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Finance Bill 2021: Report Stage (1 Dec 2021)

Mairéad Farrell: I must say that when the Minister got up to speak earlier, I thought I was in some kind of alternate reality or universe, whereby we, in Sinn Féin have been in government for the past years, when he said that the thing we need to do is to build homes. That is something that we have long been calling for. However, it has been the Minister and his party who have been in government and...

Finance Bill 2021: Report Stage (1 Dec 2021)

Mairéad Farrell: As the Minister well knows, people of all ages are struggling to pay their rent. I regularly have people come to me - friends, family, neighbours etc. - who are struggling or unable to pay their rents. These are people my age who may be looking to start a family and who have to move back to the family home because they simply cannot pay their rent or, if they can, they certainly are not...

Written Answers — Department of Public Expenditure and Reform: Covid-19 Pandemic (1 Dec 2021)

Mairéad Farrell: 81. To ask the Minister for Public Expenditure and Reform if his attention has been drawn to instances in which premiums (details supplied) for having contracted Covid-19 in the workplace were not paid to HSE staff; and if this has affected their basic pay and pension contributions. [59164/21]

Written Answers — Department of Children, Equality, Disability, Integration and Youth: Family Resource Centres (1 Dec 2021)

Mairéad Farrell: 133. To ask the Minister for Children, Equality, Disability, Integration and Youth if he plans to increase core funding for family resource centres; if funding can be increased by a centre (details supplied) in County Galway to allow it to recruit a third-staff member given the complex needs of the local community; and if he will make a statement on the matter. [59404/21]

Written Answers — Department of Justice and Equality: Immigration Status (1 Dec 2021)

Mairéad Farrell: 160. To ask the Tánaiste and Minister for Justice and Equality if her Department’s regularisation scheme will be delivered by the end of 2021; and if she will make a statement on the matter. [59405/21]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I thank the witnesses for appearing before the committee. I want to follow up on two issues raised with the witnesses by my colleague, Deputy Doherty. My first question is in regard to meetings with the Governor of the Central Bank. Is Mr. Blažek aware how many times in the past two years his predecessor met the Governor of the Central Bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I thank Mr. Blažek. Would he be able to furnish the committee with that information in writing post meeting?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I thank Mr. Blažek. My second question is in regard to an issue mentioned by my colleague, Deputy Doherty, but which he did not get an opportunity to tease out. What advice would KBC offer a new entrant, or a re-entry of KBC, into the market?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I thank Mr. Blažek for that very interesting analysis. On the staff of KBC Ireland, what protections for pensions will the bank put in place for the long term? Will the bank transfer the employer covenant responsibility and deeds to KBC Group in order to best protect both deferred, active and pensions members of the KBC schemes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I would hope so. This is about people's lives and livelihoods.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I must go now to the committee room now but if Mr. Blažek feels strongly that the bank is working so well with the employees and that it is so well functioning, I do not understand why it would not engage with a union that represents workers and allow workers and employees to work with their union and have it represent them. That is my opinion on the matter.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market: Engagement with KBC (1 Dec 2021)

Mairéad Farrell: I thank the witnesses for attending and for their engagement with the committee. I propose we suspend briefly before beginning our second session to discuss the review of the EU economic governance framework.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: I welcome members and viewers who may be watching our proceedings on Oireachtas TV to the second part of this session of the Oireachtas Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach. We will now discuss the European Commission’s review of the EU governance framework. I welcome to the meeting the economist, Dr. Dirk Ehnts. The format of the meeting is that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: I thank Dr. Ehnts. I will begin with my own questions initially. I wonder about the origin of the fiscal rules and how they came about. There is the 3% debt-to-GDP rule and the 60% public debt level rule. I wonder if those figures are supported by any evidence. If not, why were those particular figures chosen? What are their implications for economic stability and development?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: That is quite interesting about how that figure of 3% came about. Dr. Ehnts mentioned climate in his opening statement. I am worried about the chance of implementing a Green New Deal, GND, given the current rules. I am also sceptical that it would be enough to increase the debt ceiling to 100%. The majority of financing for the Green New Deal will have to be done at a national level....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: Often in the conversation around money creation, I worry that there is a lack of understanding of the process of money creation. Does Dr. Ehnts think that is the case and that, if there was a deeper understanding of how monetary operations work, there could be a different view of fiscal rules?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: My last question follows on from that. The fiscal rules set targets around debt and deficit levels but not around employment levels or emission targets. Would these be better metrics to strive for?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: A Senator had indicated a wish to speak but now appears to have left. Senator Higgins can ask her additional questions and I will intervene if the other Senator returns.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: Do many other countries have fiscal rules? I am interested in hearing the global view of the rules. I am aware that the New Zealand Government still has the old fiscal rules in place but, interestingly, the Green Party there is quite against them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Review of EU Economic Governance Framework: Dr. Dirk Ehnts (1 Dec 2021)

Mairéad Farrell: I note Senator Higgins has indicated. I will allow her in but I ask members to be mindful that we have to conclude at 4.30 p.m.

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