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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: I welcome Professor McHale and his colleagues. I thank him for his opening statement. We have already looked at the report. To continue on from where the Acting Chairman left off on the €2 billion adjustment – Professor McHale made his views on it very clear – does he think that if the Government goes with its stated intent of making an adjustment of less than...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: What are the consequences of missing the deficit target, which is actually a limit? It is referred to as a target but it is a limit in that it has to be less than 3%; it is not a target. What are the consequences, directly and indirectly?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: On the issue of the budget, as Professor McHale is aware, the Government has signalled that there will be some reductions in income tax, focusing on the income threshold at which a person enters into the marginal rate. What are Professor McHale's views on whether it is an appropriate policy at this time to reduce income tax and, if we do reduce it, what is the best way to configure it by...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: Professor McHale has made some comments on the issue of whether it is wise to reduce the income earning capacity of the State at this time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: I want to probe Professor McHale further on the medium-term objective of a balanced budget in structural terms by 2018. Yesterday, the Minister for Finance stated that the Department's assessment is that if the growth projections are achieved, beyond the budget for 2015 there will be no need for any further fiscal consolidation to achieve a balanced structural budget by 2018. We can...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Fiscal Assessment Report 2014: Irish Fiscal Advisory Council (19 Jun 2014)

Michael McGrath: If I interpret him correctly, Professor McHale is saying there will not necessarily be a need for new budget day measures in terms of fiscal consolidation, but if we are standing still in terms of spending levels and on the tax side - credits and so forth - in real terms vis-à-visthe nominal GDP and inflation, that is a real cut in terms of standard of living, which is what it will...

Order of Business (24 Jun 2014)

Michael McGrath: I want to raise two issues. One concerns secondary legislation and the other, primary legislation. On the former, section 20(6) of the Finance (Local Property Tax) Act 2012 states the Minister for the Environment, Community and Local Government can issue regulations pertaining to the local adjustment factor, the power of local authorities to vary the local property tax upwards or downwards...

Written Answers — Department of Finance: Departmental Agencies Staff Recruitment (24 Jun 2014)

Michael McGrath: 130. To ask the Minister for Finance further to Parliamentary Question No. 72 of 12 June 2014, if he will provide full details of all staff vacancies currently in the National Treasury Management Agency, including the National Asset Management Agency; the title of the position vacant; the length of time it has been vacant; the functional area to which it belongs; the indicative remuneration...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (24 Jun 2014)

Michael McGrath: 132. To ask the Minister for Finance if he will address the concerns of an Irish Bank Resolution Corporation mortgage holder raised in correspondence (details supplied); and if he will make a statement on the matter. [26608/14]

Written Answers — Department of Finance: Defined Benefit Pension Schemes (24 Jun 2014)

Michael McGrath: 142. To ask the Minister for Finance the current status of the AIB defined benefit pension scheme; his plans to deal with the deficit in the scheme; and if he will make a statement on the matter. [26843/14]

Written Answers — Department of Finance: Defined Benefit Pension Schemes (24 Jun 2014)

Michael McGrath: 143. To ask the Minister for Finance the current status of Permanent TSB’s defined benefit pension scheme; his plans to deal with the deficit in the scheme; and if he will make a statement on the matter. [26844/14]

Written Answers — Department of Finance: Pension Provisions (24 Jun 2014)

Michael McGrath: 144. To ask the Minister for Finance further to Parliamentary Question No.13 of 26 February 2013, the status of communication between AIB and retired former executives in respect of pension entitlements; if any former director is currently foregoing pension entitlements; and if he will make a statement on the matter. [26845/14]

Written Answers — Department of Finance: Fiscal Policy (24 Jun 2014)

Michael McGrath: 145. To ask the Minister for Finance the reason he has decided to achieve the medium-term budgetary objective of a balanced budget in structural terms by 2018, which is sooner than the requirements under the European fiscal rules; and if he will make a statement on the matter. [26846/14]

Written Answers — Department of Finance: Central Bank of Ireland Investigations (24 Jun 2014)

Michael McGrath: 148. To ask the Minister for Finance if an investigation is being undertaken by the Central Bank of Ireland into a matter (details supplied); and if he will make a statement on the matter. [26954/14]

Written Answers — Department of Finance: Bonds Redemption (24 Jun 2014)

Michael McGrath: 152. To ask the Minister for Finance the amount of outstanding bonds that are due to be redeemed by Permanent TSB in 2014 and 2015; and if he will make a statement on the matter. [27129/14]

Written Answers — Department of Finance: Banking Sector (24 Jun 2014)

Michael McGrath: 153. To ask the Minister for Finance if consideration has been given to merging Permanent TSB with another entity in the Irish banking sector; when he expects the future business model for Permanent TSB to be known; and if he will make a statement on the matter. [27130/14]

Written Answers — Department of Education and Skills: Community Training Centres (24 Jun 2014)

Michael McGrath: 185. To ask the Minister for Education and Skills if he will address a matter raised in correspondence (details supplied) regarding a training centre in Cork city; and if he will make a statement on the matter. [27317/14]

Written Answers — Department of Social Protection: One-Parent Family Payment Eligibility (24 Jun 2014)

Michael McGrath: 269. To ask the Minister for Social Protection her plans to review the ongoing age reduction changes pertaining to the one parent family payment in view of the severe hardship it is imposing on those affected; and if she will make a statement on the matter. [26663/14]

Written Answers — Department of Environment, Community and Local Government: Community Development Projects (24 Jun 2014)

Michael McGrath: 346. To ask the Minister for Environment, Community and Local Government if he will address a matter raised in correspondence (details supplied) regarding the Irish Association of Supported Employment; and if he will make a statement on the matter. [27308/14]

Written Answers — Department of Environment, Community and Local Government: Dormant Accounts Fund Administration (24 Jun 2014)

Michael McGrath: 348. To ask the Minister for Environment, Community and Local Government further to Parliamentary Question No. 143 of 12 June 2014, the steps that are being taken to contact the beneficial owner of the account in question prior to the funds in it being transferred to the dormant accounts fund; and if he will make a statement on the matter. [26590/14]

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