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Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Difficulties in Obtaining Home Insurance: Discussion with Irish Insurance Federation (25 Sep 2012)

Ciarán Lynch: I thank the Irish Insurance Federation for the speed of its response to the request to appear before the committee. As with most industries, the insurance industry is in a competitive and challenging environment. However, there are seven points of consideration the federation should take into account at the conclusion of today's meeting. The first is the need for a code of good...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Difficulties in Obtaining Home Insurance: Discussion with Irish Insurance Federation (25 Sep 2012)

Ciarán Lynch: Perhaps Mr. Horan can do so by written response in the first instance.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Difficulties in Obtaining Home Insurance: Discussion with Irish Insurance Federation (25 Sep 2012)

Ciarán Lynch: That concludes our consideration of the topic. I thank Mr. Kemp and Mr. Horan for their assistance in our deliberations.

Written Answers — Department of Education and Skills: Pension Provisions (26 Sep 2012)

Ciarán Lynch: To ask the Minister for Education and Skills when pension payments will be made to a person (details supplied) in County Cork; and if he will make a statement on the matter. [41020/12]

Written Answers — Department of Health: Medical Card Drugs (27 Sep 2012)

Ciarán Lynch: To ask the Minister for Health the prescription medicines that are no longer covered by the medical card following a recent decision; if treatment for certain conditions (details supplied) are now excluded; and if he will make a statement on the matter. [41153/12]

Written Answers — Department of Education and Skills: English Language Training Organisations (2 Oct 2012)

Ciarán Lynch: To ask the Minister for Education and Skills the number of establishments here that are providing English language classes for Chinese students; the number of Chinese students that have come here to study English since 2007; the strategies that are in place or under consideration to increase the number of such students; and if he will make a statement on the matter. [41820/12]

Written Answers — Department of Children and Youth Affairs: Child Care Services (2 Oct 2012)

Ciarán Lynch: To ask the Minister for Children and Youth Affairs the childcare support available to a person (details supplied) in County Cork; and if she will make a statement on the matter. [41753/12]

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: We are now in public session and will discuss the functions and responsibilities of the Housing Finance Agency plc, HFA. I welcome here today Dr. Michelle Norris, chairperson, Mr. Philip Nugent, director, Mr. Barry O'Leary, chief executive officer, and Mr. Tom Conroy, company secretary of the Housing Finance Agency, and thank them for their attendance this afternoon. In commencing...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: I thank Dr. Norris for her presentation. It is a matter of months since she last attended a meeting of the committee, prior to her appointment. She seems to have got her feet well under the table since then. I will now take questions from members, beginning with Deputy Catherine Murphy.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: Deputy Catherine Murphy may pursue further questions now, as she is due in the House for Priority Questions.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: I would like to ask Mr. O'Leary to clarify his comment that the agency has the capacity to borrow or raise €10 billion. Is that in addition to what the agency already has on its loan books, or is that the ceiling up to which it can borrow?

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: How far off that ceiling is the agency at the moment?

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: The agency could still borrow approximately €5.6 billion.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: I will ask an obvious question. Why are we not engaging in rent-to-buy programmes involving vacant housing in suitable areas across the country where NAMA has properties? I wonder why that issue has not been examined. Perhaps Mr. O'Leary can clear something else up for me. What is the current position with the incremental purchase scheme? Is the agency providing funding to local...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: No local authority in this country is applying the incremental purchase scheme.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: I think that is a good idea. If the agency were able to make recommendations to Government Departments, I would suggest that it should recommend the scrapping of the programme, which was dreamt up at a time when the average house value at the entry price was approximately €250,000. Given that those properties now cost somewhere between €80,000 and €120,000, the...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: I apologise. I meant Deputy Catherine Murphy. Deputy Ellis and I are on the same psychic level, so I know what he is going to say in a moment. Deputies Murphy and Stanley referred to the Housing Finance Agency as the vehicle that provides funding to local authorities that want to borrow money. Those borrowings end up in three specific categories. The traditional tenant purchase loan,...

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: Does the agency ask them for the criteria for the insurance that would be applied to that?

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: There is no requirement to have mortgage income protection or mortgage indemnity insurance - just death and disability insurance.

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Discussion with Housing Finance Agency (2 Oct 2012)

Ciarán Lynch: Okay.

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