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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Is the Central Bank going to meet the group? It gave a commitment to meet it in the context of Ulster Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I look forward to the day when after the redress and compensation is done, there is a line up of families and individuals with the banks saying they messed up and a photograph of them handing over a big fat presentation cheque. Then we will know they are taking it seriously and that the culture in the banks has changed. My view of the banks is they have not changed their culture. They are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: That is laughable because an investor wants his investment to pay up and those on the boards want the same thing. I remind the Central Bank again that it wears the consumer protection hat and that is where the consumer will turn. I would hope that it has enough skills in its organisation and power in terms of legislation to protect the small to medium sized enterprises, SMEs, in this...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I take it that the meetings will be arranged on a quarterly basis, as this is important.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: I will take up a point Deputy Michael McGrath made. I hope we are not all beginning to buy into the narrative most of the banks are spinning, namely, that there have not been enough repossessions to impress upon banks that are not already represented here that there is security for their funds and that we need more repossessions to impress them. The representatives of the Bank of Ireland...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Does Professor Lane think the banks had conversations about the tracker issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: Except that they are all doing it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland: Central Bank of Ireland (20 Dec 2016)

John McGuinness: It smells a little bit.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: I thought the Department would have had all of the information being sought by the amendment, which appears to me to be reasonable enough. If the Department has all of the information, then rather than wait for the three months proposed in the amendment, the Minister should publish it. I am particularly interested in the information the Minister has gathered from the local authorities....

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: They do not talk to one another.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: Do something about it.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: It is common sense.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: No, it is not because last week we were told by Bank of Ireland there were some 600 units vacant in Dublin.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: The Minister is standing over local authorities which do not deliver houses in their areas. They are bound by their planning rules and poor housing strategies. That is why people are stuck on the housing lists. There is no doubt the rent they will pay will increase significantly in properties which are, in my opinion in some cases, substandard. Then, one will have landlords who will be...

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: I take the Ceann Comhairle's advice but a number of us were sitting here all day yesterday listening to the debate and while we are focused on a particular aspect of the Bill now and there are many other amendments, this is an important aspect. I suggested to the Minister last night that he might withdraw the Bill at that stage and get the house in order and then come back in. I think he...

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: But you are.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: The Deputy seated in front of me is nodding in agreement with the Ceann Comhairle but I do not agree with the Chair on this aspect because yesterday Deputy Wallace was making the same points and others have made the same points.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: To deal with the specifics, as I was saying-----

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: The reason these issues are being raised is that they are ongoing, Nothing has been done about them.

Planning and Development (Housing) and Residential Tenancies Bill 2016 [Seanad]: Report Stage (Resumed) (16 Dec 2016)

John McGuinness: No. If the Minister takes account of the number of houses in Dublin that are now vacant and owned by the banks-----

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