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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: That is fair. The people are entitled to due process. There is a predication of due process.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I appreciate that. With regard to the sale of loans to ICG-Longbow, NAMA's former head of lending is now employed with the company. Can the delegation inform us whether ICG-Longbow approached NAMA or was it the other way around? Were the loans offered competitively?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I do not want to cast aspersions on NAMA staff or former staff members. There is a Garda investigation into an existing member of NAMA who gave out sensitive information. There is a practice of former members of NAMA at a very senior level moving on. I am talking about the head of lending who now works for a company that bought loans off NAMA in the past. Now we know that the company...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I am worried about the practice of people moving from NAMA to companies that have bought from NAMA. How do we ensure that information is not passed on before people take up employment in companies? I encourage NAMA to examine the matter in more detail. I shall deal with some smaller issues. NAMA has demolished one housing estate so far, the Gleann Riada housing estate. It was...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: Can Mr. McDonagh identify it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I wish to make two final points. At the last committee meeting we discussed developers and their wages. I know that the delegation dealt with the issue, in some form, earlier today. At the last meeting, Mr. Daly said that one or two developers received in excess of €200 in wages.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: Yes. I wish it were €200. They received an annual wage of €200,000. Can Mr. Daly inform the committee whether NAMA has successfully reduced the wages for those individuals? I know that he made a general statement but I would appreciate if he could inform the committee about those individuals.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I do not accept that. We are pressed for time and I shall move on to another substantial issue. NAMA informed the Minister and he informed me through his reply to my parliamentary question that NAMA has sold off €1.9 billion in loans so far to date. I pursued the same line of questioning on debt write-down or debt forgiveness for developers with the delegation at our last meeting....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: That is NAMA's position but it means NAMA is not pursuing certain developers, who owed the loans, for the full value of the loan. This means NAMA has cut its cloth and has decided it was not going to get back the full value and so it will sell off the loans. In my example of a loan of €100 million taken out from Anglo Irish Bank or wherever, purchased by NAMA for €40 million...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Pearse Doherty: I will try to finish up on this point. When NAMA was set up by the previous Government, there was a lot of outrage. I do not blame the officials of NAMA, who are charged with securing a return to the State. There was outrage that developers were going to walk away with a reduction in the debt they owed to banks such as AIB, Anglo Irish Bank and Bank of Ireland. It was categorically said...

Leaders' Questions (25 Oct 2012)

Pearse Doherty: The Labour Party Minister of State resigned over this.

Leaders' Questions (25 Oct 2012)

Pearse Doherty: Did the Tánaiste know about the meeting?

Leaders' Questions (25 Oct 2012)

Pearse Doherty: Does the Tánaiste know that it is illegal to lobby NAMA?

Written Answers — Department of Finance: Banking Sector Regulation (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the number of applications in each of the last eight quarters for banking licenses and if he will provide in detail what he intends to do to attract new banking entrants; and if he will make a statement on the matter. [47087/12]

Written Answers — Department of Finance: Pension Provisions (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the savings to the Exchequer from reducing the earnings cap for pension tax reliefs from €115,000 per annum to €75,000. [46948/12]

Written Answers — Department of Finance: Tax Reliefs (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the savings to the Exchequer from standardising all discretionary tax relief. [46949/12]

Written Answers — Department of Finance: Tax Reliefs (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the savings to the Exchequer from standardising pension tax reliefs. [46950/12]

Written Answers — Department of Finance: Pension Provisions (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance if he has information and if he will provide a breakdown of the number of persons who claimed tax free lump sums in 2011 in the following categories, under €50,000, €50,000-€75,000, €75,000-€100,000, €100,000-€150,000, €150,000 - €200,000, €200,000 plus. [46951/12]

Written Answers — Department of Finance: Fiscal Policy (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the macro economic stability and debt sustainability analyses if any that have been undertaken in which an assumption is that the promissory note is not repaid; and if he will make a statement on the matter. [47085/12]

Written Answers — Department of Finance: Fiscal Policy (25 Oct 2012)

Pearse Doherty: To ask the Minister for Finance the analyses being done in the view of the International Monetary Fund World Economic Outlook note on multipliers to establish the short term multiplier for Government spending here; and if he will make a statement on the matter. [47086/12]

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