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Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: That is what is being reported.

Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: So there is no substance to it?

Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: 7. To ask the Minister for Public Expenditure and Reform if he will report on his examination of the likely cost implications of universal health insurance and potential implications for sustainable public expenditure overall; and if he will make a statement on the matter. [9312/14]

Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: 29. To ask the Minister for Public Expenditure and Reform to outline his views on reported concerns within his Department regarding the potential cost implications of universal health insurance. [9313/14]

Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: There has been quite a public spat, it would appear, between the Minister's Department and the Department of Health over the possible costs of universal health insurance. There have been suggestions that the Minister's Department believes the proposal could potentially threaten the financial stability of the State. There is talk of vast costs for people who would be brought into what is,...

Other Questions: Universal Health Insurance White Paper (26 Feb 2014)

Richard Boyd Barrett: As the Minister is aware, those of us who are opposed to this way of delivering health care have made the point that universal health insurance is mandatory private health insurance organised via the State imposing the system. It is similar to the United States or the Netherlands. Things that have to be factored in to the system include profit for the private health insurance companies,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: Let us say, if it is a commercial or corporate interest.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: It says borrower groups here.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: These are corporate and commercial loans.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: They have been allowed. They have been given the option to buy back their own loans and Mr. Wallace considers that is okay but he decided not to give the people dealing with the mortgage for the roof over their heads, their family home, that option. Mr. Wallace’s decision is based on one law for the family trying to keep a roof over their head and another one for corporate and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: I am absolutely confused. Mr Wallace has said PwC told him that having considered it all, with no models or figures, as we discussed earlier-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: I understand.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: Mr. Wallace took that advice, without figures, without quantifying it-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: Would Mr. Wallace let me get the question out so that I can clarify-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: I am talking about Mr. Wallace and the decisions he has made. He is dealing with all these portfolios. Is that right?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: He might be getting advice from all sorts of people but he says he took the advice of PwC, which told him he should not consider the option of selling back mortgages to individual mortgage holders in respect of family homes. Is that right?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: Mr. Wallace took that advice, saying it would be bad value for money and IBRC should not consider that option. Maybe he got advice on the other tranche of loans, commercial and corporate loans, from elsewhere, and decided it was something to consider.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: In the decisions Mr. Wallace made, one set of rules applied to people trying to keep a roof over their heads and talking about the mortgages on their family homes, and another set of rules applied to commercial and corporate loans.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: I just want to make this clear for everybody. An individual home owner dealing with the mortgage for his or her home cannot buy it back but a corporate or commercial interest might be able to buy their own loan back at a discount. That is the decision Mr. Wallace made.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Richard Boyd Barrett: That is the decision Mr. Wallace made.

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