Results 4,101-4,120 of 10,460 for speaker:Gerry Horkan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: It is effectively being brought forward as Government legislation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: I thank the Governor for that. A lot of points have been covered, so I will try not to be repetitive. I am not sure anybody referred to the limits in terms of house prices and mortgages and so on. There are mixed views on that. Some would argue that it is suppressing prices and keeping a lid on them. Others would say that it is not allowing people who want to be able to buy to get on the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: On a related point, many people are paying significant amounts of money in rent at the moment. If they were able to get on the housing ladder, they would be paying far less than they pay on rent. In the case of those who have paid rent for four, five or six years, could the Central Bank allow the banks to recognise in some way that these people have consistently been paying monthly rents of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: On the Governor's point on changing circumstances, downturns in the economy and so on, one of the chief executives who appeared before the committee - I think he was from KBC Bank - stated that we are closer to the next recession than we are to the previous one. I heard the Governor's points on the rate of growth decreasing or reaching a plateau. The Minister for Finance has been relatively...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: On the €665 million that has been paid out on the track mortgage issue, is there a breakdown of redress versus compensation? People have said it cost the banks a certain amount. Effectively, we are giving back to people the money that the banks - not the Central Bank - should never have had in the first place. This is the people's money.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: I would like to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: It would be useful in the final report to see the costs the banks incurred in having to employ all those people to sort out their own mess, plus the total cost of redress and of compensation. Ultimately, there will obviously be fines, enforcement, and so on. I assume the process is ongoing and that, therefore, the witnesses cannot comment in detail on the enforcement action. Nevertheless,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: I attended the Whitaker lecture last week on the future of money, payments and so on, which was interesting and thought-provoking. The witnesses' bank is the Central Bank of Ireland and it controls the mint in Sandyford. Am it correct that it will continue to produce coin but not notes, or vice versa?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: Coins will continue to be produced.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: On the future of money, we see statistics about banks being branchless and in the cloud, while there are new mobile phone applications and so on to allow people to pay for things. There are many changes. People use the tap feature on their cards much more often and are not using cash the way they were. How does Professor Lane, as the Governor of the Central Bank, expect the situation to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: There has been a 79% decrease - €67 billion - in the number of non-performing loans, NPLs, since the peak in 2013. While I do not want an analysis, was it due to vulture funds, write-offs or restructurings?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank of Ireland: Discussion (26 Mar 2019)

Gerry Horkan: The figures I quoted were taken from the opening statement. Most will argue that Professor Philip Lane has done a pretty good job. Where does he consider he has failed or not achieved what he wanted to do? What is the remaining greatest risk in the banking sector?

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I am not here to speak on behalf of any of my colleagues, including my party colleague who has spoken, but to put a number of matters on the record, including the fact that Fianna Fáil will support the legislation moving to the next Stage. My party supports the objectives of the Bill, of which I am especially conscious as Vice Chairman of the Joint Oireachtas Committee on Finance,...

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I will resume now and I apologise to those who may be watching proceedings. I decided to wait because there is no point in talking to myself. People blame each other for this problem. Insurance company profits, particularly in the motor insurance industry, were not particularly good for a number of years.If they were, we would have had many more entrants into the market. They have gone up...

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I know he does not mean to distract me, but he is doing so.

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I thank the Chair for pointing that out.

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I am easily distracted by Senator O'Reilly.

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I am talking about Senator O'Reilly. For the record, Senator Reilly never distracts me.

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I am not going to go on long. I am going to wrap it up shortly. I notice that Senators Noone and Colm Burke have not put their names to the Second Stage motion on this Bill. To the best of my knowledge, they are both members of the legal profession. I am intrigued to know why their names are not on the list. Maybe it is just a typo. It is interesting that 18 of the 20 Fine Gael Senators...

Seanad: Civil Liability (Capping of General Damages Bill) 2019: Second Stage (28 Mar 2019)

Gerry Horkan: I am with Senator O'Donnell.