Results 3,681-3,700 of 16,216 for speaker:Peadar Tóibín

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: There are a couple of things there. It is very important that we have an Irish-wide analysis. European-wide analysis is fantastic but it is really important that we have analysis of the Irish experience specifically. We have had negative experiences with interest rates being set by the European Union. European Union interest rates led in significant part to our property bubble that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: Very good. In relation to the issues of the vulture funds and the interest rates they are charging, Mr. Madouros mentioned the code earlier. The code is a mechanism by which it is understood that we can make sure that vulture funds are adhering to Irish regulations. Is there any lever currently in place in the code to force the vulture funds to stop charging interest rates that are 2%, 3%...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: From a legislative perspective, that is an incredibly weak position by the State, given the approximately 100,000 people who are in the hands of the vulture funds. In many ways, the previous Governments have created a system to force these individuals into the vulture funds' accounts. There is currently a two-tier mortgage system in Ireland. Some people have mortgage interest rates of 3%...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: Yet, it does not have any tool to deal with the two-tier mortgage system that currently exists.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: There is tiering of price. Everybody can see that there are two markets now in terms of interest rates that are being charged. There is one among the traditional banks and there is another among vulture funds. Is that not correct? There are two tiers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: I thank Mr. Kincaid for that. I do not want to be pernickety in relation to this, but I said there is a two-tier market for interest rates. That is not mutually exclusive from everything Mr. Kincaid said afterwards. Indeed, everything he said afterwards does not disagree with that sentence. Our mortgage rate has a two-tier nature. Many people went through extraordinary difficulties after...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: The rules allow it, but in reality, it does not happen, then-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: How does one work that out on a micro level? For example, a woman rang me recently who had a split mortgage and a chunk was warehoused. She was paying €600 per month and then her mortgage went up to €950, which is impossible for her to pay. She has contacted me in relation to that. How do people in this scenario become noticeable to the Central Bank of Ireland to ensure that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: I am conscious that I will probably be getting outside of my time limit soon. I have two final small questions. Out of the 38,000 mortgage holders Mr. Kincaid mentioned, honestly, I cannot imagine the majority of those people will be knowledgeable enough to understand that that is the process. It seems to me that there is a reactive policy by the Central Bank to say, "Well, if people come...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Economic Issues: Engagement with Governor of the Central Bank of Ireland (25 Jan 2023)

Peadar Tóibín: The Sparkasse banking system is understood to be similar to public banking.

Forestry Sector: Motion [Private Members] (24 Jan 2023)

Peadar Tóibín: The history of forestry in Ireland is wrapped up in many ways with the history of the Irish people. We were heavily deforested by the British as part of centuries of colonial asset stripping and now, as a result, we are one of the least forested countries in Europe. This has obviously damaged Ireland immeasurably and we are a poorer country as a result. It is quite ironic, therefore, that...

Forestry Sector: Motion [Private Members] (24 Jan 2023)

Peadar Tóibín: Irish farmers are the primary stakeholders of Irish land. Rural Ireland does not have a future without the family farm and Irish farmers should have been the vehicle to deliver solutions in relation to Irish land. Farmers have the best record in terms of afforestation in this country. Given that the incomes of farmers have been reduced so significantly for so long in this country, it is...

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: The issue of transparency of declarations is vital to a functioning democracy. This is because we have a dark history in this State of business people, developers and so on, people with money, buying influence regarding what happens in this democracy. It has cost us phenomenally, that type of buying of influence. The other side of this equation has not really been focused on at all as of...

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: A number of facts.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: A Cheann Comhairle, I have asked a question here. It has not been answered. I have only 30 seconds left here.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: No, the Minister suggested his name for that.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: A Cheann Comhairle, I asked a question.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: I have made no assertions.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: If you think that the presentation of these facts includes an assertion, that is very telling in its own right.

Statement by the Minister for Public Expenditure and Reform (24 Jan 2023)

Peadar Tóibín: I asked the Minister one question.