Results 27,501-27,520 of 35,894 for speaker:Pearse Doherty

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: I move amendment No. 6:In page 6, between lines 16 and 17, to insert the following:“(2) Following the passing of this Act the Minister shall direct the Central Bank to publish the SME debt restructuring targets for banks and the performance of the banks in reaching these targets on a quarterly basis.”.This provides for the inclusion of an additional subsection which provides...

Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (Resumed) and Remaining Stages (10 Jul 2014)

Pearse Doherty: I know it is beyond the scope of the Bill in terms of the Long Title, but we can change the Long Title on Report Stage if we wish. That is clear. The point is that this is relevant to what we are discussing here. Whether it is the Central Bank or the Minister directing it to do so is immaterial, and obviously there is an issue in that regard, but the real issue is that these targets should...

Strategic Banking Corporation of Ireland Bill 2014: Committee Stage (Resumed) and Remaining Stages (10 Jul 2014)

Pearse Doherty: In case I missed it, does the Minister believe these targets should not be made public? Does he believe the targets should continue to remain private or that we should have transparency in respect of the pillar banks as to what the targets are and how they are meeting them?

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: We are not going to see eye to eye on this issue. Perhaps the Minister is more hopeful that the reports that come from the banks will be acceptable. As I stated, a report can be made to appear as if it fulfils the requirements. I take the Minister to task on his statement that "additional" is the key word. Nowhere in the legislation does it state that lending must be "additional"; it...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: I appreciate that, but I believe my point still holds in that while the requirement of the SBCI is to provide additional credit, which it will do by putting credit into the marketplace, it does not necessarily require the banks or on-lending institutions to provide additional credit. That is my concern in that regard, which I think has been well flagged.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: I move amendment No. 5:In page 6, between lines 16 and 17, to insert the following:"(2) The Minister for Finance will ensure the Central Bank has recourse to supervisory measures, including imposing capital requirements for borrowers from the SBCI who do not lend to the real economy as laid out in subsection 1(g) and (h).".We touched on this issue earlier. This amendment arises out of the...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: What the Minister referred to in his last contribution does not exist in legislation because the company has not yet been established and there is no requirement on the on-lenders to inform the SBCI how they are on-lending the money they are getting from it. We are speaking about a company that is being established to lend money to a bank which is regulated by the Central Bank and will lend...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: Yes.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: I am unclear on how the corporation will interact with Microfinance Ireland. The Minister said there would be engagement, but let us consider Microfinance Ireland. It is a stop-gap option for companies that have been refused by commercial banks. They go to this State-funded entity where the rate is 9.5%. Now we are setting up a vehicle that will provide funding at cheaper credit rates...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: I move amendment No. 3:In page 6, line 1, after “on-lending” to insert “and directly”.We are going to run out of time as a result of the guillotine the Minister has placed on us, so I will not take up much time on these amendments. Amendment No. 3 is a simple amendment. The purpose of the Bill is to allow for on-lending. I believe this should be accompanied by...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: The Minister has taken the discussion into sections 11 and 12. These are the key areas and we do not question the intention of the Minister to keep this in public ownership. The provision of the Bill provides for it to go into private ownership. That may be a precautionary measure or on the advice of the Attorney General. No one knows what the future holds and we may all want to get rid...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: On a point of order, my understanding is that Members can make two comments. The first is not time-limited and the second should be confined to two minutes-----

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: So it is only one comment per individual.

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: In regard to amendment No. 1, and we are also dealing with amendments Nos. 11, 13 and 14, I want to deal with the issue of social housing. While I know the amendments are brought forward in good faith, I am not sure how the mortgage distress side would work out and whether we would use this company to provide credit to those who have mortgages in distress so they could pay back all of the...

Strategic Banking Corporation Bill 2014: Committee and Remaining Stages (10 Jul 2014)

Pearse Doherty: My concern is that we need to sort out the banks with the mortgages. This is a convoluted way of sorting that out but I accept it was brought forward with the right intention. The housing aspect is crucial. An issue I raised on Second Stage is the definition of "other persons in the State", which the Minister said is anybody who is a legal entity. Therefore, can there be lending to...

Order of Business (10 Jul 2014)

Pearse Doherty: Ba mhaith liom gach rath a ghuí ar an Tánaiste fosta. The Moriarty tribunal reported to the House over three years ago, but its recommendations have not been implemented. I am told in reply to a parliamentary question that some of the recommendations were included in a Bill which was introduced in 2007 and is still before the House. Other recommendations are still being dealt...

Order of Business (10 Jul 2014)

Pearse Doherty: No, it is not.

Strategic Banking Corporation of Ireland Bill 2014: Second Stage (10 Jul 2014)

Pearse Doherty: Ba mhaith liom tagairt a dhéanamh don cheapachán sa Roinn Airgeadais a luaigh an cainteoir a chuaigh romhaim. Guím gach rath pé duine ar bith a bheidh ag stiúradh an Roinn sin mar go bhfuil amanna crua romhainn agus cinnithe iontacha tábhachtacha le glacadh. Caithfidh mé a rá go sílim gur chóir scrúdú mar is ceart a bheith...

Written Answers — Department of Finance: Tax Code (10 Jul 2014)

Pearse Doherty: 42. To ask the Minister for Finance if the State charges interest or a fee for late payment of Government stamp duty by credit card companies; and if he will make a statement on the matter. [30475/14]

Written Answers — Department of Finance: Tax Code (10 Jul 2014)

Pearse Doherty: 43. To ask the Minister for Finance if the State receives any revenue from late payment fees or interest charged on Government stamp duty on credit cards; and, if so, the amount of revenue collected. [30476/14]