Results 21,921-21,940 of 27,945 for speaker:Michael McGrath

Written Answers — Department of Health: Primary Medical Certificates Applications (9 Apr 2014)

Michael McGrath: 164. To ask the Minister for Health the position regarding the primary medical certificate application in respect of a person (details supplied) in County Cork; the reason they were not awarded the certificate; and the options open to them. [16840/14]

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: I agree that early access can only be allowed in very limited circumstances and that it is policy to encourage people to provide for their retirement, but one of the reasons some people are reluctant to join a private pension scheme is they believe, rightly, that the money will be locked away for a very long time and that, come what may in their own lives - as we know, life throws the...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: Yes.

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: 7. To ask the Minister for Finance the reasons the option of early encashment of AVCs has resulted in significantly less yield than expected; and if he will make a statement on the matter. [16172/14]

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: This question relates to the initiative in budget 2013 pertaining to early access to certain additional voluntary contributions, AVCs. I support this worthwhile initiative, but the figures for the drawdown thus far have been disappointing. The expectation at the time it was announced was that in the first year the additional amount would be approximately €100 million, and that the...

Other Questions: Pensions Legislation (8 Apr 2014)

Michael McGrath: I thank the Minister. The issue of early access to pensions raises its head every now and then. It is an important issue that needs to be debated. The scope of what the Minister introduced in budget 2013 was quite narrow. For example, employer-paid contributions were excluded, as were regular employee contributions, self-employed personal pensions, normal PRSAs and AVCs which were made...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: Another issue I wish to raise with regard to the sector is the Central Bank's initiative to deal with multiple debt scenarios. The credit union representatives have withdrawn from the Central Bank initiative because of what they regard as an imbalance in the treatment of secured and unsecured lenders. In their view it vests inappropriate control in the banks and lacks fairness and...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: The figures the Minister outlined highlight that what we have in the credit union movement is a healthy overall sector, but there are a number of credit unions with serious financial difficulties. It is a question of bringing about the restructuring that is required in order that the weaker credit unions can be supported by the stronger credit unions, and to have such consolidation ideally...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: 4. To ask the Minister for Finance if he will provide an update on the assessment of the financial health of the credit union sector and on the number and extent of regulatory interventions and consolidations within the sector thus far and in the pipeline; and if he is satisfied that everything possible is being done to ensure the vital and unique role of the credit union movement is...

Ceisteanna - Questions - Priority Questions: Credit Unions Restructuring (8 Apr 2014)

Michael McGrath: I am sure the Minister will agree that the credit union sector is vital to the economy and the country and provides an important counter-weight for a banking sector that is still struggling to find its feet. Key issues affect the credit union sector as it is going through a transformation phase. There is much consolidation and credit unions are struggling under onerous lending...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: When one looks at the figures, it is frightening that somewhere approaching 50% of the bank's mortgage arrears cases are heading down, or are already well advanced down, the legal route. It begs the question as to what efforts have been made to prevent them from getting that far. Mr. Bell is putting forward the justification that many of these people have not engaged at all, and they have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: In light of what Mr. Bell has said, does the bank have individual cases on its books where it has ended up issuing a threatening legal letter or ended up taking them to court because of the pressure to meet certain targets as issued by the Central Bank? In a sense, Mr. Bell is blaming the Central Bank targets for these outcomes because Ulster Bank has been under pressure to meet targets and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: I have a few brief final questions. Does Ulster Bank apply the insolvency service's cost-of-living guidelines, or does it have its own?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: How many concluded deals under the insolvency service has Ulster Bank been party to, or have there been any?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: Any involving mortgage debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: In his opening statement Mr. Brown mentioned what he called the tracker porting product for families who may be stuck in a two-bedroom apartment but now have a few children and want to move into a more appropriate home. Can Mr. Brown explain the nature of that product, how it works, and if there has been much interest in it from his customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: Is a tracker plus 1% on that portion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: The Chairman raised the issue of mortgage to rent. It strikes me that with the best will in the world, a good number of those in Ulster Bank's 4,000 plus category of legal proceedings will end up losing their homes. There needs to be an ultimate safety net or back-up for them which could be renting privately away from their own home or, in many cases, hopefully it will be renting their own...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: What are the barriers? Why is it not happening?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: (Resumed) Ulster Bank (8 Apr 2014)

Michael McGrath: I welcome Mr. Brown, Mr. Bell and Mr. Ryan and thank them for forwarding answers to our questions in regard to data to the committee in advance of this meeting. I would like to take up where the Chairman left off. In terms of the statistics provided, the fact that 30% of the bank's mortgage customers who are in arrears of 90 days or more are in the formal legal repossession zone strikes me...