Results 2,441-2,460 of 6,627 for speaker:Rose Conway-Walsh

Ceisteanna - Questions: Cabinet Committees (5 Jul 2023)

Rose Conway-Walsh: I again welcome Aaron. Yesterday, the Government finally published the defective concrete block scheme. Despite a clear promise the updated scheme would open by the end of 2022, it has taken the Government a full year to get the scheme up and running. I am still reviewing the details of the regulations but I am concerned it will still leave many people behind. Changes to the scheme will...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: I thank Mr. McGann for his statement. I apologise that he was kept waiting for so long. In the future-proofing document, the Department stated, "In 2019, the Government established the National Reserve Fund; the objective was to provide sufficient funds to mobilise counter-cyclical fiscal support in the event of a severe economic downturn." Does the National Reserve Fund face any...

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: What I am trying to get at is whether, in the event of an economic slowdown and a drop in tax revenue, this €6 billion could be used to fund Government spending to avoid budget cuts or borrowing from the international markets. Or does it have to be for-----

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: We could find ourselves in a situation where we have €6 billion or more in a fund but would not be able to access it as an alternative we would have to borrow or-----

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: Any changes to that would have to be done by legislation.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: It would, yes. The future-proofing document states there are numerous examples of advanced countries establishing sovereign wealth funds to build a fiscal buffer. Are there any international examples of states establishing reserve funds or other forms of fiscal buffers that are stored in the debt issued by the same state?

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: I am trying to get at how they are stored.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: Just in other countries, are there are examples of how the sovereign wealth funds are stored?

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: Yes, and I have that part of it. The fund we have at the moment is held solely in Irish sovereign debt in the form of Exchequer notes, is that correct?

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: Were we to draw down the funding of any type from the National Reserve Fund, say in exceptional circumstances, would it require cashing in some or all of the Exchequer notes? Are they redeemed by the Irish State or is there a secondary market for those notes?

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: Okay.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: In the context of the corporation tax increase from €11 billion to €22.5 billion, is there any correlation with productivity in the multinationals? Are measurements being done to explain why? In terms of pharmaceuticals, there was an increase during Covid-19 and all of that but do we have any measurements?

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: I thank Mr. McGann.

Committee on Budgetary Oversight: Sovereign Wealth Funds: Discussion (Resumed) (5 Jul 2023)

Rose Conway-Walsh: So, it has nothing to do with the OECD changes and the global taxation changes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Rose Conway-Walsh: I thank the witnesses for attending. This is an important meeting. I come from County Mayo where many people are in a similar situation. It is clear that the scheme cannot work without the co-operation of the banks and their recognition that this is an abnormal situation. Trying to fit it into a normal bracket will never work. I am concerned. I have just come from Taoiseach's...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Rose Conway-Walsh: In the witnesses' opinions, are the banks making extra money off the backs of the people impacted by pyrite and mica?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Rose Conway-Walsh: I wish to ask about the valuation of the houses. When a bank comes out to value a house that people have applied to demolish, it might value it at €300,000 even though it is worth nothing but if the people want to use their own valuer to value it, the bank will say that they must pay to have that done. Could the witnesses speak to the conflict between €0 and €300,000...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Defective Block Redress: Redress Focus Group for Banking and Insurance (5 Jul 2023)

Rose Conway-Walsh: Exactly. I want to cover another couple of things about the independent engineers that I have raised with the Taoiseach as well, and I know we have discussed this a bit, to ensure nobody is coerced into partial remediation. I put that question to him, but again, he did not answer that. That would be one of the concerns for the Mayo homeowners as well, in that we are very clear that all of...