Results 23,921-23,940 of 27,945 for speaker:Michael McGrath

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: I welcome Mr. Trethowan. It is always impressive when a witness comes before the committee alone and is not surrounded by a team of officials. I know Mr. Trethowan does not have such a team in any event.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Absolutely. Mr. Trethowan's office does some very good work. The various reports it has issued have helped to provide a better understanding of the issue of credit and the various factors that are at play in respect of it. The number of appeals the office receives remains disappointingly low. Given the fact that well over 50% of the appeals Mr. Trethowan considers are upheld and that he...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: I accept that. My point is that the high level of successful appeals should be a cause of great concern. It is a vindication of the work Mr. Trethowan's office is doing but it is also a measure of the failure of the banks to deal with credit applications fairly. So many more credit decisions which would have similar characteristics to those upon which he is adjudicating are just not...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: The overall figures relating to the two pillar banks for 2012, which are contained in Mr. Trethowan's most recent quarterly report, indicate that these banks have met their SME loan targets of €3.5 billion. The report also indicates that over €8 billion in credit was sanctioned in 2012 and that €2.5 billion of this was new lending that was drawn down. How much of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Of the €8 billion sanctioned, how much was drawn down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Does that relate to new lending or does it relate to restructuring or roll-overs that have not been drawn down?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: Is Mr. Trethowan stating that €5.5 billion of the €8 billion sanctioned was not drawn down at all?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: I would class that as being drawn down.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: So the amount of new money available was €2.5 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: The terms "lending targets", "draw-downs" and "sanctions" are used on an interchangeable basis. However, the reality is that the amount of new money from the €7 billion the banks were required to lend into the economy was €2.5 billion.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: The SMEs made repayments of approximately €4.5 billion and, as a result, the balance sheets of the banks actually contracted by approximately €2 billion. This means that the amount of money circulating in the economy in 2012 was €2 billion less than expected.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Access to Credit Provision: Discussion with Credit Review Office (20 Feb 2013)

Michael McGrath: I accept that demand is depressed. There is certainly no question about that. Will Mr. Trethowan indicate why so much of the sanctioned lending is not drawn down? Does his office ever assess the reasonableness of the conditions that are attached to loan offers? Businesses have informed me that the security requirements that are attached and the interest rates that form part of the loan...

Order of Business (20 Feb 2013)

Michael McGrath: Almost a year ago, the House passed a Fianna Fáil Party Private Members' Bill designed to give the Financial Services Ombudsman the power to publish the complaints records of financial institutions. The Bill cannot proceed to Committee Stage until the Government produces its amendments. Speaking on television this week, the Ombudsman called for these powers. The Bill has completed...

Written Answers — Department of Foreign Affairs and Trade: Northern Ireland Issues (20 Feb 2013)

Michael McGrath: To ask the Tánaiste and Minister for Foreign Affairs and Trade the discussions he proposes to hold with the Northern Ireland Secretary of State to advance the Bill of Rights as proposed in the Good Friday Agreement; and if he will make a statement on the matter. [8947/13]

Finance Bill 2013: Second Stage (19 Feb 2013)

Michael McGrath: I am pleased to have an opportunity to contribute on Second Stage of the Finance Bill 2013 although I do not particularly see the need for the Second Stage to take place so late in the evening. I acknowledge that it has been an historic day in the Oireachtas but I do not see the reason for a great rush. While Second Stage is important, Committee Stage is even more important and I hope...

Written Answers — Department of Transport, Tourism and Sport: Alcohol Advertising (19 Feb 2013)

Michael McGrath: To ask the Minister for Transport, Tourism and Sport his views that a ban on sponsorship by alcohol companies would be detrimental to sport in this country; and if he will make a statement on the matter. [8550/13]

Written Answers — Department of Transport, Tourism and Sport: Tourism Promotion (19 Feb 2013)

Michael McGrath: To ask the Minister for Transport, Tourism and Sport the action he will take to reverse the decline in visitor numbers from Britain; and if he will make a statement on the matter. [8545/13]

Written Answers — Department of Finance: Irish Bank Resolution Corporation (19 Feb 2013)

Michael McGrath: To ask the Minister for Finance if he will respond to a matter raised in correspondence in the context of the appointment of a Special Liquidator at Irish Bank Resolution Corporation (details supplied). [8207/13]

Written Answers — Department of Finance: Tax Collection (19 Feb 2013)

Michael McGrath: To ask the Minister for Finance if the Revenue intend carrying out a revised income tax assessment for a person (details supplied) in County Galway in respect of years prior to 2012 on foot of the data sharing between Revenue and the Department of Social Protection; and if he will make a statement on the matter. [8097/13]

Written Answers — Department of Finance: Irish Bank Resolution Corporation (19 Feb 2013)

Michael McGrath: To ask the Minister for Finance if deposits taken by Anglo Irish Bank under a scheme designed specifically for credit unions (details supplied) will be fully covered by the deposit guarantee scheme and eligible liabilities guarantee; the reason deposits were not moved to AIB when the Irish Bank Resolution Corporation deposit book was sold; and if he will make a statement on the matter. [8210/13]