Results 1,741-1,760 of 1,974 for speaker:Arthur Spring
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: What percentage of the bank's lending facility is being given over to site finance for developers and working capital for developers and builders to build new homes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: How significant is the bank's construction lending relative to ten years ago?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: How much lower?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Can Mr. Brown express the figure as a percentage? Is it 50% or 20% lower than it was ten years ago?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Lending for site finance is, therefore, approximately 10% of what it was previously.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Site finance and working capital to build new homes, etc., stands at approximately 10% of the level at which it stood ten years ago.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: This is part of the problem we are experiencing the housing market. Approximately 80,000 homes were being built annually a decade ago. If Ulster Bank and all the other financial institutions are providing only 10% of the construction finance they were providing at that time, only 8,000 houses will be built annually. This figure is nowhere near what the market needs. Ultimately, if one is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: That is the bank’s fault, not the fault of the homeowners of Ireland.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Is it not a form of market manipulation when Ulster Bank is down to 10% of previous lending to this sector and there is a restriction on the amount of money available to the banking system for people to buy sites and build homes?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: How are we going to get the supply-and-demand issue sorted if the banks take the attitude that Ulster Bank has taken?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: I acknowledge that. However, the reason the bank exists is because it is provided with a licence by the Central Bank for the betterment of the State.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Ultimately, the cost of housing is going up which is improving the share price of the banks. However, this is all to the detriment of those who want to get on the housing ladder, particularly for first-time buyers who are down to 80% LTV, loan-to-value, ratios as opposed to the 100% RBS, Royal Bank of Scotland, introduced back in the day. I am pressing upon Mr. Brown the need for Ulster...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: I acknowledge that but I must press my point that we need more houses to be built and finance to do that. In the Dublin area and other cities, I have seen many cases where there is a demand for housing but it is not being met by the banks. It will be to the benefit of the banks’ shareholders to complete the circle. How would reducing the bankruptcy term from three years to one...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Mr. Brown, may I give you some tacit knowledge from dealing with people as a politician and a former banker myself? I thought there would have been an avalanche of applications for bankruptcy after the introduction of the three-year regime.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: There is a hang-up about bankruptcy in Ireland. There is a stigma attached to it with an unwillingness to declare it publicly and admit what is perceived as a failure when it is a consequence of something greater than the individual or the bank. The one-year element will encourage many people to go down the route of bankruptcy. I would like to see an arrangement put in place whereby a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Deputy Richard Boyd Barrett is not robbing my ideas anymore.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: We have just announced €2 billion for social housing.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: Where does it appear to do that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Ulster Bank (29 Apr 2015)
Arthur Spring: I am not the Government.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)
Arthur Spring: We will see. I thank the witnesses for attending. Will they give an estimate of the market capitalisation or value of Bank of Ireland at the moment?