Results 18,701-18,720 of 35,924 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Pearse Doherty: I will just clarify that because it is a very important point. The point that has been made here is that the difficulty is the legislative proposals we in the Houses of the Oireachtas could introduce for privately owned banks or State-owned banks, regardless of the ownership structure, as opposed to the fact the banks are owned by the State.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Pearse Doherty: It is really the role that the State takes on the banking sector, regardless of whether the banks are private or public, that is the deterrent.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Competition and Consumer Protection Commission (20 Jun 2017)

Pearse Doherty: I thank the witnesses. I know I picked up the bits that I wanted to challenge in terms of the report but it is a very comprehensive report and those involved obviously put a lot of work and effort into compiling it. I thank them for doing it as it helps us with our overall discussion of the mortgage market.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: I thank Mr. Honohan and the previous speakers for their contributions. I commend them, as a group, on the efforts they have made. I was taken by Mr. Reilly saying certain people's lives have been put on hold trying to get this across the line. It is not very often we see legislation written from outside the confines of the Houses of the Oireachtas. I commend the witnesses on doing that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: Hopefully, Fine Gael will indicate that it is a vehicle it wants to go with or perhaps Fianna Fáil, which is keeping the Government in position through its confidence-and-supply arrangement, will indicate that. I am sure that if there is a will, we can find a mechanism to introduce a vehicle of this nature. On funding, it is stated in paragraph 26 that the co-op could raise money...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: From what source would the initial capital come?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: Money would be raised on the international markets on the basis that the co-op would start to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: The NAMA scenario is very similar to what is being proposed here. The only difference is that in terms of the issuance of bonds, they were State-backed bonds. I was interested to see if they would be State-backed or not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: Mr. Honohan should correct me if I am wrong. In the context of the timeframe, there are three different ways in which the property would be purchased from the financial institution. The first is an agreement with the financial institution based on the market value at a certain date - 31 December 2016 - the second is through a compulsory order and the third is through the open market. What...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: How would that work hand in hand with EU state aid and competition rules in terms of a case that could be taken by a potential bidder for a property which a bank was about to sell but which, under the legislation that would have been passed, it would have to sell to the co-op?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: That is fair enough because they see part of it deals with that issue that they can continue to oppose-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: While there are many failures in the mortgage market, what I find sickening is that, in the event that this legislation gets to the floor of the Dáil, is discussed on Committee Stage and progresses, we will end up dealing with State agencies. Allied Irish Banks and Permanent TSB are State agencies and we should not have to create another agency or vehicle in terms of those branches of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: On the timeframe, property will be purchased from the banks using either model A, B or C. Does Mr. Honohan have an indication of the number of mortgages of home owners and buy-to-let mortgages that would eventually be in the co-op? Perhaps he will explain why we would set up this co-op for professional investors or others who may use properties as their family's pension fund and so forth.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: On the timeframe involved, does Mr. Honohan envisage that the co-op would exist indefinitely? The ultimate aim is that borrowers would be able to purchase back the properties at some stage, which may or may not be the case. Would the co-op always have a foothold in the market in respect of renting?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Irish Mortgage Market: Right2Homes (20 Jun 2017)

Pearse Doherty: I thank Mr. Honohan and the other witnesses.

Written Answers — Department of An Taoiseach: Departmental Expenditure (20 Jun 2017)

Pearse Doherty: 115. To ask the Taoiseach the expenses incurred by his Department on insurance of all types of in each of the past five years; the cost of each insurance policy held by his Department over the same time period per annum; and the same data for all bodies under the aegis of his Department [26513/17]

Written Answers — Department of An Taoiseach: Central Statistics Office Data (20 Jun 2017)

Pearse Doherty: 119. To ask the Taoiseach if the CSO will produce more granular data on the cases of white collar crime. [26590/17]

Written Answers — Department of Finance: Company Liquidations (20 Jun 2017)

Pearse Doherty: 208. To ask the Minister for Finance the number of outstanding claims with regard to a company (details supplied) awaiting payment in increments of €100,000, in tabular form; and if he will make a statement on the matter. [26602/17]

Written Answers — Department of Finance: Real Estate Investment Trusts (20 Jun 2017)

Pearse Doherty: 241. To ask the Minister for Finance the tax treatment of Irish REIT shares which are given as share based remuneration to employees of Irish REITs. [27116/17]

Written Answers — Department of Finance: Real Estate Investment Trusts (20 Jun 2017)

Pearse Doherty: 242. To ask the Minister for Finance if non-resident shareholders in Irish REITs are not subject to capital gains tax upon disposal of their shareholding provided that there is an uplift in the value of their REIT shares. [27117/17]