Results 16,121-16,140 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

Michael McGrath: It is still a very significant number. When the bank obtains a summary judgment against an SME, what happens then? What prospect is there of an agreement being reached to avoid repossession?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

Michael McGrath: What does Mr. O’Keeffe foresee lies ahead in 2018?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

Michael McGrath: What is the landscape?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Allied Irish Banks (23 Jan 2018)

Michael McGrath: How can Mr. O’Keeffe reassure people that the bank is consistent because customers see high profile cases reported on in the media in which millions of euro and sometimes tens of millions of euro are written off by the bank and believe they are being pursued right through the courts system, ending up with a judgment and the sheriff being involved? Surely in cases in which there is...

Written Answers — Department of Finance: Motor Insurance (24 Jan 2018)

Michael McGrath: 77. To ask the Minister for Finance the date his Department officially requested advice from the Attorney General in relation to the collapse of a company (details supplied) following the decision handed down by the Supreme Court; when he expects that advice to be forthcoming; and if he will make a statement on the matter. [3568/18]

Priority Questions: Motor Insurance Claims (30 Jan 2018)

Michael McGrath: 68. To ask the Minister for Finance his plans to intervene to ensure that 100% of the cost of all outstanding claims arising from the collapse of a company (details supplied) are fully met and that former policyholders of the company are not held personally liable for claims; and if he will make a statement on the matter. [4525/18]

Priority Questions: Motor Insurance Claims (30 Jan 2018)

Michael McGrath: This question relates to Setanta Insurance, and ensuring that 100% of the costs of outstanding claims are met. I welcome today's announcement by Government. It has taken far longer than it should, but I think that those who are caught up in the nightmare will now want to know when 100% of the costs of the outstanding claims will be settled, because that is the key issue. This has been a...

Priority Questions: Motor Insurance Claims (30 Jan 2018)

Michael McGrath: I welcome today's announcement, and I acknowledge the work that the Minister of State has put into it. As he will know, it is an issue that my party and I have been raising for the last number of years. Those who are caught up in the Setanta mess will want to know when they will get the final payments and when 100% of the cost of claims will be met. I know that under existing legislation,...

Priority Questions: Motor Insurance Claims (30 Jan 2018)

Michael McGrath: With regard to the numbers, assuming that the higher claims estimate of €112.9 million is more accurate and that the 22% liquidator's estimate of what he can cover is accurate, the net additional cost will be of the order of €15 million rather than €40 million, provided that the liquidation delivers what is expected based on the actuarial report. I refer to the issue...

Priority Questions: Banking Sector (30 Jan 2018)

Michael McGrath: 70. To ask the Minister for Finance his plans for the future of a bank (details supplied) in view of the fact that he is the majority stakeholder; and if he will make a statement on the matter. [4526/18]

Priority Questions: Banking Sector (30 Jan 2018)

Michael McGrath: The question relates to Permanent TSB, in which the Minister is the majority shareholder, owning 75% of the bank. The purpose of the question is to establish what is his policy in respect of the future of the bank. It is an important retail bank in our country but it is facing significant challenges. However, I believe there are opportunities as well to which I will refer shortly. I am...

Priority Questions: Banking Sector (30 Jan 2018)

Michael McGrath: I thank the Minister for his reply. Permanent TSB has high levels of capital. I too have read the financial results and trading statement. Residential lending is its core business. It has a market share of 11.9% in respect of mortgage drawdown. It must also be said, however, that it has a very high level of non-performing loans at 28%. There is considerable pressure from the European...

Priority Questions: Banking Sector (30 Jan 2018)

Michael McGrath: I respect what the Minister is saying. It is of course important that the bank be supported. The State and our economy have a direct financial interest in Permanent TSB and its performance. However, I argue, as I have done before, about how certain customers are treated. If one takes the bank's managed variable mortgage rate for example, customers are only allowed to revise their rate...

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Michael McGrath: 72. To ask the Minister for Finance his views on the proposals by certain EU member states on changes to the way in which digital or high tech multinational companies are taxed; and if he will make a statement on the matter. [4527/18]

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Michael McGrath: I refer to the emerging EU proposals on the taxation of digital revenues. We have a particular interest in this issue, given that this is a country in which some of the world's largest Internet-based companies are located. I am aware of Revenue's guidance to the Minister which has been released through a freedom of information request. What is the Government's position on the proposals made?

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Michael McGrath: Is it the intention that the OECD and EU proposals will be aligned, that is, there will be no unilateral action at EU level? Is it the Government's position that this issue needs to be dealt with on a multilateral basis that extends beyond the European Union? Will the Minister confirm that he has received a briefing document from Revenue on the emerging digital revenue proposals from some...

Priority Questions: Corporation Tax Regime (30 Jan 2018)

Michael McGrath: I thank the Minister. Will he confirm receipt of a briefing paper from the Revenue Commissioner which, it is reported, states the proposals would result in a significant fall off in corporation and payroll tax receipts for Ireland, as well as impacting negatively on the ability of the State to attract inward investment in the future? The point is also made in the briefing document that the...

Other Questions: Mortgage Debt (30 Jan 2018)

Michael McGrath: I am not sure if the Minister is aware that unregulated loan owners, so-called vulture funds, have refused to engage with the Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach. The committee will write to the Minister shortly and we will put a motion before the House on the matter. Is the Minister satisfied with the situation where the loan owners remain beyond...

Other Questions: National Debt Servicing (30 Jan 2018)

Michael McGrath: 76. To ask the Minister for Finance if progress has been made with the European Commission in securing some flexibility on the way in which one-off proceeds such as a NAMA surplus and the sale of bank shares may be used; and if he will make a statement on the matter. [4283/18]

Other Questions: National Debt Servicing (30 Jan 2018)

Michael McGrath: This question relates to the application of the fiscal rules to one-off receipts, whether it be the sale of a stake in banks that the State might hold or a NAMA surplus which will materialise in the coming years. Has the Minister for Finance raised or made any progress with the Commission on getting additional flexibility on how such proceeds can be used as opposed to being bound by the...