Results 61-80 of 6,295 for speaker:Michael D'Arcy

Perjury and Related Offences Bill 2018 [Seanad]: Second Stage (11 Dec 2019)

Michael D'Arcy: I apologise.

Seanad: Consumer Insurance Contracts Bill 2017: Second Stage (11 Dec 2019)

Michael D'Arcy: I would. I do not want to delay the Bill either, but I do want to discuss a number of aspects. The Bill involves a substantial overhaul of the law governing insurance contracts, as recommended by the LRC. It has been subject to a lot of scrutiny and a lot of work has gone into it. I compliment my Dáil colleague, Deputy Pearse Doherty, on the Bill. We have to ensure there are no...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: The level of co-operation is so complete-----

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: -----that Senator Conway-Walsh has read out my note.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: For the record, we looked at it again following Deputy Penrose's observations on Report Stage in the Dáil and we are satisfied that there will not be unintended consequences. We got specialist legal advice and our advisers were also satisfied about the constitutionality of what we are doing.

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: I thank Senators for their remarks and acknowledge the widespread support for the change from three to five years. When we sat down with Deputy Pearse Doherty initially we agreed three years but I have no big problem with changing it to five years. If the insurance industry can provide data covering three years, then it can also provide it for five. That said, I must put it on the record...

Seanad: Consumer Insurance Contracts Bill 2017: Committee and Remaining Stages (11 Dec 2019)

Michael D'Arcy: I want to start where the Bill started, that, is with Deputy Pearse Doherty and the LRC report. I thank Deputy Doherty. As I have said on many occasions in many different areas, in particular on the airwaves, the level of support I have received from both Houses in regard to insurance has been complete. Nobody has once been in any way obstructive in regard to legislation we have to get...

Seanad: Finance Bill (Certified Money Bill) 2019: Report and Final Stages (10 Dec 2019)

Michael D'Arcy: I want to touch on a couple of the issues raised. I will start with the point at which average income earners move on to the higher rate of tax. It has been identified as a significant negative for taxpayers earning an average income in Ireland. We know it is an issue in terms of getting FDI jobs into Ireland. We know people move on to the rate of higher tax too quickly, when they earn...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: Yes, such an employee is eligible for the scheme. It is important to understand that the development agencies working on behalf of Ireland are operating in a competitive sector. It is easy for the Senator to offer a figure of €105 million but there no structure on which that figure is based.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am doing so. In 2017, which is the last year for which we have a final figure, the cost of the SARP scheme was €28.1 million. The Senator's extrapolating of numbers upwards is a concoction.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am not sure how the Senator's figure of €105 million was constructed. I know she does not like dealing with actual numbers.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: We do not have the figures for 2018 or this year. I am giving the Senator the figures I have.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: We do not have the figures for last year or this year.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I said that the Senator concocted a figure for 2020.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: The Senator is plucking a number from the sky so that she can pretend that this scheme is a terrible thing. She referred to specific allocations for healthcare and social protection but she did not mention the overall healthcare allocation of €19 billion for 2020, which is the highest amount ever. She did not refer to the €20 billion budget for social protection. The Senator...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: To put it in context, approximately 270,000 people are employed by foreign direct investment companies. For each one of those jobs there is another job that is linked to those companies. These are extremely valuable companies for Irish employment. The conversations in political chambers can be very pure and the Senators are having a very pure discussion about tax. I would love everybody...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: Have they read it?

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: The report says that this is good value. It is money well spent.

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I agree with it. We will not be changing our view on this at all. The issue here is the amount of tax to be paid. One of the figures I have is very important. The top 1.5% of income earners in the State pay 25% of all income tax and USC. Other figures can show the Senators the position as well. These are the same Senators who disagree with the Taoiseach's wish to increase the threshold...

Seanad: Finance Bill 2019: Committee Stage (3 Dec 2019)

Michael D'Arcy: I am just responding to the Senators.