Results 20,441-20,460 of 33,392 for speaker:Paschal Donohoe

Other Questions: Mortgage Book Sales (27 Mar 2018)

Paschal Donohoe: Several points have been put to me. First, I am aware of the differing testimonies given by both banks in recent weeks. While there is no need to do so, we will, of course, look at the transcripts. We were aware of what was said during the questions put to the banks by members of the joint committee. I am aware of how this matter was handled by the different banks. I have outlined what we...

Ceisteanna - Questions (Resumed) - Priority Questions: NAMA Operations (27 Mar 2018)

Paschal Donohoe: I completely reject the inference by the Deputy that what it is doing is in any way criminal or nearly criminal. The Deputy might have a different view on the matter but NAMA's current policy on the management of emails is consistent with its obligations under freedom of information legislation and with regard to best practice on how these records can be filed and for how long they should be...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paschal Donohoe: As I have already indicated, I am not in a position to use the requirement for the banks to consult with me in order to block a sale of this type. As I have already stressed, I am aware of the concerns of mortgage holders in respect of these potential sales and I have committed to a number of actions. I have committed to working with Deputy Michael McGrath on his Bill to regulate funds and...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paschal Donohoe: I find it ironic that the Deputy is asking me to not answer questions that he has not put to me given the question he put to me is different to the one he shared with me in written format and which I answered. I have already indicated that I am not in a position to direct the bank not to go ahead with loan book sales.

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paschal Donohoe: I want to put it on the record that I am not party to and do not support any attempts to demean people who have been making efforts to pay their mortgages. It is difficult and stressful for anybody, regardless of his or her circumstances, who experiences problems in the context of his or her mortgage. It is in response to this that we put in place Abhaile, the code of conduct on mortgage...

Ceisteanna - Questions (Resumed) - Priority Questions: NAMA Operations (27 Mar 2018)

Paschal Donohoe: It is important to clarify that any suggestion that NAMA deletes all emails of staff members one year after departure is not correct. I am advised that, as a first step, NAMA ensures that all emails of business or long-term value are retained in the appropriate repositories. Only when managers are assured that such records have been retained and stored can they authorise the deletion of...

Ceisteanna - Questions (Resumed) - Priority Questions: NAMA Operations (27 Mar 2018)

Paschal Donohoe: The Deputy asked two specific questions - on the commission of inquiry and on the role of An Garda Síochána in respect of NAMA - to which I do not have answers. However, I will make inquiries and revert to him with replies. When the Deputy initially raised this matter with me a number of months ago, my Department and I inquired into the policy in this area and I have shared the...

Ceisteanna - Questions (Resumed) - Priority Questions: Central Bank of Ireland Investigations (27 Mar 2018)

Paschal Donohoe: As the Deputy is aware, the Central Bank of Ireland is responsible for the regulation of the financial services sector. I can confirm that while the Central Bank cannot generally comment on interactions with regulated firms, Ulster Bank Ireland is engaging with the Central Bank in regard to Global Restructuring Group. In November 2016, Royal Bank of Scotland announced a complaints process...

Ceisteanna - Questions (Resumed) - Priority Questions: Central Bank of Ireland Investigations (27 Mar 2018)

Paschal Donohoe: I am aware of the report to which the Deputy has referred. I have outlined the fact that while I cannot ever go into details regarding the work of the Cental Bank and its interaction with regulated firms, this is a matter on which Ulster Bank and the Central Bank are now engaging. When I met representatives of Ulster Bank and its parent group, Royal Bank of Scotland, I indicated to them...

Ceisteanna - Questions (Resumed) - Priority Questions: Central Bank of Ireland Investigations (27 Mar 2018)

Paschal Donohoe: I appreciate and acknowledge that the Deputy respects the role of the Central Bank, and the work it does and is carrying out on a number of matters in respect of the Irish banking system. I am aware, as I indicated to the Deputy a moment ago, of the report he used to provide a backdrop to the question he put to me. At this stage, I can confirm that the Central Bank is engaged on this...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paschal Donohoe: As part of their regular engagement with the banks in which the State has a shareholding, officials in my Department discuss a wide range of topics, including loan sales. I am answering the question the Deputy put to me in written format. What he has just said orally is different. For example, in the case of Project Glas, the recently announced project announced by Permanent TSB to sell a...

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: Corporation tax loss relief is provided for by section 396 of the Taxes Consolidation Act 1997. Loss relief for corporation tax is a long-standing feature of the Irish corporate tax system. It allows for losses incurred in the course of business to be accounted for when calculating a business's tax liabilities. This mechanism is a standard feature of corporation tax systems in all OECD...

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: I have other objectives I need to fulfil in respect of the Irish banking system. The State and the Irish taxpayer own a very large share of the banking system overall. I want to see the State get back that money. I also want to be in such a position that the dividends these banks have begun to pay the Irish taxpayer are maintained in the future. We also have in place a banking levy which...

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: I have not had an opportunity to respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: No. If the Acting Chairman-----

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: The Acting Chairman should manage the contributions of other speakers. Deputy Doherty has put a set of questions to me; I must respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: I should not be penalised-----

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: -----for the Deputy's ability to go on. Of course, the reason Deputy Doherty makes such a statement is to deny me the opportunity to respond. I ask the Acting Chairman to allow me to respond.

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: In what Deputy Doherty has outlined regarding our selling shares within AIB, of course what he has not acknowledged is that when we did sell a large share within AIB, we used the proceeds of that sale to reduce the borrowing the Irish taxpayer had to make to bail out those banks in the first instance. Deputy Doherty was among the most ardent of critics of the Irish taxpayer taking on more...

Ceisteanna - Questions (Resumed) - Priority Questions: Corporation Tax Regime (27 Mar 2018)

Paschal Donohoe: -----for all of that. I have given a commitment-----