I thank both Deputies for those remarks. It proves the point that one of the main actions in the Government action plan for insurance is to promote competition. That is the office I chair. I insist that when people get their insurance premium, the first thing they must do is lift the phone and make an inquiry. Normally, we have found, when people make an inquiry, they get a reduction. If people choose not to do so, we will be encouraging them through increased competition. Another point I would make to people who h…

I propose to take Questions Nos. 12, 42 and 67 together. The programme for Government includes a number of commitments relating to the credit union sector that the Government is progressing. The review of the policy framework is at an advanced stage. Since September 2020, the Department has held extensive engagement with credit union representative bodies to seek their feedback. During June and July of this year, I met with ten credit union stakeholders, including representative bodies, collaborative ventures, serv…

I thank Deputy Nash for the opportunity to address the report on behalf of the Minister, Deputy Donohoe, this evening. From the outset I must point out that, while the Deputy has mentioned the name of a particular company and has gone into its tax affairs in detail here in the Chamber, people will understand that it is absolutely not appropriate for the Minister for Finance to comment on the tax affairs of individual businesses. That is a basic law and understanding of how this Parliament should work. A Minister sh…

I thank the Deputy again. I must reiterate that it would be inappropriate for a Minister or Minister of State to comment on the tax affairs of an individual taxpayer here in the House. The competent authorities agreement that was signed came into effect in November 2018. This effectively brought an end to the single malt structure the Deputy has been speaking about. The objective of the agreement was to counteract the arrangement that sought to take income out of the charge of tax in Ireland on the basis that the c…

The programme for Government, Our Shared Future, includes a commitment to bring forward legislation on the local property tax, LPT, on the basis of fairness and that most homeowners will face no increase in their LPT liability. In addition, there is a commitment to bring new homes, which are currently exempt from this tax, into the taxation system. It is necessary to enact this legislation before the summer recess. This is required to enable the Revenue Commissioners to make the essential technical and administrati…

I am pleased to see the senior Minister, Deputy Donohoe, has arrived. This shows the importance attached by the Government to this legislation as we wind up the session before the summer break. Various issues have been raised and will be discussed with the Minister, Deputy Donohoe, on Committee Stage, which will be commencing in a few moments. I will make some observations on what has been said and on some of the points that have been raised. This has been a very useful, important and interesting debate. Many of th…

Perhaps she would not.

The Senator can come back to that on Committee Stage. We are advised that, under GDPR, to have such a wide-ranging collection of information without good reason could see us run into difficulties and jeopardise the information we can collect. The information we can collect will be helpful, and there is a GDPR issue as to why we cannot get more information on the property owners. Senator Carrigy from Longford mentioned the issue of the spending on local authorities and said some local authorities are losing out. He …

I appreciate the comments from both Senators about the EWSS. It is a scheme that has generated many comments and queries but, overall, people recognise how important it has been to maintaining businesses and, especially, the link between employer and employee during this pandemic period. While people have had regular issues regarding specific amounts, dates, details, conditions, eligibility of businesses, who was eligible and who was not, tax and how the rates were set, everybody who discusses the EWSS acknowledges…

A hospitality task force was mentioned. Everybody knows that will be a matter for the relevant Minister and it is not something which I am in a position to get into today. Senator Higgins mentioned changing the qualifying period. Section 2(1)(a) states, " ‘qualifying period’ means the period commencing on 1 July 2020 and expiring on 31 December 2021 or on such later day than 31 December 2021 as the Minister may specify in an order made by him or her under subsection (21)(a);”. Subsection 21, on page 5 of the Bill, …

The Senators have raised a number of issues and I will try to deal with them as concisely as possible. The Finance Act 2020 provided that the 9% VAT rate would apply until 31 December 2021. It applies to certain goods and services which primarily relate to the hospitality and tourism sector which were then subject to the VAT rate of 13.5%. It has been decided this extension should run until 31 August 2022. I know there are requests to extend it to 2023 given the time it will take for the tourism industry to recover…

As I said yesterday, there is no interest chargeable in the coming year. The interest comes in at 3% in 2022. Employers will be able to warehouse debt so long as they continue to file and make returns. It is important they keep paperwork up to date, know precisely what the liability is and what they will have to pay when the time comes. You cannot come along at the end of the scheme and say you want to warehouse all the VAT and PAYE. You have to keep all the returns up to date so Revenue can fully assess what is go…

I am pleased to have the opportunity to introduce the Finance (Covid-19 and Miscellaneous Provisions) Bill 2021 to the House. This legislation will give effect to some of the decisions announced on 1 June as part of the Government's economic plan, which sets out a new phase of supports for this next stage of recovery as businesses reopen. This Bill is relatively short but it provides certainty to businesses as public health restrictions are eased and allows them to plan ahead as they reopen and resume normal activi…

I handed copies in. I hope they have been distributed.

I hope somebody will be able to get them. I knew I brought them over. I am sorry about that. I appreciate the Senator's intervention. It is important that people have a copy of the script. Qualifying businesses will be able to make a claim for a payment calculated on the basis of three weeks at 10% of the first €20,000 weekly turnover, and 5% thereafter, based on average turnover for 2019, and will be subject to a maximum payment of €15,000. This new scheme is designed to support some of the businesses worst affect…

I thank the Senators who made a contribution today and I will respond as best I can. There will be an opportunity to go into detail on the Bill on a section by section basis when it is examined on Committee Stage tomorrow morning. The Bill gives effect to some of the decisions announced on 1 June as part of the Government's economic plan, which sets out a new phase of supports for this next stage of recovery as businesses reopen. Many speakers acknowledged the scale and speed of the Government's response with vario…

I move: "That the Bill be now read a Second Time." This Bill will implement the key recommendation in the November 2018 review of personal contract plans, authored by Mr. Michael Tutty, which was to extend the relevant provisions of the Central Bank's consumer protection code to all the providers of hire purchase and personal contract plan agreements to consumers. Personal contract plans, which are generally referred to as PCPs, have become particularly prevalent in the financing of new car purchases by consumers. …

I am pleased to support the Finance (Covid-19 and Miscellaneous Provisions) Bill 2021, which will give effect to some of the decisions announced as part of the Government's economic recovery plan. This legislation will help to support our citizens and businesses during the next stage of our country's recovery. Following public health advice and the risk posed by the Delta variant of Covid, particularly to those who are not yet fully vaccinated, the next phase of reopening will be based on a cautious approach. We ar…

I thank the Leas-Cheann Comhairle for the opportunity to discuss the future of banking services for the public. I thank the Minister, Deputy Donohoe, for sharing time with me for this important debate. The Minister has set the scene for current developments in the banking sector, whether legislative, EU-driven or resulting from market announcements. All of these matters frame the discussion on the future of banking. I will follow the Minister's comments by updating Members on some key issues which cut across my are…

I thank the Deputies for sharing their views. There were 16 or 17 speakers, which indicates the significance that Members attach to this issue. Sessions such as this show the range and volume of issues that require consideration when there is an attempt to dissect a system that touches on so many elements of our daily lives. It is also a very good reminder of the pressure that banking is under due to changes in technology and regulatory requirements on one hand and the demands on banks by customers who see the worl…