Results 5,621-5,640 of 26,404 for speaker:David Cullinane

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)

David Cullinane: Can the Chairman request the following from NAMA? Appendix E refers to communications between PIMCO and NAMA and there is a typed minute of a conference call on 10 March 2014. There were contemporaneous notes taken by the senior divisional manager on 11, 12 and 13 March, and there were copies of e-mail correspondences. Given that there are sharp differences between what the Comptroller and...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)

David Cullinane: I thank the Chairman.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)

David Cullinane: May I ask a brief question?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)

David Cullinane: When Cerberus came in with the bid of €1.3 billion, was it made aware that there was a shortfall of €73 million in terms of assets that were sold?

Ceisteanna - Questions (Resumed) - Priority Questions: Public Sector Pay (19 Oct 2016)

David Cullinane: 8. To ask the Minister for Public Expenditure and Reform the way it is possible to justify pay increases for Deputies in April 2017 and again in January 2018 in view of the fact there was a 10 cent increase in the minimum wage and very little of substance in the budget for low and middle income families; and if he will make a statement on the matter. [31163/16]

Ceisteanna - Questions (Resumed) - Priority Questions: Public Sector Pay (19 Oct 2016)

David Cullinane: How is it possible to justify pay increases for the Taoiseach, Ministers, Deputies and Senators at a time when public servants are engaging in industrial action due to genuine concerns about their pay? Strike action has been threatened by teachers and members of An Garda Síochána. Whoever came up with the proposed increase arrived at the appropriate date, April Fools' Day, to...

Ceisteanna - Questions (Resumed) - Priority Questions: Public Sector Pay (19 Oct 2016)

David Cullinane: The Minister referred to a fair wage for Members of the Oireachtas and said that the wage should reflect the responsibilities we have. We are very well paid, and I am sure the Minister accepts that. We receive two and a half times the average industrial wage. Currently, a public sector worker on an average salary of between €35,000 and €40,000 per annum will receive a...

Ceisteanna - Questions (Resumed) - Priority Questions: Public Sector Pay (19 Oct 2016)

David Cullinane: That is the greatest red herring I have encountered in a long time - talk about diversionary tactics. I take the average industrial wage. I employ somebody. I have taken somebody off the live register and I pay them €300 per week, which comes out of my salary. I do that voluntarily, not to get any credit. I do it because I provide an enhanced constituency service. I welcome...

Written Answers — Department of Finance: Mortgage Interest Relief Extension (25 Oct 2016)

David Cullinane: 185. To ask the Minister for Finance the criteria for eligibility for the mortgage interest relief scheme; if eligibility is to be changed in view of the decision to extend the scheme beyond 2017; and if he will make a statement on the matter. [32066/16]

Written Answers — Department of Public Expenditure and Reform: Lansdowne Road Agreement (25 Oct 2016)

David Cullinane: 371. To ask the Minister for Public Expenditure and Reform the details of the administrative device his Department has designed to ensure that Ministers, Ministers of State, and the Taoiseach do not receive their pay increase as per the Lansdowne Road agreement; and if he will make a statement on the matter. [31943/16]

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: I would just point out as well, Chairman-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: Mr. Moriarty has quoted evidence that we have not seen yet.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: Yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: I welcome the witnesses. Three of their board members got red cards from the Chairman for their opening statement last week. The CEO and the chairperson could equally have got red cards for their opening statements. Mr. Collison's statement was more measured. I do not know if that represents a change in NAMA's strategy but it is certainly welcome. There are two issues I want to deal...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: With respect, that is not what the Comptroller and Auditor General is saying. I am trying to establish the facts which are in the Comptroller and Auditor General's report and what he said before this committee, on the public record. It is my understanding that there is no contention by the Comptroller and Auditor General about a market rate being applied on a loan sale. Would Mr. Rooney...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: I am trying to establish whether Mr. Rooney understands what the Comptroller and Auditor General's concern was in his report in respect of the 5.5% discount rate. Can he explain his understanding of that to me? It seems to be flawed.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: He is basing it on an asset sale which is to work out the assets over a time period, which was the original strategy.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: I will get to that. He has not referred to, and does not dispute, the market rate being applied if it was a loan sale or a fire sale. That is not his contention. His contention is that if NAMA holds and works out the assets in the manner in which it was originally intended then the 5.5% discount rate would apply. Is that fair enough?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: I accept that. In the letter we got from NAMA this week, setting out the issues relating to the discount rate there is reference to the end of 2012 accounts-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

David Cullinane: No, it is the correspondence from a Martin Whelan, head of public affairs in NAMA.