Results 20,321-20,340 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: What we heard from the Central Bank, as Mr. Deering knows because I know he was following the hearing, was that it would expect that if a decision made is in favour of the complainant it would expect the lender to apply that across the board to other cases in the basket, provided the circumstances and characteristics are similar. Mr. Deering will facilitate this.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: It might save him work.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: The number of tracker-related complaints Mr. Deering has closed out so far is 455. Mediation is the most popular way of resolving them. It is great to see that is working in approximately half of those cases that were closed out. Some 146 cases were closed during the investigation, adjudication and legal services process. Why is that figure so much higher than the number of decisions made?...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: The case settled is in effect.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: Is that recorded as an outcome by the Financial Services and Pensions Ombudsman?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: Is the detail of that outcome recorded?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: It is placed in the category of having been investigated and adjudicated and is then closed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: Few cases have gone to full decision so far.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: I have a couple of other quick questions, if I may. On the length of time it takes to deal with a complaint, what is the timeframe for dealing with a complaint that comes in to Mr. Deering's office in November 2019?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: While we hope that most complaints will not go the distance, if a complaint goes the distance, full investigation and adjudication does not work and a decision is required, the process takes between 12 and 18 months.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: Has Mr. Deering received complaints on the issue of insurance and dual pricing?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: On the issue of price differentiation in the mortgage market, banks may provide better rates to new customers than they do to existing customers and may provide a cash-back incentive, for example, to new customers and not existing customers. Has Mr. Deering's office examined those issues through any individual complaints that have come in? Are those practices consistent with the 2017 Act...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: Does Mr. Deering have examples of cases where his office reached a decision in favour of a complainant and has observed that the practice in question is continuing to be applied in a general sense by financial service providers in the industry? If the office observes that such a practice is continuing, does it bring the matter to the attention of the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages and Differential Pricing in Insurance: Discussion (19 Nov 2019)

Michael McGrath: I thank Mr. Deering.

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: There is real value in having certainty around our corporation tax offering. As such, we must be careful in making changes that could undermine that offering and, as a consequence, our ability to continue to attract foreign direct investment. The system we have is statute-based, with the deductions that result in profits being reduced to a certain level before the tax rate is applied set...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: As amendments Nos. 19 to 21, inclusive, are being discussed together, may I speak to amendments Nos. 20 and 21, which are in my name?

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: I heard most of the Minister’s response. We discussed these issues on Committee Stage. These amendments relate to both the diesel rebate scheme and the call for a similar scheme for agricultural contractors. Regarding the diesel rebate scheme, I understand the objective of what was provided for in the budget and set out in the Finance Bill was to provide some additional relief to...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: 8 o’clock I move amendment No. 22: In page 103, between lines 34 and 35, to insert the following: “Report on betting duty relief 47. The Minister shall, within 3 months of the passing of this Act, prepare and lay before the Oireachtas a report on the betting duty relief and its impact on the bookmaking industry.”. The amendment relates to the changes to...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: A number of factors at play here. There are different moving parts. There is no doubt that the move to online betting is pretty incessant. The high street outlets are more labour intensive and more employment rich than online betting. The relief provided here by the Minister will be of benefit to small independent bookmakers who might have one or two shops. Because the relief is capped...

Finance Bill 2019: Report Stage (Resumed) (20 Nov 2019)

Michael McGrath: I move amendment No. 24: In page 106, line 16, after "where" to insert ", on or after 1 February 2020,". We had a good discussion on this issue on Committee Stage. It relates to the extension of VRT relief on certain hybrid vehicles in 2020. This has been restricted from the level of relief available hitherto. The Minister is not moving to the full worldwide harmonised light vehicle...