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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: I understand that, but I am asking whether it is the Government's strategy to get to 3% and whether any benefit or overshoot will be given back in the form of an easing of austerity in that year.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: Keeping expenditure that low over that period will result in severe pressure on ordinary people. We have a growing and an ageing population and that will translate into serious difficulties.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: That is fine.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: That may be the Minister's position, but many people will take the view, when they consider how they are getting on and the pressures they have in their lives, that it is not working. I want to move on to the point-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: I am telling the Minister the reality of where people are at. That is the reality.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: It is where a lot of people are at. It is fine to have projections on paper relating to deficits but there is an impact on real people and real lives in real communities, and that is what I am reflecting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: That is the reason I believe there needs to be a let-up in austerity.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: I fully contest that, but I want to move on to a question on unemployment. The Minister's last update, with which we must compare this, was in 2012. This time last year, the Minister estimated unemployment would be 11.7% in 2015. In this update, the Minister estimates it will be 12.8%. Given that the Government is suggesting that the action plan for jobs has been so successful, why does...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Stability Programme Update: Discussion with Minister for Finance (30 Apr 2013)

Pearse Doherty: Like Deputy McGrath, I have been trying to parse the figures in the best way possible in the short time available. Most people are concerned about the fiscal adjustment the Government plans in the October budgets this year and next year. The updated document the Minister has provided basically says to stay on course. Some of that is technical assumptions. According to the figures the...

Written Answers — Department of Finance: Mortgage Arrears Rate (30 Apr 2013)

Pearse Doherty: 166. To ask the Minister for Finance further to Parliamentary Question No. 252 of 16 April 2013, if he will confirm the name or names of the principal person or persons at the Central Bank of Ireland responsible for setting and monitoring targets at the banks for dealing with distressed mortgages. [20016/13]

Written Answers — Department of Finance: Banking Sector Remuneration (30 Apr 2013)

Pearse Doherty: 167. To ask the Minister for Finance if he will provide an explanation for the €284,000 of ex-gratia payments paid to former directors/dependents referred to on page 127 of the 2012 annual report and accounts of Bank of Ireland, a bank in which he controls 15% of the ordinary shares and €1.5bn of preference shares. [20017/13]

Written Answers — Department of Finance: Banking Sector Issues (30 Apr 2013)

Pearse Doherty: 168. To ask the Minister for Finance further to reports in a national newspaper that a property subject to a loan from Bank of Ireland, in which he owns 15% of the ordinary shares and €1.5bn of preference shares, was sold in January 2012 for circa STG£ 5m and is now on the market with an asking price of STG 12.3m, if he is satisfied that the sale in January 2012 maximised the...

Written Answers — Department of Finance: IBRC Liquidation (30 Apr 2013)

Pearse Doherty: 169. To ask the Minister for Finance further to a report in a Sunday newspaper on 21 April 2013 regarding the special liquidation of Irish Bank Resolution Corporation which claimed to quote a Department spokesperson telling the newspaper, if the value of the assets sold is not sufficient to compensate National Assets Management Agency for the bonds it has issued, he will be required to...

Written Answers — Department of Finance: NAMA Loans Sale (30 Apr 2013)

Pearse Doherty: 170. To ask the Minister for Finance if he will outline the procedure used by the National Asset Management Agency when approached by a potential buyer of loans controlled by the Agency, and specifically the way it deals with a specific multi-million euro offer for loans; if NAMA has time targets for acknowledging or responding to such approaches; and if there is no acknowledgement or...

Written Answers — Department of Finance: Banking Sector Regulation (30 Apr 2013)

Pearse Doherty: 171. To ask the Minister for Finance further to Parliamentary Questions Nos 64 of 12 July 2012 and 251 of 16 March 2013, the power the Central Bank of Ireland has to compel banks to write down the value of problem loans to the value of underlying security if the bank changes its primary regulator, for example, if Ulster Bank changes its regulator to the Bank of England and the British...

Written Answers — Department of Finance: Banking Sector Issues (30 Apr 2013)

Pearse Doherty: 172. To ask the Minister for Finance further to Parliamentary Question No. 240 of 16 April 2013, if he will provide a reconciliation between the €3.2bn, which now takes the form of our remaining 15% equity stake and preference shares with a nominal value of €1.8bn, and the net cash position of nearer €1.1bn showing coupons, dividends and ELG fees received by year. [20036/13]

Written Answers — Department of Finance: State Banking Sector (30 Apr 2013)

Pearse Doherty: 173. To ask the Minister for Finance further to Parliamentary Question No. 240 of 16 April 2013, if he will confirm the most recent valuation of the State's holding of preference shares in Bank of Ireland. [20037/13]

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Pearse Doherty: 175. To ask the Minister for Finance if a breakdown will be provided on Capital Acquisitions Tax in 2012 as to the percentage that came from inheritance and the percentage from gifts. [20057/13]

Written Answers — Department of Finance: Tax Yield (30 Apr 2013)

Pearse Doherty: 176. To ask the Minister for Finance if he will estimate the amount that would be raised for the Exchequer if the sale of principal residences were included under Capital Gains Tax. [20058/13]

Written Answers — Department of Finance: Tax Avoidance Issues (30 Apr 2013)

Pearse Doherty: 177. To ask the Minister for Finance the amount raised for the Exchequer in 2012 as a result of increased revenue auditing activity and a targeting of black market activity; and his views on whether this amount can be increased through further auditing targets and other measures to reduce tax evasion [20059/13]

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