Results 7,761-7,780 of 8,073 for speaker:Peter Burke

Written Answers — Department of Communications, Energy and Natural Resources: National Broadband Plan Implementation (2 Nov 2016)

Peter Burke: 412. To ask the Minister for Communications, Energy and Natural Resources the status of the national broadband plan, with reference to the Foynes area, County Limerick, and with particular reference to Marine Cove Estate, Foynes, County Limerick; and if he will make a statement on the matter. [32670/16]

Written Answers — Department of Children and Youth Affairs: Early Childhood Care and Education Funding (2 Nov 2016)

Peter Burke: 482. To ask the Minister for Children and Youth Affairs her views on the case of a person (details supplied) regarding the early childhood care and education scheme; and if she will make a statement on the matter. [32933/16]

Written Answers — Department of Housing, Planning, Community and Local Government: Motor Tax Exemptions (27 Oct 2016)

Peter Burke: 86. To ask the Minister for Housing, Planning, Community and Local Government if exceptions will be granted in relation to motor tax for those who may have been hospitalised for long periods of six months or more; and if he will make a statement on the matter. [32418/16]

Written Answers — Department of Social Protection: Money Advice and Budgeting Service (27 Oct 2016)

Peter Burke: 99. To ask the Minister for Social Protection the number of persons MABS has forwarded to the Phoenix project Ireland for personal or business insolvency advice; and if he will make a statement on the matter. [32451/16]

Finance Bill 2016: Second Stage (Resumed) (26 Oct 2016)

Peter Burke: I welcome the opportunity to speak on the Finance Bill 2016 on foot of the budget. We have come a long way when one takes a view from 2011 when our country was spending 50% more than it was taking in in revenue. A ten-year Government bond was yielding approximately 14% which was huge, indicating the capacity of our country to borrow. Let us consider where we have come in a short space of...

Written Answers — Department of Education and Skills: School Management (26 Oct 2016)

Peter Burke: 65. To ask the Minister for Education and Skills his views on recurring issues involving school insurance and school opening hours (details supplied); his further views on whether this would fall under the Ombudsman's remit; and if he will make a statement on the matter. [32163/16]

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: First, I would like to focus on the discount rate because it is the fundamental issue in determining whether there was a significant loss of funds to the taxpayer and the State and to address the frame of mind the Comptroller and Auditor General was in. An auditor can only judge on what evidence is put before him. There has been an admission by NAMA officials that their record keeping was...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: That is the point I am getting at. Mr. Collison said he recalls that it was discussed but the evidence particular to Project Eagle does not stack up in respect of the clear detail of why a departure was taken. When one looks in detail at the board paper from December 2013 on page 42, NAMA used a 2.5% discount rate as well as a 5.5% for Northern Ireland. That is confusing for people who are...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: Critically, I am not clear on why a 2.5% discount rate for Northern Ireland debtors was mentioned in that paper.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: People auditing this will only reflect the evidence put before them. They can see a worked out cashflow with a discount rate of 5.5% and the alternative before them is a 2.5% rate. Mr. Rooney will acknowledge why someone may be concerned about a 10% discount rate being used all of a sudden.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: The critical point in this regard is that was retrospective. If one is trying to examine what was happening, which is difficult at this stage, when the process was ongoing, it is difficult to ascertain the work that was carried out to justify the 10% rate at the time. I questioned Mr. McEnery previously in a robust exchange. He alluded to a HSE property with a 30-year lease being sold at a...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: I accept that point but I come back to the wider context, which is this was the biggest sale that NAMA undertook at the time in terms of a block sale of all its Northern Ireland portfolio. Central to that is how the portfolio and cashflows were valued and discounted. Should there have been greater emphasis and clearer detail at board level and operational level given the documents we have...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: Returning to the issue, it is easy to see how someone examining the evidence would be confused by the reference to the lower discount rate being used.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: I understand that point but why then was there no increased rate to show sensitivity? A lower discount rate would obviously show an increase of funds to the taxpayer, which is very good, but one of the most important questions when it comes to risk assessment is what are the adverse consequences of a sale. It would have been reasonable to include a sensitivity rate above 5.5% because that...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: I accept it is referenced. I have read the note from the board. The departure from the discount rate is not detailed. The point I am trying to get across is that as I understand it, when it comes to evaluating a sale, the adverse consequences should always be clearly detailed. I do not understand why in relation to such an important sale the only rate detailed is the discounted interest...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: Does Mr. Rooney accept that it should be done?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: If Mr. Rooney personally was selling an asset, would he think it good practice to have a working for the departure on the discount rate?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: When the Minister for Finance, Deputy Noonan, appeared before the committee, he said that a work-out of the loan book was not a viable option because of pressure from the European Central Bank, ECB, in the context of Ireland trying to exit the bailout programme. From an operational point of view in terms of calculations and valuations, were any of the witnesses aware of that pressure such...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: It is a reserve that is poorly justified in a way in terms of the options. We should have had details on a discount and a calculation for the increased option. However, the reality is that we do not have that and so we must move on from it.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Peter Burke: Reference is made on page 11 to the three valuation methodologies reviewed by the Comptroller and Auditor General. In regard to the first valuation in respect of which a carrying value of €1.4 billion was used, there was a downward adjustment of €85 million in that regard. The Comptroller and Auditor General has stated that on examination of this valuation, there was no clear...