Results 22,981-23,000 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: By November it is hoped to publish on the results to the end of June.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: A key issue is that the Central Bank has regulatory responsibility on the prudential side to supervise banks and ensure they are performing functions correctly, and there is also a regulatory function relating to consumer protection. When I consider the mortgage arrears targets programme, it is very much designed on the prudential side. I argue that it is skewed firmly in favour of banks....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: That is what happened. There is no definition from the consumer perspective. The Central Bank has a function, from the perspective of consumer protection, to give those in mortgage arrears a clear definition of a sustainable solution, and they have a right to a solution where they meet required criteria. Why has that not happened?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: Where is the definition of a sustainable mortgage from the perspective of a person in arrears?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: The witness made no criticism in his opening remarks of the mix of solutions offered by the banks. Considering the latest official data for the end of June, we are still not seeing long-term forbearance measures coming through in any significant way. There is no real sign of split mortgages, permanent interest rate reductions or debt-for-equity processes. Is the witness satisfied that the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Matters Relating to the Economy: Discussion with Governor of Central Bank (25 Sep 2013)

Michael McGrath: I will move to the issue of strategic default, as it was raised time and again by bank representatives when they came before us. One representative estimated that of the arrears book, approximately 20% is made up of strategic defaulters. They choose, for whatever reason, not to pay their mortgage despite having a capacity to do so. Professor Honohan has remained silent on this issue and I...

Written Answers — Department of Justice and Equality: Insolvency Service of Ireland Applications (25 Sep 2013)

Michael McGrath: 15. To ask the Minister for Justice and Equality the number of applications that have been made to the Insolvency Service of Ireland since its inception to date; and if he will make a statement on the matter. [39604/13]

Written Answers — Department of Finance: VAT Rates Reductions (25 Sep 2013)

Michael McGrath: 71. To ask the Minister for Finance the cost that would be incurred in 2014 if the current reduced 9% rate of VAT was to continue for an additional year; and if he will make a statement on the matter. [39936/13]

Written Answers — Department of Finance: VAT Rates Reductions (25 Sep 2013)

Michael McGrath: 72. To ask the Minister for Finance the approximate revenue foregone as a result of the 9% VAT rate in each year since its inception in 2011; and if he will make a statement on the matter. [39957/13]

Written Answers — Department of Finance: Pensions Levy Yield (25 Sep 2013)

Michael McGrath: 73. To ask the Minister for Finance the revenue raised from the pension levy in 2013; and if he will make a statement on the matter. [39958/13]

Written Answers — Department of Finance: Tax Yield (25 Sep 2013)

Michael McGrath: 74. To ask the Minister for Finance if he will provide in tabular form the revenue from the air travel tax in each year since 2010 and to date in 2013; and if he will make a statement on the matter. [39959/13]

Written Answers — Department of Transport, Tourism and Sport: Air Travel Tax (25 Sep 2013)

Michael McGrath: 202. To ask the Minister for Transport, Tourism and Sport the reason he did not proceed with the suspension of the air travel tax as announced in the 2011 jobs initiative and provided for under the Finance (No. 2) Act 2011; and if he will make a statement on the matter. [39944/13]

Written Answers — Department of Agriculture, Food and the Marine: Single Payment Scheme Payments (24 Sep 2013)

Michael McGrath: 63. To ask the Minister for Agriculture, Food and the Marine the average decrease in single farm payments to the 2013 single farm payment as a result of changes to the multiannual financial framework; and if he will make a statement on the matter. [39548/13]

Written Answers — Department of Agriculture, Food and the Marine: Common Agricultural Policy Reform (24 Sep 2013)

Michael McGrath: 75. To ask the Minister for Agriculture, Food and the Marine his plans to publish a discussion document on Pillar 2 options under the Common Agricultural Policy reform programme; if he plans to announce his firm proposals in relation to Pillar 1 and Pillar 2 at the same time; and if he will make a statement on the matter. [39534/13]

Written Answers — Department of An Taoiseach: Ministerial Allowances (24 Sep 2013)

Michael McGrath: 124. To ask the Taoiseach the number of miles claimed for and the amount of travel expenses paid to him and each Minister of State in his Department in respect of his official functions; and if he will make a statement on the matter. [39115/13]

Written Answers — Department of An Taoiseach: Departmental Agencies Pension Provisions (24 Sep 2013)

Michael McGrath: 125. To ask the Taoiseach in respect of each State agency and commercial State company under the aegis of his Department, if he will provide details of the name of each pension scheme; details of the salary percentage contributions made by the employer and the employees; the latest information on the funding position of the scheme; if any changes are planned; and if he will make a statement...

Written Answers — Department of Finance: Departmental Expenditure (24 Sep 2013)

Michael McGrath: 192. To ask the Minister for Finance if he will provide in tabular form, the costs incurred annually since 2011 for each aspect of the jobs initiative as announced; the revenue raised from measures to fund the scheme; and if he will make a statement on the matter. [39556/13]

Written Answers — Department of Finance: Budget 2014 Issues (24 Sep 2013)

Michael McGrath: 193. To ask the Minister for Finance if the opening budget position for 2014 on which his budget adjustment will be based includes the continuation of the current reduced 9% rate of VAT; and if he will make a statement on the matter. [39557/13]

Written Answers — Department of Finance: Corporate Tax Regime Issues (24 Sep 2013)

Michael McGrath: 194. To ask the Minister for Finance the revenue that would be raised from increasing the corporation tax rate on passive investment by 5% from 25% to 30%; and if he will make a statement on the matter. [39558/13]