The decision by British Prime Minister David Cameron to opt-out of the new fiscal integration arrangements across the EU could have serious consequences for the future of the financial services industry in Ireland, according to Fianna Fáil Finance Spokesperson Michael McGrath. Deputy McGrath stated, “Prime Minister Cameron opted out of the new arrangements because he [...]

At the outset of my contribution, for a moment, I want to honour the memory of my predecessor as Fianna Fáil Finance Spokesperson and the man who delivered the last budget in this House as Minister for Finance one year ago tomorrow, the late Brian Lenihan. I am sure we can all agree on one [...]

Fianna Fáil has today published its budget proposals for 2012. Some of the key points of Fianna Fáil’s proposals include: · 224,000 to be exempt from universal social charge while increasing rate for those earning €115,000 · Greater pension reductions for retired public servants, politicians · No VAT increase · €250m more for capital expenditure [...]

The Minister for Finance Michael Noonan TD has confirmed in reply to a parliamentary question from Fianna Fáil Finance Spokesperson Michael McGrath that the Minister’s estimate of the yield from a 2% hike in the top rate of Vat takes no account of the reduced consumer demand the increase will certainly to. Deputy McGrath stated, [...]

Fianna Fáil Finance Spokesperson Michael McGrath says the latest quarterly mortgage arrears statistics released by the Central Bank this morning underline the need for an urgent and decisive Government response to the growing mortgage arrears crisis. Deputy McGrath stated, “The figures released today by the Central Bank show that, at the end of September 2011, [...]

Fianna Fáil Finance Spokesperson Michael McGrath has said the Minister for Finance Michael Noonan needs to urgently make a statement on reports that details of Ireland’s budget plans for 2012 were revealed to the German parliament yesterday. Deputy McGrath stated, “It is being reported that a document presented to the budget committee of the German [...]

Fianna Fáil Finance Spokesperson Michael McGrath has said “the objectives and targets in the Government’s Medium-Term Fiscal Statement are broadly in line with the objectives and targets outlined by Fianna Fáil in the National Recovery Plan which was published in November 2010 – a plan that Fine Gael and Labour opposed and argued vehemently against.” [...]

Fianna Fáil Finance Spokesman Michael McGrath has welcomed the decision of the ECB to cut its main interest rate from 1.5% to 1.25%, describing it as being “of benefit to the European economy as well as people in difficulty with mortgages and other debts.” “The Minister for Finance Michael Noonan has said he wants the [...]

Fianna Fáil Finance Spokesperson Michael McGrath TD has criticised the Government’s flip flop on paying the Anglo Irish $1Billion bond today, highlighting the massive payday that it has allowed bond market speculators. He commented, “Today Fine Gael and the Labour Party have formally abandoned one of their most important election promises. By writing the $1 [...]

Irish Government commits to repaying debt in full as Greece gets 50% write down The Irish government must use the agreement reached at the euro summit early this morning to reduce the cost incurred by the State in recapitalising Irish banks, according to Fianna Fáil Finance Spokesperson Michael McGrath. Deputy McGrath stated, “At a European [...]