Results 41-48 of 48 for 5 million speaker:Michael D'Arcy

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Michael D'Arcy: ...basis. It is simply unable to continue on a current basis from a liquidity point of view, he told the Taoiseach.Can the professor comment on the subsequent analysis by PwC for which it was paid €5 million?

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Michael D'Arcy: PwC was subsequently paid €5 million to carry out an analysis of the banks covered by the bank guarantee. It subsequently discovered, when the report was published, or the analysis was, that the banks were solvent.

Committee of Inquiry into the Banking Crisis: Context Phase (11 Mar 2015)

Michael D'Arcy: The professor made the point that light touch regulation led to the Financial Regulator making the statement to the Taoiseach that the banks were solvent. In light of PwC being paid €5 million to analyse direct-----

Seanad: Access to Finance for SMEs: Statements (19 Nov 2014)

Michael D'Arcy: ...House. The reality with respect to SMEs is that finance becomes irrelevant if people have no spending power. The latest figure indicates that 70,000 more people are back in work; the figure of 1.9 million has been crossed in terms of people who are now back in work. That has a major impact upon small and medium enterprises. Those people who are back in work are able to spend money and...

Seanad: SME Envoy Networks: Statements (3 Apr 2014)

Michael D'Arcy: ...We must put where we are currently into context. I think Senator White mentioned that unemployment is at 11.8%. Much progress has been made from where we were two years ago when it was more than 15%. In the first quarter of this year, the deficit has been reduced by €1.4 billion since this time last year, which is an incredible achievement. There has been a tax take increase...

Seanad: Insurance (Amendment) Bill 2011: Second Stage (15 Sep 2011)

Michael D'Arcy: As I said, Senator Byrne was a primary cheerleader for the previous Government in the other Chamber. We are here as a result of €280 million being required for the insurance compensation fund. Capitalism in Ireland is unique; when a company makes a profit, it pays corporation tax and the dividend is paid, in whatever form, to the directors or shareholders, but when it makes a loss, it is...

Infrastructure Stimulus Package: Motion (Resumed) (29 Apr 2009)

Michael D'Arcy: ...100,000 jobs. Fianna Fáil, which has been in Government for 20 out of the past 22 years, has lost its once famous touch with the electorate. This will be verified in a few weeks' time after 5 June when the local, European and by-elections are held. The old rules established years ago no longer apply. In the past I have advocated reducing the corporation tax level. We are allowing other...

Financial Resolution No. 5: General (Resumed) (6 Dec 2007)

Michael D'Arcy: I am pleased to discuss the first budget since I became a Member. I am concerned about the borrowing of approximately €5 billion for 2008. Department of Finance projections for recent years have not been very accurate. What I describe as the Cowen budgets have, so far, been inaccurate to the extent that from 2004 to 2006, they have underestimated the tax take by about €5 billion. The...