Results 14,361-14,380 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Central Bank of Ireland Supervision (30 Mar 2017)

Michael McGrath: 147. To ask the Minister for Finance if the Central Bank has set up an advisory group to advise on the performance of its functions and the exercise of its powers in respect of credit unions as provided for under the Central Bank Reform Act 2010; if that group is the same as the credit union advisory committee; the number of times this advisory group has met since the powers to regulate...

Written Answers — Department of Finance: Credit Union Regulation (30 Mar 2017)

Michael McGrath: 149. To ask the Minister for Finance if there is a mechanism in place whereby he can update or change the 2016 Regulations with regard to credit unions; if legislation is required if such changes were to be made; and if he will make a statement on the matter. [15976/17]

Written Answers — Department of Finance: Credit Union Services (30 Mar 2017)

Michael McGrath: 150. To ask the Minister for Finance if the consumer advisory group attached to the consumer protection division of the Central Bank has expressed any concerns regarding the negative impact that the gradual diminution of products and services allowable by credit unions under current regulations might be having on consumers; and if he will make a statement on the matter. [15977/17]

Priority Questions: Insurance Costs (4 Apr 2017)

Michael McGrath: 35. To ask the Minister for Finance the status of the second phase of the cost of insurance working group, with particular regard to the increasing cost of insurance for businesses; and if he will make a statement on the matter. [16512/17]

Priority Questions: Insurance Costs (4 Apr 2017)

Michael McGrath: There has rightly been a significant focus on motor insurance in recent times, but there has been less of a focus on business insurance, which is the subject of this question. I am asking about employer liability insurance and public liability insurance, in particular, because businesses across the country are facing an insurance crisis. The cost of some premiums has increased by 30%, 40%...

Priority Questions: Insurance Costs (4 Apr 2017)

Michael McGrath: I thank the Minister of State. As I said in my introductory remarks, the cost of business insurance is causing a real crisis around the country. I have a list of examples. A hotel in rural Ireland has seen its insurance costs increase from €22,000 to €40,000. A small pub that serves food has been quoted €45,000 for insurance. An issue seems to have arisen with...

Priority Questions: Insurance Costs (4 Apr 2017)

Michael McGrath: The Minister of State is correct in identifying the hospitality sector and businesses in the services sector generally, such as pubs, hotels, nightclubs and anywhere there is public footfall, as being where the issue is most acute, given the uncertainty and inconsistency around the level of awards. The matter has to be dealt with. The quality of cover is diminishing and the issue of...

Priority Questions: Ireland Strategic Investment Fund Investments (4 Apr 2017)

Michael McGrath: 37. To ask the Minister for Finance if he is satisfied with the level and quality of investments made to date by the Ireland Strategic Investment Fund; his views on whether the fund could play a greater role in providing investment in necessary capital infrastructure here; and if he will make a statement on the matter. [16513/17]

Priority Questions: Ireland Strategic Investment Fund Investments (4 Apr 2017)

Michael McGrath: This question relates to the Ireland Strategic Investment Fund, established in December 2014. I wish to establish the views of the Minister on the effectiveness of the fund thus far. We have had about two and a half years of experience with it and it has made a range of investments. It could do a lot more at a time when we are crying out for investment in the economy, in particular capital...

Priority Questions: Ireland Strategic Investment Fund Investments (4 Apr 2017)

Michael McGrath: At the end of 2016, the fund's global portfolio was €6.65 billion. As such, that was money not invested in Ireland. While I know the intention is to wind that down over time and to invest the funds in line with ISIF's mandate, it is nevertheless a very substantial figure. When I look at the investments to date, some of them are very good. Some of them are quite niche in nature,...

Priority Questions: Ireland Strategic Investment Fund Investments (4 Apr 2017)

Michael McGrath: There is no question that ISIF must be prudent, but I highlight again the fact that it has €6.6 billion invested overseas. Gradually, that will be wound down and invested in Ireland. While it is an important feature of the fund that it leverages private sector investment, the key challenges we face as a country are in housing, broadband, the road network and public transport where...

Other Questions: Credit Unions (4 Apr 2017)

Michael McGrath: 41. To ask the Minister for Finance the status of the work of the implementation group concerning the recommendations of the Credit Union Advisory Committee report; and if he will make a statement on the matter. [16414/17]

Other Questions: Credit Unions (4 Apr 2017)

Michael McGrath: I thank the Minister for his reply. The Oireachtas Committee on Finance held some hearings recently into credit union issues and will be compiling a report. I hope that the report can be agreed by all members of the committee. It will make a series of recommendations to the Minister and to the House. There is a high degree of frustration within the credit union sector. Some credit...

Other Questions: Credit Unions (4 Apr 2017)

Michael McGrath: The credit unions themselves are also committed to protecting members' savings and they do so. They take umbrage at continuous references to that priority by the registrar as though it was the sole preserve of the registrar. The key issue is business model development and the CUAC report recommended that credit unions prioritise business model development and consider investing...

Topical Issue Debate: Bus Éireann (4 Apr 2017)

Michael McGrath: The Minister is characterising this dispute as being just like any other industrial dispute, that it is all about the terms and conditions of workers, and asking why the two sides do not just get together, talk it out and negotiate a settlement. As he knows, this dispute is far more complex than that. The message that he is sending to the workers is that they will have to carry the entire...

Topical Issue Debate: Bus Éireann (4 Apr 2017)

Michael McGrath: The Minister has spoken about inefficiencies. The unions have publicly recognised their own responsibilities in that regard. Unions enter negotiations and compromise. That is what they do. Although the Minister is right when he says inefficient work practices have to be resolved by negotiation, he is not fulfilling his own responsibilities. He mentioned that the examination of the free...

Written Answers — Department of Finance: Central Bank of Ireland Supervision (4 Apr 2017)

Michael McGrath: 50. To ask the Minister for Finance if he is satisfied with the Central Bank's response to the placing of 2,141 SME customers into a global restructuring group by a bank (details supplied); his views on whether a formal review is required by the Central Bank to assess whether any SME customers here were inappropriately treated; and if he will make a statement on the matter. [16412/17]

Written Answers — Department of Finance: Construction Sector Strategy (4 Apr 2017)

Michael McGrath: 75. To ask the Minister for Finance the amount of lending carried out by a company (details supplied) to the construction sector to date; his views as to whether the State can do more to ensure the construction sector has access to finance to build the required homes and office accommodation around the country; and if he will make a statement on the matter. [16413/17]

Written Answers — Department of Finance: Credit Unions (4 Apr 2017)

Michael McGrath: 78. To ask the Minister for Finance his views on the possibility of the credit union movement providing funds for investment in social and affordable housing; the engagement that has taken place to date between the sector and his Department; and if he will make a statement on the matter. [16416/17]

Written Answers — Department of Finance: Motor Insurance (4 Apr 2017)

Michael McGrath: 89. To ask the Minister for Finance the status of the implementation of the motor insurance compensation framework announced by his Department in July 2016. [16415/17]