Results 181-200 of 1,024 for long speaker:Michael McGrath

Written Answers — Department of Finance: Tax Code (11 Jul 2023)

Michael McGrath: ...for the purposes of determining whether any CAT is payable on a benefit. Where a person receives gifts or inheritances that are in excess of the relevant Group Threshold, CAT at a rate of 33% applies on the excess. In the case of long-term cohabitants who are not related, the relevant Group Threshold is the Group C threshold, which is currently €16,250. In addition to this, a CAT...

Written Answers — Department of Finance: Tax Reliefs (4 Jul 2023)

Michael McGrath: ...entitlement on their input costs. In accordance with the EU rules, Ireland may continue to apply this existing, historic VAT exemption on the supply of domestic passenger transport but, for as long as the exemption remains, the conditions under which the exemption was granted cannot be changed. In fact, the introduction of a new entitlement to VAT recovery for the passenger transport...

Written Answers — Department of Finance: Departmental Correspondence (4 Jul 2023)

Michael McGrath: ...pre-Budget submission to which the Deputy refers was received Wednesday 28 June. The contents will be considered in the context of the forthcoming Budget and the Deputy will be aware that it is a long-standing practice of the Minister for Finance not to comment, in advance of the Budget, on any matters that might be the subject of Budget decisions.

Written Answers — Department of Finance: National Treasury Management Agency (29 Jun 2023)

Michael McGrath: ...and the 10 Year National Solidarity Bond were the first State Savings interest rate increases for approximately 15 years and focused on providing an increased return to savers on the medium to long-term product offering. The key features of State Savings products remain: The repayment of all State Savings money is a direct, unconditional obligation of the Irish Government. Repayment of...

Written Answers — Department of Finance: Capital Expenditure Programme (27 Jun 2023)

Michael McGrath: ...aside to contribute to future ageing and other structural costs. I note the Deputy's point regarding a possible special infrastructure development fund. I would say that work on proposals for a long term savings fund is ongoing and no decisions have as yet been taken regarding its structure or functions.

Written Answers — Department of Finance: Tax Yield (27 Jun 2023)

Michael McGrath: ...has been built on certainty and predictability, and the 12.5% corporation tax rate on trading income has been a cornerstone of that regime for over 20 years. This stability has enabled companies to plan long-term investments in Ireland, generating employment and increasing economic activity. The Deputy will be aware that Ireland signed up to the OECD Two Pillar agreement in October...

Written Answers — Department of Finance: Tax Yield (27 Jun 2023)

Michael McGrath: ...financial institutions would be in the region of this amount, assuming no significant change in the financial performance of the entities concerned. As the Deputy is aware, loss relief for corporation tax is a long-standing feature of the Irish corporate tax system and a standard feature of corporation tax systems in most OECD countries. It recognises the fact that a business cycle...

Written Answers — Department of Finance: Tax Yield (27 Jun 2023)

Michael McGrath: ...that the Census measure of vacancy is a point in time indicator taken on Census night as to whether the property was inhabited or not on Sunday 3 April 2022, and is not intended to be a measure of long term vacancy or that these properties are available for re-use. A dwelling is classed as vacant by Census enumerators if it is unoccupied on Census night, is not used as a holiday home and...

Ceisteanna ó Cheannairí - Leaders' Questions (22 Jun 2023)

Michael McGrath: ...is achievable, is in Ireland's interests and recognises the strategic importance of agriculture to this country and that we already have a sustainable system of food production here, which will continue long into the future.

Ceisteanna Eile - Other Questions: Disability Services (22 Jun 2023)

Michael McGrath: ...to pull together the key Departments to devise a coherent and comprehensive response to the working group report and address the issues the Ombudsman has justifiably raised. This has taken too long. The Government is now focused on bringing forward solutions, which will involve a new scheme. In the meantime, I will continue to ensure the existing scheme is administered. We have about...

Ceisteanna Eile - Other Questions: Fiscal Policy (22 Jun 2023)

Michael McGrath: ...Deputy Smith for his question. On 10 May, my Department published a scoping paper titled Future Proofing the Public Finances – the Next Steps, which outlines some of the merits of establishing a long-term public savings vehicle in Ireland. The paper highlights that corporation tax receipts have effectively doubled since just before the pandemic, with the evidence suggesting that...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Universal Social Charge (22 Jun 2023)

Michael McGrath: .... It is my view that a broad-based, progressive income tax system, where the majority of income earners make some contribution according to their means, is the most fair and sustainable income tax system in the long term.

Written Answers — Department of Finance: Tax Code (22 Jun 2023)

Michael McGrath: ...Reserve Fund to rebuild our fiscal buffers and ensure that these receipts are not used to fund permanent expenditure commitments. My Department has also published a scoping paper which sets out a number of proposals for a longer-term investment vehicle. This will enable Government to use some of this windfall to prepare for the structural fiscal challenges on the horizon, including the...

Written Answers — Department of Finance: Inflation Rate (22 Jun 2023)

Michael McGrath: ...was shared by the Irish Fiscal Advisory Council in their Fiscal Assessment Report published in June. Responding swiftly and decisively to the cost-of-living challenge must also be balanced with the long-term sustainability of our public finances. While the fiscal performance in recent months has been robust, there are, as I have warned many times, real vulnerabilities that we must be...

Written Answers — Department of Finance: Mortgage Interest Rates (22 Jun 2023)

Michael McGrath: ...obligations. Also the other measures which are in place, such as the advice and supports available from MABS and other under the 'Abhaile' scheme and the personal insolvency frameworks which are delivering long term arrangements to insolvent borrowers are important and should be utilised by borrowers in mortgage difficulty. On the issue of capping interest rates, the Governor...

Written Answers — Department of Finance: Tax Yield (22 Jun 2023)

Michael McGrath: ...with an overreliance on potentially transitory windfall corporation tax receipts, while also putting money aside to contribute to future ageing and other structural costs. Work on proposals for establishing such a long-term savings vehicle is ongoing and will take into account the analysis contained in the Department’s paper ‘Future-proofing the Public Finances –...

Written Answers — Department of Finance: Tax Yield (22 Jun 2023)

Michael McGrath: ...in windfall corporation tax receipts have been transferred to the National Reserve Fund to help rebuild our fiscal buffers. My Department has also published a scoping paper – Future-proofing the Public Finances – which sets out a number of proposals for a longer-term investment fund. This will enable Government to use some of this windfall to prepare for the structural fiscal...

Written Answers — Department of Finance: Mortgage Interest Rates (22 Jun 2023)

Michael McGrath: ...obligations. Also the other measures which are in place, such as the advice and supports available from MABS and others under the 'Abhaile' scheme and the personal insolvency frameworks which are delivering long term arrangements to insolvent borrowers are important and should be utilised by borrowers in mortgage difficulty. On the issue of capping interest rates, the Governor of...

Written Answers — Department of Finance: Fiscal Policy (22 Jun 2023)

Michael McGrath: ...from over 70 per cent to approximately 50 per cent by 2030. On the broader question of the treatment of the projected budgetary surpluses, my Department continues to work on proposals for the establishment of a long-term savings vehicle, while also paying down debt and provisioning for additional targeted capital investment. These proposals will take account of the analysis contained...

Written Answers — Department of Finance: Economic Policy (22 Jun 2023)

Michael McGrath: ...and any other obstacles that may arise. A scoping paper entitled Future Proofing the Public Finances – the Next Steps was recently published by the Department of Finance outlining the merits of establishing a long-term public savings vehicle. Such a savings vehicle would earmark windfall corporation tax receipts for the purpose of helping to meet future budgetary pressures. ...