Results 1-20 of 232 for long speaker:Michael D'Arcy

Seanad: Financial Provisions (Covid-19) (No. 2) Bill 2020: Second Stage (30 Jul 2020)

Michael D'Arcy: ...I do not see us getting out the door with regard to the pandemic and the virus without a safe vaccination programme being rolled out. As I have said on each occasion I have spoken, the virus will determine how long the stimulus will have to continue. There is no way around that. We also have to be careful. I was hugely disappointed to hear Opposition parties calling this package...

Seanad: Financial Provisions (Covid-19) Bill 2020: Second Stage (16 Jul 2020)

Michael D'Arcy: I wish the Minister of State, Deputy Fleming, the best of luck in his new role. It is a good role and one I occupied not long ago. I am a little surprised that my successor has already been replaced. In that regard, I congratulate the Minister of State's predecessor, the Minister of State, Deputy Jack Chambers, who has joined the Cabinet as Government Chief Whip. This is a really good,...

Seanad: Microenterprise Loan Fund (Amendment) Bill 2020: Second Stage (9 Jul 2020)

Michael D'Arcy: ...be sure about in the July stimulus.The temporary wage subsidy scheme is how we are putting money into businesses but we need to remove "temporary" and it needs to become a wage subsidy scheme. I do not know for how long or how much money will be involved as this will depend on the virus. It will depend on the extent to which the pandemic comes back and has further impact on the entire...

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

Michael D'Arcy: ...level of transparency to the claims settlement area. Section 17 puts limitations on the practice of retention in respect of property damage claims. This practice was brought to my attention not too long ago following Storms Ophelia and Emma, when insurers were applying retention as they saw fit. We are now codifying this aspect of insurance. I again compliment the co-operation of...

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

Michael D'Arcy: .... I disagree with the Senator's logic. Again, it goes back to an ideology.Senator Conway-Walsh's ideology is incorrect. Somebody who is in County Dublin should be entitled to this as well as somebody living a long way from the city centre, from the capital or from the county who has the benefit of buying a house for a much lower price. One could buy a house in my constituency for much...

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

Michael D'Arcy: ...€70,000 per annum. It is my view that a broad-base progressive income tax system where the majority of income tax earners make some contribution, according to their means, is the most fair and sustainable income tax system in the long term. The Department will continue to monitor and consider any additional information and data that come to its attention. The Department will...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael D'Arcy: ...€70,000 per annum. A broad-based progressive income tax system whereby the majority of income earners make some contribution but according to their means is the fairest and most sustainable income tax system in the long term. The Department of Finance will continue to monitor and consider any additional information or data that comes to its attention. It will continue to...

Saincheisteanna Tráthúla - Topical Issue Debate: Life Insurance Policies (13 Nov 2019)

Michael D'Arcy: ...and workings of this type of insurance product. The Central Bank has advised that whole-of-life insurance policies are designed to provide consumers with life cover for their whole life. As long as the policyholder makes regular payments and the payments are sufficient to maintain the chosen benefits, under this type of policy a lump sum will be paid on the death of the policyholder. ...

Seanad: Consumer Protection (Gift Vouchers) Bill 2018: [Seanad Bill amended by the Dáil] Report and Final Stages (12 Nov 2019)

Michael D'Arcy: ...cases where a consumer redeemed only a portion of the value of a gift voucher and the remaining balance on the voucher was more than €1. There is no need for such a requirement, however, for gift vouchers that can be used multiple times as long as a balance remains on the voucher, and it was not the intention to impose a reimbursement requirement in such cases. Section 66B4(a)(ii)...

Finance Bill 2019: Second Stage (Resumed) (24 Oct 2019)

Michael D'Arcy: ...Deputy Burton noted, however, the banks are contributing to the Exchequer through the bank levy. Provisions relating to the bank levy is being introduced in the Bill to ensure that this revenue continues to be collected. Loss relief is a long-standing feature of the corporate tax system and a standard feature of corporation tax systems in all OECD countries. Loss relief is not specific...

Seanad: Budget 2020: Statements (8 Oct 2019)

Michael D'Arcy: ...0.6% of GDP in 2020 but there is a wide margin around this unprecedented event. This reflects the Government's commitment to provide targeted, temporary supports for the most affected sectors and regions along with the impact of slower growth in tax revenues and higher social welfare spending. We are in a strong position to face this challenge. The economy is more balanced and...

Finance (Tax Appeals and Prospectus Regulation) Bill 2019: Second Stage (24 Sep 2019)

Michael D'Arcy: ..., which is important. We hope that this, together with the three additional temporary commissioners, will enable significant inroads to be made in the appeals backlog. Nobody benefits from having too long an appeal on the matter. Deputy Doherty referred to section 13. This was discussed at the pre-legislative scrutiny stage. Some concerns were voiced regarding proposed changes due...

Investment Limited Partnerships (Amendment) Bill 2019: Second Stage (Resumed) (18 Sep 2019)

Michael D'Arcy: ...I am quite self-critical. If I cannot get something moving, I will accept criticism in that regard even though it may not be my fault or that of my Department. This legislation has taken far too long. We need to improve our provision in this area. This sector is too big and valuable to be shoved to the back burners. It provides 16,000 jobs throughout the country, including in the...

Saincheisteanna Tráthúla - Topical Issue Debate: Home Loan Scheme (9 Jul 2019)

Michael D'Arcy: The Rebuilding Ireland home loan scheme launched on 1 February 2018. Prior to its launch, an initial tranche of €200 million of long-term fixed rate finance was borrowed by the HFA to provide funds for the scheme for local authorities. The Rebuilding Ireland home loan scheme is a remodel of two previous schemes provided by local authorities, namely, the house purchase loan and home...

Seanad: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee and Remaining Stages (19 Jun 2019)

Michael D'Arcy: ...history, especially more recently, highlights the importance of creating a fiscal safety buffer to help absorb the shocks that will inevitably come in the future while at the same time ensuring the long-term sustainability of the public finances. Our recent and continuing strong economic performance has given us a valuable opportunity not just to address the remaining effects of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Cost of Insurance Working Group: Minister of State at the Department of Finance (13 Jun 2019)

Michael D'Arcy: ...the EU Solvency II directive. It was recognised that there was much the Government could do to improve the general environment within which insurers operate as well as laying the ground for a more long-term transformation of the insurance market through tackling issues such as award levels. This is the context within which the work of the cost of insurance working group needs to be...

Seanad: National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Second Stage (12 Jun 2019)

Michael D'Arcy: I am pleased to appear before the House to take Second Stage of the Bill. The Bill is an important plank of the medium and long-term policies of the Government, putting our national finances on a sound and sustainable footing and building our resilience to external shocks. The national surplus reserve fund for exceptional contingencies, or rainy day fund, will be an economic buffer...

Vulture Funds: Motion [Private Members] (28 May 2019)

Michael D'Arcy: ...where a regulated entity does not behave properly, the consumer has a right to make a complaint to the Financial Services and Pensions Ombudsman. Last year, we also expanded in the same Act on long-term financial services. There have been 19 actions in nine years. As I said to Deputy Harty, I consider him a fair-minded person. None of that was mentioned in his contribution. There are...

Mother and Baby Homes: Motion [Private Members] (15 May 2019)

Michael D'Arcy: ...are frustrated by the amount of time the commission has taken to carry out this investigation. I also understand that many of the people most affected by these issues are in advancing years and long to see the conclusion of the investigation. We recognise that the time the commission is taking to conduct its inquiries is in line with the mammoth task it has been set. The commission's...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Garda Deployment (15 May 2019)

Michael D'Arcy: ...have the answer to that specific question, but it must be emphasised that the work in implementing the recommendations made in the report of the Commission on the Future of Policing in Ireland is a long-term commitment that will take a number of years to complete. The recommendations made in the commission's report will be implemented on a phased basis in the next four years. A Policing...