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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)

Ciarán Lynch: It is propping up another area. For example, the insolvency service is keen that people have access to what Deputy Heather Humphreys referred to as emergency credit for a funeral, a car or whatever. That is fine if one is in the big game and one is in the insolvency service, but if one is broke and living on subsistence or from pay cheque to pay cheque, one is in difficulty all the time....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Report on Licensed Moneylending Industry: Central Bank of Ireland (29 Jan 2014)

Ciarán Lynch: The fact is that there is a cap in place. It is 287%. That is the existing cap. People are suggesting there should be a cap put in place but at present the cap is 287%. The question is whether that is acceptable. I thank Mr. Sheridan, Mr. Murphy and Mr. Kincaid for appearing before the committee and for the briefing and the discussion. Certainly, it was very informative and, I imagine,...

Written Answers — Department of Social Protection: Social Welfare Appeals Data (30 Jan 2014)

Ciarán Lynch: 81. To ask the Minister for Social Protection the number of appeals currently lodged with the scope section; the average time taken to decide an appeal; and if she will make a statement on the matter. [4559/14]

Written Answers — Department of Social Protection: Social Welfare Appeals Status (30 Jan 2014)

Ciarán Lynch: 82. To ask the Minister for Social Protection when a determination will be made on an appeal in respect of a person (details supplied) in County Cork to her Department's scope section; and if she will make a statement on the matter. [4563/14]

Topical Issue Debate: Flood Relief Schemes Funding (4 Feb 2014)

Ciarán Lynch: I thank the Minister of State for coming to the House to take this issue. I ask him the status of the memorandum of understanding between the OPW and the insurance industry on ensuring that insurance is offered to households and businesses where flood remediation work has been carried out. This evening, people in Cork are bracing themselves for a flood that is expected to arrive at 8.30...

Topical Issue Debate: Flood Relief Schemes Funding (4 Feb 2014)

Ciarán Lynch: We are talking about a process of accreditation that exists in other jurisdictions, with which insurance companies operating in Ireland, such as Zurich, and others in Germany comply. It would mean that when the Office of Public Works or local authorities carry out accredited engineering, remedial or flood-prevention works in those areas, the insurance company would be compelled to buy into...

Written Answers — Department of Health: Ambulance Service Provision (5 Feb 2014)

Ciarán Lynch: 187. To ask the Minister for Health if he is satisfied with the emergency medical service provided to residents of East Cork; his views on the circumstances of a recent incident (details supplied); and if he will make a statement on the matter. [5848/14]

Written Answers — Department of Finance: Tax Reliefs Availability (12 Feb 2014)

Ciarán Lynch: 61. To ask the Minister for Finance if he has considered offering tax relief incentives to encourage householders and business owners to undertake flood prevention works to protect their premises from future weather events; and if he will make a statement on the matter. [7168/14]

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: Apologies have been received from Deputies Heather Humphreys and Arthur Spring. The purpose of the meeting is to consider the motion referred by the Dáil regarding the draft Capital Carryover Order for 2014 re Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014, copies of which were laid in draft form before Dáil Éireann on 27 January 2014. The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: I thank the Minister of State and call Deputy Fleming to commence.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: It is set up on the basis that there are approved housing bodies, be they local authorities, an agency such as Clúid or Respond or another agency that meets the criteria or code of conduct. What would happen is that a capital acquisition would come to the approved housing body and take ownership of the property and the resident would move to become a tenant.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: A capital acquisition is taking place.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: I will make a request in the context of today's meeting for the Deputy.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: I return to the mortgage-to-rent scheme. Is there a target number of properties that would be secured under the €7 million spend?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: Yes. If the purchase property averaged €170,000 per unit - some would be less - we are talking about 41 units.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: This is the mortgage-to-rent scheme, which should be separate from the rental accommodation scheme.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: The reason I ask is that representatives from the banks will be appearing before us in April to discuss the target figures that have been put in place for them. I refer to the examination of the various options under the Keane report, one of which is the mortgage-to-rent scheme. Is there a target figure for the money? Could the Minister of State explain the methodology? Is it the case...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: I am interested in understanding the modelling element.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: If we are working with an option of €70,000 per unit, which is quite high because many of the properties would be distressed, we are talking about approximately 41 units in total.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Public Expenditure and Reform: Finance Act 2004 (Section 91) (Deferred Surrender to the Central Fund) Order 2014: Motion (12 Feb 2014)

Ciarán Lynch: As we have now completed our consideration-----

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