Results 3,641-3,660 of 35,549 for speaker:Pearse Doherty

Written Answers — Department of Health: Health Services (27 Sep 2023)

Pearse Doherty: 129. To ask the Minister for Health when a Cross Border Directive NIPHCS appeal decision will be made (details supplied); the average waiting times for such decisions; and if he will make a statement on the matter. [41681/23]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: I thank our guests for being with us today. I will start with the defective blocks issue. I met the BPFI last May and we spoke of the need for engagement with the redress focus groups. I understand BPFI as a representative body and the banks have met a number of occasions, I believe four times, a very professional organisation representing affected homeowners. Mr. Hayes mentioned that he...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: I ask the individual banks to comment on the appetite for gap funding or products of that nature.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: I presume the other banks are going to say a similar thing. Unless there is something different there or unless one of them is talking about developing a product-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Before Dr. Hunt comes in, I commend the fact that the banks have taken the right approach in coming together. The numbers are small because we are at the start of this. There are thousands of households whose houses have to be demolished. That is the unfortunate, brutal reality of this. Only a few hundred have been approved in respect of the scheme, and there are other challenges now...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: I will move on to other issues. I am sure we will revisit this collectively and individually in the time ahead. I want to challenge Mr. Hayes on something he said. I expect that he will accept that the banks were slow in that their pass through rate in respect of deposits are way lower than the European average, which means that people who have money on savings are not getting the reward...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Yes, but the interest rate on all outstanding mortgages is the data Dr. Ugur is providing. This can be sliced in a number of ways. If we look at, for example-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Yes, but that is not what Mr. Hayes said. New mortgages are a small proportion of the overall mortgage market. The comments, which are running on RTÉ today, are that banks here passed through the second lowest increase in mortgage interest rates between May 2022 and July 2023. I want to dig into that because that is not accurate. It is actually-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: But is that new mortgages or all except-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: So on all mortgages the average interest rate is 3.45%-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: July.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Okay, and last May, which is the reference period Dr. Ugur used, the average interest rate was 2.47%. Does he accept that those figures are accurate?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Okay, so if we go into the ECB data bank and look at outstanding mortgages-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Okay, so when Dr. Ugur gives the reference point from May 2022 to July 2023, what-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: Only for new mortgages.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Banking Issues: Discussion (27 Sep 2023)

Pearse Doherty: That is the point. That is not what is stated in the opening statement. It is a small word, "new", but new mortgages are a small cohort of the overall mortgage market. We can look at the Central Bank's paper, which actually looked at the pass through of mortgage interest rates in terms of our European peers. Dr. Ugur will accept that far from the impression that is being presented here,...