Results 11,561-11,580 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Education and Skills: Student Grant Scheme Eligibility (24 Sep 2015)

Michael McGrath: 183. To ask the Minister for Education and Skills the position regarding the assessment of household income for a student grant application; the extent to which any once-off income, such as a compensation payment or an inheritance, may be discounted; and if she will make a statement on the matter. [32559/15]

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: 118. To ask the Minister for Finance his views that reductions in fixed mortgage rates offered by the banks represent an inadequate response to the widespread public concern over high variable rates; that it is important that all domestic banks reduce their core variable rate product offering; his plans to address high mortgage rates by the non-deposit taking retail credit, sub-prime, sector;...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: The Minister for Finance is very familiar with the topic of high variable interest rates being charged on up to 300,000 mortgage customers. The purpose of this question is to put it back on the political agenda. Some progress, albeit modest, has been made on this issue which has been firmly put on the political agenda. I believe the Minister is in the middle of a second round of, or has...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: I thank the Minister for his reply. Several banks have introduced new options, which are always a good thing, but these options are very selective. They are of most benefit to new customers in particular. Many existing customers continue to be discriminated against and the options simply are not for everyone. The following are the actual standard variable rates still being charged by...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: Reading between the lines, it sounds as if the Minister has made up his mind that the banks have gone far enough to satisfy him. I believe he is letting the banks off the hook, because they have not gone far enough. Yes, there have been improvements in the product offering, the fixed rates have come down and the managed variable rates are an innovation, but for many customers who are in...

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: For some customers.

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: It is very difficult to switch.

Ceisteanna - Questions - Priority Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: It is not easy to do.

Ceisteanna - Questions - Priority Questions: Budget 2016 (29 Sep 2015)

Michael McGrath: 121. To ask the Minister for Finance his views on the constraints on budget 2016 tax decisions arising from European Union and domestic rules; the impact of the carrying forward of previous taxation measures on the scope for tax changes in 2016; and if he will make a statement on the matter. [33183/15]

Ceisteanna - Questions - Priority Questions: Budget 2016 (29 Sep 2015)

Michael McGrath: Budget day is just two weeks away, as the Minister well knows. The fiscal space of €1.2 billion to €1.5 billion was announced by the Government back in April. The purpose of my question is to bring that announcement up to date and focus, in particular, on the taxation side. The Minister has said it is his intention to split the expenditure and tax sides broadly evenly, so...

Ceisteanna - Questions - Priority Questions: Budget 2016 (29 Sep 2015)

Michael McGrath: I thank the Minister for his reply. Can he clarify that, in terms of taxation, he has a potential envelope of up to €750 million? Is that the quantum of net new measures on the taxation side? Obviously it is open to the Minister to increase taxation in certain areas and he has made some comments in that direction. Therefore, is he talking about net new tax measures of up to...

Ceisteanna - Questions - Priority Questions: Budget 2016 (29 Sep 2015)

Michael McGrath: I have a supplementary question on that. Given that the economic data are changing constantly and, thankfully, are moving in a positive direction in terms of employment and Exchequer figures - I presume that in the next two or three days the Minister will receive the Exchequer figures for September - is there scope to go beyond that overall envelope if the updated information is more...

Other Questions: Insurance Compensation Fund (29 Sep 2015)

Michael McGrath: 125. To ask the Minister for Finance the current position regarding the payment of claims due by Setanta Insurance following the recent court ruling regarding the role of the Motor Insurance Bureau of Ireland; the level of payments that are expected to be made; the approximate timeframe for this matter to be dealt with; and if he will make a statement on the matter. [32866/15]

Other Questions: Insurance Compensation Fund (29 Sep 2015)

Michael McGrath: My question is on the same subject. This has been a shambles from the beginning because when Setanta Insurance was liquidated in April last year, we were told initially on the record of the House that the MIBI would be responsible. Subsequently, the bureau received legal advice to the contrary and the issue ended up before the courts because another arm of the State took the MIBI to court....

Other Questions: Insurance Compensation Fund (29 Sep 2015)

Michael McGrath: The main point I would put to the Minister is that he should appoint somebody to examine this whole saga with a view to bringing in changes if this happens in the future. In view of the way insurance companies can passport in their services, they can be regulated primarily in another European country and regulated here for conduct of business purposes only. We are at the mercy of the...

Other Questions: Insurance Compensation Fund (29 Sep 2015)

Michael McGrath: The final point I would make is directed towards consumers and policyholders, namely, that they should listen very carefully to the tag-lines we hear on radio advertisements, for example, that an insurer is regulated by the Central Bank for conduct of business purposes. That does not mean that the Central Bank is the principal regulator of that insurance company; that insurance company could...

Other Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: 126. To ask the Minister for Finance the action he is taking to deal with overcharging of tracker mortgage customers; his views that it is a widespread problem in the banking industry; and if he will make a statement on the matter. [32864/15]

Other Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: I raised the issue last week about the overcharging of certain tracker mortgage customers by way of a Topical Issue debate with the Minister’s colleague, the Minister of State, Deputy Deenihan. As the Minister knows, a scandal has emerged with Permanent TSB and 1,400 of its customers wrongly denied a tracker rate, having come off a fixed-rate mortgage, for example, or not properly...

Other Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: As the Minister knows in the case of Permanent TSB, it lost a High Court case on this matter and had findings made against it by the Financial Services Ombudsman. However, it still took it to the steps of the Supreme Court before, under duress from the Central Bank because of an enforcement investigation, it bowed to the inevitable, put its hands up and acknowledged up to 1,400 customers had...

Other Questions: Mortgage Interest Rates (29 Sep 2015)

Michael McGrath: Before the end of this Dáil, will the Minister address the issue of the six-year limitation rule for access to the Financial Service Ombudsman, not just for customers denied a tracker rate but those affected by the mis-selling of payment protection policies, for example? They are being denied justice and recourse in respect of financial products which were defective or unsuitable for...