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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Ms Arnett expects that 1,000 of this type of account will be frozen. Is that correct? Obviously the inactive ones will be frozen.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: There are 5,400 with some level of activity that have not been closed. If Ms Arnett expects that 1,000 will be frozen two weeks from Friday, how many does she expect will close between now and then?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Everyone has got letters at this stage.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Perhaps I will frame the question another way. Of the 5,400 that have some level of activity that have a deadline of two weeks from Friday, how many of them will still be open after the deadline but Ulster Bank will not freeze for the reasons that have been outlined by Ms Arnett?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Does Ms Howard expect this trend to continue throughout the whole process? We are only talking about the April ones. If you were sitting down to do this, you would hope these numbers would be very different. Ms Howard said Ulster Bank will not freeze roughly 4,000 accounts because there is some level of activity and it will probably freeze 1,000 of them. That is one third of all accounts...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: No. Ulster Bank is likely to be freezing 1,000.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: There are 4,000 that have passed their deadlines that Ulster Bank will not freeze because it needs to engage further.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: What will happen to accounts that have overdrafts that Ulster Bank will freeze?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: How many of the account holders who have a deadline of two weeks from Friday have an overdraft, whether arranged or unarranged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Yes. How many have-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Ms Howard has said that Ulster Bank has extended the deadline because of social welfare payments. Does Ulster Bank expect to have to extend the deadline for the double payment at Christmas or is this a once-off provision?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Okay.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Some people are finding it difficult to transfer to other banks. Those include people with health issues and mobility issues who are unable to visit a branch. Some have sought power of attorney, which is a costly issue. What support is the bank giving its customers in that regard? Customers without current valid photographic identification are also finding it difficult. That problem...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: May I ask one final question because I know the Chair will not let me back in? This is a tangential issue in respect of tracker mortgages. The Financial Services and Pensions Ombudsman, FSPO, is dealing with a large number of cases as a result of legislation that I brought in to allow for the timeframe to be waived and to allow for people to take action beyond the initial time limit. How...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: Will Ms Howard also share the number of appeals? I do not need the details but would like to know how many there are.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: I thank Ms Howard. Perhaps she would respond to my other questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland (19 Oct 2022)

Pearse Doherty: What about the issue in respect of valid photographic identification?

Domestic Electricity and Gas Disconnections: Motion [Private Members] (18 Oct 2022)

Pearse Doherty: Workers and families are facing a cost-of-living crisis. They are seeing mounting energy bills and massive strain being put on their household finances. Many of them are facing sleepless nights. They are facing the stress of how they can keep on top of mounting bills, how they can heat their homes and how they can keep the lights on as we approach winter. The Government has refused the...

Written Answers — Department of Finance: Tax Data (18 Oct 2022)

Pearse Doherty: 269. To ask the Minister for Finance the effective tax rate in the form of dividend withholding tax paid by Irish real estate funds as a proportion of operating and pre-tax profits respectively in each of the years 2018 to 2020; and if he will make a statement on the matter. [51241/22]

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