Results 761-780 of 4,002 for speaker:Rose Conway Walsh

Joint Oireachtas Committee on Communications, Climate Action and Environment: Energy Plant Certification: Commission for the Regulation of Utilities (2 Apr 2019)

Rose Conway Walsh: It is very unfair to Mayo. There is deep shock in the community in Mayo. In north Mayo, where I live, there is a lot of deprivation and unemployment. Regarding employment, there was an expectation from the community and the promoter. I ask that the CRU do all it can to make this project happen to fulfil those expectations in terms of employment.

Joint Oireachtas Committee on Communications, Climate Action and Environment: Energy Plant Certification: Commission for the Regulation of Utilities (2 Apr 2019)

Rose Conway Walsh: My questions have already been answered . I am sure the CRU is now very aware of the seriousness of this project and how much it means to the local economy.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Many of my questions have been asked at this stage. The Central Bank's analysis identified all the negative externalities. Did it encounter any positive externalities, particularly for the consumer?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: What does Mr. Tobin mean by that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Did the Central Bank see anything positive in terms of its consumer protection role?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Obviously we are talking about it being transferred once, but with many vulture funds this could be flipped over many times. Does Mr. Sibley see that as a negative or any negative consequences for the economy in terms of the same mortgage being sold over and over again?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: However the Central Bank does not have any control over how many times a mortgage is flipped or where it ends up. It is purely at the discretion of the vulture fund.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Are they legally required to do that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Could loans be sold outside the EU? Does the Central Bank have any control of where they might end up worldwide?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Are the "strong expectations" to which Ms McEvoy refers legal requirements?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: As such, anybody from outside the State could not acquire one.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: I am trying to understand this. For instance, it is confusing that we cannot find out who the beneficiaries of the sale of the Project Glenbeigh portfolio are. These mortgages keep getting flipped and there is less and less transparency around it. As consumers and as citizens, we collectively need to have confidence in the system.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: That just applies to the vehicle. It is not required of the final beneficiary of these mortgages. They can be outside the State.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Can Mr. Sibley see why people might have less confidence in a vulture fund than they would in a bank that they chose in the first place when making the big decision to take out a mortgage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: I wish I could share Mr. Sibley's confidence. The witnesses have made assumptions about increases in interest rates, repossessions, etc. Could they envisage these properties being sold to vulture funds and flipped? Could that increase repossessions as well? The decision could be made overnight. Somebody is going to pull out of the market. These vulture funds will make hard business...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Let us say we are at the top of the housing market now or we are very near it. It is overheated. A firm might make a business decision on that. If it owns a lot of properties that are highly valued, in light of the impact of Brexit, etc., it may project that housing prices will fall. It may make the decision to sell, which could lead to a lot of repossessions. Could that happen? Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: I understand. I do not want to use up my time with that. I fully understand how they work and the models they use. I am trying to ask a simple question. If the vulture funds decided the market had peaked and to sell off many portfolios, could that lead to increased repossessions in the housing market?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: I again do not share the witnesses' confidence in how the operation works. I would like to discuss the impact on the economy of introducing vulture funds in the first place and then allowing them to gain a greater foothold. Has the Department carried out an analysis of the cost of the tax loopholes, for example, under section 110 of the Taxes Consolidation Act 1997? How much do they cost?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: Mr. Tobin has said this is a cost to the Exchequer and that some of the language used is alarming, which indicates that if the Bill was to go through, we might have Armageddon. I am trying to look at what the delegates have compared it with. I would have thought it would be basic to look at the section 110 aspects to see what vulture funds were already costing us in terms of manipulation of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion (2 Apr 2019)

Rose Conway Walsh: It is very important that this issue not just be kept under review but also that a cost be put on the process on an annual basis. It is something at which we should look as a committee. I probably took it for granted that the Department would do this. My next question concerns the loans identified as fitting the non-performing criteria. Are the delegates satisfied that all of the loans...