Results 20,481-20,500 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Tax Appeals Commission (5 Dec 2019)

Michael McGrath: 88. To ask the Minister for Finance the number of appeals before the Tax Appeals Commission that have been concluded since January 2016 that have been settled; the value of the settled appeal; the number withdrawn; the value these amounted to; the number of cases heard; the value these appeals amounted to; and if he will make a statement on the matter. [51045/19]

Written Answers — Department of Finance: Revenue Commissioners Data (5 Dec 2019)

Michael McGrath: 89. To ask the Minister for Finance the number of penalties issued by the Revenue Commissioners in each of the years since 2012; the value of fines imposed in each case; the value of interest charged in each case; the amount of fines, penalties and interest paid; the number of cases each year that involved personal insolvency and corporate insolvency, for example, receiver, liquidator and so...

Written Answers — Department of Finance: Revenue Commissioners Data (5 Dec 2019)

Michael McGrath: 90. To ask the Minister for Finance the number of items confiscated by customs officials at ports and airports due to the fact VAT or excise had not been paid in the past five years and to date in 2019; the rules in relation to VAT and excise on goods ordered from abroad and being delivered here; and if he will make a statement on the matter. [51047/19]

Written Answers — Department of Public Expenditure and Reform: State Claims Agency Data (5 Dec 2019)

Michael McGrath: 103. To ask the Minister for Public Expenditure and Reform the amount paid by each delegated State authority into the State Claims Agency in each of the years 2010 to 2019; the methodology used to calculate the amount to be paid by the delegated authority; the amount received from scheme funds in the same period; and if he will make a statement on the matter. [51015/19]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: I welcome Governor Makhlouf and his colleagues, all of whom are regular visitors here. I am delighted have an opportunity to engage with them. I had a private meeting with Mr. Makhlouf recently and I thank him for that engagement. Will the Governor set out from his perspective what is the hierarchy of priorities for the Central Bank in terms of its functions?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Would it be fair to say the overarching objective and the number one priority is to protect the financial stability of the system?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Mr. Makhlouf has a broader perspective than most of us, given his international experience so in that context, is it appropriate that the consumer protection mandate would sit within the Central Bank or would it be more appropriate to have it within another external independent body? What is Mr. Makhlouf's view on that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Is the Central Bank not conflicted in its functions? It seems to me the Central Bank's number one priority is to uphold financial stability and that is for good reasons. Mr. Makhlouf added the rider that it is in the public interest and for the common good to do so but where there is a conflict between protecting the interests of consumers and upholding financial stability, financial...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: There are four people involved and the consumer protection person is not here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: She reports to Mr. Makhlouf but Mr. Makhlouf has a much wider mandate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: I was here for that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Mr. Makhlouf had a discussion with Senator Conway-Walsh on mortgages but I have repeatedly made the point at this committee and I have made the point directly to the Central Bank about the different treatment of existing customers versus new customers. Most banks have addressed that, although not all banks have. Some continue to charge existing customers higher interest rates. There is the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: I would like to hear the Governor address this issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Yes, it is, and there should be much more switching. Equally, the Central Bank tolerates certain banks charging their existing, loyal customers more than they charge a new customer. One might say that is common in business, as it is in the case of electricity and other utility services, but it is the largest transaction that most people will ever enter into. While one can blame the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: I accept that the issue of mortgage pricing and risk-weighted assets is technical and do not propose we go into it in detail. Is there ongoing engagement between the Central Bank and the SSM on the detail of the regulations and on whether they are proportional? The amount of capital that must be put aside for a mortgage issued today has been heavily influenced by what happened ten years...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: I turn to investment by banks in technology. There have been a number of outages or glitches in bank systems in recent months, and they have happened frequently in recent years. It causes severe disruption to the system and to individual consumers, and there can be reputational damage to the banks and the system. It can also have an economic impact, depending on how long it lasts. Do the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: They happen an awful lot, and my question is whether the banks do enough to deal with them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: The Central Bank regularly issues statements and warnings about unauthorised firms. What is the work out from them, that is, the end product and sanctions? Such firms can cause great harm to the consumer if they are not regulated or do not conduct their business properly. I have struggled to learn, either through the Courts Service or the Central Bank, the outcome of these warnings. Are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: What big stick has the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Michael McGrath: Are there convictions?