Results 15,341-15,360 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Except that the bank pays up to €1,500 in legal fees.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: There are a range of different rates in Northern Ireland and the lowest is a mouthwatering one of 1.48%, where the loan-to-value is less than 6% in which case the rate is offered, on a fixed-rate basis, for two years. What happens at the end of the two-year period? What rate does the customer revert to?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Is the offer only available for two years or can they roll it forward for a further period?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: I am not an expert on the Northern Irish market but my understanding is that, following on from these very attractive initial fixed-rate offers there is a lot of competition and the people on 1.5% do not go up to 3% or 4% after two years but get another offer, either from the bank or another lender. Is that the practice?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: It raises the obvious question of why there is such a differential. A customer in the North can get a two-year fixed rate for as little as 1.48% if they have low loan to value but in the Republic it is a three-year rate of between 2.9% to 3.25%.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: The bank has a two-year rate in the North at 1.48% but the nearest here is a three-year rate at between 2.9% and 3.25%. It is an incredible difference, basically half.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: So it is a regulatory issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Could Ulster Bank in the Six Counties sell a mortgage to somebody with an address in the Twenty-six Counties?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Is that the bank's policy or is it the regulatory position?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Yes, but is the policy that the property being mortgaged must be in the Six Counties?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Michael McGrath: Yes, in the North.

Financial Resolutions 2018 - Budget Statement 2018 (10 Oct 2017)

Michael McGrath: I wish to share time equally with Deputy Calleary.

Financial Resolutions 2018 - Budget Statement 2018 (10 Oct 2017)

Michael McGrath: On what is world homeless day, the budget and, more importantly, the Government will be judged by how it tackles the scourge of homelessness and our housing crisis more than by reference to any other issue. Today's budget is introduced in a very positive economic environment but under the dark shadow of escalating crises under the Government's watch in housing and health. During the...

Financial Resolutions 2018 - Budget Statement 2018 (10 Oct 2017)

Michael McGrath: They are good at attacking, which is what they do. However, our message to Sinn Féin is a very simple one. It had its chance to influence the Government when it really mattered. The opportunity was there but Sinn Féin bottled it. The party is the classic hurler on the ditch. It is full of opinions and wisdom but when the opportunity comes to don the jersey, take to the field of...

Financial Resolutions 2018 - Budget Statement 2018 (10 Oct 2017)

Michael McGrath: It is much easier to throw stones from the sidelines rather than to go into the battle and fight one's corner. Our party welcomes the fact that the economy is doing very well in overall terms. GDP growth was 5.2% last year, will ease to around 4.3% this year and is forecast to soften further to a still healthy 3.5% next year. It must be noted, however, that the Department of Finance...

Written Answers — Department of Finance: EU Issues (10 Oct 2017)

Michael McGrath: 49. To ask the Minister for Finance the action he is taking at EU level to promote the need for persons living in one EU member state to be allowed to purchase financial services products such as home loans and business loans from financial institutions based in other EU member states; and if he will make a statement on the matter. [42280/17]

Written Answers — Department of Finance: Retail Sector (10 Oct 2017)

Michael McGrath: 51. To ask the Minister for Finance the percentage of transactions in retail outlets across the country in which persons pay with a debit or credit card; the arrangements in relation to the transaction fees that apply to the retailers facilitating such electronic transactions; and if he will make a statement on the matter. [42282/17]

Written Answers — Department of Finance: Banking Sector (10 Oct 2017)

Michael McGrath: 53. To ask the Minister for Finance the legacy losses outstanding from a tax perspective in banks (details supplied); the length of time into the future these losses can be carried forward to reduce tax; if an analysis has been carried out on the effect on the banks of restricting the losses that can be brought forward; and if he will make a statement on the matter. [42308/17]

Written Answers — Department of Finance: Tax Code (10 Oct 2017)

Michael McGrath: 57. To ask the Minister for Finance the steps his Department and the Revenue Commissioners have taken in order to be prepared for the introduction of a sugar tax in 2018; and if he will make a statement on the matter. [42433/17]

Written Answers — Department of Finance: Tax Reliefs Data (10 Oct 2017)

Michael McGrath: 58. To ask the Minister for Finance the level of uptake to date on the improved CGT entrepreneur relief introduced in budget 2017; and if he will make a statement on the matter. [42434/17]