Results 341-360 of 35,959 for speaker:Pearse Doherty

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: That is fine. I thank Mr. McDonagh. We were led to believe when we were dealing with the pre-legislative scrutiny of the legislation to wind down NAMA that everybody would go into the resolution unit. It has now emerged that is not the case. Is that a fact?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: Just to be clear, and I am paraphrasing here, the heads of Bill are quite clear. They state that all employees of NAMA at the point of dissolution will transfer to the resolution unit. That is what the heads of Bill are saying.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: Okay, but that is my understanding.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: That is what we are trying to tease out. Mr McDonagh will transfer back to the NTMA and not the resolution unit. Is that correct?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: I thank Mr. McDonagh for clarifying that. Can he shed any light on the remuneration that would be paid in that position? He is the head of NAMA, he has overseen a large organisation and he has been paid substantially for that. Will he provide any information to the committee on whether he will be taking a salary reduction when he transfers back into the NTMA?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: The NTMA, which is not here, told us a bit about the NAMA contracts, some of which come to an end when the work in NAMA finishes. Mr. McDonagh's contract is different. When he moved from the NTMA to NAMA, he went from a salary which, I think, was reported in the media as being around €210,000 to a salary of €430,000. He is going back to a State body. It is the taxpayer who...

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: Is Mr. McDonagh aware of the role he will take up in the NTMA at this point?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: Regarding the contract Mr. McDonagh has, can we ask about that? He is the accountable person at this point. He is paid by the NTMA, so we are dealing with the contract he has at the minute. Does his contract have a clause in it that allows for a salary reduction?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: In his contract, Mr. McDonagh is allowed to take a bonus of up 60% of his wages. Is that correct?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: Mr. McDonagh has waived that bonus in the last number of years, I think, if not all of the years.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: When he goes back to the NTMA he will not be an accountable person so we will never know what he is getting. Will we ever find out if he is getting the 60% bonus as well?

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: The NTMA did not turn up to answer these questions.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: I understand it is not of Mr. McDonagh's making but the point is that the Taoiseach of this country stood up in the Dáil and said it would not cost the State any more money because the individual who was to be appointed housing tsar, namely, Mr. McDonagh, was going to be on this salary of €430,000 anyway. Then we had the Minister for Finance commenting on Mr. McDonagh's salary...

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: That is why I am asking and giving Mr. McDonagh the opportunity to correct the record and put his own facts on the table.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: That is fine. I thank Mr. McDonagh for that. The public will look in and say in some cases when they are paying hundreds of thousands of euro for State employees, some of it is not private anymore. We have a job to do there but I understand Mr. McDonagh has come here and answered the question. I will put a question to Mr. McDonagh regarding NAMA's accounts in 2021. He said that one of...

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: It was not openly marketed either. Is that correct, from Mr. McDonagh's memory? It was sold privately.

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Pearse Doherty: I look forward to reading that.

Written Answers — Department of Finance: Financial Services (21 May 2025)

Pearse Doherty: 35. To ask the Minister for Finance to clarify that credit servicing firms, regulated by the central Bank of Ireland, are permitted to hold legal title of mortgages without owning the loan related to the mortgage; and if he will make a statement on the matter. [26347/25]

Written Answers — Department of Finance: Financial Services (21 May 2025)

Pearse Doherty: 42. To ask the Minister for Finance further to Parliamentary Question No.54 of 14 May 2025, to clarify that his Department nor the central Bank of Ireland is aware or collects the data in relation to the number of legal titles held by credit servicing firms in relation to Irish property; and if he will make a statement on the matter. [26365/25]

Written Answers — Department of Finance: Financial Services (21 May 2025)

Pearse Doherty: 36. To ask the Minister for Finance to clarify when a loan related to a mortgage is sold to a section 110 special purpose vehicle and the legal title is transferred to a credit servicing firm, which party is responsible under subsection (5A), provided in section 110, provided no exemptions apply for the tax liabilities on revenue generated from specified mortgages; and if he will make a...