Results 21,361-21,380 of 23,109 for speaker:Paddy Burke
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: There is more flexibility in the North than there is here. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: Ms O'Connor said that MABS has a very good relationship with the credit unions. Does it have a similarly good relationship with the banks?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: Is it easier to work with them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: Would the loans involved be smaller, generally?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: I detected from the presentation that MABS has a better relationship with credit unions and Ms O'Connor has clarified that this is because they are on the ground-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: -----but the banks are on the ground as well. However, it is quite obvious that the banks' decisions are not made on the ground. Would that be fair?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: I think it is extraordinary that credit unions are not paying out any dividends to their shareholders. As I understand it, no dividends are being paid.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: As I understand it, if somebody wants to initiate a savings plan amounting to €20,000 or €30,000 and wants to pay in €200 or €300 per week, some credit unions will not accept that business now.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: Will the witnesses tell me why credit unions would like to be able to lend into housing projects in particular? Why do they not want to lend into industry or some other area?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: Credit unions are not allowed to invest in anything. Is that what Mr. Johnson is saying?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: A credit union can only use 2.5% of its funds for community loans for things like GAA or soccer pitches and other community projects. Is that 2.5% of the funds on deposit in the credit union?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: If the rules were changed, it would allow credit unions to take deposits from people trying to get businesses off the ground and hoping to get loans. It would also allow the credit unions to pay dividends to shareholders and would produce other benefits.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (21 Mar 2017)
Paddy Burke: How much is it?
- Seanad: Reports on Motor Insurance Costs: Statements (22 Mar 2017)
Paddy Burke: I welcome the Minister of State, Deputy Eoghan Murphy, to the House. The Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach examined this issue and prepared a report. As a member of the Oireachtas committee that examined this issue, I learned of the many problems involved and it opened my eyes to the many issues that were raised at our committee meetings. Various...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: I welcome the officials from the Department of Finance. I would like to follow up on Deputy Sherlock's questions. Did alarm bells not start ringing in the Department when it emerged that some credit unions were not taking deposits from people? One cannot get a loan from a credit union unless one has savings in the credit union. Many credit unions are not taking the savings of young people...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Can Mr. Carville see the problem that exists?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Of course. Does Mr. Carville not think there is a problem here? Does he think there is anything the Department can do to alleviate the problem so that young people can start saving to borrow money?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: It is a problem if a credit union decides not to take savings from people because it cannot afford to do so on foot of the ratio. It may be a problem that has been created by the Central Bank, but it is a problem nonetheless. The Department of Finance is central to all of this as well.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: Okay. Mr. Carville will have heard that the credit union movement has quite a large amount of money - up to €10 billion - on deposit that it is willing to use for housing and other forms of infrastructure in this country. It has no home for that money. The only thing it can do with it at the moment is put it into the banks, where they are probably getting no return on it because of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of the Credit Union Sector: Discussion (23 Mar 2017)
Paddy Burke: That is being considered, but there are no proposals to do anything in this regard.