Results 421-440 of 27,945 for speaker:Michael McGrath

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: Next week or the week after. Ideally, next week, but-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: Sure.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: As regards the additional-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: -----items we committed to provide, we will try to do that today-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: -----so that they get across to the committee today.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (Resumed) (8 May 2024)

Michael McGrath: I again thank you, Chair, and thank the committee members and the staff for facilitating this additional session this morning. It is much appreciated.

Written Answers — Department of Finance: Motor Industry (2 May 2024)

Michael McGrath: I am advised by Revenue that the average wait times as provided are correct and that as of 29 April 2024, appointment dates were available for 30 April at the Kells NCTS centre and 6 May at Northpoint/Dundalk NCTS centres. In addition, appointments may become available sooner, due to cancellations which the NCTS booking helpline team allocate in consultation with customers. Online...

Written Answers — Department of Finance: Primary Medical Certificates (2 May 2024)

Michael McGrath: The Deputy should note at the outset that whilst my Department has oversight of the Disabled Drivers and Disabled Passengers Scheme, I do not have responsibility for disability policy. Consequently, I am not in a position to comment on your question about the revision of a previous support scheme, as my understanding is that such a scheme did not fall within the remit of my Department. ...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I thank An Leas-Chathaoirleach and colleagues on the committee for the opportunity to come before them today. I thank Deputy Conway-Walsh for raising this issue. It is probably relevant to the first group of amendments as I read it.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: We have amendments Nos. 2 and 3. Deputy Conway-Walsh's colleague, Deputy Doherty, has an amendment, namely, amendment No. 3, which is around the strategy having regard to the promotion and the economic development and stability of the State, across sectors including housing, infrastructure, energy and water. They come under section 7 but we are on section 6 at this point.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I thank both Deputies for their contributions to the debate on the investment strategy of the future Ireland fund and their proposed amendments to section 7 of the Bill. As I understand, Deputy Nash’s proposal is to provide for the NTMA, in consultation with a member of Government, to develop proposals for investment of the resources of the fund in that sector in order to support...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I thank the Deputies. I want to give the NTMA the capacity to earn the best possible financial return for the State from the investment of the funds we will entrust it with. We have to go back to the primary purpose of setting up this fund. I have looked at the trends and data and the challenges we will face in coming years. In the absence of these funds, and to a lesser extent even with...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I will set out the approach to dealing with ESG in the context of the two funds. In the investment strategy, the NTMA will be required to describe how it proposes to manage ESG risks - in effect, how it will identify and assess such risks as part of its investment process. In addition, the NTMA will be required to set out in the strategy the basis on which it identifies categories of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I have not yet given consideration to the level of detail that will go into the letter of expectations. I will consult on that issue within the Department and across the Government. I would be happy to take the views of the Oireachtas on board and perhaps give the committee an opportunity to input into that before I would finalise such a letter. I have an open mind on the level of detail....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: Environmental, social and governance risks. They are a broad range.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: What I said was that a letter of expectation would issue from me as Minister to the NTMA as regards its investment strategy, which it would then take on board in finalising the strategy, given that the strategy has to come before the Minister and gets put before the Government for consideration and noting.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: Because we are not dealing with the individual ESG risks, of which there are many, in the primary legislation. What we are doing here is setting out the overall framework, the investment policy and then the strategy and setting out how the strategy will ultimately be developed and agreed. It will have to take into account the ESG risks that are set out, but there will be the letter of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: Yes, we are mirroring the provisions in the ISIF legislation in terms of the text referring to ESG, but it is not intended to be an exhaustive consideration of ESG risks. That will be considered by the NTMA, having regard to the legislation, and then it will devise an investment strategy that will come to the Minister.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: There is not a statutory review period but our expectation would be for this to happen approximately every three years.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024: Committee Stage (1 May 2024)

Michael McGrath: I do not want to be overly prescriptive in the review of an investment strategy, which is a considerable body of work. We want the National Treasury Management Agency, NTMA, to make decisions which it believes will maximise the financial return to the State from the investment it makes. I believe a review is appropriate but prescribing the precise period in legislation for when it would...