Results 5,301-5,320 of 35,563 for speaker:Pearse Doherty

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: I appreciate that. There is much more we could discuss in respect of corporation tax but I wish to touch on two other items. I know I am running-----

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: On research and development tax credits, we have been arguing for a long time that they should be focused on SMEs and there should be additional supports in place in that regard. In fairness to the previous Minister, he accepted one of our proposals for a higher rate for SMEs. Even though it was legislated for, it could not be implemented because of state aid rules and complexity that was...

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: For clarity in respect of individualising taxation, for a two-person household where both are working, basically, whether it is individualised or the hybrid system we currently have, the tax liability of that household would remain the same. If it is individualised and only one member of the couple is working, however, the tax liability on that household would be higher than it is under the...

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: That would be an issue for people who are caring-----

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: ------for an incapacitated child, for example. It might be an issue for those who have young children at home or an elderly parent living with them. It gives rise to those kinds of issues.

Committee on Budgetary Oversight: Commission on Taxation and Welfare Report: Discussion (25 Jan 2023)

Pearse Doherty: I appreciate that. I thank Dr. Doorley.

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)

Pearse Doherty: I welcome the Governor and his team to the committee. In a wide address, the Governor focused on interest rates. His comments will set alarm bells ringing in the houses of those who have been in contact with me as regards their personal finances, particularly his comment that the ECB will continue to increase interest rates at its meeting next week and at the March meeting. Particularly...

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)

Pearse Doherty: I know he has answered on this but, from the Governor's point of view, if the banks do not pass on these interest rate hikes, as some have not in the past with regard to the standard variable rate, would they be acting contrary to ECB policy? They are in a better position not to and to profit from the deposit rate now set by the ECB given the levels of deposits they have on their accounts...

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)

Pearse Doherty: Does Mr. Kincaid accept we are going into an era of arrears, given that interest rates are rising sharply and, as the Governor said, will rise next week, again in March and potentially beyond that again? Does Mr. Kincaid accept that families will now fall into arrears and that it is up to financial institutions to have a suite of options available to assist those families?

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)

Pearse Doherty: Does Mr. Kincaid accept there will be a higher level of arrears in the time ahead?

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)

Pearse Doherty: Let us call a spade a spade. Mr. Kincaid and I both know there are some big players among these vulture funds. They do not offer a suite of options. What do they offer? Pay your mortgage or we repossess your home.

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)

Pearse Doherty: I am glad Mr. Kincaid has seen 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)

Pearse Doherty: I am glad Mr. Kincaid has seen that. I would probably argue, he might correct this, that that may have been on the fringes. I might be wrong; I will let Mr. Kincaid explain that. When Mr. Kincaid talks about their strategy of engagement, the people listening in will be laughing at that. People cannot engage with these funds. They are not engaging and offering alternative arrangements....

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)

Pearse Doherty: This is the Central Bank washing its hands. The Central Bank washed its hands of the tracker stuff at the very start of it. In fairness, it kicked-in late on in the day. This individual, for example, should not have had his loan sold to a vulture fund. This individual should not have been under an alternative payment arrangement because if he was not a victim of the tracker mortgage...

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)

Pearse Doherty: Mr. Kincaid talked about switching and the waterfall in terms of the options available for the banks. Many of the people who are reaching out to me have been hard done by. They have been sold a pig in a poke by previous Governments and possibly by some of the commentary from the Central Bank. A total of 113,688 family homes have been sold to vulture funds. Government spokespersons have...

Ceisteanna Eile - Other Questions: Mortgage Resolution Processes (24 Jan 2023)

Pearse Doherty: A person of whom I am aware is paying €400 a month more. That is €4,800 to the vulture fund. The code of conduct states that where a borrower is experiencing repayment difficulty, a regulated entity must explore all the options for alternative repayment arrangements offered by the entity. There are no options in this case. The vulture fund offers no options. The Government...

Ceisteanna Eile - Other Questions: Mortgage Resolution Processes (24 Jan 2023)

Pearse Doherty: We have touched on this issue previously. The question relates to the cohort of around 114,000 individuals who have mortgages with the vulture funds. The issue is the code of conduct on mortgage arrears. The Minister gave me an answer last week suggesting that they could look at alternatives or could move to a different mortgage provider but these people have no alternative. These vulture...

Ceisteanna Eile - Other Questions: Tax Code (24 Jan 2023)

Pearse Doherty: Will the Minister take the Taoiseach aside and explain to him that his Department, the ESRI and other experts, including the Commission on Taxation and Welfare, whose members were the experts appointed by the Government, are all of the view that taxpayers funding developers will only deepen the pockets of those developers without actually increasing supply? Will the Minister have that...

Ceisteanna Eile - Other Questions: Banking Sector (24 Jan 2023)

Pearse Doherty: Can I clarify something with the Minister? The programme for Government committed to assess the CCMA, including the available suite of alternative repayment arrangements, and to ensure it has full legal effect. Is the Government going to do that or is it just saying that the Central Bank is carrying out a piece of work that will take us up to 2025? This is a far wider consumer protection...

Ceisteanna Eile - Other Questions: Tax Code (24 Jan 2023)

Pearse Doherty: 74. To ask the Minister for Finance his views on introducing additional tax measures for developers and investors in the residential property market; if he agrees with a previously commissioned report (details supplied) that such incentives would represent a clear waste of scarce public resources and would lead to an increase in site and property prices; and if he will make a statement on the...