Results 10,361-10,380 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: That was the understood position?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. And was any consideration given over the course of the evening to making contact with the ECB and making the point to them, "We're about to make a major decision about our banking system, the scale of which is potentially beyond the capacity of this State and we're putting it to you, finally, are you prepared to make any intervention to assist?" Was any consideration given to making...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Was clear. Okay. Can I just clear up one issue with you? Were you present when the banks, Bank of Ireland and AIB, were informed of the Government decision to go down the guarantee route because we've had conflicting evidence from Bank of Ireland and AIB? Bank of Ireland's evidence was that they certainly knew on the night and left Government Buildings on the clear understanding, having...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay, but is it possible that one bank was given one message in a bilateral with an official and another bank was not given the same message and so they're both correct in what they're saying? Is that possible?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. You say on page 11 of your witness statement, when you speak about parliamentary scrutiny, that, "As a general observation, it is understandably more likely that parliamentary time and political engagement will arise in respect of specific actions or measures rather than broader policies and options". Is that your experience of what happened in the time that you were Secretary General...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. So would you say that that represented a failing of Oireachtas scrutiny, that lack of attention maybe on the bigger issues, the bigger questions, as opposed to, you know, maybe local issues or specific Government decisions rather than policy direction. Was it a failing in your view, or not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. Can you recall the issue of subordinated debt being included in the guarantee ... that being discussed on the night?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: And who recommended that it should be included ... that dated subordinated debt should be included? Was it the banks, was it on the official side ... the Central Bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. Deputy Doherty questioned you about the issue of corporation tax during the bailout negotiations. Was it specifically put to Ireland, in the lead-up to those negotiations or during those negotiations by a member of the troika, that you should increase our corporation tax rate?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay. Just going back to the issue of the incorporeal Cabinet meeting, can you tell us how that works in the sense that once you get through to a majority of Cabinet members and they agree to the proposal from the Taoiseach and the Minister for Finance, is that it or do you contact everyone? Is everyone's view logged, recorded - how does that work?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: But decisions, if there is division, would be made on simple majority basis or ... if it came to it? I know it didn't on this occasion but ... did you ever see a vote at Cabinet?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Never?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Okay, the final one is just on page 3 of Vol. 2. Mr. McCarthy, you were present at this crisis meeting, liquidity crisis meeting, on 25 September as Secretary General to the Government. Do you recall that meeting? Do you recall the reference to what David Doyle said, for example, about potential loss exposures in Anglo and Irish Nationwide, €2 billion after capital in the case of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Yes. I suppose the context of that question is: was there any suggestion then, or right up to the point where the decision was made to guarantee the banks, that we may have to put capital in behind our decision, that the banks may need additional capital because of loan losses that are coming down the track? Was that ever suggested? Was it ever there in the background to the decision?

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (15 Jul 2015)

Michael McGrath: There's an answer now using all your experience.

Written Answers — Department of Social Protection: Social Insurance Data (16 Jul 2015)

Michael McGrath: 50. To ask the Tánaiste and Minister for Social Protection the total yield from employer pay related social insurance in each year from 2010 to 2014; and if she will make a statement on the matter. [29798/15]

Written Answers — Department of Social Protection: Social Insurance Yield (16 Jul 2015)

Michael McGrath: 51. To ask the Tánaiste and Minister for Social Protection the total yield from employee pay related social insurance in each year from 2010 to 2014; and if she will make a statement on the matter. [29799/15]

Written Answers — Department of Social Protection: Rent Supplement Scheme Data (16 Jul 2015)

Michael McGrath: 64. To ask the Tánaiste and Minister for Social Protection the approximate cost of increasing the maximum rent limits in the rent supplement scheme by 5% in the four Dublin local authority areas, Cork city and Galway city; and if she will make a statement on the matter. [29771/15]