Results 4,081-4,100 of 27,945 for speaker:Michael McGrath

Ceisteanna - Questions - Priority Questions: Budget Targets (28 Feb 2013)

Michael McGrath: It is not about spending it. It is about giving people relief.

Ceisteanna - Questions - Priority Questions: Budget Targets (28 Feb 2013)

Michael McGrath: The Minister needs to start telling his Government colleagues that.

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he will review the plans for the implementation of the local property tax to take ability to pay into account in view of the problems in the economy including mortgage arrears, unemployment and weak disposable income. [10832/13]

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: I thank the Minister for his reply. We will have a fuller debate on this issue tomorrow when the legislation comes before the House, but today I want to focus on the issue of ability to pay. The Government's efforts to take ability to pay into account are woefully inadequate. For example, a family earning anything more than €480 per week gross - before tax and other deductions - is...

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: With respect, it will not meet my suggestion. Essentially, it provides that somebody entering an insolvency arrangement may be entitled to a deferral, even if that person's income is in excess of the limit. A gross amount of €480 per week for a family with children is a very small amount of money. Half of it alone is spent on groceries and the rest is quickly accounted for by the...

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: Fine Gael said it would not introduce it.

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: There was an allowance for income. That is not true.

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: The Minister is wrong on that. That is not true. We allowed for €120 million a year to provide appropriate exemptions for people.

Ceisteanna - Questions - Priority Questions: Local Property Tax (28 Feb 2013)

Michael McGrath: Yes. Go back and look at our proposal.

Other Questions: Banks Recapitalisation (28 Feb 2013)

Michael McGrath: In the round, this issue deals with approximately half of the money that went into the banks, approximately €30 billion between the two pillar banks and Permanent TSB. What is the Government's objective with regard to the negotiations that are under way? Obviously, the ESM does not have any track record in holding shares in banks. A key issue in this regard will be the basis for...

Other Questions: Banks Recapitalisation (28 Feb 2013)

Michael McGrath: The Minister has a job to do.

Other Questions: Banks Recapitalisation (28 Feb 2013)

Michael McGrath: He is very tetchy today.

Other Questions: Banks Recapitalisation (28 Feb 2013)

Michael McGrath: I seek clarification on one point. When the Minister spoke about the amount of money he would like to get back, he referred to the recapitalisation that took palce in March 2011 that followed the prudential capital assessment review. I assume all of the money put in, even before March 2011, is in the pot and on the table for negotiation through the ESM. Perhaps the Minister might clarify...

Other Questions: Banks Recapitalisation (28 Feb 2013)

Michael McGrath: Yes.

Other Questions: Mortgage Restructing (28 Feb 2013)

Michael McGrath: In my experience of helping constituents - I deal with many individual cases, trying to help people to get mortgages restructured - is that it is fairly straightforward to get interest-only arrangements, arrears capitalisation and term extensions. Perhaps 99% of the restructuring arrangements that have been made use those traditional methods. However, to achieve more innovative solutions,...

Other Questions: Mortgage Interest Rates (28 Feb 2013)

Michael McGrath: This question relates to tracker mortgages. There is a real issue here. Having a tracker rate is enormously valuable to a mortgage holder. They could be paying 1.5% or 1.75% interest as opposed to somebody on a variable rate paying 4% or 4.5%. This makes a massive difference to the monthly mortgage payment they have to make. They are trapped where they are because even people with...

Other Questions: Mortgage Interest Rates (28 Feb 2013)

Michael McGrath: Under the proposal I am suggesting, the banks would be no worse off because the mortgage holder would just keep the tracker on that portion of the mortgage. Obviously, the balance of the new mortgage would move to a variable rate. That is the key issue. There is no doubt that it would be healthy for the economy and generate movement and activity. It is something that should be looked at....

Written Answers — Department of Finance: Mortgage Interest Rates (28 Feb 2013)

Michael McGrath: To ask the Minister for Finance if, in view of the State support afforded to Allied Irish Bank to date, the spiralling mortgage arrears crisis and the link between high mortgage rates and the level of arrears, he will engage with AIB regarding its intention of increasing its standard variable rate for residential mortgage customers; and if he will make a statement on the matter. [10593/13]

Written Answers — Department of Finance: Government Bonds (28 Feb 2013)

Michael McGrath: To ask the Minister for Finance based on recent information made public by the ECB, the amount of interest that will be paid by Ireland to the ECB in 2013 on its holdings of Irish Government bonds purchased through its securities markets programme; and if he will make a statement on the matter. [10894/13]

Written Answers — Department of Finance: Credit Unions Regulation (28 Feb 2013)

Michael McGrath: To ask the Minister for Finance the number of credit unions currently subject to restrictions on their lending activities; and if he will make a statement on the matter. [10895/13]