Results 4,321-4,340 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

John Paul Phelan: I thank Professor Kane. Following on from the question of Deputy Doherty, with regard to governments that enter into blanket guarantees, once a guarantee of that nature is entered into, is it virtually inevitable that the guarantee will have to be continued until the immediate crisis passes? To use another driving analogy, of which Professor Kane has used many, is it akin to the no claims...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

John Paul Phelan: With regard to the financial reports issued by financial institutions, all businesses in the Irish context tend to post results quarterly. In terms of the unique circumstances surrounding banking, is it appropriate that the reporting terms be extended? Would a different reporting system be useful in terms of how banks report their financial situations?

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

John Paul Phelan: Just to play devil's advocate to previous comments about the size of financial institutions, and bearing in mind that the view is very different from the United States, do big banks not have advantages for individual customers and corporations in terms of international credit and international trade, provided they are properly regulated? Is the size of the bank not a secondary issue to the...

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

John Paul Phelan: The point is that whether they are properly regulated is the primary issue, rather than large or small.

Committee of Inquiry into the Banking Crisis: Context Phase (28 Jan 2015)

John Paul Phelan: Professor Kane stated in a lecture given at King's College, Cambridge, a number of years ago that banks outsource and shortcut due diligence. Can he provide a basic description of how they do that?

Written Answers — Department of Education and Skills: Public Sector Allowances Review (27 Jan 2015)

John Paul Phelan: 422. To ask the Minister for Education and Skills if she will review the decision made when the honours degree allowance was abolished that teachers, who were not working on the 5 December 2011, lost the allowance which equals €3,076 per annum; and if she will make a statement on the matter. [3818/15]

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Mr. Regling is welcome. In his presentation today, he posed the question of whether there were failures by auditors. In his view, in drawing up his report, were there failures by auditors in the Irish banking institutions?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: From Mr. Regling's experience, was that a uniquely Irish thing in terms of our difficulties in the banking crisis, or were there questions over auditing in other countries that experienced difficulties as well?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: I want to turn to page 5 of the Mr. Regling's report where he spoke about a pattern of tax cuts that left Government revenues fragile. Can he outline briefly what he meant by the pattern of tax cuts?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Regarding those cyclical taxes, in 2006 they formed about 30% of the overall tax take in Ireland. What should that figure be in Mr. Regling's view?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Mr. Regling also mentions in his report that tax breaks to developers seemed to have been granted on almost an ad hocbasis and not in a fully transparent way. Can he elaborate on how he came to that conclusion?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Finally, in his report Mr. Regling said there was scope to mitigate the risks of the boom-bust cycle through prudent fiscal and supervisory policies. Why in his view were those steps not taken in Ireland?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: I welcome Professor Lane. Before and during the crisis, was he approached by anybody from the Government for his advice on what was taking place seeing as it was a major part of areas he has researched in his academic career?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Did Professor Lane feel that in any of those casual meetings with no agenda anything he said was reflected in decisions which were subsequently made?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: That is fair enough. Senator O'Keeffe and Deputy Higgins posed the question earlier of why such investment was directed towards property when he was talking about the amount of money invested in the country. In his answer to Senator O'Keeffe, Professor Lane touched on tax incentives in the property sector. At what stage does he believe those incentives ceased to have a positive impact?...

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: In regard to the wider profession of economics, there were some voices which expressed, perhaps late in the day, criticism of fiscal policy. The term "groupthink" is often used regarding politicians, the media, bankers, property developers, and what went on in Ireland in the lead-up to the banking crisis. Was Professor Lane's profession part of the groupthink that went on?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

John Paul Phelan: Some of those voices were very late in the day.

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

John Paul Phelan: I thank the Chairman and welcome the Governor and thank him for his attendance and his work over the past five or six years. Previous speakers referred to the cost of the guarantee to the country. I am sure the Governor, wearing his economics professor's hat, has a figure in his head for the wider cost, not just of the guarantee but the cost of the banking crisis and the subsequent cuts and...

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

John Paul Phelan: Professor Honohan will not or does not wish to put a figure on it. I can understand why he does not wish to as it is a big question for sure. However, if, and he kind of touched on it in his answer, the banks had been prudently regulated in the period that he inquired into, would the figure that he has not given have been significantly lower?

Committee of Inquiry into the Banking Crisis: Context Phase (15 Jan 2015)

John Paul Phelan: Would the final net cost-----