Results 21,141-21,160 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (6 Dec 2016)

Paddy Burke: I will be brief. I welcome the delegation. It has been stated that multinational groups will deal with a single tax administration within the EU, a principal tax authority that will be a one-stop-shop. However, the common consolidated corporate tax base, CCCTB, will have the ability to drive every parent company out of the EU. If the parent company is outside the EU, it can then go to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (6 Dec 2016)

Paddy Burke: There would be no advantage or incentive to a parent company relocating to any EU state.

Seanad: Public Bodies Review Agency Bill 2016: Second Stage (7 Dec 2016)

Paddy Burke: I welcome the Minister and I thank Senator Ó Céidigh for introducing this Bill. It has generated a good debate on the important issue of the governance of semi-State and State bodies and boards or, as the Minister stated, quangos. The Minister comprehensively outlined how the governance of these bodies will be pursued from now on and why there is no great need for the Bill. I...

Seanad: Public Bodies Review Agency Bill 2016: Second Stage (7 Dec 2016)

Paddy Burke: At 10.30 a.m. tomorrow.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: Is there any precedent under which the Central Bank intervened to lower interest rates?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: I am referring to Ireland.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: It only applies to credit unions and moneylenders. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: There is no reason, therefore, that it could not extend to mortgages as well. In some cases, I presume, credit unions mortgages have been granted for an extension to a house or have been used for house purposes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: Therefore, there is precedent. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: How far back can the Central Bank go to investigate situations such as arose with Permanent TSB, PTSB, Ulster Bank and Bank of Ireland customers? Are some cases statute barred?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: Where does the money from the fines imposed on the institutions go? Does it go to the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: Any fines imposed on the banks went straight to the Exchequer.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: In some cases the fines were more than the funding that was returned to the individuals.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The Central Bank seems to be slow to act on the way mortgage holders were treated by PTSB, Ulster Bank and so on. How did the Central Bank pick up the issue?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The borrowers had to go to the High Court and Supreme Court. The Central Bank was very slow to act.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: Were the fines imposed only after that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The Central Bank could not have imposed the fines before that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The Central Bank knew all along that the banks were out of order completely but it let people go to court. Could it not have stepped in and asked the banks not to put people through that hardship, indicating that it intended to issue fines?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The Central Bank failed in this case.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Paddy Burke: The courts did that.