Results 5,861-5,880 of 36,116 for speaker:Pearse Doherty

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...

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

Pearse Doherty: In November of last year, the Taoiseach made plain his desire to introduce tax breaks for private developers. That sums up the approach of the Government in housing policy and the cul-de-sac which the Taoiseach's thinking has entered. Unfortunately, he is taking struggling renters and prospective owners down that cul-de-sac with him and stunting their life plans and hopes for the future....

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

Pearse Doherty: With respect, I have asked the Minister a direct question here. The Taoiseach is upfront about it - he wants tax breaks for developers. That is the cul-de-sac which he wants us to go down, which underlines the abject failure of the housing policy of this Government and indeed the Taoiseach. Can the Minister for Finance tell the House if he is willing to consider tax breaks for developers?...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (24 Jan 2023)

Pearse Doherty: 66. To ask the Minister for Finance if he will introduce measures to ensure that recent reforms in the insurance sector will result in proportional reductions in premiums for consumers; and if he will make a statement on the matter. [3330/23]

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (24 Jan 2023)

Pearse Doherty: The personal injury guidelines have been in effect since April 2021. Despite the sharp reductions in personal injury awards and claims through the High Court, there is growing frustration that the benefits of the reforms are not being passed on in full to customers, businesses, community groups, sporting organisations, etc. The money is being pocketed by the industry. Will the Minister of...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (24 Jan 2023)

Pearse Doherty: I wish the Minister of State well. Most of what she said could have been written by the insurance industry. That is disappointing. We really need to work on this. It does not take much time. Industry profits are already being boosted. Personal injury awards are down by 38% in the book of quantum. It has already happened. The number of cases that went through the courts in the first...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (24 Jan 2023)

Pearse Doherty: I agree, and I will work with the Minister of State on other legislation, particularly on the duty of care and some other needed reforms. However, we passed legislation. I supported that legislation but not to deepen the pockets of the insurance industry. Awards have been slashed and the numbers going through the courts have dropped dramatically. The profits of the industry have...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Tax Collection (24 Jan 2023)

Pearse Doherty: I will be interested to see if that economic analysis and impact assessment on whether this rate will go back up will be published before a decision is taken. The Taoiseach remarked this month that it would be possible to extend the reduction while excluding hotels. Is that on the cards? Is there potential for that? It would also have to exclude all holiday accommodation such as bed and...