Results 21,001-21,020 of 27,945 for speaker:Michael McGrath
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)
Michael McGrath: I wish to give my observations on direct retroactive recapitalisation. In his heart of hearts the Minister knows that the possibility of securing a deal that would be attractive to Ireland is becoming increasingly remote. I do not say that as a political charge.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)
Michael McGrath: I never said that.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)
Michael McGrath: If the Minister would hear me out, I wish to give my observation. I am not asking the Minister to give up. I do not suggest the Minister has given up. I am giving my observation; looking in from the outside, essentially, it does look increasingly remote because of a number of-----
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: European Stability Mechanism (Amendment) Bill 2014: Committee Stage (8 Oct 2014)
Michael McGrath: No, it is an opinion, and I am entitled to an opinion. If I can continue, I will finish it and the Minister can respond. First, I refer to the way the ESM is set up and the quantum of money that is there - €60 billion for direct recapitalisation. The amount involved in Ireland in the case of AIB, Bank of Ireland and Permanent TSB is in the region of €30 billion, and that is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: What are the 2014 growth forecasts for the United Kingdom, the euro area and the United States, which collectively account for approximately two thirds of our exports?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Is the growth forecast for the euro area largely flat?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Collectively, the euro area, United Kingdom and United States economies will grow by between 1% and 1.5% this year. Irish export growth is much greater than that. What is driving the expansion of exports? While I acknowledge that Ireland has regained significant competitiveness in the past five or six years, what is causing the spurt in exports, especially given that the economies to which...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: The slide shows that exports are expected to increase by 8.3% in 2014. Is this figure by volume or value?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: It is not distorted by foreign exchange rates; it is absolute volume.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: There has been a recovery in retail sales, which are a good measure of the performance of the domestic economy and current levels of disposal income. Part of the increase is related to a significant rise in motor sales. What is the year-on-year increase in retail sales by volume and value as at the end of September? Is it the case that they increased by between 2% and 3% over the year?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Is that measured by volume?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: I welcome Mr. McCarthy and his colleagues from the Department of Finance. The presentation was very informative and largely positive for the economy, which is good news. Clearly the significant improvement in exports seems to be the main driver of growth in GDP. To what extent do net exports contribute to the increase in the growth forecast for 2014? At present, the Department is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: That figure is up from 2.1% last April. That is a very dramatic escalation in growth.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: It has happened very quickly. We are not really seeing the impact of this on the street. I assume it is largely driven by net exports.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: It is domestic demand that is driving it?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Generally, what percentage does domestic demand account for in terms of GDP?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Clearly its weighting is more significant as a driver of GDP.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: Please do.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Budget 2015: Department of Finance (7 Oct 2014)
Michael McGrath: What about net exports?
- Written Answers — Department of Finance: Water Charges Introduction (7 Oct 2014)
Michael McGrath: 166. To ask the Minister for Finance the financial implications for the Exchequer if Irish Water were not to charge domestic consumers for water use; and if he will make a statement on the matter. [37932/14]