Results 16,961-16,980 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Finance: Financial Services and Pensions Ombudsman Data (9 May 2018)

Michael McGrath: 89. To ask the Minister for Finance further to Parliamentary Question No. 82 of 1 May 2018, the number of cases referred to the Central Bank by the FSO-FSPO by year and area, that is, investment products, insurance or banking; the overall nature of the original complaint in each case; the grounds on which the FSO-FSPO deemed it necessary to refer each case to the Central Bank; and if he will...

Written Answers — Department of Education and Skills: Social Media in Education (9 May 2018)

Michael McGrath: 105. To ask the Minister for Education and Skills his policy on the use of social media by primary schools; the steps he is taking to ensure that children whose parents do not wish their child to feature in the school's social media posts are not excluded from school activities; and if he will make a statement on the matter. [20237/18]

Written Answers — Department of Health: Nursing Homes Support Scheme Eligibility (9 May 2018)

Michael McGrath: 179. To ask the Minister for Health if a person is allowed a deduction from their income for rental payments they are making or certain loan repayments in the context of the financial assessment under the nursing home support scheme; and if he will make a statement on the matter. [20308/18]

Written Answers — Department of Finance: Tax Yield (10 May 2018)

Michael McGrath: 73. To ask the Minister for Finance the yield from DIRT in 2017; the forecasted yield in 2018; and if he will make a statement on the matter. [20533/18]

Written Answers — Department of Finance: Tax Yield (10 May 2018)

Michael McGrath: 74. To ask the Minister for Finance the yield from life assurance exit tax in 2017; the forecasted yield in 2018; and if he will make a statement on the matter. [20534/18]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee (Resumed) (10 May 2018)

Michael McGrath: It was an interview that would shake anyone to the core. It is a human tragedy and it behoves all of us to ensure that the truth, however unvarnished or uncomfortable it is, is reached and that there is accountability and justice. Emma and her family have an incredibly difficult road ahead. It is such a tragic situation and all we can do is extend our full support, our best wishes and be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: I welcome the Governor of the Central Bank, Professor Philip Lane, and his colleagues. I will stick with the issue of housing for a moment. The most recent figures show that house prices are increasing by approximately 13% per annum. What is Professor Lane's forecast for house price growth in the period ahead?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: If I may clarify the matter, the figure Professor Lane cited is from a survey of industry experts, rather than the view of the Central Bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Does the Central Bank not take a view on future house price growth?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Professor Lane indicated he did not envisage double-digit house price growth. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: What is Professor Lane's view?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Professor Lane's statement that there is a material risk of a reversal in house prices is significant and important. Will he clarify what he means by that? How does he define a material risk?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Just to be absolutely clear, because words matter from Professor Lane as he is the Governor of the Central Bank, when he said a "material risk" of a reverse in house prices is he talking about a slowdown in the rate of growth in prices or a material risk of house prices actually falling in the next two or three years?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Does Professor Lane have any concerns for people who are buying now and who are taking out massive mortgages? They will be mortgaged to the hilt for the next 30 years and Professor Lane has said there is a "material risk" that prices will actually fall in the next two or three years.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: I shall now turn to budgetary policy. We are still five months out from the budget but if there is fiscal space of more than €3 billion - and this is not yet certain - would it be prudent to use all of that or does the Governor think there should be a scaling back of expectations and a more cautious approach to the budget?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: On the issue of split mortgages and in the context of non-performing loans, what work is ongoing around the definition? This relates to Permanent TSB's split mortgages and the fact that AIB's split mortgages are deemed to be performing loans under the European Banking Authority's single supervisory mechanism, SSM, technical definition. What work is ongoing around the more than 4,000 split...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: The current classification remains that - in the case of one bank - they can be deemed as non-performing by the SSM. That is the reality. In this bank's case, the warehoused element can be transferred at any time into the active mortgage, whereas in the case of AIB the warehoused element cannot be transferred in until the active mortgage has been fully repaid. The fact that it is open to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: The banks are clear on what they need to do to meet that. I will raise one other issue and come back in later to discuss tracker mortgages. The definition of a "first-time buyer" in the context of the macroprudential rules makes a huge difference, particularly when the Government's help-to-buy scheme is considered. In the case of a house on sale for €400,000, if I am a non...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: Why does the deposit need to be 20% for the non first-time buyer in the first place, aside from the variation allowed in lending?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector: Quarterly Engagement with the Central Bank of Ireland (10 May 2018)

Michael McGrath: I wish to raise two related points. One is the issue of returning emigrants. I have a number of cases of people who went abroad when the economy crashed. They bought a property in London, for example, lived there for a number of years, sold it and returned home. They do not have a huge lump sum and they never owned a property in this jurisdiction but they are deemed to be non first-time...