Oireachtas Joint and Select Committees

Tuesday, 30 January 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Tracker Mortgages: Bank of Ireland

7:10 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the initiative in communities. I have been taking part in them for several years and have seen them go from strength to strength. It is a great initiative. That is all the niceties over now.

I would like to read out some of the Official Report of the committee's meeting the last time Bank of Ireland came before it, on 21 September last, for Ms McDonagh. The Chairman questioned Mr. McLoughlin, the chief executive of retail Ireland, and Mr. Mason. The question put to Mr. McLoughlin was: "Did the bank at any time make a promise to those 1,800 that they would be put back on trackers?" This was part of a line of questioning about staff.

Mr. Liam McLoughlin:No, not that I am aware of.

Chairman:Never.

Mr. Liam McLoughlin:Not that I am aware of.

Chairman:Would anyone else be aware of it? Mr. Mason?

Mr. Stephen Mason: No.

Mr. Liam McLoughlin:There was no such promise.

Do we now accept that the document we have would amount to a promise? I know Mr. O'Beirne said a communication was sent out over a month later which withdrew this commitment but can we now accept that this was, in the words of the Chairman's question, a promise to those 1,800. Is point No. 2 not that promise? Would Ms McKenna accept that?

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