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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: I welcome the Governor. I will start with questions on market-based finance, popularly referred to as shadow banking. I welcome the Central Bank turning its attention to it. Arguably this is late, but it is better than never. I understand that Mr. Makhlouf is just commencing his work on this and that his answers might be provisional - or he might prefer to not answer - but I will ask the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: Is Mr. Makhlouf aware of the case of the Russian MDM bank that has merged with B&N, another Russian bank? The new entity is also called B&N. Shortly after the merger it had to have a massive bailout because MDM had significantly overstated its financial situation and had used the IFSC to do so. Again, this is something that Professor Jim Stewart and Cillian Doyle have written...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: Does the Central Bank believe there is a danger or possibility that Ireland's shadow banking sector is used, effectively, for the laundering of dirty money? It happens in the shadow banking sector around the world. Would the witnesses say that illegal funds are being laundered through shadow banking in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: The financial crisis inquiry report concluded that one of the causes of the financial crisis was not just the deregulation that took place but the failure to adopt new regulations or challenge industry on the risk of innovations. We have new things developing and regulations not keeping up with them. Do the witnesses think there is a risk that shadow banking is one of those areas where...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: One of the things that is advocated as a way of minimising the capacity for exploitation of shadow banking is public registries of beneficial ownership so we get to see who benefits from whatever financial set-up exists. There is now a public registry of beneficial ownership in Ireland. It was set up some time this year. However, I understand that only 12% of companies have registered who...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank: Discussion (5 Dec 2019)

Paul Murphy: I agree that the idea of loosening the rules for mortgages would simply mean more price inflation, people going into debt and more money going into the construction companies and developers. This is not the answer. At the same time, there obviously is a huge problem in our housing sector. If the answer is not to get the banks to throw money at people again, as we did before with the...

Ceisteanna Eile - Other Questions: Domestic Violence Services Funding (10 Dec 2019)

Paul Murphy: 61. To ask the Minister for Children and Youth Affairs her plans to support a network (details supplied) that includes the vital local service provided by an organisation in view of the 16 days of action to promote domestic violence awareness, which has highlighted that 60% of abuse starts before 25 years of age and that Ireland has only one third of the recommended number of refuge spaces;...

Ceisteanna Eile - Other Questions: Domestic Violence Services Funding (10 Dec 2019)

Paul Murphy: Today is the last of 16 days of action to promote domestic violence awareness. I ask the Minister her and the Government's plans to support women's refuges and networks such as Women Together Tallaght Network in the context of some of the facts we have heard highlighted over these 16 days. One in two women murdered in Ireland is killed by her partner or ex-partner, but Ireland only has one...

Ceisteanna Eile - Other Questions: Domestic Violence Services Funding (10 Dec 2019)

Paul Murphy: I also pay tribute to the work of local women's groups in Tallaght, where not only paid employees but also volunteers make up in some cases for the inadequacies of State provision. I am sure it is the same throughout the country. I welcome the fact that a new refuge is being opened, and I accept that this is not purely the Minister's responsibility. However, the fact that Saoirse Women's...

Ceisteanna Eile - Other Questions: Domestic Violence Services Funding (10 Dec 2019)

Paul Murphy: I wish to raise the question of the interaction between domestic violence or intimate partner violence and the housing crisis. Safe Ireland has reported that housing instability is four times more likely to affect women who have experienced domestic violence and that one in four homeless women cites intimate partner violence as a major contributor to her homelessness. This was illustrated...

Rent Freeze (Fair Rent) Bill 2019: Second Stage [Private Members] (10 Dec 2019)

Paul Murphy: One in four of Deputies who will vote on this measure on Thursday is a landlord. Almost one in three members of Fianna Fáil and Fine Gael who will vote on Thursday is a landlord. When Deputy Micheál Martin was asked at the weekend about the double jobbing of one in three Deputies in this House, he stated, "Parliament has to represent the diversity of people." What the Deputy...

Written Answers — Department of An Taoiseach: Cabinet Committee Meetings (10 Dec 2019)

Paul Murphy: 16. To ask the Taoiseach when the Cabinet committee on infrastructure last met; and when it is scheduled to meet again. [50290/19]

Written Answers — Department of An Taoiseach: National Economic and Social Council (10 Dec 2019)

Paul Murphy: 23. To ask the Taoiseach if he will report on the work of his Department with the National Economic and Social Council. [50373/19]

Written Answers — Department of Foreign Affairs and Trade: Election Monitoring Missions (10 Dec 2019)

Paul Murphy: 106. To ask the Minister for Foreign Affairs and Trade the reason Ireland has scaled back by a third the number of observers it sent to the recent elections in Belarus compared to previous elections in 2015 and 2016; the names of the two observers sent; the basis on which they were selected; if his attention has been drawn to concerns that no open call issued to the official election roster...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: If it was known that this case was being taken and that it was probably heading towards settlement, why was provision not made for it earlier? Why do we have to deal with it in a Supplementary Estimate?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: Separately, in the documentation on the Supplementary Estimates for public services, money for this legal settlement is listed under the subhead "Consultancy Services and Other Services". This is where money for a legal settlement is allocated. It does not seem a transparent way of explaining what the money is for. It is certainly not for consultancy services, but for other services....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: Will the Minister explain why, under Vote 9, all of this extra money is being allocated for Brexit infrastructure? The Government's line is clear - there will be no border infrastructure or any border. The front page of today's The Irish Timesis the Tánaiste explaining to Boris Johnson that there will be checks between Britain and the North but relatively few checks in Ireland. If so,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: What is being built? Is it space for custom checks?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: Is the approximately €4.1 million a final total or will there be extra money?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2019
Vote 6 - Office of the Chief State Solicitor (Supplementary)
Vote 7 - Office of the Minister for Finance (Supplementary)
Vote 9 - Office of the Revenue Commissioners (Supplementary)
Vote 12 - Superannuation and Retired Allowances (Supplementary)
Vote 17 - Public Appointments Service (Supplementary)
(10 Dec 2019)

Paul Murphy: Let us say we head towards a no-deal scenario again. Does the Minister envisage more needing to be invested next year in the building of this infrastructure?

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