Results 221-240 of 6,295 for speaker:Michael D'Arcy

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: I thank the Senators. I will not discuss insurance now, but as the Leader of the House is present, I will say that I am happy to return to the House to discuss insurance at any point. It is up to the Senators to invite me but I am happy to have a full and wide-ranging conversation about insurance. However, I will correct a statement on insurance. Senator Lawlor criticised the Chief...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: I am happy to correct the record. I expect there will be an announcement pretty soon and at that point I am sure Senator Lawlor would be satisfied to correct the record himself. When I get the opportunity to speak to insurance matters in full, I will put on record exactly the position and where we have come since the passing of the Judicial Council Act 2019 last summer.I remember that...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: Neither does VAT or any other tax. It does not happen. There will be no change in the local property tax until 2021. Perhaps the Senators will be in Government and there will be a person from Sinn Féin in this position. They can then get rid of it and bring in a wealth tax, charge as they see fit and see how it works, because make no mistake about it, capital is very mobile and it...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: They pay no income tax. That is one of the largest figures anywhere. In very few jurisdictions do about one third of the workforce pay no income tax. Look at where the numbers are-----

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: No, we do not.

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: We do not have the largest portion of low-paid employees of any country in the EU. I am just giving the numbers. People start to pay income tax at closer to €18,000, and they do so at 20%, which is a very reasonable rate. The amount of tax paid on incomes up to €35,000 is very low, which is also appropriate. What the Taoiseach wanted to do and what I have always wanted to do...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: I am trying to give people the actual figures. The increase in the carbon tax will amount to an extra €1 for a tank of petrol of 60 l or more and an extra €1.20 for a larger 70 l tank of diesel. The price of a 40 kg bag of coal will rise by 72 cent. Again, if others in the future want to increase or decrease the tax, that will be a matter for future budgets. Senator Mulherin...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: Sinn Féin's standard is €100,000.

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: Sinn Féin also claims that a couple on €140,000 are wealthy. That is two people earning €70,000. Living in County Dublin is expensive.

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: Senator Gavan specifically referred to SARP, KEEP and-----

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: SARP is a good scheme. I travel all around the world. There is nowhere I would not go to try to bring jobs to Ireland. Some of these people earn very high salaries in other jurisdictions at much lower personal income tax rates than ours. They bring these jobs here. SARP is a good structure because when some of these people are brought in, they bring jobs with them. I heard Deputy...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: They are good schemes, they have a purpose and they work.

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: They are good for the employment of people in our country, where we now have 2.3 million people working.

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: Regarding the EII, Senator Ó Céidigh probably said it better than I can. We have too much bank lending to business in Ireland. We have the highest level, or some of the highest levels, of bank lending in any jurisdiction anywhere. Banks are the only funding source for businesses. The EII scheme is a good one. Our businesses must move away from being funded exclusively by banks....

An tOrd Gnó - Order of Business (1 Oct 2019)

Michael D'Arcy: The issue is that a request has been made to the Chief Justice in respect of this matter stating that there is no reason the personal injury committee within the judicial council cannot be formed in an informal manner and act in parallel with the establishment of the judicial council to recalibrate the awards in the five primary areas, which would account for approximately 75% of personal...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: I thank the Chairman and members for the invitation to attend. As the committee will be aware, the Data Protection Act was enacted on 25 May 2018. On foot of that Act, it is necessary to make updated regulations under section 60 to provide for certain restrictions on obligations of controllers and rights of data subjects for important objectives of general public interest in respect of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: The bank requires extra powers to protect the public against harm arising from dishonesty, malpractice breaches of ethics, or other improper conduct. The example we gave was that these restrictions could apply where the exercise of the right may interfere with the prevention, detection or investigation of breaches of the enforcement of compliance with financial services legislation. These...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: May I raise one matter, please, Chairman, in relation to the Migration of Participating Securities Bill, or will I leave it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: I realise that the committee has considered the pre-legislative scrutiny for the Bill. We have a concern about the amount of time it may take to get the report back to the Department and that we may not reach the time schedule, which is to have the legislation concluded by the end of the year. It is a very important piece of Brexit legislation relating to the stamp duty that applies for the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: I appreciate that.