Results 8,841-8,860 of 36,192 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: There is another category numbering over 2,000. I refer to where there was a mix of solutions. Will the delegation clarify whether arrears capitalisation involved people who just had arrears capitalised or people who were offered services in addition to arrears capitalisation?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: I want to stick with the figure of 1,060. The only service or solution these debtors received from the bank was arrears capitalisation because they were not offered a split mortgage term extension or an interest write-down. This means that their personal circumstances had changed such that they could deal with the mortgage, plus the arrears they had built up.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: That is the question I asked a couple of minutes ago. The point I am making is that almost 50% of the cases involve people whose circumstances changed and for whom the bank did not really have to do anything for them whatsoever other than recapitalising the arrears.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: Yes, but the bank did not offer them any solution. It telephoned and gave them advice and all the rest.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: The bank did not do anything for these categories. In real terms, it did not offer them a solution, save for saying it would bundle all their arrears into the mortgage when it found out they were able to deal with their debt. The other 1,300 were able to deal with the matter themselves. The figure is very low in terms of the products or services the bank provided for individuals in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: The point I am making is that when one removes from the equation those whose fortunes naturally improved as a result of the recovering economy or another reason, one finds that the number of genuine solutions that have been provided is quite low.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: On the personal insolvency service, Mr. Boucher stated at a meeting of this committee on 10 April that the bank’s policy and practice were to have no debt write-down. Mr. Richie Boucher:For mortgage debt.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: Yes. When I questioned him, Mr. Boucher said the bank would torpedo any personal insolvency proposal that required a debt write-down on secured debt. Is that still the practice and policy of the bank? Alternatively, is somebody going behind Mr. Boucher’s back and writing down debt or agreeing to the personal insolvency proposals?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: I understand that and it is uniform across the banks. My question is whether it is still the position that Bank of Ireland will veto every personal insolvency proposal that requires it to take a debt write-down on secured debt.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: I understand that, but I am going to ask Mr. Boucher my question again. Will he confirm what he told the committee on 10 April?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: Let me put it a different way. Of the 45 proposals to which Bank of Ireland stated “Yes”, did any contain a write-down of mortgage debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: Therefore, they did not.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: Does Mr. Boucher believe officials in his bank are going behind his back to write down debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: As Mr. Boucher has only suggested 45 proposals, I ask him to inform the committee in writing on those proposals.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Banking Sector: Bank of Ireland (5 Nov 2014)

Pearse Doherty: I thank Mr. Boucher.

Written Answers — Department of Finance: Financial Vehicle Corporations (6 Nov 2014)

Pearse Doherty: 60. To ask the Minister for Finance if he will provide details of the securitisation special purpose vehicles that currently operate in the State. [42488/14]

Written Answers — Department of Finance: Budget 2015 (11 Nov 2014)

Pearse Doherty: 202. To ask the Minister for Finance the cost of the change announced in budget 2015 of the reduction in the 41% rate of income tax to 40% and the decrease in the threshold at which the higher rate of tax is paid. [43032/14]

Written Answers — Department of Finance: Budget 2015 (11 Nov 2014)

Pearse Doherty: 203. To ask the Minister for Finance the cost of the decrease in €1,000 in the threshold at which the higher rate of tax is paid if the income tax rates remained unchanged in budget 2015. [43033/14]

Written Answers — Department of Finance: Budget 2015 (11 Nov 2014)

Pearse Doherty: 204. To ask the Minister for Finance the cost of the decrease in the top rate of income tax in budget 2015 if the threshold remained the same. [43034/14]

Written Answers — Department of Finance: Budget 2015 (11 Nov 2014)

Pearse Doherty: 205. To ask the Minister for Finance the cost of or the revenue raised by each of the individual changes to the USC rate in budget 2105, that is the cost of each of the following measures, charging USC on income from €0 to €12,012 @ 1.5%, charging USC on income from €12,013 to €17,576 @ 3.5%, charging USC on income from €17,577 to €70,044 @ 7%,...