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Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: Chairman, I have a few other questions that I would like to ask.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: I have heard the way in which she has answered them.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: Chairman, I will need more time.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: The Bill proposes to change the order in which the creditors are paid. If the workers are put to the head of the queue, can Ms McElwee explain how that in any sense imposes extra financial responsibilities on the State? Where in the Bill does it state that?

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: It does. That is true.

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: I note the fact that Ms McElwee has not pointed to anything in the Bill which says that there is, of necessity, an increased charge on the State and that she accepts that the Bill changes the order of creditors. I presume she accepts that legislators have the right to change the order of creditors in that regard. If there was a circumstance, and I will conclude on this, where there was an...

Joint Oireachtas Committee on Jobs, Enterprise and Innovation: Pre-legislative Scrutiny of the Companies (Protection of Employees' Rights in Liquidations) Bill 2021: Discussion (6 Jul 2022)

Mick Barry: On a point of information, the point has been raised that there could be a question mark over the constitutionality of the Bill. The Ryanair case has been cited, as has the question of the position, as decided by the courts, on a right of disassociation. There seems to be an assumption that a collective agreement is a collective agreement negotiated by a trade union body. Many collective...

Ceisteanna - Questions: Departmental Reports (14 Sep 2022)

Mick Barry: The Taoiseach increased the minimum wage this year by less than 3%, which is in real terms a very serious pay cut for the country's lowest-paid workers. Now he intends to increase it for next year by less than 8%, which is another pay cut in real terms. His annual report talks of building a better society. How can he say that he is doing that when a worker in this country who is on...

Ceisteanna - Questions: Departmental Reports (14 Sep 2022)

Mick Barry: Last year's increase was higher than inflation?

Ceisteanna - Questions: Departmental Reports (14 Sep 2022)

Mick Barry: At 2.9%?

Ceisteanna - Questions: Departmental Reports (14 Sep 2022)

Mick Barry: The Grand Parade?

Measures to Assist with Household Bills: Motion [Private Members] (14 Sep 2022)

Mick Barry: We are debating measures that need to be introduced to assist people with household bills. The clearest and simplest step that can be taken is to increase welfare benefits and pay to rates that match inflation. However, this would go directly against the policy of the Government. The Government effectively wants to cut workers' pay, including the pay of the lowest paid workers. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: I have a question for whoever wishes to answer. I want to talk about the closures but before that I will talk about the main topic of conversation in this country today which is the costs of living and people's concern about what will happen with their mortgages in the context of interest rate increases. It would be fair to say that there is the potential, in terms of mortgage hikes, for...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: When Dr. Hunt says rate increases will be higher-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: -----is he talking about the ECB?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: The fact that it is being considered indicates that it is not automatic that AIB will respond in the same way to this increase as it did the previous increase. It is a significant measure to absorb. AIB is considering the possibility, at least as one of its options, of increasing the rates on the basis of this increase. That is not ruled out.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: If we are looking at the context of at least two and less than five, as I think Dr. Hunt said, ECB hikes in the next period, how many of those increases does he think AIB could absorb? When does he get to the point where he thinks the bank has to say, "Maybe we need to make increases here"?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: Could AIB absorb five?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: What that would mean in effect is that, if the ECB hikes rates and AIB does not pass them on, that would mean a cut in AIB's profits, all other things being equal. To get an idea of what might be absorbed, will Dr. Hunt remind us what the pre-tax and after-tax profits were for the bank in the last year for which those figures were recorded?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Issues: Discussion (14 Sep 2022)

Mick Barry: I have never met a banker before who did not know how much profit their bank made the previous year.

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