Results 46,581-46,600 of 49,836 for speaker:Stephen Donnelly

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Stephen Donnelly: Does it bother Mr. Boucher that his bank is regarded in this way?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Stephen Donnelly: Let us talk about that. The expert review on repossessions states the following as Government policy:The Government’s paramount objective in the context of resolving the mortgage arrears problem is to keep borrowers in their homes wherever feasible; repossession of private residences is a last resort when all other options have failed. The statutory and regulatory frameworks have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Stephen Donnelly: If I and others were to provide Mr. Boucher with a portfolio of testimony, maybe from individual borrowers but also from people working in this field with all lenders that identify Bank of Ireland as being on its own in the level of unhelpfulness and aggression used in these cases does he believe who might be factored into changes in the bank’s policy? I understand that Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Stephen Donnelly: I thank Mr. Boucher.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland (Resumed): Bank of Ireland (29 Apr 2015)

Stephen Donnelly: In March.

Spring Economic Statement (Resumed) (29 Apr 2015)

Stephen Donnelly: Yesterday's economic statement is an opportunity for us all to have a conversation about the country we want to live in and want our children to grow up in. Should we focus on becoming a lower-tax economy or should we invest in enterprise, in public services, like education and health, and in communities? I believe we should do the latter. The economy is growing again and unemployment...

Mortgage Arrears and Repossessions: Motion [Private Members] (28 Apr 2015)

Stephen Donnelly: I thank all Deputies for their contributions. We have had a very useful and timely debate in a context where the Government is expected to present a package of new policy measures in the coming weeks. I thank my colleagues in the Technical Group who put their names to the motion. My sense from listening to the debate tonight is that there is a great deal of good intentions on all sides...

Mortgage Arrears and Repossessions: Motion [Private Members] (28 Apr 2015)

Stephen Donnelly: I move:That Dáil Éireann: recognises: — that mortgage arrears in Ireland, at 156,352 mortgages as of December 2014, are significantly higher than in comparable countries; — the on-going suffering and social cost for those affected by arrears and repossession; and — the socioeconomic cost for the nation of mortgage arrears and repossessions; acknowledges...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: Mr. Duffy and his team are very welcome. I want to start by recognising some things that the bank has achieved and has done. First, I want to recognise the improved performance of the bank. A noticeable turnaround has been achieved by the bank, by the management of the bank and, no doubt, by all of the employees of the bank over the last few years. As the owners of the bank, I think we...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: However, AIB has advice that the best guess is that, were the bank sold tomorrow, the State would get about €12 billion or €13 billion for its stake.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: Mr. O'Connor mentioned earlier that €4.7 billion has been written off in non-mortgage debt, presumably since about 2008. Is that right?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: Just to be clear, €4.7 billion was written off in non-mortgage debt last year.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: Does Mr. O'Connor have the figure for mortgage debt?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: I want to move on to the mortgage rates. I took a look back at October 2012 when we had this conversation at the finance committee. AIB's rate was 3.5% and it has gone up to €4.15%, so it has gone up by 65 basis points. At the same time, the ECB rate has come down by 70 basis points. I appreciate it is only 3% of the funding but, at the same time, risk has obviously fallen...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: I appreciate that. I am going back further, to October 2012. The variable mortgage rate is now significantly higher than it was in October 2012, so AIB's mortgage rate has gone up but all of the drivers of cost associated with that have gone down. On the basis that the rate has gone significantly up and the costs have gone significantly down, is it fair to say the only reason the mortgage...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: I would like to ask about the margins specifically on the variable rate. I appreciate the witnesses have stated that blended margin, or the average net margin for the bank, is below industry standard. Let us say the variable rate is 4.15%. The last report we have for the blended cost of funding for the bank was 1.57%, and while it is probably slightly lower now, let us use that. That...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of the Banking Sector in Ireland: Allied Irish Banks (22 Apr 2015)

Stephen Donnelly: Will AIB come back to the committee with those figures? AIB has 50% of the entire standard variable mortgage market. These mortgage holders are not interested in whether the net margin for the bank overall is reasonable but if the net margin on variable rate mortgages is reasonable. I have no idea whether it is or it is not. On the same basis that the bank was able to tell the committee...

Ceisteanna - Questions - Priority Questions: Schools Building Projects Status (22 Apr 2015)

Stephen Donnelly: I thank the Minister for the update and am delighted to hear that the opening date for the school is confirmed for September. I also want to record my thanks to the Department's officials who spent significant time with me on this over the past two years. The parents will be very relieved about the September opening date. I know a process has to be gone through but I would like to point...

Ceisteanna - Questions - Priority Questions: Schools Building Projects Status (22 Apr 2015)

Stephen Donnelly: I disagree with the Minister on class sizes. Her predecessor claimed class sizes had not been affected but a significant number of resource teachers have been taken away, resources for schools in the delivering equality of opportunity in schools, DEIS, programme have been decimated and secondary schools have had their career guidance counsellors taken away. I do not believe it is a...

Ceisteanna - Questions - Priority Questions: Schools Building Projects Status (22 Apr 2015)

Stephen Donnelly: 3. To ask the Minister for Education and Skills if she will provide an update on the location, patronage, timeline and proposed opening date of the recently announced primary school in Greystones, County Wicklow; and if she will make a statement on the matter. [15678/15]