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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

John McGuinness: That depends on the book of quantum. That is the caveat.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Insurance Costs for Small and Medium Businesses: Discussion (4 Apr 2019)

John McGuinness: Before Senator Lawlor speaks, there is a division in the Dáil and Deputies are obliged to go. I ask Senator Horkan to chair the remaining part of the meeting. I thank the witnesses. Since the judicial system and lawyers have been mentioned umpteen times, they are welcome to come to the committee to make a case for themselves if they wish.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: Our guests might keep us informed about developments in respect of that cohort of staff. How many are involved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: Have the Senator another short question?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: The Senator's own journey has ended now.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: I support what Deputy Michael McGrath has said about the staff and the numbers. I want to be sure that the number is 200. That figure was given earlier.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: It is approximately 200 and that is the extent of it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: How much was the bank's profit for 2017?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: What about 2018?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: What about 2017 then?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: What is the figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: The profit in 2017 was approximately €1 billion?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: What was the figure?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: Ms McDonagh said to Senator Conway-Walsh that Bank of Ireland paid €21 million in Irish corporation tax. What entity paid that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: I am drawing a distinction between that and the fact that the bank is free of paying tax in the main entity until 2030.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: That deferred figure-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: -----goes out to 2030.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: The tax is being paid by other entities within the bank.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector: Bank of Ireland (4 Apr 2019)

John McGuinness: It gives the impression the bank is paying tax from-----

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