because the funding was not there....

Written Answers — Department of Finance: Banking Sector (25 Apr 2024)

Michael McGrath: ...instance, the nature of policies such as those highlighted by the Deputy are independent commercial decisions. However, cash has an important role in both society and the economy. One way I am working to protect that role is through the Access to Cash Bill 2024. The General Scheme of the Bill was published on 23 January 2024, and aims to ensure that evolution of the access to cash...

Written Answers — Department of Finance: Tax Reliefs (18 Apr 2024)

Michael McGrath: I understand the Deputy’s office have confirmed that this Parliamentary Question relates the Cycle to Work Scheme and a proposal to expand the scheme to include a Bike-to-School provision. Section 118(5G) of the Taxes Consolidation Act 1997 (TCA) provides for the Cycle to Work Scheme. This scheme offers an exemption from benefit-in-kind (BIK) where an employer purchases a bicycle...

Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Second Stage (10 Apr 2024)

Michael McGrath: ...the basis for two new funds: the future Ireland fund and the infrastructure, climate and nature fund. It will also provide for the dissolution of the National Reserve Fund. The Government’s approach to developing these two funds is based on the assumption that a large proportion of the increase in corporation tax seen in recent years is potentially windfall in nature, namely not...

Ceisteanna Eile - Other Questions: Tax Reliefs (10 Apr 2024)

Michael McGrath: Section 22 of the Finance Act 2022 removed the difference in treatment between PRSAs and occupational pension schemes in relation to the funding rules, by abolishing the BIK charge on employer contributions to an employee's PRSA. In addition, employer contributions to an employee's PRSA are no longer counted towards an employee's age related and salary percentage limits on tax deductible...

Written Answers — Department of Finance: Banking Sector (10 Apr 2024)

Michael McGrath: Throughout recent changes to the banking sector, including the departure of two banks from the Irish market, the existing robust financial consumer protection framework has supported consumers of financial services in Ireland. Notwithstanding the strong consumer protection framework in Ireland, the retail banking sector is subject to ongoing change. While some of this is driven by statutory...

Written Answers — Department of Finance: Insurance Coverage (20 Mar 2024)

Michael McGrath: At the outset, I wish to reassure the Deputy that I recognise the concerns felt by many local community groups across the country around the cost and availability of insurance cover for their centres or halls. Insurance reform is a key priority for this Government and is being delivered via the Action Plan for Insurance Reform with the vast bulk of the actions now either implemented or...