Results 1,981-2,000 of 49,836 for speaker:Stephen Donnelly
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2014
Vote 13 - Office of Public Works (Revised) (29 Jan 2014) Stephen Donnelly: Does the Minister of State have an overall figure for savings achieved?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2014
Vote 13 - Office of Public Works (Revised) (29 Jan 2014) Stephen Donnelly: My final question relates to Garda stations.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Estimates for Public Services 2014
Vote 13 - Office of Public Works (Revised) (29 Jan 2014) Stephen Donnelly: I will be brief. I have been informed by various gardaí, sergeants in particular, around the country that they are very frustrated at the prices they are being forced to pay by the OPW, as they claim, for the upgrade of stations. I do not have data in this regard; it is all anecdotal evidence. To give an example, one sergeant told me that when he needed to have a room in the barracks...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: I welcome Mr. Sheridan and his colleagues. I am delighted that a light has been shone on this issue. There is a long way to go, but this is a very useful first step. It is a welcome step by the team at the Central Bank. What is the total amount of loans outstanding in the market? I cannot find that information in the report.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Will Mr. Sheridan give me a ballpark figure?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Does that mean that the capital lent is approximately €200 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Am I correct in stating the Central Bank has negotiated different rates with different companies?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Is it the case that each licensed moneylender has its own contract with its own rate?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: What is the maximum rate in the market today?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Is that the maximum?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Does the Central Bank have an open book relationship with these firms? From the nod, it does, which is great.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Does the Central Bank know the return for these firms on invested capital?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Normally in a regulated market the regulator would sit down with a company and work out a reasonable return on the invested capital based on the characteristics of the market and would then work out the regulated price of the service. This is exactly the same. I would expect to see an official from the Central Bank sitting down with a company and saying as it is lending €50 million,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: The Central Bank requires a commercial justification. There is only one justification, the return on invested capital, which is the only game in town. The margin on the amount of money lent is the return on invested capital. If the team at the Central Bank is not looking at the return on invested capital, how is it determining there is a reasonable commercial case to be made for the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Is it possible that the Central Bank has regulated prices to companies that are making returns on invested capital in excess of 50%?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Profitability based on turnover is not relevant. What is relevant is profitability based on invested capital. That is the only metric that is relevant. If the team in the Central Bank does not know what returns they are getting on invested capital, how can it assess the commercial case for a regulated price, which is the interest rate they can charge?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: The key words are "super normal profits." What data is Mr. Sheridan using to determine, if it is not the return on invested capital, whether something is a "super normal profit"?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: What metrics are being used?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: At what point does the Central Bank arrive at a decision that a company is earning a "super normal profit"? What is the maximum profit considered reasonable by the Central Bank?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)
Stephen Donnelly: Why?