Houses of the Oireachtas

All parliamentary debates are now being published on our new website. The publication of debates on this website will cease in December 2018.

Go to oireachtas.ie

McGrath, Michael

Tuesday, 4 November 2014

Dáil Éireann Debate
Vol. Nbr.


Nursing Homes Support Scheme Administration (Continued)

I thought only senior Ministers were to take Topical Issues.More Button

Finance Bill 2014: Second Stage (Continued)

I welcome the opportunity to speak on the Finance Bill 2014, which gives effect to the measures announced in budget 2015. It is just three weeks since the budget was introduced, though it must see...More Button

We were told the Commission for Energy Regulation set the prices and that a family comprising two adults and two grown-up children living at home would receive a bill of €483. The Government sai...More Button

The Minister was quite perceptive drawing up his Finance Bill when he decided not to include tax credits in regard to water charges. Given that it has already been suggested that the proposed €1...More Button

When the Minister does get to bring forward his proposals on Committee Stage in respect of this Bill, and assuming water charges have not been abandoned completely by then, I would suggest that h...More Button

The Government needs to clarify the issue. The Minister for the Environment, Community and Local Government, Deputy Alan Kelly, did not rule out such a move when asked about the matter today. It ...More Button

I repeat the view I expressed on budget day - namely, that the Government has been somewhat premature in its decision to swerve from a planned €2 billion adjustment to a €1 billion giveaway in budg...More Button

The Government's income tax package is a mishmash. It made significant play in recent months about cutting the marginal rate. We were told that high marginal tax rates were impeding foreign direc...More Button

If the 20% deposit rule is too high, I believe the place to make that case is through the Central Bank consultation. We cannot have conflicting national policies in operation.More Button

It is disappointing that the Minister has not reviewed the thresholds on inheritance tax. The level at which an individual has to pay capital acquisitions tax on a gift or inheritance from a par...More Button

The Minister could also have taken the opportunity to deal with the upcoming property tax bombshell that his backbenchers have been warning him about. The Government included a provision in the ...More Button

Even if there is a slowing in the current rate of growth in property prices, it is likely that the next valuation date will see many homeowners having to revise the valuation basis for their prop...More Button

One other area in respect of the local property tax where the Minister had promised action is in allowing the local property tax to be a deductible expense for landlords. He has previously signa...More Button

In replies to some parliamentary questions, the Minister had given some hope that he would tackle the problems of people I would call accidental landlords. A combination of falling incomes, risi...More Button

In practice, thousands of families are in significant financial difficulty, having to subsidise mortgages on their homes as well as facing significant income tax bills. A family with a €300,000 ...More Button

I would like to mention the taxation treatment of alcohol. It is generally accepted that alcohol consumption in moderation does not pose substantial health risks and is an undoubted part of soci...More Button

In regard to the enterprise measures included in the budget, the best description I can give of them is that they are hit and miss. While there are some welcome developments, domestic entreprene...More Button

The self-employed will again be disappointed that there has been no improvement in their relative tax treatment. In so far as possible, the tax system should treat people in an equitable manner....More Button

I would like to have seen greater action to deal with the issue of lack of credit, which is affecting SMEs, particularly through the introduction of tax relief for individuals making loan capital...More Button

I welcome the changes to the research and development tax credits, which, in my view, will enhance the offering we are making to companies. It can be a significant gateway to real investment and...More Button

I also welcome the changes to the special assignee relief programme, SARP, which is an attractive regime for mobile talent and clearly improves the attractiveness of this location when a company ...More Button

In conclusion, this budget has been a disappointment to the general public. The Minister had a real opportunity to use the scarce resources that have become available in a socially progressive m...More Button

The enterprise measures in the budget lack imagination. The economy has become dangerously lopsided with areas outside Dublin being left behind in the economic recovery. Hopefully, the Minister w...More Button

Mortgage Arrears: Motion [Private Members] (Continued)

I welcome the opportunity to contribute to this debate and thank Deputy Joan Collins and the other members of the Technical Group for tabling this motion. I apologise that I was not here to listen...More Button

Tonight's debate is vital as there may be a sense of complacency when it comes to the issue of mortgage arrears. The issue has not yet been dealt with and, while action is being taken by the ban...More Button

The code of conduct on mortgage arrears is at the heart of this motion. It was introduced in 2010 and has served borrowers well, in general, by providing a rule book lenders must abide by when dea...More Button

I mentioned that different banks are taking different approaches but this can also happen within institutions depending on the person a borrower must deal with. This happens because banks are no...More Button

Deputy Barry is correct that there is movement and some deals are being done. Some cases are being handled sympathetically - I have been involved in some and the outcomes were fair - but in othe...More Button

The definition of a sustainable solution to a mortgage arrears problem is set out towards the back of the mortgage arrears targets programme document and it simply states that a bank must satisfy i...More Button

What we are really lacking in this country is a competitive banking sector. In the United Kingdom and the rest of Europe a normal switcher mortgage market is available. If a person is paying over...More Button

There is an issue with the code of conduct on mortgage arrears. I imagine the Minister of State is aware that the Central Bank has not imposed even one sanction on any bank in this country for f...More Button

There is a commitment in the Government amendment to deal with the issue of regulating third parties not regulated currently by the Central Bank but which are holding mortgages. This needs to be...More Button

The Insolvency Service of Ireland has been an abject failure in respect of its role as a vehicle to deal with mortgage arrears cases and this must be dealt with. No more than a few dozen individ...More Button

The mortgage-to-rent scheme needs to be revamped. It is not working. Again, only a few dozen cases have been completed. Deputies are trying to help people to work their way through the mortgag...More Button

The Central Bank has proposed new mortgage deposit rules. The bank is advocating a 20% deposit, which I believe is excessive and will result in social engineering. It will ensure home ownership...More Button

The mortgage arrears statistics are coming down and that is to be welcomed, but we need to examine the numbers with a degree of caution and scepticism. The overall numbers are coming down but, a...More Button

Job Initiatives

Asked the Tánaiste and Minister for Social Protection: if she will address a matter raised in correspondence (details supplied) regarding the supported employment initiative.More Button

Pension Provisions

Asked the Tánaiste and Minister for Social Protection: her views on the option of retirement on a transitional payment until retirement age is reached (details supplied); and if she will make a statement on the matter.More Button

Universal Social Charge Payments

Asked the Minister for Finance: if he will address a matter raised in correspondence (details supplied) regarding the universal social charge.More Button

Bank Restructuring

Asked the Minister for Finance: if his attention has been drawn to the fact that a State supported bank is planning to outsource a number of functions (details supplied); the number of employees who will be affected; the plans th...More Button

Financial Services Ombudsman

Asked the Minister for Finance: his plans to change the rule whereby a person can only submit a complaint to the Financial Services Ombudsman in respect of a product sold to them within the past six years; if he accepts that this...More Button

Asked the Minister for Finance: the further recourse a person has if the Financial Services Ombudsman decides against them in respect of a complaint which has been submitted; his plans to introduce changes in the area; and if he ...More Button

National Pensions Reserve Fund Investments

Asked the Minister for Finance: the financial exposure of the National Pensions Reserve Fund and other agencies under the National Treasury Management Agency to the planned incinerator at Poolbeg, Ringsend, Dublin 4; and if he wi...More Button

Tax Data

Asked the Minister for Finance: the total number of interest paying accounts on which DIRT tax was paid in each year from 2011 to 2013; and if he will make a statement on the matter.More Button

Asked the Minister for Finance: the average payment of DIRT tax per eligible account in which a DIRT tax liability arose in each year from 2011 to 2013; and if he will make a statement on the matter.More Button

Asked the Minister for Finance: the tax forgone as a result of the DIRT tax exemption scheme in 2011, 2012 and 2013; and if he will make a statement on the matter.More Button

Asked the Minister for Finance: the number of deposit-savings accounts yielding less than €10,000 in DIRT tax; €10,001 to €25,000, €25,001 to €50,000, €50,001 to €100,000, €100,001 to €200,000, €200,001 to €300,000, €300,001 to €...More Button

Asked the Minister for Finance: if he has examined the feasibility of charging DIRT at the account holders' marginal tax rate rather than a flat rate of 41%; and if he will make a statement on the matter.More Button

Tax Yield

Asked the Minister for Finance: the amount raised to date from the bank levy introduced in budget 2014; the number of institutions on which the levy was applied; and if he will make a statement on the matter.More Button

Asked the Minister for Finance: the yield in each year from 2011 to 2013 from income tax, PRSI and USC on income from the rent received by landlords from residential properties; and if he will make a statement on the matter.More Button

Budget 2015

Asked the Minister for Finance: the projected structural deficit for 2015 and 2016; the medium target for closing the structural deficit; and if he will make a statement on the matter.More Button

Housing Loans

Asked the Minister for Finance: if the Central Bank of Ireland's loan to value restrictions on buy to let property purchases as currently proposed will apply to funds or real estate investment trusts acquiring residential propert...More Button

Stamp Duty

Asked the Minister for Finance: if he will clarify if stamp duty may be applied to the sale or transfer of loans by Irish regulated financial institutions; and if he will make a statement on the matter. More Button

Irish Water Funding

Asked the Minister for Finance: the total amount of equity capital that has been provided by the State to Irish Water to date; the planned equity investments in 2015 and 2016; and if he will make a statement on the matter.More Button

Asked the Minister for the Environment, Community and Local Government: further to Parliamentary Question No. 1562 of 17 September 2014, the projected revenue that will be raised by Irish Water in 2015 based on the finalised charging structure from the Commission for E...More Button

IBRC Mortgage Loan Book

Asked the Minister for Finance: the number of mortgages still held by IBRC in special liquidation; the proportion which are residential mortgages and buy to let respectively; the arrears rate; and if he will make a statement on t...More Button

Asked the Minister for Finance: if he is satisfied that all potential bidders for a certain commercial loan book being sold by the IBRC special liquidator (details supplied) had equal access to the books and records of the underl...More Button

Tax Reliefs Cost

Asked the Minister for Finance: if he will provide in tabular form the number of persons who availed of the tax credit in respect of service charges in each year in which it applied; the annual cost during the years in which it a...More Button

Insurance Compensation Fund Drawdown

Asked the Minister for Finance: the costs incurred to date by the administrators of a company (details supplied) for the rescuing of the company; the likely final cost; when the administration process will be completed; and if he...More Button

Home Renovation Incentive Scheme Eligibility

Asked the Minister for Finance: his plans to introduce tax relief for persons who carry out remedial works on their own septic tank; and if he will make a statement on the matter.More Button

Mortgage Interest Relief Eligibility

Asked the Minister for Finance: if mortgage interest relief will be available to a person who purchased a property as a first-time buyer in 2008 and who subsequently rented out the property but is now residing in the property as ...More Button

Tax Exemptions

Asked the Minister for Finance: in the context of other tax changes in the budget, the reason he did not review the income exemption limits for people aged over 65 years of age and the marginal relief rate of 40%; and if he will ...More Button

Property Taxation Yield

Asked the Minister for Finance: further to Parliamentary Question No. 119 of 8 April 2014, his estimate of the cost of allowing the local property tax to be deducted as an expense by landlords; and if he will make a statement on ...More Button

Tax Settlements

Asked the Minister for Finance: the position regarding an appeal submitted to the Revenue Commissioners by a person in County Cork (details supplied); and if he will make a statement on the matter. More Button

Drug Treatment Programmes Places

Asked the Minister for Health: the total number of people receiving methadone broken down by Health Service Executive areas; the number of doctors prescribing methadone broken down by HSE areas; the cost of methadone to include ...More Button

Student Grant Scheme Administration

Asked the Minister for Education and Skills: in respect of the student grant scheme for third level, if rental income is included on a gross basis or net of certain expenses and allowance; and if she will make a statement on the matter.More Button

Irish Airlines Superannuation Scheme

Asked the Minister for Transport, Tourism and Sport: the position concerning possible changes to the pensions of persons currently in payment under the Irish airlines superannuation scheme pension scheme; if his attention has been drawn to the hardsh...More Button